> All that wasted energy is paid for by the holders
Could you explain me what energy is "wasted" in Proof-of-Work and also how the people currently holding the cryptocurrency is paying for that "waste"?
AFAIK, the same number of blocks are made no matter how many transactions are being made or how many holders there are (or how much each holder "holds"), so the energy consumption of Bitcoin remains more or less the same during an hour, only slowly rising as more miners get on-boarded. But the energy consumption of those brought online remains the same over the lifetime of the miner instance itself.
Could you explain me what energy is "wasted" in Proof-of-Work and also how the people currently holding the cryptocurrency is paying for that "waste"?
AFAIK, the same number of blocks are made no matter how many transactions are being made or how many holders there are (or how much each holder "holds"), so the energy consumption of Bitcoin remains more or less the same during an hour, only slowly rising as more miners get on-boarded. But the energy consumption of those brought online remains the same over the lifetime of the miner instance itself.