If Larsen's justifications ever had viable merit, he'd have at least a little success with his own alt, or proven it with another alt in the many years since then.
Not saying PoS is entirely crap (I suppose it security weren't a major factor and you do want a blockchain just for playing games or messing with nfts that won't ever be worth anything, it's a brilliant way to use blockchain without worrying about 51%) but as pointed out, there simply isn't enough incentive to switch over. Not for the miners, certainly not for the users.
Cost benefit, people keep forgetting. Yes Bitcoin cost of maintenance is high. But what comes close to matching the benefit?
Topic: "Change the Code, Not the Climate" FUD campaign coming next month - page 3. (Read 597 times)
March 29, 2022, 05:25:20 AM
March 29, 2022, 05:09:58 AM
Nothing will come out of this, or maybe just another alt as BSV and the BCH claiming to be the true green Bitcoin. Probably just a new way for a quick buck for some people selling the news, and probably many newbies will be fooled by this new "green" bitcoin but the original idea won't change any time soon as it has proven as the best solution by now.
As usual, they won't become successful because they are only copycats of the original and there are lots of them who were created by those fools who wanted to get themselves some chunk of the popularity of bitcoin today. some of them went to invest their own stories like cult leaders just to get the investor's attention which lead to many investment losses because their promises weren't real and they've just hidden the fact that they are only creating this coin to pull the investors to their coin which doesn't really work till now.
March 29, 2022, 04:33:10 AM
I have always believed that considering the greater purpose of Bitcoin the energy issue is just nothing. These FUD's are a well planned propoganda and not just stupidity. It is a bit late now for them to come with such FUD. Bitcoin's growth is inevitable now.
March 29, 2022, 03:43:15 AM
If they're expecting investors to care about the planet, they're going to be quite disappointed.
And sure, a bunch of mining pools and a few people could have the power to change how the network mines but who's going to incentivise them to not want to make money and give up their infrastructure.
The moment they mention exchanges having to be involved in changing the protocol is probably the moment we can assume they don't actually know how they're going to do it without widespread adoption of a shitcoin that can replace bitcoin (and enough have already failed at that).
And sure, a bunch of mining pools and a few people could have the power to change how the network mines but who's going to incentivise them to not want to make money and give up their infrastructure.
The moment they mention exchanges having to be involved in changing the protocol is probably the moment we can assume they don't actually know how they're going to do it without widespread adoption of a shitcoin that can replace bitcoin (and enough have already failed at that).
March 29, 2022, 03:07:57 AM
A group of people are going to campaign for a change in how Bitcoin works.
They will buy ads in mainstream media publications to spread some FUD about Bitcoin's proof of work.
A campaign? What kind of campaign? Obviously those people don't know how Bitcoin works. Make a BIP, and post it in the developer's mailing list, then see how the far proposal goes.
Quote
Chris Larsen, who founded his own altcoin 2012, is going to be one of the people funding this campaign:
Larsen said Bitcoin’s power consumption issue could be fixed via a soft or a hard fork -- both changing the network’s code to make Bitcoin less power hungry. A soft fork would preserve Bitcoin as a single blockchain. A hard fork would split Bitcoin into two separate networks, one supporting miners and the other running different code -- perhaps Proof of Stake.
The campaign believes that about 50 key miners, crypto exchanges and core developers have the power to change Bitcoin’s code.
The campaign believes that about 50 key miners, crypto exchanges and core developers have the power to change Bitcoin’s code.
The Ripple CEO? He's a mere shitcoin swindler, not a coder.
Plus "50 key miners, crypto exchanges and core developers have the power to change Bitcoin’s code"? They forgot about BIP-148.
March 29, 2022, 02:58:38 AM
Nothing will come out of this, or maybe just another alt as BSV and the BCH claiming to be the true green Bitcoin. Probably just a new way for a quick buck for some people selling the news, and probably many newbies will be fooled by this new "green" bitcoin but the original idea won't change any time soon as it has proven as the best solution by now.
March 29, 2022, 02:41:13 AM
In other words they are now admitting that they will be spending money to spread FUD whereas all these years they have been doing the same exact thing without admitting it.
Hear is the leading propagandist spreading misinformation trying to fool people into accepting his own shitcoin's fork to PoS is a good thing: https://vitalik.ca/general/2020/11/06/pos2020.html
Why? It's simple him and his foundation own about 72 million ether which they premined and is worth $246 billion. In PoW they can not make any money from those premined coins without selling them, that means it is worth $0 for them right now. However, in PoS they don't need to sell any coins, they will be paid ONLY because they own the premined coins and can sell that reward aka money-out-of-thin-air without losing their 100% control over the network.
Don't stop fighting the propaganda; https://bitcointalksearch.org/topic/megathread-the-long-known-pow-vs-pos-debate-5387588
PoS is a failed idea from 2012 that was proven to be flawed and useless 10 years ago.
Goodluck convincing the community that's pretty much the biggest PoS critics, to hardfork their chain into the thing they're most critical about lmao.
Don't underestimate the power of brainwash. PoS wasn't created yesterday but the brainwash did which is why we keep seeing it come up every day for the past year or so.Hear is the leading propagandist spreading misinformation trying to fool people into accepting his own shitcoin's fork to PoS is a good thing: https://vitalik.ca/general/2020/11/06/pos2020.html
Why? It's simple him and his foundation own about 72 million ether which they premined and is worth $246 billion. In PoW they can not make any money from those premined coins without selling them, that means it is worth $0 for them right now. However, in PoS they don't need to sell any coins, they will be paid ONLY because they own the premined coins and can sell that reward aka money-out-of-thin-air without losing their 100% control over the network.
Don't stop fighting the propaganda; https://bitcointalksearch.org/topic/megathread-the-long-known-pow-vs-pos-debate-5387588
PoS is a failed idea from 2012 that was proven to be flawed and useless 10 years ago.
March 29, 2022, 01:42:22 AM
A group of people are going to campaign for a change in how Bitcoin works.
They will buy ads in mainstream media publications to spread some FUD about Bitcoin's proof of work.
Chris Larsen, who founded his own altcoin 2012, is going to be one of the people funding this campaign:
But of course, Bitcoin will just continue independent of this campaign:
They will buy ads in mainstream media publications to spread some FUD about Bitcoin's proof of work.
Chris Larsen, who founded his own altcoin 2012, is going to be one of the people funding this campaign:
Larsen said Bitcoin’s power consumption issue could be fixed via a soft or a hard fork -- both changing the network’s code to make Bitcoin less power hungry. A soft fork would preserve Bitcoin as a single blockchain. A hard fork would split Bitcoin into two separate networks, one supporting miners and the other running different code -- perhaps Proof of Stake.
The campaign believes that about 50 key miners, crypto exchanges and core developers have the power to change Bitcoin’s code.
The campaign believes that about 50 key miners, crypto exchanges and core developers have the power to change Bitcoin’s code.
But of course, Bitcoin will just continue independent of this campaign:
Whether the campaign will work is a different story. Bitcoin miners -- earning more than $15 billion last year, according to data from The Block Research -- would have to be given incentives to switch. Shifting to Proof of Stake is technologically complex, and it has taken Ethereum years to develop and to test the code necessary for the change. Perhaps more importantly, many Bitcoin diehards are adamant against changing the system created by Satoshi Nakamoto, the pseudonymous person or group credited with developing the software.
“I’d put the chance of Bitcoin ever moving to PoS at exactly 0%,” said Chris Bendiksen, a Bitcoin researcher at CoinShares and one of the world’s leading experts on Bitcoin mining. “There is no appetite among Bitcoiners to destroy the security of the protocol by making such a move.”
“I’d put the chance of Bitcoin ever moving to PoS at exactly 0%,” said Chris Bendiksen, a Bitcoin researcher at CoinShares and one of the world’s leading experts on Bitcoin mining. “There is no appetite among Bitcoiners to destroy the security of the protocol by making such a move.”
Don't know, from a technical standpoint, if those things are possible (but I am sure the people campaigning for it know that), but those types of changes will have to be addressed if we expect mass adoption. The idea that things could technologically and ideologically stay the same is wishful thinking and even pessimistic thinking that this system can't get any better or be improved on. If that's really the case, than it's not a good system, to begin with.
March 29, 2022, 01:36:20 AM
Goodluck convincing the community that's pretty much the biggest PoS critics, to hardfork their chain into the thing they're most critical about lmao. It's like convincing Snoop Dogg to stop smoking weed.
March 29, 2022, 01:22:50 AM
A group of people are going to campaign for a change in how Bitcoin works.
They will buy ads in mainstream media publications to spread some FUD about Bitcoin's proof of work.
Chris Larsen, who founded his own altcoin 2012, is going to be one of the people funding this campaign:
But of course, Bitcoin will just continue independent of this campaign:
They will buy ads in mainstream media publications to spread some FUD about Bitcoin's proof of work.
Chris Larsen, who founded his own altcoin 2012, is going to be one of the people funding this campaign:
Larsen said Bitcoin’s power consumption issue could be fixed via a soft or a hard fork -- both changing the network’s code to make Bitcoin less power hungry. A soft fork would preserve Bitcoin as a single blockchain. A hard fork would split Bitcoin into two separate networks, one supporting miners and the other running different code -- perhaps Proof of Stake.
The campaign believes that about 50 key miners, crypto exchanges and core developers have the power to change Bitcoin’s code.
The campaign believes that about 50 key miners, crypto exchanges and core developers have the power to change Bitcoin’s code.
But of course, Bitcoin will just continue independent of this campaign:
Whether the campaign will work is a different story. Bitcoin miners -- earning more than $15 billion last year, according to data from The Block Research -- would have to be given incentives to switch. Shifting to Proof of Stake is technologically complex, and it has taken Ethereum years to develop and to test the code necessary for the change. Perhaps more importantly, many Bitcoin diehards are adamant against changing the system created by Satoshi Nakamoto, the pseudonymous person or group credited with developing the software.
“I’d put the chance of Bitcoin ever moving to PoS at exactly 0%,” said Chris Bendiksen, a Bitcoin researcher at CoinShares and one of the world’s leading experts on Bitcoin mining. “There is no appetite among Bitcoiners to destroy the security of the protocol by making such a move.”
“I’d put the chance of Bitcoin ever moving to PoS at exactly 0%,” said Chris Bendiksen, a Bitcoin researcher at CoinShares and one of the world’s leading experts on Bitcoin mining. “There is no appetite among Bitcoiners to destroy the security of the protocol by making such a move.”
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