Topic: PoW vs PoS - page 3. (Read 893 times)

Cardano and other POS are premines and İCO,they are all centralized and Governments can crush them easily. Cardano rich list %1 owns %70 of all coins.
POW you trust decentralization, is secure with miners, in POS you trust to the wealthiest Validator.
POW is hard to ban,POS is easily censorable.
POW coins produced by hardware and electricity,POS is like FED,ecb printer machine brr...
POW is Satoshi Nakamoto choice ,POS is ico,premine and firm venture capitalists.

PoS has proven to be a failure

Blockchain power consumption and climate impact is a big concern for many investors. The crypto industry thinks it has a solution in Proof of Stake, but how does it solve the problem and what are the tradeoffs compared to Bitcoin's Proof of Work?

Wanna know more about PoW vs PoS?
You can watch this video - https://youtu.be/Jk0XYmVzilM

there's always pros and cons between PoW and PoS and yes newest altcoin right know using Proof of Stake with reason "environmental friendly" but that was true, i have talk about this but this can be true if some bitcoin  node accept the concept of Pos maybe in future we will see PoS

Another funny meme about Proof of Stake. Which is true, because the developers/implementors of such a network does have control over issuance, when to issue, how much to issue, and to which entities to issue.

Thank you for the information, franky1. Because Blockstream is “destroying the essence” of Bitcoin, which cryptocurrency is holding the real “Bitcoin essence”, that it deserves to be called the “real Bitcoin”?

blockstreams only interest in bitcoin was to incept a few devs to edit bitcoin rules to allow a new transaction format, so that users can offramp away from bitcoin to use altnets..
altnets like liquid and LN(yep they exist)

the funny part is these blockstream people want to confuse the matter by saying anyone against blockstream must be an altcoin lover and should f**k off to some altcoin made by some scammer.
reality is those not liking blockstream are actually loyal to bitcoin(btc)
but not the group of devs that want to break bitcoin just to advertise highlight and garner users over to their altnets

(yea i expect the usual social drama queens to beat their chests and cry about how they have had this discussion so many times before and think they won before. yet history and post data shows they are just boring social queens that dont care about bitcoin(btc))

part of blockstreams business proposal is also to make bitcoin appear useless and userless to attempt to garner support for people to move over to these altnets due to 'faster payments' and 'cheaper payments'

the thing is though. these altnets do not have a network wide consensus of transaction audit. nor do they have a good independant store of account.

lastly although these altnets have no blockchain. no consensus, no network protocol. they want bitcoin to bend to the will of the altnets features rather then change the altnets feature to meet bitcoins.

It’s a narrative the troll-flat-Earthers of the community want to use to spread disinformation, and post as much of such FUD as they can to convince the newbies. Then what do they do? Sell to the newbies “the real and only true Bitcoin” BSV. Hahaha.

+1

I've seen enough in this forum alone to know not everyone's a Blockstream fanboy, and enough in outside sources to know Blockstream fans aren't actually really Bitcoin users themselves.

For example, sure, I thought ther satellite service was cool at some point but no Lightning user I know (yeah I don't know many) flocked to Blockstream's iteration.

And they know full well too they don't wield the same influence Ethereum's core dev did (do). Only need to look back to 2017 to see what happens when someone or a group of powerful people believe they could convince the community of users to go one way and one way only.

Nope. Again, there's no leader in bitcoin and by that I mean an entity that affects it in such an intensive way, that if Blockstream moved to another cryptocurrency, the bitcoin community would follow likewise. This kind of leadership exists in Ethereum for example, where Vitalik decided that the community should abandon Ethereum Classic's chain and most of them did.

Bitcoin suffers the least from this type of weakness due to its significant ideology.

I will, sometime in the future, as I haven't studied a lot those two and I'm in favor of not having a biased opinion towards altcoins, but I've seen enough to have my disagreements for some.

Nothing can be said in the defense of Proof of Stake to make it not a Perpetual Motion Machine. All of them require check points, because of possible attack vectors like Nothing at Stake attacks. Those developers are free to experiment, free to say and believe “it’s better than POW”, but a weakness like that should never ever be in Bitcoin.

Cardano has no critical flaw, but if you feel it is so critical then you should crash cardano to prove your point.
Forgive me for not holding my breath.  

PoW future is not unknowable, it is right in everyone face, just those who for personal financial interest refuse to see it.
PoW is designed to use energy in a competition to earn more than the other competitors.

The huge design flaw and the reason PoW is a technical dead end, their is no limit to the energy required for their competition,
meaning at some point, the PoW miners are not only competing with each other , but also complete against every other person that uses energy.
Your family for example use energy to heat / cool their homes, once bitcoin miners are willing to pay more for the energy than your family,
the price of energy will increase to the point the Bitcoin miners can still afford but your family can't.
But the competition between the miners will eventually reach the point the power grids can no longer sustain them , and the power grids collapse.
Bitcoin PoW Miners are after all nothing but greed in physical form.
Endless Greed not only destroys others , but in the end it destroys the miners as well.

https://forkast.news/headlines/kazakhstans-power-shortages-crypto-miners-scramble/
I imagine the people that are suffering rolling blackouts in Kazakhstan, wish that it was fud and not their reality.

Update:
https://compassmining.io/education/kazakhstans-power-shortage-outage-bitcoin-mining/
https://www.reuters.com/business/energy/kazakhstan-rations-power-after-coal-fired-plant-outages-2021-10-15/
https://eurasianet.org/kazakhstan-to-restrict-crypto-miners-amid-power-shortages


The Leader of Bitcoin is the Bitcoin Dev Team : Blockstream, that has limited the onchain transaction capacity of btc and put out the most of the repeated nonsense.
And the majority of bitcoin cultist regurgitate every false hood they proclaim.
https://www.bitcoinminershashrate.com/cbdc-exploration-organized-by-a-group-of-central-banks/

You should actually study Proof of Stake, you would learn alot.
(Go search Cardano or Algorand resources for information, it will enlighten you as to the truth.)
https://www.algorand.com/resources/blog/silvio-micali-lex-fridman-algorand-and-the-blockchain-trilemma

For one thing
Proof of Work miners have fixed % of domination equals to their hashrates.
Four PoW Pool operators have dominated over 51% for over 4 years now.

Proof of Stake domination fluctuates with every coin staked, meaning a pool that has 51% control until they stake,
dominance immediately drops after staking, no longer maintaining 51%. Some PoS coins even ban staking for a given time frame after a stake occurs.

No Proof of Stake pools can maintain 51% domination of a chain due to their staking % always in flux.

While a PoW network can be 51% attacked , basically forever,  that can never happen with PoS.
It also means the most deadly 51% freeze attack where all new blocks or transactions are blocked from the chain in PoW , that PoS is totally immune from.

Well, every cryptocurrency, besides Monero, that I've dived into was much worse than Bitcoin, so yeah I'll support Bitcoin instead. No need to label it. I'm not into a cult. There's no leader either way.

It's not as easy as you say it is. If they'll ever want to reverse a transaction, the miners will know it. It's down to the miners' decision if their attack is going to succeed or not. The miners receive headers which include the height. Thus, a pool can't attack if the miners are unaware of it.

But, again, same thing happens with Cardano. As I said, less than 1% of the ADA users, hold the majority of the coins. What makes you think it's more resistant to a 51% attack?

Slogans and fud that you push do not make for reality.  It only attempts to warp reality.  The china fud with electricity is rather amusing attempt on your part due to the fact that china is known for lying about well....everything really and, has a 4,000 year history of doing so.  Following this logic you can easily see how you would believe everyone else's fud to push whatever coin they currently have,   I've already pointed out Cardanos critical flaw which is currently unsolvable.  Its betting on AI to catch up and solve the problem.  but I doubt that will happen.  even if it does the fact its designed to be centralized means its has built in corruption problems.

I do think bitcoins future hashrate has a pareto distro problem.  It currently does not.  Where in the future it has this problem is unknowable at this time.

Classic bagholder response.

Every altcoin I have ever branded as a shitcoin has been a project that I have looked into, sometimes even checked the code and when I see they lack basic principles such as decentralization, security, immutability, fair distribution (one way to know this is checking their premine), utility, innovation, etc. then they are automatically considered as a shitcoin.

If you think everycoin not bitcoin is a shitcoin, then you are a bitcoin cult member.  

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Exactly what a slave would say.
The rest of the pools are irrelevant since the top 4 mining pool overlords can 51% attack at a moment's notice.

Freemen want to take part in securing their blockchain, slaves want the rich to it.
LOL, it bothers me not that the truth might be a trigger word for you. 

LOL, V3 blockchains, more like blockchain version 653

And less than 1% of the Cardano users, hold over 50% of the coins. Yeah, you don't have centralized problems, but you have another pimp above your head; your wealth distribution sucks.

But, no! Keep saying cliché phrases about freedom and slavery that sensitize us.

With PoW, you're at the mercy of the pool that incentivizes you the most. There are not only 4, just like there are many pools in PoS.

Another newbie bagholder who thinks centralized premined shitcoins are better than bitcoin even though technology and statistics say otherwise

The statistics say China used 7,510 terawatt hours before banning bitcoin mining (from 2020) and is now in 2021 China is using 8,230 terawatt hours after banning bitcoin mining.
Such protection, much wow.

Not Fud, it is Fact.  
https://gizmodo.com/a-chinese-province-could-ban-bitcoin-mining-to-cut-down-1846397717

Bitcoin decentralized, Nope.
The Top 4 btc mining pool operators control over 61% of all of bitcoin hashrate, looks centralized to me.  
A mere collusion of 4 people is all that is required to doublespend on the bitcoin.

While Cardano has over 670 active staking pools, now that looks decentralized and more secure.  

With a PoS coins any owner can join a pool and stake their coins and participate in the network security.

With PoW, you are at the mercy of the top 4 pool operating overlords, which is ok, if you like being a slave to whims of those 4 people.

PoW is slavery for the masses &  PoS is Freedom , choose according to your true nature.