No, Musk, don’t blame Bitcoin for dirty energy — The problem lies deeper
Cointelegraph
Published Jun 05, 2021 01:11PM ET
Updated Jun 05, 2021 03:00PM ET
Elon Musk is definitely interested in digital currency, but it seems that he doesn’t want to understand it. At least, I worry that he doesn't have a deep enough understanding of Bitcoin (BTC) and decentralized systems in general.
A decentralized system has to be secure, and proof-of-work (PoW) is the solution for Bitcoin to secure its digital asset. The more successful Bitcoin is, the more energy is required for PoW to secure the network. In other words, the reason that Bitcoin uses up so much more electricity than Dogecoin (DOGE), for example, is because BTC is much more secure than DOGE.
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Written By: Cointelegraph
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