Satoshi's intention has been hijacked by less than a dozen big mining companies. Since mining wastes hundreds of millions annually and is not needed, why are the leaders of bitcoin still using it?
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Satoshi's intention has been hijacked by less than a dozen big mining companies. Since mining wastes hundreds of millions annually and is not needed, why are the leaders of bitcoin still using it?
Well, I guess the answer would be some people think PoW is more secure (or more something else) than PoS.
I'm not endorsing either view, but it's the only answer I know for your question.
Bitcoins electricity consumption and miner fees are certainly tiny compared to the expenses and salary of all the parasitic banks, no?