Topic: NXT/NEM or Monero/Bytecoin? - page 4. (Read 5225 times)

You can mine NXT indirectly at http://hashrate.org if you're interested.

POS coin can be mined indirectly too by any alt mining POOL like coinking ,blackcoinpool...



Early POW miners allso have 10000+ BTC mined with simple laptops...
you forgot about pizza guy and 10 000BTC.

POW is preaty similar here in proportional distribution...Early movers WIN.
try now mine 10 000 BTC for pizza

you open a post where you attracted two out of 4 coins to be POS.

of course they will cry POS > POW.

it's hilarious



Here is a simple very basic math.

POS coin = only way to get them is by buying some one else bag. only one limited gateway to enter the network

POW coin = two ways. buying some one else bag or mining. two gateways to enter the network

To me, with POW having more gateways to enter the network already beats POS at more option to distribute the coin


Why POW mining is still the best.

the moment a POW coin blows up miners from other coins start mining it (even more people join the distributive network)

Even though asic just came out for scrypt. Scrypt had a long run with fair mining. This means that if person A spent $2000 to build a mining rig and  person B spent $2000 to build a mining rig, they both would have the almost the same mining power/coin. Hence if you really want to join the coin all you had to do is simply build a mining rig and join the distribution. it was a fair distribution hence why a lot of people choose the mining route for litecoin , dogecoin and all the recent new scrypt coins circa December up until may.

Easy,trust-less gateway to join the crypto world by mining. POW made that. POS coins even at this day i have to own BTCs to buy POS coins. AKA all the new people are out of this category. POS coin have to depend to convince bitcoin holders to buy their bags and as i said are limited to people already in the crypto community. Bitcoin is still new and new people have hard time just buying BTC/FIAT. they have to look online. Look to find the closest exchange, which in turn ends up being in some shady country. They have to send FIAT and their personal info and pray to god two weeks later they receive a notification that a new account with the amount of bitcoin is ready. Can you see a regular joe do this easy ? can you picture some one in bumble fuck trying to buy bitcoin? Now can you picture the same person ordering a mining parts from secure trusted electronic sites such as newegg.com? can you picture it them choosing the POW path? ordering a mining rig and receiving it with in few days?  can you picture them mining and slowly building up Bits?  no need to trust sketchy exchanges or look for some one to sell them btcs on localbitcoin.

again there is tons of other POW algos now trying to market the "asic resistant" like scrypt did but Asic is not the end of the scrypt. not yet. only now for at beginning, for a period of 2-3 months then it will settle down and be fair. here is what i mean:

as we stand , with $2000 you can buy Gpus and mine with 3-4/mhs or buy Asic and mine 20-30 mh/s. This is what asic has brought to the table right now. Unbalance. before $2000 worth of minig rig was pumping up almost the same hashpower. Now there is a huge unbalance. but after a few months Asic will start becoming more popular and will loose value as competition and quantity>demand. then $2000 will buy you almost the same hash power and it will be back to being a fair.

kinda like people are still mining bitcoin. asic were a bad thing at first as they created unbalance but now is fair game. $2000 worth of bitcoin mining rig will give out almost the same from any combination of rigs you build.



So POS? it has the green efficiency but it lacks fair distributions. and its closed looped. with a minign rig i could mine around join all kinds of POW coins. with POS i am stuck to the one coin i bought.

no thanks jef

lets be honest.

PoS is fair - for miners is unfair for sure... not for investors and users.

POS is different economy and philosophy you can't compare like that.

Good POS volume shows when coin were good distributed or not...
POW (80% premine bytecoin 1st crypto note ) have 10k $ daily volume
and POS Blackcoin no premine have 70k$-300k$ during last month
is better than NXT all the time Volume/Coinmarketcap ...
NXT is not scam - is different kind of distribution and Volume vs coinmarket cap is rising so distribution is increasing...

I wait NEM Volume/Coinmarketcap ... in future...

POW and BTC now when BIG specialized farms mine BTC also have controversial centralized coin distribution...
...you won't never have perfect system no in Monero or NEM or NXT or BC or PPC.

PS: today REAL use have only BTC for sure... rest is just for speculations.
from pump to pump... volume up.

If i have to invest NEW win for me ( good distribution + core devs who created protocol are with NEM )

I'm really looking forward to some fleshing out in the NEM department.

POW is fascinating, and has been essential to bitcoin's success. But POS makes much more sense, now that the crypto currency environment has matured significantly. I don't understand why nobody has tried a biometric offer yet, what with the iPhone's print scanner. Probably because that would be so easily exploited, besides the work involved.

Sure, here you go:

http://static.squarespace.com/static/52fd44e2e4b0d3e64dc22c95/t/5391cfc4e4b0b99a8edc67a6/1402064836524/investor%20handout.pdf

https://docs.google.com/document/d/1NhxTyi4Eo2D_1m1Ca8zvzQr0_RB0dgM2VuWXAIzcS-I/edit

https://docs.google.com/document/d/10ZVrzuS_krjRF5rMvt5oKl3IS3VOhF_qnn2faZb7KZQ/edit

Well that is interesting to hear for sure. Any links where I can read up on some specifics?

It's amazing how little information about new cryptocurrency tech gets propagated in the bitcoin community. Things like this should be big news.

No

I've never heard of this PoI and I thought NEM was just a NXT fork with a different initial distribution system. No?

Hmm the PoI sounds well, i have probably slept because i didnt know how PoI works until now... However i worry about botnet risk. It should favour Linux machines (they are unbotnetable).

PoW = people doing busy work for the lottery ticket of a block reward
PoS = big stakeholders forging so they can get fees, but nobody else has a stake in maintaining the network
PoI = anybody that is upholding the network is rewarded for it (kind of makes sense)

The argument against central banks to me is not their centralization.  The problem is that they are reckless and print and print what they want and how they want, and yes, they do that because they are centralized.  But a good central bank that didn't do that would be just fine with me.  The problem is, how can we tell if and when that will happen?  We can't.  One centralized authority can just act reckless if it wants. 

With bitcoin, the production of bitcoins are set.  Everyone knows exactly how many will be created and more or less exactly when and how they will be created.  It's centralization is in its math and algorithms.  I can trust in that much more than I can a central bank's wild guess of how much money it should print this year.  So even if there are only three large mining pools, it is okay, because they can't change the rate of which bitcoins are produced. 

What can happen though that is bad, and is already happening is that mining pools are soooooo focused on just getting the block reward that they aren't even processing transactions to put in the block!  Lots of miners are refusing if the fee isn't high enough.  This is a big problem because when there are only three pools (which will probably happen), they can make back room deals and rig fees.  It is in their best interest to do so and we all know 100% the rationality and greed of acting in self interest miners have.  When and if that happens, bitcoin will be hurt. 

As long as the miners keep the bitcoins coming at a steady pace, they are like a good central bank.  But if they start screwing people on transaction fees or even not processing transactions, that is more like a bad local bank that has a total monopoly on how people can spend their personal funds.  It is just in bitcoin the bitcoin protocol is like the central bank, and the miners are like the local bankers.  So yes, centralization is very bad for bitcoin, but not in a central bank kind of way. 

PoW coins like Litecon just can't turn into a PoS like NXT.  They are written on completely different code with totally different fundamentals.   Litecoin could maybe someday IF IF IF every agree to it become PoS Litecoin, but it would still be just Litecoin and wouldn't offer any extra value or function.  A PoW Litecoin and PoS Litecoin to me are just about the same and already outdated.  So even if it did somehow manage to switch, it is still behind on the game. 

PoW cannot turn to PoS easily.

Because all these miners won't accept the new release of the software and the network will continue to operate as PoW. And why should they accept the changes? They invested thousands or even millions of dollars into ASICs and all the infrastructure, and now the dev wants it to go to PoS? F*ck the dev, they'll be using the old version of the software and because they are the majority of the full nodes, they will form the longest chain and the network will adhere to their rules. So Bitcoin can't switch to PoS, that's for sure. As for others - hard to tell, Litecoin probably can't switch to PoS at this point either and it won't. Smaller ones could, but would lose all the miners and quickly die due to very low adoption rates.

That makes no sense...But ok.

But NEM will be POI (Proof Of Importance), PoW coins can't turn into that.

You guys do realize, PoW coins can just transform to PoS right...So if the dev of...idk.... Litecoin wanted to change Litecoin to PoS, he could..

So while coins like NXT may have the heads start by a little bit in the PoS department, Any other coin with terrific devs can simply turn PoS and destroy NXT's position in the PoS coin market...

In addition to that, in PoW, you are essentially paying a fee to maintain the network, which is a loss for you.

It would be environmentally very sad if PoW survives.  The difference in energy required to do the same thing is enormous.

Here' what it costs to maintain a big part of Nxt network right now:

http://www.peerexplorer.com/

Compare that to litecoin. And it will probably get worse (difference).

Hybrids are ok for now, but why not skip and go right to where hybrids will end in a couple of years - PoS.