Topic: Cryptocurrency & Lessons Learned - page 2. (Read 263 times)
we learned that there will be alternatives against traditional banking system. and when quantity of technological developments increase, people will understand that they have always other choices then getting robbed by traditional methods.
Cryptocurrency is for freedom of choice. We need both the centralized and decentralized coins and both of POW and POS and whatever other proof we can work with.
Cryptocurrency can be divided to different genre based on their objectives. An anonymity focused coin cannot be a POS or centralized.
Cryptocurrency can be divided to different genre based on their objectives. An anonymity focused coin cannot be a POS or centralized.
Cryptocurrency lessons learned? Approximately 95% of the new launched ICO will turn out to be garbage and drop to a fraction of their launch price or disappear totally within the following 12 months.
lessons from last year trading in cryptocurrency, guarantees and strategies that are very easy to trade. Past performance is not an indication of future events. Technical analysis can help to find timely entries into quality assets.
So what have we learned up until now? Here are my thoughts:
1. Centralization Vs Decentralization:
Does Centralization or Decentralization of POW mining really matter? There are 2 obvious arguments but I would like to introduce a third. The first argument basically says that we must have decentralized POW mining or else we will end up with something like BitmainCash (oops, I mean bitcoincash). Probably enough said for that point.
The second argument is that decentralization may not even matter in the short term or in the long term for POW mining. There are various examples of coins that have had ASIC/Centralized mining introduced and for the most part, life goes on. So beyond these first 2 arguments stating 1) Decentralized POW mining is the only way and 2) Decentralized POS mining is just a part of life...
The third argument that I would propose is that Decentralized POW mining is an inevitable goal that will be continuously strived for just as we aim to make a perfect circle or just as we aim to exceed faster than light travel. Since decentralization matters on such an epic scale, mining algorithms matter and developers flexibility matters. Therefore and as continues to be demonstrated with various new POW algorithms produced all the time: ANY POW COIN DEVELOPER SEEKING DECENTRALIZATION MUST REMAIN OPEN AND FLEXIBLE TO FORKING THEIR COINS TO NEW ALGORITHMS.
2. POW/POS... XRP?
Blockchain Blockchain Blockchain:
So why not just get rid of POW altogether and shift to POS since it's so complicated? Decentralization, that's why. But really, that's besides the point. Sure, ethereum is shifting to POS. Various successful coins are POS. Various successful coins are POW. None of that really matters. All that matters is that the implementation of blockchain is used successfully and that people agree to that. Who would have ever thought that a 100% pre-mine coin could ever succeed? The people at XRP, that's who.
The point here: Blockchain use case and success is what matters despite personal preferences. Pre-mine doesn't really matter even if it can sometimes be a predictor of fraud.
1. Centralization Vs Decentralization:
Does Centralization or Decentralization of POW mining really matter? There are 2 obvious arguments but I would like to introduce a third. The first argument basically says that we must have decentralized POW mining or else we will end up with something like BitmainCash (oops, I mean bitcoincash). Probably enough said for that point.
The second argument is that decentralization may not even matter in the short term or in the long term for POW mining. There are various examples of coins that have had ASIC/Centralized mining introduced and for the most part, life goes on. So beyond these first 2 arguments stating 1) Decentralized POW mining is the only way and 2) Decentralized POS mining is just a part of life...
The third argument that I would propose is that Decentralized POW mining is an inevitable goal that will be continuously strived for just as we aim to make a perfect circle or just as we aim to exceed faster than light travel. Since decentralization matters on such an epic scale, mining algorithms matter and developers flexibility matters. Therefore and as continues to be demonstrated with various new POW algorithms produced all the time: ANY POW COIN DEVELOPER SEEKING DECENTRALIZATION MUST REMAIN OPEN AND FLEXIBLE TO FORKING THEIR COINS TO NEW ALGORITHMS.
2. POW/POS... XRP?
Blockchain Blockchain Blockchain:So why not just get rid of POW altogether and shift to POS since it's so complicated? Decentralization, that's why. But really, that's besides the point. Sure, ethereum is shifting to POS. Various successful coins are POS. Various successful coins are POW. None of that really matters. All that matters is that the implementation of blockchain is used successfully and that people agree to that. Who would have ever thought that a 100% pre-mine coin could ever succeed? The people at XRP, that's who.
The point here: Blockchain use case and success is what matters despite personal preferences. Pre-mine doesn't really matter even if it can sometimes be a predictor of fraud.
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