Topic: Miners have full control of Bitcoin price. Nobody can trust a system like this. - page 3. (Read 1502 times)
November 12, 2017, 06:36:02 AM
Miners moving to BCH does not increase BCH's price. It does nothing except increase the speed of blocks being generated (until the next difficulty adjustment). So them dumping BTC and moving to BCH just to profit does not make sense.
November 12, 2017, 06:30:27 AM
All moves on the crypto market as far as POW based coins go is very much coordinated. Don't be a fool and live in denial.
November 12, 2017, 06:09:42 AM
There is a new novel POS at work where even if you hold just one unit and stake you have a chance getting rewards.
Yeah in my country they have it also. They call it national lottery.
Yes exactly and in Bitcoin the miners have cracked the lottery machine.
November 12, 2017, 06:04:59 AM
This is yet again demonstration how miners have total control over Bitcoin price and it's forks. Nobody can trust a system like this when few powerful people can change eveyrthing in a day.
Not as a store of value
Not as a currency
Not as anything really other than an instrument for the rich to get richer and poor to get poorer. This is same as FIAT. You have not accomplished much anything really.
Proof of Work is doomed. Proof of Stake is the future.
POS changes everything.
1. In proof of work miners can play the system forever. They can dump their BTC when it's high and buy large amounts of BHC and start mining BHC which will rise it's price as you can see from the chart in the OP and what just happened over the past couple days. Then they dump BHC at 2-3 times the price and buy back BTC when it's low and move back to mining BTC... and on and on it goes and in the future it will be even worse when there are many more Bitcoin forks.
2. In Proof of Stake you can dump your stake (your holdings) only once! Once that is done you are out of power over the system and you can't play the system forever like in proof of work.
https://fork.lol/pow/hashrate
Not as a store of value
Not as a currency
Not as anything really other than an instrument for the rich to get richer and poor to get poorer. This is same as FIAT. You have not accomplished much anything really.
Proof of Work is doomed. Proof of Stake is the future.
POS changes everything.
1. In proof of work miners can play the system forever. They can dump their BTC when it's high and buy large amounts of BHC and start mining BHC which will rise it's price as you can see from the chart in the OP and what just happened over the past couple days. Then they dump BHC at 2-3 times the price and buy back BTC when it's low and move back to mining BTC... and on and on it goes and in the future it will be even worse when there are many more Bitcoin forks.
2. In Proof of Stake you can dump your stake (your holdings) only once! Once that is done you are out of power over the system and you can't play the system forever like in proof of work.
https://fork.lol/pow/hashrate
Agreed man; Proof of work no longer works; I mean the way the play with the market is crazy; it is a blood bath out there. I am surprised how the market shifted in a glance. Looks like Eth is write to consider proof of stake.
November 12, 2017, 06:02:20 AM
There is a new novel POS at work where even if you hold just one unit and stake you have a chance getting rewards.
Yeah in my country they have it also. They call it national lottery.
November 12, 2017, 05:50:41 AM
What PoS would change? Nothing - poor will have tiny amounts, rich - huge. Result the same.
POS changes everything.
1. In proof of work miners can play the system forever. They can dump their BTC when it's high and buy large amounts of BHC and start mining BHC which will rise it's price as you can see from the chart in the OP and what just happened over the past couple days. Then they dump BHC at 2-3 times the price and buy back BTC when it's low and move back to mining BTC... and on and on it goes and in the future it will be even worse when there are many more Bitcoin forks.
2. In Proof of Stake you can dump your stake (your holdings) only once! Once that is done you are out of power over the system and you can't play the system forever like in proof of work.
November 12, 2017, 05:35:56 AM
What PoS would change? Nothing - poor will have tiny amounts, rich - huge. Result the same.
November 12, 2017, 05:34:48 AM
Not as anything really other than an instrument for the rich to get richer and poor to get poorer. This is same as FIAT. You have not accomplished much anything really.
Proof of Work is doomed. Proof of Stake is the future.
Proof of Work is doomed. Proof of Stake is the future.
Yes, let's just let all the rich people buy all the coins so they'll control the coin, but without the electricity costs.
Sounds like a wonderful and impactful change.
There is a new novel POS at work where even if you hold just one unit and stake you have a chance getting rewards.
November 12, 2017, 05:26:04 AM
Not as anything really other than an instrument for the rich to get richer and poor to get poorer. This is same as FIAT. You have not accomplished much anything really.
Proof of Work is doomed. Proof of Stake is the future.
Proof of Work is doomed. Proof of Stake is the future.
Yes, let's just let all the rich people buy all the coins so they'll control the coin, but without the electricity costs.
Sounds like a wonderful and impactful change.
November 12, 2017, 05:22:38 AM
This is yet again demonstration how miners have total control over Bitcoin price and it's forks. Nobody can trust a system like this when few powerful people can change eveyrthing in a day.
Not as a store of value
Not as a currency
Not as anything really other than an instrument for the rich to get richer and poor to get poorer. This is same as FIAT. You have not accomplished much anything really.
Proof of Work is doomed. Proof of Stake is the future.
POS changes everything.
1. In proof of work miners can play the system forever. They can dump their BTC when it's high and buy large amounts of BHC and start mining BHC which will rise it's price as you can see from the chart in the OP and what just happened over the past couple days. Then they dump BHC at 2-3 times the price and buy back BTC when it's low and move back to mining BTC... and on and on it goes and in the future it will be even worse when there are many more Bitcoin forks.
2. In Proof of Stake you can dump your stake (your holdings) only once! Once that is done you are out of power over the system and you can't play the system forever like in proof of work.
https://fork.lol/pow/hashrate
Not as a store of value
Not as a currency
Not as anything really other than an instrument for the rich to get richer and poor to get poorer. This is same as FIAT. You have not accomplished much anything really.
Proof of Work is doomed. Proof of Stake is the future.
POS changes everything.
1. In proof of work miners can play the system forever. They can dump their BTC when it's high and buy large amounts of BHC and start mining BHC which will rise it's price as you can see from the chart in the OP and what just happened over the past couple days. Then they dump BHC at 2-3 times the price and buy back BTC when it's low and move back to mining BTC... and on and on it goes and in the future it will be even worse when there are many more Bitcoin forks.
2. In Proof of Stake you can dump your stake (your holdings) only once! Once that is done you are out of power over the system and you can't play the system forever like in proof of work.
https://fork.lol/pow/hashrate
Jump to: