Amusing coincidence, the same day Fred Wilson posts about decentralized media platform, a former Reddit engineer and Bitcoin aficionado announces that he is going to do it.
“Expending electricity on unproductive work is inherent to Bitcoin’s security. Multiple approaches to eliminating this have been proposed, none of which solve the problem satisfactorily, and are usually unusable, insecure, or completely fallacious. I’ll explain what Bitcoin at core is, why and how much waste there is in it, what approaches to removing that waste are, and how they fail.”