Topic: Bitcoin going POS sounds like a big joke don't you think? (Read 193 times)
Where's the need of switching to Pos over PoW? Don't you think it's working great with PoW? I think the guy is talking some shit as per his assumption but that will never going to be true. BTC will remain with PoW, may be someone come with a fork with PoS.
It won't happen. Bitcoin will remain with its current consensus which is PoW. The most secure type of it. It helps to make the network secured unlike the PoS.
Not because his business named with bitcoin, he can implement that. A suggestion that won't happen though.
but in current state of bitcoin there is a concrete wall waiting for miners above and it is damn close.Not because his business named with bitcoin, he can implement that. A suggestion that won't happen though.
the energy waste will make mining not profitable at all in next few halvings for sure.
So I predict we won't see all bitcoins mined, and supply will be shut down completely.
I don't believe btc will live after such events, unlike eth tho
It won't happen. Bitcoin will remain with its current consensus which is PoW. The most secure type of it. It helps to make the network secured unlike the PoS.
Not because his business named with bitcoin, he can implement that. A suggestion that won't happen though.
but in current state of bitcoin there is a concrete wall waiting for miners above and it is damn close.Not because his business named with bitcoin, he can implement that. A suggestion that won't happen though.
the energy waste will make mining not profitable at all in next few halvings for sure.
So I predict we won't see all bitcoins mined, and supply will be shut down completely.
I don't believe btc will live after such events, unlike eth tho
If the community wants it and it is proven a successful and secure way to validate transactions. For now though, as far as I know, PoW is the most secure one and it will most likely not change for a long, long time.
Changing to PoS would probably create another fork off the BTC chain because the division of the community. On the other hand though, changing the way to validate txs doesn't make sense because those who want BTC to go PoS are in minority compared to when a considerable part of the community wanted BCH to happen..
Satoshi left his project alive for us to continue it and make it better. He surely knew there were flaws here and there, but the way he created BTC and its blockchain from the beginning is ingenious.
Changing to PoS would probably create another fork off the BTC chain because the division of the community. On the other hand though, changing the way to validate txs doesn't make sense because those who want BTC to go PoS are in minority compared to when a considerable part of the community wanted BCH to happen..
Satoshi left his project alive for us to continue it and make it better. He surely knew there were flaws here and there, but the way he created BTC and its blockchain from the beginning is ingenious.
Not possible to me, even if it's somehow going to be possible this move will ruin everything, this year we are all on hype because of Bitcoin halving which makes it more scarce, if POS comes in play there will be no more halving
Not impossible but highly unlikely in this era. Bitcoin will be fully PoW until almost nothing is left to mine, and then we will see miners switch off when it is not profitable, but nodes will remain to validate and BTC will be so expensive at this time even the small fees and nodes from lightning will be earning more than enough for everyone.
Niklas Nikolajsen, the founder of Swiss crypto broker Bitcoin Suisse, predicts that Bitcoin (BTC) will move to Proof-of-Stake (PoS) once the Ethereum (ETH) network has proved the algorithm’s success.
How can this be possible when Satoshi Nakamoto is nowhere to be found? Share your thoughts
Full news link
https://cointelegraph.com/news/bitcoin-will-follow-ethereum-and-move-to-proof-of-stake-says-bitcoin-suisse-founder/amp
The POW of Bitcoin is what makes the coin better and secured, going proof of stake is not possible, your post sounds like an opinion which means it's not a fact, even the community will never accept Bitcoin going POS How can this be possible when Satoshi Nakamoto is nowhere to be found? Share your thoughts
Full news link
https://cointelegraph.com/news/bitcoin-will-follow-ethereum-and-move-to-proof-of-stake-says-bitcoin-suisse-founder/amp
I thought it was going for real, it was only a prediction anyway and it's not going to happen though. You see, Bitcoin remains as it is since its creation though the price has been always a roller coaster, it will not change the fact that Bitcoin is the main Cryptocurrency here. that won't change by any other counterparts. The reason they saying this kind of prediction is there hunger for their coins to get much attention from the investors.
This is why articles cant be a good source of facts. Of course this is just an opinion and hearsays. How come a trusted bitcoin will shift to a more newer consensus in spite of being the first one to utilize PoW. Yes proof of stake is good and newer one but we can disagree to its some of context that running PoS is better than PoW. I am not against eth plan but who in their right mind will honestly believe in this news?
I am very sure these guys want to be making more money without hard work, POW is more secured and more decentralized, the world has enough power and equipment to keep this running. Whatever way, this is dependent on the community based on consensus, my prediction is that miners will reject this.
Trust me, that won't happen ever else all the mining equipment will become dust in a moment if this becomes true. PoS is good and it may be good for Eth, but for BTC to keep its worth, it needs to work as it is and I don't think we need any kind of interferences in such crucial matters. The guy who said this, doesn't know/understand the power and unity of miners (yeah, they leave sometimes but then, difficulty adjusts too to the remaining ones' levels). I'd never support any such ideas and will even boycott if needed, because it's the hardwork that pays off and if the big boys will just take their share and keep holding, whom of us will be getting anything in BTC? Though everything is partially centralized, things will then be fully controlled and centralized once this happens.
Niklas Nikolajsen, the founder of Swiss crypto broker Bitcoin Suisse, predicts that Bitcoin (BTC) will move to Proof-of-Stake (PoS) once the Ethereum (ETH) network has proved the algorithm’s success.
How can this be possible when Satoshi Nakamoto is nowhere to be found? Share your thoughts
Full news link
https://cointelegraph.com/news/bitcoin-will-follow-ethereum-and-move-to-proof-of-stake-says-bitcoin-suisse-founder/amp
How can this be possible when Satoshi Nakamoto is nowhere to be found? Share your thoughts
Full news link
https://cointelegraph.com/news/bitcoin-will-follow-ethereum-and-move-to-proof-of-stake-says-bitcoin-suisse-founder/amp
It is only possible if 51% miners agree to change the algorithm from POW to POS. Otherwise, that is not going to happen! So if the majority ofbthe community thinks that POS is the way forward, bitcoin can definitely move to POS.
I believe, it will allow a lot more people to participate in the bitcoin network effectively and mine. But yes, a lot of mining companies who have invested millions in setting up their mining firm, will become useless overnight. That may have cascading effects on the bitcoin network.
But it's very unlikely to happen!
PoW is one of the core features of bitcoin. I am not sure changing that without a valid reason would be good.
Lots of people made lots of investments into PoW after all. Changing the PoW might make them lose their trust in bitcoin. Not to mention that you need the votes of those who made investments in mining. It worked well with segwit before but our luck can't last forever. I believe leaving PoW would be damaging.
PoS also means removing the supply cap so it is a big no no.
Not necessarily bitcoin itself is designed to work with the fees when miners run out of what to mine, why can't PoS do the same then? Think I might remember something regarding but would be nice if you detailed a bit. Lots of people made lots of investments into PoW after all. Changing the PoW might make them lose their trust in bitcoin. Not to mention that you need the votes of those who made investments in mining. It worked well with segwit before but our luck can't last forever. I believe leaving PoW would be damaging.
PoS also means removing the supply cap so it is a big no no.
PoW is one of the core features of bitcoin. I am not sure changing that without a valid reason would be good.
Lots of people made lots of investments into PoW after all. Changing the PoW might make them lose their trust in bitcoin. Not to mention that you need the votes of those who made investments in mining. It worked well with segwit before but our luck can't last forever. I believe leaving PoW would be damaging.
PoS also means removing the supply cap so it is a big no no.
Lots of people made lots of investments into PoW after all. Changing the PoW might make them lose their trust in bitcoin. Not to mention that you need the votes of those who made investments in mining. It worked well with segwit before but our luck can't last forever. I believe leaving PoW would be damaging.
PoS also means removing the supply cap so it is a big no no.
Niklas Nikolajsen, the founder of Swiss crypto broker Bitcoin Suisse, predicts that Bitcoin (BTC) will move to Proof-of-Stake (PoS) once the Ethereum (ETH) network has proved the algorithm’s success.
How can this be possible when Satoshi Nakamoto is nowhere to be found? Share your thoughts
Full news link
https://cointelegraph.com/news/bitcoin-will-follow-ethereum-and-move-to-proof-of-stake-says-bitcoin-suisse-founder/amp
How can this be possible when Satoshi Nakamoto is nowhere to be found? Share your thoughts
Full news link
https://cointelegraph.com/news/bitcoin-will-follow-ethereum-and-move-to-proof-of-stake-says-bitcoin-suisse-founder/amp
That's pretty interesting. I like POS, since it allows ANYONE to increase their holdings through staking, mining is only for people who can afford expensive mining hardware, and thus makes it a bit too centralized (at least with BTC).
There's a lot of people who are against POS, since the "rich get's richer", but that's the same in real life, dividends paid by banks benefits rich people more than the poor (unless we get negative interest rates obviously).
I'v'e been staking my BLOCK for a while now, and enjoy the passive income aspect it gives me, I make around $100/ month without doing anything, and I must admit it's good gas money, if I where to spend it right now, I'm hopeful that my holdings will increase in value, (with the rest of the altcoin market), hopefully enough to retire some day!
It won't happen. Bitcoin will remain with its current consensus which is PoW. The most secure type of it. It helps to make the network secured unlike the PoS.
Not because his business named with bitcoin, he can implement that. A suggestion that won't happen though.
Not because his business named with bitcoin, he can implement that. A suggestion that won't happen though.
Niklas Nikolajsen, the founder of Swiss crypto broker Bitcoin Suisse, predicts that Bitcoin (BTC) will move to Proof-of-Stake (PoS) once the Ethereum (ETH) network has proved the algorithm’s success.
How can this be possible when Satoshi Nakamoto is nowhere to be found? Share your thoughts
Full news link
https://cointelegraph.com/news/bitcoin-will-follow-ethereum-and-move-to-proof-of-stake-says-bitcoin-suisse-founder/amp
How can this be possible when Satoshi Nakamoto is nowhere to be found? Share your thoughts
Full news link
https://cointelegraph.com/news/bitcoin-will-follow-ethereum-and-move-to-proof-of-stake-says-bitcoin-suisse-founder/amp
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