Comment on “Proof-of-work” proves not to work for spam prevention (2004) [pdf]parentComments−lisper4ysuppose Bitcoin consumed as much energy as a few householdsThat's not possible. The marginal cost of mining has to equal the value of the coins mined.−mgraczyk4yThe cost can come from things that do not consume energy, for example fabricating a complex chip that includes rare materials.−lisper4yAnd where do you think those rare materials come from?−slavik814ySo, proof-of-gold?
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That's not possible. The marginal cost of mining has to equal the value of the coins mined.
The cost can come from things that do not consume energy, for example fabricating a complex chip that includes rare materials.
And where do you think those rare materials come from?
So, proof-of-gold?