Topic: PoW is very important - page 2. (Read 502 times)
It would be great if Vitalik made a hybrid model. I think he is still not fully decided what he wants to do, although I believe in him, I hope he will not fail.
not will, without mining all currencies will die out, including the dollar.
currencies without mining are no different from the dollar
Depends on the target. If you care about natural happiness, than any money and any action is evil because all this tangle the thread connecting us to God and unravels it only inaction. If the goal is to protect against financial crises, then mining is good, it protects money from reprints and seizures. And about the heating of the atmosphere do not worry, warming is good, it is the restoration of nature, because before there were no glaciers at all, they appeared as a result of nuclear wars, about which history hides . In short: if you want a lot of money, mining is better, for him the future, and if you want happiness, it is better to get rid of money and property because it is drugs.
currencies without mining are no different from the dollar
POW is good for the coin, but it's flawed, in a way that it uses way too much energy and that only grows with the number of people that are mining, which means if BTC another PoW cryptocurrency gets mass adoption(real world), it could literally warm up the atmosphere, because of the sheer amount of miners that would be required for it to work. If not the atmosphere, at least the cities where there are mining farms would be a lot warmer and there would be a lot of mining
Depends on the target. If you care about natural happiness, than any money and any action is evil because all this tangle the thread connecting us to God and unravels it only inaction. If the goal is to protect against financial crises, then mining is good, it protects money from reprints and seizures. And about the heating of the atmosphere do not worry, warming is good, it is the restoration of nature, because before there were no glaciers at all, they appeared as a result of nuclear wars, about which history hides . In short: if you want a lot of money, mining is better, for him the future, and if you want happiness, it is better to get rid of money and property because it is drugs.
I do not agree with the author. I think that the transition to POS for ethereum will be a very useful transformation. And also I would not recommend investing in ETC
another thing about PoS is that the method of rewarding people is seriously flawed. for example when someone is rich (specially if they are rich NOT because they bought BUT because they premined the coin) then it measn they will be rewarded a huge amount for free and for doing literary nothing.
not to mention that it can damage the price a lot too. miners work hard and want to continue working so they don't dump their coins to crash the market. a whale who is getting it for free can dump it at any time he wants, move to another PoS coin, buy a large sum there to pump, get paid for free then dump and come back to buy cheap. rinse and repeat.
you see the whale can easily get in and out and dump but a miner can not turn on and off!
not to mention that it can damage the price a lot too. miners work hard and want to continue working so they don't dump their coins to crash the market. a whale who is getting it for free can dump it at any time he wants, move to another PoS coin, buy a large sum there to pump, get paid for free then dump and come back to buy cheap. rinse and repeat.
you see the whale can easily get in and out and dump but a miner can not turn on and off!
A transition is hard for everything no doubt about that.
even though its reward system is seriously flawed, we can not deny that it can help our world by reducing our total sources consumption, right?
about rich guy and poor guy, it won't matter.
because a rich guy can buy a lot of coins or hardware to mine it, while the poor guy can not afford to do what he did.
PoW or not, manipulation will have its own place.
another thing about PoS is that the method of rewarding people is seriously flawed. for example when someone is rich (specially if they are rich NOT because they bought BUT because they premined the coin) then it measn they will be rewarded a huge amount for free and for doing literary nothing.
not to mention that it can damage the price a lot too. miners work hard and want to continue working so they don't dump their coins to crash the market. a whale who is getting it for free can dump it at any time he wants, move to another PoS coin, buy a large sum there to pump, get paid for free then dump and come back to buy cheap. rinse and repeat.
you see the whale can easily get in and out and dump but a miner can not turn on and off!
not to mention that it can damage the price a lot too. miners work hard and want to continue working so they don't dump their coins to crash the market. a whale who is getting it for free can dump it at any time he wants, move to another PoS coin, buy a large sum there to pump, get paid for free then dump and come back to buy cheap. rinse and repeat.
you see the whale can easily get in and out and dump but a miner can not turn on and off!
guess what will be the largest and will take second place after bitcoin
I believe it should be STR Lumen but of course, I might be wrong in here.
why? some stores are starting to accept cryptocurrency and in 2019 we are going to see another good news from Nasdaq and others. if they are starting to accept cryptocurrency.
that means we need something faster and feeless in order to boost our sentiment.
so far, the fastest coin compared to Dash itself is STR Lumen. That is why I say, STR Lumen might take our 2nd place.
there is no mining, it's bad
this well as times, there is no money because, that all money only have ETC buyers
guess what will be the largest and will take second place after bitcoin
ETC?
That is very wishful thinking - but we are far from it.
The only reason I would like to see ETC surpass ETH, is the reason ETC existed in the first place
I believe it should be STR Lumen but of course, I might be wrong in here.
why? some stores are starting to accept cryptocurrency and in 2019 we are going to see another good news from Nasdaq and others. if they are starting to accept cryptocurrency.
that means we need something faster and feeless in order to boost our sentiment.
so far, the fastest coin compared to Dash itself is STR Lumen. That is why I say, STR Lumen might take our 2nd place.
why? some stores are starting to accept cryptocurrency and in 2019 we are going to see another good news from Nasdaq and others. if they are starting to accept cryptocurrency.
that means we need something faster and feeless in order to boost our sentiment.
so far, the fastest coin compared to Dash itself is STR Lumen. That is why I say, STR Lumen might take our 2nd place.
The coin that is going to be adopted by the masses has not yet arrived imho, & is going to have to be a lot more scalable than the current status quo.
guess what will be the largest and will take second place after bitcoin
ETC?
That is very wishful thinking - but we are far from it.
The only reason I would like to see ETC surpass ETH, is the reason ETC existed in the first place
I believe it should be STR Lumen but of course, I might be wrong in here.
why? some stores are starting to accept cryptocurrency and in 2019 we are going to see another good news from Nasdaq and others. if they are starting to accept cryptocurrency.
that means we need something faster and feeless in order to boost our sentiment.
so far, the fastest coin compared to Dash itself is STR Lumen. That is why I say, STR Lumen might take our 2nd place.
why? some stores are starting to accept cryptocurrency and in 2019 we are going to see another good news from Nasdaq and others. if they are starting to accept cryptocurrency.
that means we need something faster and feeless in order to boost our sentiment.
so far, the fastest coin compared to Dash itself is STR Lumen. That is why I say, STR Lumen might take our 2nd place.
The coin that is going to be adopted by the masses has not yet arrived imho, & is going to have to be a lot more scalable than the current status quo.
guess what will be the largest and will take second place after bitcoin
I believe it should be STR Lumen but of course, I might be wrong in here.
why? some stores are starting to accept cryptocurrency and in 2019 we are going to see another good news from Nasdaq and others. if they are starting to accept cryptocurrency.
that means we need something faster and feeless in order to boost our sentiment.
so far, the fastest coin compared to Dash itself is STR Lumen. That is why I say, STR Lumen might take our 2nd place.
it is a failed attempt to move away from PoW. their initial plans were about killing miners with difficulty bomb but that was sunk when it was removed elsewhere. and also you can not force miners to stop mining and as a result the original ETH chain will exist if they fork to PoS while the foundation will switch to PoS with their centralization power and then they will try to attack the original chain if they want to survive!!! like they attacked ETC in order to survive.
in the end i expect seeing 3 chains.
- the original ethereum chain called ETC
- the fork chain called ETH PoW
- the fork chain called ETH PoS
in the end i expect seeing 3 chains.
- the original ethereum chain called ETC
- the fork chain called ETH PoW
- the fork chain called ETH PoS
In any case, before the division of the network, everyone will start buying Ethereum as it was before the advent of Bitcoin Cash. And we'll probably get another coin in the TOP 10.
guess what will be the largest and will take second place after bitcoin
it is a failed attempt to move away from PoW. their initial plans were about killing miners with difficulty bomb but that was sunk when it was removed elsewhere. and also you can not force miners to stop mining and as a result the original ETH chain will exist if they fork to PoS while the foundation will switch to PoS with their centralization power and then they will try to attack the original chain if they want to survive!!! like they attacked ETC in order to survive.
in the end i expect seeing 3 chains.
- the original ethereum chain called ETC
- the fork chain called ETH PoW
- the fork chain called ETH PoS
in the end i expect seeing 3 chains.
- the original ethereum chain called ETC
- the fork chain called ETH PoW
- the fork chain called ETH PoS
Yes, sorry, I fixed it
ETH will give up PoS, I think this is a big mistake, so I moved to ETC. First: the miners is an ecosystem, the more people in the system is better. Compare Microsoft and Linux, the code of first is closed, and the second is open and better, but more money in the first because more people. Secondly: manners make it impossible to intervene in your money without hard fork, no one will be able to freeze your money, but for one person hard fork will not to do
where did you see that kind of news? I have been trying to find it, but I get nothing.
And, honestly speaking what are you talking about?
your first statement is
Quote
ETH will give up PoS
but then you said thisQuote
the miners is an ecosystem, the more people in the system is better.
Are you talking about, ETH will give up their PoW? or am I missing something in here?
I would be thinking if it affect the whole market, especially when a coin turns into PoS for the mechanism of the blockchain.
ETH will give up PoW, I think this is a big mistake, so I moved to ETC. First: the miners is an ecosystem, the more people in the system is better. Compare Microsoft and Linux, the code of first is closed, and the second is open and better, but more money in the first because more people. Secondly: manners make it impossible to intervene in your money without hard fork, no one will be able to freeze your money, but for one person hard fork will not to do
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