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Topic: Both PoW and PoS algos are scams. Here's why. - page 4. (Read 495 times)

member
Activity: 70
Merit: 15
The Proof-of-Work algorithm and the Proof-of-Stake algorithms are scams. Proof-of-Work algorithm actually costs more than it makes. This is why every single Proof-of-Work algorithm crypto has to be supported with FIAT money, which honestly speaking makes them all hybrid PoW/PoS. Proof-of-Stake is a scam because it's just money backed with money.
You seem to lack the technical knowledge and how these algorithms work and what purposes they serve, it easily indicates that your knowledge about these is superfacial and you have just built your opinion without digging up the topic in detail, I will suggest to read the technical papers of how pow and pos work and what purpose they serve then you will realize that you knew nothing while posting this.

I don't. They just vacuum cash to sustain any kind of value. There is no external demand from the general population for anything that the miners produce with their expensive hardware.
full member
Activity: 952
Merit: 110
Honestly I'm a bit disappointed about this your post OP, you need to do research on the power of demand and supply to really understand proof of work and proof of stake algorithm, calling Algorithms scam doesn't make sense
member
Activity: 756
Merit: 13
DIFX - Digital Finacial Exchange
The Proof-of-Work algorithm and the Proof-of-Stake algorithms are scams. Proof-of-Work algorithm actually costs more than it makes. This is why every single Proof-of-Work algorithm crypto has to be supported with FIAT money, which honestly speaking makes them all hybrid PoW/PoS. Proof-of-Stake is a scam because it's just money backed with money.
You seem to lack the technical knowledge and how these algorithms work and what purposes they serve, it easily indicates that your knowledge about these is superfacial and you have just built your opinion without digging up the topic in detail, I will suggest to read the technical papers of how pow and pos work and what purpose they serve then you will realize that you knew nothing while posting this.
member
Activity: 70
Merit: 15
The Proof-of-Work algorithm and the Proof-of-Stake algorithms are scams. Proof-of-Work algorithm actually costs more than it makes. This is why every single Proof-of-Work algorithm crypto has to be supported with FIAT money, which honestly speaking makes them all hybrid PoW/PoS. Proof-of-Stake is a scam because it's just money backed with money.
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