-6 karma · joined December 16, 2019
Using scare quotes to mean that nobody else says something strikes me as odd, but you're probably correct.
You're making a logical leap between intentional GPU/CPU coins and inefficiency as an explicit design goal. GPU/CPU coin developers are most likely true believers in a distributed security model. They could also own GPU farms or botnets. I highly doubt developers design cryptocurrencies while dreaming of squandering global resources.
I don't disagree with the gist of this, but from a your technical description verges on nonsense. I'm questioning if you're serious.
>...finding a less-efficient algorithm is a design goal...
At no point is anyone searching for an algorithm. Most mining algorithms were chosen at random or for novelty; Bitcoin uses double SHA-256, Litecoin uses scrypt, Primecoin searches for primes.
>...maximise the energy wasted...
Energy is wasted during mining in order to maximize security. The waste is a side effect.
>...in order to impose a global rate limit...
This is plain false.
>..."minting"...
It's called "mining". I wouldn't complain if this wasn't in quotes.
The whitepaper is only nine pages, but nobody seems to read it. https://bitcoin.org/bitcoin.pdf