08-08-2022, 03:31 AM
On this day 12 years ago, Satoshi charmingly and clinically debunked the energy FUD
<!-- SC_OFF --><div class="md"><p>August 7, 2010</p> <p>gridecon posted a bitcointalk thread titled "Bitcoin minting is thermodynamically perverse"</p> <p>By the end of this discussion, only a day later, Satoshi's response changed gridecon's mind about the efficiency of Bitcoin's proof of work.</p> <p><em>"Thanks very much for your reply. I agree with your analysis, and this thread has actually changed my mind as to my initial criticism. After more careful study of the design of the Bitcoin network and trying to understand the exact manner in which Bitcoin attempts to create value from the computational work invested, I am now inclined to think that bitcoin is in fact high EFFICIENT rather than inefficient. My thinking now is that bitcoin does not, in fact "waste" computational work at all - instead it works hard to deliver the most value possible from that computational work."</em></p> <p>There are many fascinating insights from OGs throughout this thread. It's sad that these types of highly intellectual discussions were so common back in the early days with smart critical thinking minds, people willing to listen, learn and admit their mistaken opinions, but now 12 years later we're reduced to proliferation of blatant scams everywhere and mind numbing idiocracy.</p> <p><a href="https://satoshi.nakamotoinstitute.org/posts/bitcointalk/threads/167/#29">https://satoshi.nakamotoinstitute.org/posts/bitcointalk/threads/167/#29</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/KAX1107"> /u/KAX1107 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/wijkcq/on_this_day_12_years_ago_satoshi_charmingly_and/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/wijkcq/on_this_day_12_years_ago_satoshi_charmingly_and/">[comments]</a></span>
<!-- SC_OFF --><div class="md"><p>August 7, 2010</p> <p>gridecon posted a bitcointalk thread titled "Bitcoin minting is thermodynamically perverse"</p> <p>By the end of this discussion, only a day later, Satoshi's response changed gridecon's mind about the efficiency of Bitcoin's proof of work.</p> <p><em>"Thanks very much for your reply. I agree with your analysis, and this thread has actually changed my mind as to my initial criticism. After more careful study of the design of the Bitcoin network and trying to understand the exact manner in which Bitcoin attempts to create value from the computational work invested, I am now inclined to think that bitcoin is in fact high EFFICIENT rather than inefficient. My thinking now is that bitcoin does not, in fact "waste" computational work at all - instead it works hard to deliver the most value possible from that computational work."</em></p> <p>There are many fascinating insights from OGs throughout this thread. It's sad that these types of highly intellectual discussions were so common back in the early days with smart critical thinking minds, people willing to listen, learn and admit their mistaken opinions, but now 12 years later we're reduced to proliferation of blatant scams everywhere and mind numbing idiocracy.</p> <p><a href="https://satoshi.nakamotoinstitute.org/posts/bitcointalk/threads/167/#29">https://satoshi.nakamotoinstitute.org/posts/bitcointalk/threads/167/#29</a></p> </div><!-- SC_ON --> submitted by <a href="https://www.reddit.com/user/KAX1107"> /u/KAX1107 </a> <br/> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/wijkcq/on_this_day_12_years_ago_satoshi_charmingly_and/">[link]</a></span> <span><a href="https://www.reddit.com/r/CryptoCurrency/comments/wijkcq/on_this_day_12_years_ago_satoshi_charmingly_and/">[comments]</a></span>