What is it going to take for this sort of thinking to end:
Mr. Van Valkenburgh said that for now, throwing lots of computing power into the mix — and the electricity that it burns — was the only proven solution to the problems Bitcoin solves.
At the moment, if you want robust security, you need proof of work,” he said.
Peter Van Valkenburgh is Research Director at coincenter.org:
"Based in Washington, D.C., Coin Center is the leading non-profit research and advocacy center focused on the public policy issues facing cryptocurrency and decentralized computing technologies like Bitcoin and Ethereum.
Our mission is to build a better understanding of these technologies and to promote a regulatory climate that preserves the freedom to innovate using permissionless blockchain technologies."
One of Bitmain’s Bitcoin mines in Ordos, Inner Mongolia, China
If coin center really is a playing voice for “public policy issues facing cryptocurrency and decentralized computing technologies” we are doomed.