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by hootbootscoot
1631 days ago
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I have no notion of what metaphor you are referring to.
In real life, POW is a waste of electricity that produces nothing external to
proving that CPU cycles were wasted, with an ever-increasing difficulty in the case of Bitcoin (getting worse with time, on purpose) |
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> an ever-increasing difficulty in the case of Bitcoin (getting worse with time, on purpose)
This is not how Bitcoin's difficulty adjustment works. It increases/decreases with the value of the block reward. This is proportional to the value of bitcoin, transaction fees paid, and decreasing new bitcoin issuance. Bitcoin users pay miners for their PoW because they find the value of using such a system to be worth the cost.