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From: Karl <gmkarl@gmail.com>
Date: Sun, 16 May 2021 19:29:47 -0400
Message-ID: <CALL-=e6yBtfm+p_Hd6pwOqaUf9oq5E8quDYabtAx11PAmRrixQ@mail.gmail.com>
To: Eric Voskuil <eric@voskuil.org>,
Bitcoin Protocol Discussion <bitcoin-dev@lists.linuxfoundation.org>
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X-Mailman-Approved-At: Mon, 17 May 2021 07:44:08 +0000
Subject: Re: [bitcoin-dev] Proposal: Force to do nothing for first 9 minutes
to save 90% of mining energy
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On 5/16/21, Eric Voskuil via bitcoin-dev
<bitcoin-dev@lists.linuxfoundation.org> wrote:
> https://github.com/libbitcoin/libbitcoin-system/wiki/Efficiency-Paradox
> https://github.com/libbitcoin/libbitcoin-system/wiki/Proof-of-Memory-Fallacy
The chain security actually reduces by 10% in this proposal. So the
efficiency paradox is not violated, it is just the real cost of
confirming a transaction is reduced, because there is actually less
security. This eventually reduces the price of bitcoin and reduces the
amount of electricity the block reward can eventually buy.
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