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swswsw
on Dec 16, 2013
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Bitcoin and the Byzantine Generals Problem
At first glance, mining appears to use a lot of energy. But it has a very important property:
mining is "fair" in money generation.
And being fair may be much more important than the energy consumed.
wmf
on Dec 16, 2013
[–]
Depends how you define fair, I guess. Many people complain about the effects of a fixed block reward with ever-increasing difficulty.
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