Topic: Bitcoin as a POS coin? POS>POW (Read 77 times)

Sorry to be blunt, but it really doesn't. 

You're only about the 38742th person to propose the idea.  It's not any more appealing now than it was when people were suggesting it 4 or 5 years ago.  Everyone who has an opinion on this has already given it a dozen times or more.  It's not changing.  As you mentioned, there are existing coins that already utilise PoS, so just go use one of those.

Hi, everybody. I fully support your mood and think that it is time to Express your opinion publicly and come to new decisions. there are very rich and influential people who can crush bitcoin and make it as centralized and controlled.

At the present moment a hybrid system is an option...

My intuition ( I'm not based on scientific data ) tells me that a POS can lead to a more rapidly centralisation, (therefore 51% attack) see how price fluctuate in favor of big whales POW is a bit more difficult because it is harder to move an entire datacenter hardware operation gear from one hand to another ...

the POS mechanism is lesser cost and more eco friendly than POW indeed.
i think bitcoin will change into POS mode from POW mode when bitcoin mined about a certain blocks.

Well, bitcoin has always been using POW bru

I agree with you that POS is better than POW in different cases. POS works really fast and consumes less energy while POW takes much time to do its work. So, I don't think Bitcoin will take POW into consideration.

im totally with you bra, POW is not the right model.

Proof of work has a lot of downsites, the energy cumsomption just huge with pow.
i believe it is impossible that btc become nr1 world currency with POW.
not only that it is slower that POS, it is also consuming too much energy.

; look at the cryptomarket, the people are saying that it is still a so young market, so unadopted with so much potential to grow 5x 10x 100x or even 1000x its actual size.
now think about the news you already head about the energy consumption of POW.
You hear that it is already consuming as much energy as small countrys.
And where are we at? 5-10tx/s?
to become a nr1 world currency we'll need hundret thausends of tx/s.
With POW? not with me, i love motherearth and i want that she is fine.
 
but there are more downsites, It is just not fair. Its if more benefitial for those who already own a lot then for those who own less. with POW, owing 20% of the processing power doesnt mean you have 2x more advantage then somebody that owns 10%. because there is somthing called economy of scale, it says that as more you buy, as cheaper it gets. so somebody making millions of millions with mining, can buy much more hardware with their money in ralation to somebody buing hardware with less money. dui to economy of scale, as more you buy, as more discoint you get. this leads to big miningfarms growning faster that is good for the balance. with POW, in some years some players might reach the 51% hashpower required to attack the system.

POS, is the opposite, it is just using a fraction of the POW required hashpower and makes even more Tx/s. it cost less energy and is faster at the same time.
it is also even way saver then POW, imagine you want to hack a POS blockchain.
what yould you need? you would nedd 51% of the total money to put is in stake, since in POS you kind of "mine" with your stake. So, why would someone that owns 51% of a system, would want to hack that system? i dont know, since after a big hack the prices might drop rapidly and that might result in a loss of money of the hacker and he also might loose his whole stake(51%of market). why would he want to risk that?
POS is fair. if you have 10% of the money in the stake youll get 10% of the benefits. thus no one can grow exponentially faster then somebody elso, resulting in a more balanced coin and mining allocation.

and there are even more reasons but i think you get the bigger picture!

POS > POW!!!

P.s: i think it is really sad that the majority of the btc community is kind of blind to this huge problem. and i think its because the mining is a good way to make money. when i think about what it says about our community, it kind of makes me sad.

I realize I posted this during off hours, but this deserves more consideration than it's gotten.

 Given the main problems are an inept and corrupt dev team and manipulation by mining pools like Antpool. Would the BTC community be open to POS instead of POW?

 Satoshi wanted transactions processed by users. POS is processed either on your home PC or on a VPS. POS is out the door faster than POW and consumes much less power.

 Mining pools would be a thing of the past, ASIC manufacturers would die out as well. You'd need to own the majority of the coins to do a 51% attack, not 51% of the hash power. China can gain 51% of the hash power if the government were to coordinate with the ASIC manufacturers.

 While many POS coins were poorly coded and failed, PivX, NEO and a few others have proven it can be secure. Ethereum will eventually go POS, if they can work out their governance.

Future updates would only need the consent of the nodes, nodes with a stake would be ideal to prevent sabotage.

 I think it's time the crypto community gets serious about adoption and stop fighting/sabotaging. We have bigger enemies in the banks/state actors and FUD factories.