1. True randomness is not possible. 2. For a fair distribution of newly minted bitcoins the buyer must determine the cost he is ready to shell out. It is a free market and this is the price free market has set. 3. For a reference you can think of the same for Gold. Say gold reserves dies down, the price of gold increases. More resources are spent on mining gold. Would you say that is a waster of resources?1. True randomness is not possible. 2. For a fair distribution of newly minted bitcoins the buyer must determine the cost he is ready to shell out. It is a free market and this is the price free market has set. 3. For a reference you can think of the same for Gold. Say gold reserves dies down, the price of gold increases. More resources are spent on mining gold. Would you say that is a waster of resources? #notesToSelf

Bitcoins difficulty adjustment makes sure that POW is cheapest in all the scenarios.

This is almost zen level :P

Find out more about how the creator of next block is selected.

This is brutal