• Victoria Antoinette @lemmy.world
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    7 months ago

    the bitcoin blockchain doesn’t require any power. any miner can stop, the blockchain would have less power, and still continue to function.

    • Knock_Knock_Lemmy_In@lemmy.world
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      7 months ago

      The bitcoin blockchain doesn’t require any power.

      Yes. It does. No transaction can occur without proof of work being performed.

      any miner can stop, the blockchain would have less power, and still continue to function.

      Marginally less power, but nowhere near the reduction needed to compete with a PoS blockchain.

      For example Ethereum PoS uses 2,600 MWh per year (= a single 1MW windfarm). Bitcoin uses 53,000x more energy than Ethereum.

        • Knock_Knock_Lemmy_In@lemmy.world
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          7 months ago

          the whole network could be run on two raspberry pis.

          No. Then someone would buy 3 raspberry pis and claim all the bitcoin.

          Bitcoin was a great idea in 2008 but in 2024 it has been overshadowed by other blockchains in every single dimension except for market cap.