Proof of Waste; that’s a headline that could generate a lot of controversy and debate in the crypto world. I made it sensationalist to make you think. Thinking about both sides of any debate is important and group-think is a way of shooting yourself in the foot, because it’s too dismissive of the importance that others may imbue onto something.
I’d like to start this article by saying that I absolutely love Bitcoin, it’s ingenious and Proof of Work (PoW) has been a very powerful concept in our space. PoW is one of the cornerstone concepts that birthed the whole space. But that doesn’t mean that we shouldn’t think about it a while and most importantly, think about it form the point of view of people who are not yet initiated into cryptocurrencies. Satoshi, though genius, is not a god and though brilliant, we should not assume that the design of Bitcoin is the best that we can do as a species.