Correct. No mining, no POW expenses.
But as soon as you try to mine (for a 51% attack), expenses are involved. The security model provided by POW is that it is more profitable to use your mining power to support the network than it is to use the mining power to attack the network.
Ok, that really explains why all these PoW altcoins being 51% attacked to death,
Yes, those scams, pump-and-dump schemes, and other trash all failed to secure enough "work" to secure their system prior to launch. No surprise at what happened next there.
and all these PoS altcoin never attacked.
I wan't aware that there haven't been any attacks on any POS yet. Interesting. Once there actually is an attempted attack, let me know how it works out.
Because PoW has a laughable and failed security model.
Seems to be working fine for bitcoin for 6 years now. Bitcoin has survived many attempted attacks.
It's just a matter of time Bitcoin will be attacked by a well funded and determined attacker.
The longer that attacker waits, the more expensive that attack is going to be. I look forward to seeing what happens.
PoW security is a joke.
Perhaps, perhpas not. Either way, it doesn't have anything to do with the flaws in POS.
No doubt!
work costs