This Is How Satoshi Nakamoto Defended Bitcoin Mining & Converted A Skeptic

Reddit users have been looking back with no small amount of nostalgia at a forum post by the Bitcoin (BTC) founder Satoshi Nakomoto that dates back to August 7, 2010 – and sees the network architect change a skeptic’s mind about the energy efficiency of mining BTC. The post comes from the Bitcoin Talk forum, in a thread created by a user named Gridecoin. In their original post, Gridecoin opined that while they considered BTC to be a worthy project, energy issues would likely plague it. And after some back and forth with other site contributors, Nakomoto made a rare appearance in the chat to explain that the “situation” was not unlike gold and its relation with gold mining. And Nakomoto went on to defend Bitcoin’s proof-of-work model. However, Gridecoin disagreed with the idea that the very high computational burden of coin generation is in fact a necessity of the current system:"As I understand it, currency creation is fundamentally metered by time – and if that is the fundamental controlling variable, what is the need for everyone to ‘roll as many dice as possible’ within that given time period? The ‘chain of proof’ for coin ownership and transactions doesn’t depend on the method for spawning coins.”But the BTC founder responded that “Proof-of-work has the nice property that it can be relayed through untrusted middlemen. We don’t have to worry about a chain of custody of communication. It doesn't matter who tells you a longest chain, the proof-of-work speaks for itself.”And that drew a positive response from Gridecoin, who wrote,And Gridecoin went a step further, asserting that while “government-issued fiat currency may not have any obvious energy burden beyond its printing,” the “energy cost of hiring police officers to enforce economic honesty” far outweighed the energy costs involved with mining tokens on the Bitcoin network. Modern-day Redditors appear enchanted by the exchange. Some returned to the key points made in the 2010 discussion, with one remarking that “everything has a price” and bemoaning “carbon clowns trying to make trouble.”But another pined for days gone by on the internet, and times of more civil exchanges, writing,____Learn more:- Satoshi Nakamoto from NSA, AntiChrist and Other Bitcoin Conspiracy Theories- Satoshi Nakamoto Mined More Than 1 Million Bitcoin - Report- Bitcoin Miners Buy Oversupplied Energy, Turn To Renewables - Nic Carter- Why Bitcoin's Energy Consumption May Be a Price Worth Paying- Norwegian Giant Aker Goes Bitcoin, Defends BTC Mining, Eyes Micropayments- Bitcoin Mining in 2021: Growth, Consolidation, Renewables, and Regulation- Bitcoiners May Change Their Mind on PoS, 'Who Knows,' Says Buterin


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