Three reasons Ethereum can outperform Bitcoin | Crypto Craft

  • Three reasons Ethereum can outperform Bitcoin

    From blog.hycmlab.com

    There is a huge battle going on for crypto dominance and Bitcoin has one distinct disadvantage over Ethereum; it is too static in its development. Well, this is the case below that Bloomberg make for Bitcoin being surpassed by Ethereum. Firstly, the pseudonymous Satoshi Nakamoto has left a shadow over Bitcoin via his white paper that makes Bitcoin ill-suited to adapt to a world that is changing around his invention. Yes, he was able to solve the problem of trust in a trustless digital realm, but things move on. Secondly, Ethereum’s blockchain has developed. They had an active development team that pushed ... (full story)

Comment Options
Hasher
Jun 22, 2021 12:42pm
Permalink
Quoting letaptimas
We cannot compare the power used to make employee's comfortable to the power used to mine crypto. We can however compare the power consumption to mint, store and process tangible currencies and the other examples noted by cityRat. I like this, its like a little debate but who it the opposition.
Why not? Mining facilitates both minting and transacting, seems to be it should be compared to the power used for minting/transacting fiat.
Reply
cityRat
Jun 22, 2021 9:11am
Permalink
Quote
Thirdly, one of the negatives to Bitcoin is that it is power-hungry to mine. The energy of a small country is involved in Bitcoin mining year by year.
How much power is used to run all the world's banks? Their physical branches? The power to make their millions of employees feel comfortable while sitting in a desk in those buildings? How much power does Visa use? How much power is used by the military in supporting their country's currencies? The "power-hungry" argument is laughable at best.
Reply
letaptimas
Jun 22, 2021 12:17pm
Permalink
We cannot compare the power used to make employee's comfortable to the power used to mine crypto. We can however compare the power consumption to mint, store and process tangible currencies and the other examples noted by cityRat.

I like this, its like a little debate but who it the opposition.
Reply
letaptimas
Jun 23, 2021 3:51pm
Permalink
Quoting Hasher
{quote} Why not? Mining facilitates both minting and transacting, seems to be it should be compared to the power used for minting/transacting fiat.
Yes we agree.

We cannot compare the power used to make employee's comfortable to the power used to mine crypto. Making employees comfortable can only be measured in satisfaction. A variable which differs amongst individuals.

We can however compare the power consumption to mint, store and process tangible currencies and the other examples. (Mining facilitates both minting and transacting, seems to be it should be compared to the power used for minting/transacting fiat) same

I smell strawberries, must be another strawberry cheesecake, best investigate incase a taste tester is needed.
Reply
cityRat
Jun 22, 2021 2:35pm
Permalink
Also, why even bring up the power consumption of something if it's a service we use?

Do we feel guilty when using power for transportation, to turn on the lights, to watch a TV show? Nope.

If anything, it's power efficient. Miners are paying actual money for the energy, and they will do everything in their ...power... to get the lowest price. Bitfarms, a miner who uses 99% hydro-electricity, just went public on Nasdaq yesterday.
Reply
  • Story Stats