POS is good choice.
POW is very risk.
Topic: POW and POS, which is better? - page 2. (Read 387 times)
I initially thought that pow is the real thing and pos is just like holding and earning interest but as i learned more i realised that pos is not interest, this model is also actively participating in network solutions like pow and that too without the use of equipment and electricity, so pos system is not interest based it is also active system and you are getting the reward to work for the network it is not interest simply.
Of course I think that POS is more interesting for ordinary people. Although if I chose, I would choose not POS and not POW. In my opinion, there are more profitable and interesting algorithms for people.
No one can really answer you this because so far both ways have flaws and aint really a perfect solution.With pow network depends from minners that most of the times aint loyal and will point their gear towards more profitable coin.On the other hand pos leads to centralisation where most of masternodes/coins belong to only few individuals...
Yes, Satoshi himself stated the disadvantages of both which is pretty obvious. The idea of decentralization comes with POW coming into play and for the main fact and like you said, POS just simply give room totally for centralization and as far as I am concerned, that sucks. We could as well just stick with bank monopolies in that case.Nevertheless, the same way they both have their advantages, they also have their disadvantages, so one way or the other, I actually go with your saying that it is actually difficult to answer. Bother are better for a coin developer but for an investor point of view, I must say POS is highly preferable one. Yes, why not we make some free coins while we are holding up. I guess earning interest here sounds like our basic right for our contribution. Investors of POS must have thoughts about that.
POW will always be better because there is actual proof of work which can be done by anyone interested enough to do so. Proof of work is essential to decentralization. POS is the epitome of centralization. No matter what the premine, POS will always create a situation where users have to go to one exchange or another to PURCHASE COINS. This basic difference between POS and POW is undeniable.
All the 'save the planet' arguments are TOTALLY irrelevant because it dismisses the idea of doing POW efficiently and with little or ZERO impact to the planet. This is VERY possible and the benefits of POW should not be thrown out because of short-sighted concerns that can easily be corrected.
POS creates a situation where early adopters benefit disproportionately. at least with POW people can join later and still benefit as efficiencies typically scale with the mining time. POS is simply this: Trust me, buy me, profit. It is completely assanine.
The only future for POS models is with Masternodes as part of an POW model.
I'm sure POS will live on and also be successful but going forward, I don't see many new POS model implementations being successful.
All the 'save the planet' arguments are TOTALLY irrelevant because it dismisses the idea of doing POW efficiently and with little or ZERO impact to the planet. This is VERY possible and the benefits of POW should not be thrown out because of short-sighted concerns that can easily be corrected.
POS creates a situation where early adopters benefit disproportionately. at least with POW people can join later and still benefit as efficiencies typically scale with the mining time. POS is simply this: Trust me, buy me, profit. It is completely assanine.
The only future for POS models is with Masternodes as part of an POW model.
I'm sure POS will live on and also be successful but going forward, I don't see many new POS model implementations being successful.
The two are good but it depends on individual. for those who can get cheap electricity and are able to set up a mining rig, POW is better for them but for those who don't have such generosity of energy and funds for a mining rig, I think POS is better as they will keep getting dividends on their staked coins without having to do anything else.
I always believe that POS is much better than POW. Energy saving, safer...
But "Fake Satoshi" Dr Craig seems to believe that POW is better than POS when he said: POW is fair & for everybody who work hard while POS is for people who are wealthy (they have much money for staking).
What do you think?
You cannot really deny the fact that what he has said is simply the truth because that is what POS would always do as it ends up giving chance to the holders of the token to get more in the long run without having to work for it. But, POW has proven security measurements whereas POS is claiming about secured when more people are staking but not yet proven in real time against 51% attack kind of threats. But "Fake Satoshi" Dr Craig seems to believe that POW is better than POS when he said: POW is fair & for everybody who work hard while POS is for people who are wealthy (they have much money for staking).
What do you think?
Moreover, it is understandable however that those who are mining today have some bucks to dish out, so if you can actually get to invest in something you believe in and hold while getting something huge from it gradually, is not a bad thing. It still balls down to the same thing.
I chose POS because it is more efficient, low power consumption, and good for holders, in some cases POWs / Miners sell their coins and make prices go down or dump
I encourage more POS because:
- PoW can't be used on small and weak devices such as smartphones. These devices not only lack the space to store hundreds of gigabytes of blockchain data but they also do not have enough computing power to dig effectively. Phone battery will run out very fast but not really accomplish anything.
- PoW is very slow. With Bitcoin, every 10 minutes a block, and only transactions in that block are processed. Everything else must wait for the next block. The consequences are long waiting times or expensive transaction fees (higher transaction costs are processed faster).
- PoW is consuming a huge amount of electricity. Only one single block has consumed more electricity than the demand of some countries for a whole year. This will only get worse. The dependence of pre-coding on electricity is unsustainable in most stable environments. This dependency also means that higher electricity bills or government-imposed limits on types of electricity can "kill" an entirely digital currency.
- PoW can't be used on small and weak devices such as smartphones. These devices not only lack the space to store hundreds of gigabytes of blockchain data but they also do not have enough computing power to dig effectively. Phone battery will run out very fast but not really accomplish anything.
- PoW is very slow. With Bitcoin, every 10 minutes a block, and only transactions in that block are processed. Everything else must wait for the next block. The consequences are long waiting times or expensive transaction fees (higher transaction costs are processed faster).
- PoW is consuming a huge amount of electricity. Only one single block has consumed more electricity than the demand of some countries for a whole year. This will only get worse. The dependence of pre-coding on electricity is unsustainable in most stable environments. This dependency also means that higher electricity bills or government-imposed limits on types of electricity can "kill" an entirely digital currency.
Better than all - POI)) Seriously, it seems to me that POW will be a thing of the past. We are all here for green technologies and reducing the consumption of resources of the planet? Yes, there may be those who in POW will deny it for a long time, but here tendencies have long left for big players who control the market.
I like to invest in the coins which are having POS feature as it will enable me to earn extra while I will be holding those coins for better prices. People are holding bitcoin for $20k but it has no mechanism of getting interest for the amount of coins being hoarded. I love POS and now I look for setting up masternodes. I guess in future we will get something new which will more profitable then mining and POS systems.
Of course POS is much better than POW. Forget the Fake Satoshi guy, friend.
POW is a waste of energy of our world. POS is not
In POW consensus, the owners of the coin and hash power may be different.
I would not say you do not have a point which you do. However, discarding the opinion of the satoshi guy is not also right since what he said is not far from the truth. The only thing though is that, with the POW thing, even the richer dudes also still stand a better chance than those who do not have much since it would take a lot to set up a mining rig anyway and that would give the miner the chance to keep having more while energy goes for it.POW is a waste of energy of our world. POS is not
In POW consensus, the owners of the coin and hash power may be different.
POS is more like a version of investing and holding while getting from it based on the percentage of your stake and I really see nothing bad with that.
I think POS is better the POW, but he's correct in saying that POS is for the wealthy. The more you have staked the bigger % of the POS you will be taking. In saying that, if you're wealthy you can build big mining farms and take a bigger % of the POW as well.
i hate to agree with the scammer Craig Wrigt but i feel the same way about POW and POS. POW is so much fairer and more secure when it comes to processing transactions and distributing the supply.
with a POS system one person only has to be rich to do nothing and get paid a lot of money and attacking that system can be much easier by someone who gets in early and has a lot of stake.
with POW you still have to do a lot of work and even if you get in early (like having a lot of bitcoin now) you still have to buy ASICs spend money and use electricity to attack the network and fail. and that is much harder than POS.
with a POS system one person only has to be rich to do nothing and get paid a lot of money and attacking that system can be much easier by someone who gets in early and has a lot of stake.
with POW you still have to do a lot of work and even if you get in early (like having a lot of bitcoin now) you still have to buy ASICs spend money and use electricity to attack the network and fail. and that is much harder than POS.
No one can really answer you this because so far both ways have flaws and aint really a perfect solution.With pow network depends from minners that most of the times aint loyal and will point their gear towards more profitable coin.On the other hand pos leads to centralisation where most of masternodes/coins belong to only few individuals...
I agree with you because in both have shortcomings and advantages.
how we judge it.
sometimes humans can only judge without knowing the struggle of it
POS is good on its own part while POW is also cool with it own use, but POS is more of zoning the reward to some people and leaving major user aside while POW also require alot of equipment to make it work with financial aspect which also same like POS, so the only difference between them is time and energy require for POW while POS only require your money to stake and get your reward ,so with this reason POS is better to POW.
I always believe that POS is much better than POW. Energy saving, safer...
But "Fake Satoshi" Dr Craig seems to believe that POW is better than POS when he said: POW is fair & for everybody who work hard while POS is for people who are wealthy (they have much money for staking).
What do you think?
What? POW is fair for everybody? Not at all you have to also buy expensive mining equipment and pay a lot for electricity so it is not also only for wealthy people?But "Fake Satoshi" Dr Craig seems to believe that POW is better than POS when he said: POW is fair & for everybody who work hard while POS is for people who are wealthy (they have much money for staking).
What do you think?
And what about current Bitmain 42% dominance? It is not a problem?
I think both POW and POW have their own advantages.
However, I am more optimistic about POS, because the POS mechanism does not consume a lot of resources.
However, I am more optimistic about POS, because the POS mechanism does not consume a lot of resources.
- POW is asking a service user to prove that they have made a donation (usually the cost of doing the math) to prevent network attacks such as spam and theft. Dedicated Dedicated Service (DDoS).
In relation to Bitcoin, POW means evidence of bitcoin digger's contribution to virtual money exploitation.
- PoS is another way to validate transactions and gain distribution consensus.
PoS is still an algorithm and has a general purpose with PoW, but the implementation process is quite different. PoS is emerging the first time on the bitcointalk forum back in 2011, the first digital currency. Using this method is Peercoin in 2012, along with ShadowCash, NXT, BlackCoin, NuShares / NuBits, Qora and Nav Coin.
* POS surpasses POW at several points:
- Energy saving.
- A more secure network because of the cost to pay to attack becomes more expensive: if a hacker wants to buy 51% of the total coin, the market responds by raising the price quickly.
In relation to Bitcoin, POW means evidence of bitcoin digger's contribution to virtual money exploitation.
- PoS is another way to validate transactions and gain distribution consensus.
PoS is still an algorithm and has a general purpose with PoW, but the implementation process is quite different. PoS is emerging the first time on the bitcointalk forum back in 2011, the first digital currency. Using this method is Peercoin in 2012, along with ShadowCash, NXT, BlackCoin, NuShares / NuBits, Qora and Nav Coin.
* POS surpasses POW at several points:
- Energy saving.
- A more secure network because of the cost to pay to attack becomes more expensive: if a hacker wants to buy 51% of the total coin, the market responds by raising the price quickly.
I'm not sure which is better. But I prefer POS rather than POW. I do not have the ability to participate in POW so I want to try POS.
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