CoinDesk - Satoshi Nakamoto, the creator of Bitcoin, expressed concerns in an email about Bitcoin's potential high energy consumption but argued it might be offset by the inefficiencies of traditional banking

in blockchain •  10 months ago 

https://www.coindesk.com/tech/2024/02/23/satoshi-anticipated-bitcoin-energy-debate-in-email-thread-with-early-collaborators/
Screenshot_20240305-122142_Brave.jpg

Satoshi Nakamoto, the creator of Bitcoin, warned in a 2009 email that Bitcoin could become very energy-intensive due to its use of Proof of Work (PoW) for security.

While acknowledging the environmental concerns, Satoshi argued that Bitcoin's energy usage might be offset by the resources saved by replacing traditional banking systems.

The email release also revealed Satoshi's concerns about labeling Bitcoin as an investment due to potential legal complications.

Wait... what? He already prophesied the future!!

Screenshot_20211106-080453_DesignEvo.jpg

Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

Upvoted! Thank you for supporting witness @jswit.