Topic: POS instead POW - page 2. (Read 286 times)
With PoS, the more coins you hold, the more power you have over the network. Now think of the huge exchanges such as Coinbase and Binance — think about how much power they'd have. Bitcoin with PoS is simply a disaster.
pow connects the encrypted digital world with the physical industry
And pos is a product of pure finance
And pos is a product of pure finance
Sure.
Bitcoin will be forced to evolve,
After
1. Bans of PoW mining increases World Wide
2. PoS coins (Ethereum & Cardano) takes the #1 position away from it on CMK.
PoW was always a failed design due to energy waste,
which is why PoS was created all way back in 2013 to solve the energy waste issue.
Ethereum Devs are wise enough to evolve by choice.
Cardano is already Pure Proof of Stake.
Bitcoin Devs will have to be forced by market conditions and government interference.
Bitcoin Devs are kind-a-slow.
FYI:
All of those whiners that complain PoS will give whales more power, ask them how many bitcoins they have mined this year?
Where as in PoS , anyone can join a pool and earn PoS coins, PoW restricts mining only to the rich elite now.
* Your Grandma can join a PoS pool and earn more PoS coins, where she never be able to mine a PoW Bitcoin. *
So who is keeping bitcoin proof of waste really hurting.
FYI2:
There always a chance that Bitcoin converts to a energy efficient human slave PoW design that uses humans instead of ASICS.
But as the bans get worse, they are going to have to change to something beside ASICS.
PoS is the Good one, and human slave PoW is the evil one.
https://lexpatent.by/en/news/2020/05/14/Microsoft-666/
Bitcoin will be forced to evolve,
After
1. Bans of PoW mining increases World Wide
2. PoS coins (Ethereum & Cardano) takes the #1 position away from it on CMK.
PoW was always a failed design due to energy waste,
which is why PoS was created all way back in 2013 to solve the energy waste issue.
Ethereum Devs are wise enough to evolve by choice.
Cardano is already Pure Proof of Stake.
Bitcoin Devs will have to be forced by market conditions and government interference.
Bitcoin Devs are kind-a-slow.
FYI:
All of those whiners that complain PoS will give whales more power, ask them how many bitcoins they have mined this year?
Where as in PoS , anyone can join a pool and earn PoS coins, PoW restricts mining only to the rich elite now.
* Your Grandma can join a PoS pool and earn more PoS coins, where she never be able to mine a PoW Bitcoin. *
So who is keeping bitcoin proof of waste really hurting.
FYI2:
There always a chance that Bitcoin converts to a energy efficient human slave PoW design that uses humans instead of ASICS.
But as the bans get worse, they are going to have to change to something beside ASICS.
PoS is the Good one, and human slave PoW is the evil one.
https://lexpatent.by/en/news/2020/05/14/Microsoft-666/
Will BTC ever be able to switch to the POS consensus algorithm?
Proof of Snake is every 'whales' dream, where they get to control everything. None of the elite anywhere on earth want POW, it puts too much power in the little guy. POS puts all the power in the whales, where the 'elite' think power belongs.
Funny that POS is even accepted at all
POS is oligarchy, where only the rich make consensus decisions, where any rich guy with +51% can take permanent control of that coin, which means that if POS became standard over time all crypto's would essentially become cartels.
Never.
For following reasons:
The Proof-of-Work consensus algorithm was developed to prevent:
Attacks using computing power
Fake records
Refusals to carry out transactions
Spam
For following reasons:
The Proof-of-Work consensus algorithm was developed to prevent:
Attacks using computing power
Fake records
Refusals to carry out transactions
Spam
Will BTC ever be able to switch to the POS consensus algorithm?
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