RE:RE:Larry Berman on BIT 06/18/2018Hey 2fast, Yes you got it right , copied from his written article :
One hope for changing this is a change in technology in how Bitcoin is created. Bitcoin transactions are verified in what is called proof-of-work consensus algorithm. More energy efficient algorithms, like proof-of-stake, have been in development over recent years. In proof-of-stake coin owners create blocks rather than miners, thus not requiring power hungry machines that produce as many hashes per second as possible. If the miners disappear, so too will much of the hype I would bet. Because of this, the energy consumption of proof-of-stake is negligible compared to proof-of-work and would obviously be part of a longer-term solution. Bitcoin could potentially switch to such a consensus algorithm, which would significantly improve sustainability. The only downside is that there are many different versions of proof-of-stake, and none of these have fully proven themselves yet and are years away. Nevertheless, the work on these algorithms offers good hope for the future. Based on the current price of Bitcoin, it is estimated that breakeven in terms of estimated cost of mining may be around $2,000-3,000 today. You can bet these “breakeven levels will be tested before long
I still think Base metal and silver is the way to make money when getting in on corrections, or at least not to loose much looooooooool