Hi
These are very valid points, I will have to research this idea that they don’t secure the network. Very interesting. The description fir the miners says your competing for blocks, so now that you told me this I have to dig deep and see where I am misinterpreting this to mean actual mining. 

I agree with you that POW isn’t a waste of electricity, it is a use of electricity. No one says using electricity to watch TV shows which create no value are a waste, but the world stage is full of subjectivities.

Thanks for your comment and stimulating me to learn more.

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