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Topic: [2014-08-31] Proof-of-stake vs Proof-of-work (Read 1365 times)

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August 30, 2014, 11:22:57 PM
#1
http://www.cryptocoinsnews.com/news/bitcoins-future-proof-of-stake-vs-proof-of-work/2014/08/30

It’s no secret that merchants who immediately sell their Bitcoin for fiat currency create downward pressure on the Bitcoin price, but the merchants aren’t the only people to blame. The proof-of-work (POW) system used by Bitcoin and other cryptocurrencies fails to create an incentive for miners to hold onto their coins. That means that as much as 3,600 BTC may be sold per day to pay for electricity and rent, alone. The mined bitcoins alone has a value of more than 180 000 USD.
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