nice improvements
the only reason i didnt add DGB to my crypto portfolio until yet
is the missing hybrid POW/POS and a constant POS income
maybe u consider this
and i will add DGB side by side with DMD to my portfolio
the only reason i didnt add DGB to my crypto portfolio until yet
is the missing hybrid POW/POS and a constant POS income
maybe u consider this
and i will add DGB side by side with DMD to my portfolio
Definitely have to agree with that. The addition of POS would be a dramatic enhancement of DGB's appeal.
AFAIK there is no altcoin in existence which is multi-algo POW / POS hybrid. If DGB went down this route it would be a first.
Will the dev-team consider Cryptonit's suggestion??
It was already discussed, this issue is a non-starter, multi algorithm pow is more secure. There is no benefit to Digibyte changing to pos other than a short term pump.
There is however a very big marketing benefit for a coin that consumes less of the planets coal powered electricity. Green credentials are a consideration when looking to achieve mass adoption IMHO.
In my life outside of DGB, I work on environmental issues, questions, and problems. I am deeply engaged and aware of the problems caused by anthropocentric impacts on the non-human ecosystems. I have a really long reply to the question about if POS is more environmentally friendly than POW. I'll finish typing it up in the next couple of days and post it somewhere (although not here because it's too long and detailed).
The short version is that yes, POS uses less electricity than POW. However, making the argument that because it uses less electricity it is necessarily more environmentally friendly is not always true. That claim requires making assumptions that ignore inputs, outputs, and how the use impacts the larger system it is a part of.
I advocate ASICs partly precisely because they are so much more power efficient and environmentally friendly. I use my mining equipment to heat my house. it's not a very big house so I haven't had to turn on my furnace since 2013. But even if it were bigger, heating just a part of the house would offset the power and fuel for heating. I don't mine in the summer (I only mine when I need to heat the house). My mining equipment uses about the exact same electricity as the furnace. So, there is no additional environmental impact - the electricity used for the mining equipment is roughly the same as the electricty used for the furnance; in fact, there is net environmental benefit because I'm not burning natural gas (my furnace burns natural gas for the heat but the compressor uses electricity to push the air). Because of restrictions in the community where I live, I cannot install solar or wind-powered home electricity. However, a substantial portion of my electricity comes from a commercial wind-farm. I know that Jumbley used a home wind turbine to power some of his mining equipment for a while. I'm working on a solution that allows me to mine all year ... and I hope to have it done by the coming summer.
It's a really interesting question ... and I agree 100% that DigiByte should work toward advocating for positive environmental impacts of our network.
I know what you are talking about - heating your home. It works and I have not used aircon in winter. Basically coin for free or heating for free - however you prefer to think about it. Problem is that in summer (as you say) it just does not work. You pay the full price for electricity and suffer the heat - and barely manage to mine enough coin to pay for the electricity.
After you have spent the capital on miners though - you really have to keep it working. Especially with ASIC's its an arm race and if you step out for summer you come back to a different world - diffuculty has risen and the reward has halved or less. I have no solution for this dilemma.
I mine and POS - and rather like POS. I am an environmental scientist - like I imagine you are. Looking forward to your article - great to get well informed opinions.
