I can’t believe I have to keep reiterating the core point, but here we go again: the flaw in proof-of-work as used in Bitcoin is that you have to expend 50% of all the computing power in the universe, for the rest of time in order to keep the currency stable (67% if you want to go for the full Byzantine model).

Ben Laurie, "An Efficient and Practical Distributed Currency"
https://www.links.org/?p=1183

Ben Laurie, "An Efficient and Practical Distributed Currency"
daniel shinbaum - 0x salon
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