I mean an image. You know a nice one that people can put on their checkout webpages.
What else do you use to determine who is (approximately) one person?
With a global p2p network, it is necessary to have all nodes receive the transaction, do some calculations and send results back.
The utility of the exchanges made possible by Bitcoin will far exceed the cost of electricity used.
If knight's "trust everyone collectively" meant, "trust in the process" I find that insightful and a good motto.
If people believe that bitcoin is simply a way for botnet herders to convert spare cpu cycles into cash, they are unlikely to participate.
But I do think that is is really important to point out that all that CPU power and electricity usage is absolutely NOT required for the...
I believe that the amount of energy input required to the bitcoin economy represents a serious obstacle to its growth.