📅 Original date posted:2021-05-18
📝 Original message:On Mon, May 17, 2021 at 11:47 PM ZmnSCPxj:
>
> When considering any new proof-of-foo, it is best to consider all effects
> until you reach the base physics of the arrow of time, at which point you
> will realize it is ultimately just another proof-of-work anyway.
>
Let's not simplify away economic considerations, such as externalities.
The whole debate about the current PoW is about negative externalities
related to energy production.
Depending on the details, CAPEX (R&D, real-estate, construction,
production) may have less externalities, and if that's the case, we should
be interested in adopting a PoW that is intensive in these types of CAPEX.
On Mon, May 17, 2021 at 2:20 PM Keagan McClelland wrote:
First it just pushes the energy consumption upstream to the chip
> manufacturing process, rather than eliminating it. And it may trade some
> marginal amount of the energy consumption for the set of resources it takes
> to educate and create chip manufacturers. The only way to avoid that cost
> being funneled back into more energy consumption [...]
>
I challenge you to substantiate these assertions. Real-estate and human
cognitive work are not energy intensive and are a major factor in the
expected costs of some alternative PoWs. The expected mining effort is
such that the cost will reach the expected reward, no more, so there is
every reason to believe that energy consumption will be small compared to
the current PoW.
Therefore, the total associated negative externalities for the alternative
PoWs may well be much lower than the externalities of energy production.
This needs detailed analysis, not a knee-jerk reaction.
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Devrandom [ARCHIVE] /
npub1j0…w9k8n
2023-06-07 22:53:41
in reply to nevent1q…xrm9
Author Public Key
npub1j0js72tmnxzmrtd6j0j5wcvfuhsqwgqxdwkpmw28rmmuy22y3wzsdw9k8nPublished at
2023-06-07 22:53:41Event JSON
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"content": "📅 Original date posted:2021-05-18\n📝 Original message:On Mon, May 17, 2021 at 11:47 PM ZmnSCPxj:\n\n\u003e\n\u003e When considering any new proof-of-foo, it is best to consider all effects\n\u003e until you reach the base physics of the arrow of time, at which point you\n\u003e will realize it is ultimately just another proof-of-work anyway.\n\u003e\n\nLet's not simplify away economic considerations, such as externalities.\nThe whole debate about the current PoW is about negative externalities\nrelated to energy production.\n\nDepending on the details, CAPEX (R\u0026D, real-estate, construction,\nproduction) may have less externalities, and if that's the case, we should\nbe interested in adopting a PoW that is intensive in these types of CAPEX.\n\nOn Mon, May 17, 2021 at 2:20 PM Keagan McClelland wrote:\n\nFirst it just pushes the energy consumption upstream to the chip\n\u003e manufacturing process, rather than eliminating it. And it may trade some\n\u003e marginal amount of the energy consumption for the set of resources it takes\n\u003e to educate and create chip manufacturers. The only way to avoid that cost\n\u003e being funneled back into more energy consumption [...]\n\u003e\n\nI challenge you to substantiate these assertions. Real-estate and human\ncognitive work are not energy intensive and are a major factor in the\nexpected costs of some alternative PoWs. The expected mining effort is\nsuch that the cost will reach the expected reward, no more, so there is\nevery reason to believe that energy consumption will be small compared to\nthe current PoW.\n\nTherefore, the total associated negative externalities for the alternative\nPoWs may well be much lower than the externalities of energy production.\nThis needs detailed analysis, not a knee-jerk reaction.\n-------------- next part --------------\nAn HTML attachment was scrubbed...\nURL: \u003chttp://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20210518/15c18301/attachment.html\u003e",
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