Topic: Proof-of-Work vs. Proof-of-Stake: Why "Proof-of-Work" is a Misnomer (Read 142 times)

I think the POS method is a potential for the future, but if the coin continues to demand or interest, liquidity, and supporting regulations. between POW and POS both have advantages and disadvantages. POW method is not environmentally friendly, tends to be a waste of energy. If POS is more energy efficient, but if there is no potential, it still loses and ultimately it is often directed to dump.OP says do not put one egg in one basket, and yes now I start, try another and not focus on one thing. . I am not a POW miner, but I prefer to use it, and start choosing Alt that really has potential. expects ETH 2.0 to be released as soon as possible.

OP you are missing a fact about Proof of Work algorithms, with POW a coin can get better value, the more miners are mining the coin there will be higher scarcity which we called high mining difficulty, ive seen many POW coins that have no real use cases but POW keeps them alive simply because it's profitable to mine for miners, this is never the same on POS coins

nice read, i like your analogy.

This post barely got any attention such a shame :/

Thanks! Yeah it was a shame we had to shut down that thing for abuse. I'm still thinking if we could somehow come up with a way to let anyone mine with their identity somehow without abuse taking place, we can always go for it. I also wouldn't want to give anyone financial advice. Good thing you reminded me I'll add a disclaimer to my post so people won't take what I said as financial advice but only my own personal opinion. Cheers!

between these two systems must have differences and weaknesses respectively, for the question why he has POW answers because they have the knowledge to manage POWs and if the question why he chose POS because they have funds will be used for POS, from POS and POW in my opinion if the unification will be good but this will be more work you do, I recommend using POW for famous altcoins like BITCOIN and using POS for famous altcoins as the future is ethereum

nice read man,have a merit on me    
While i dont personally recommend where anyone spend their money in crypto except Mother BTC, some alts are ok.
Swiftcash is one of them imo, decent coin, seems to have a decent team that wants to build a long term project
They did that Discord mining distro which was cool, its a shame people abused it and it had to be suspended haha

Recently, I had a chat with a friend who has bought a bunch of SHA256 ASIC Miners to mine Bitcoin. He was telling me how the price of these ASIC miners has doubled since he bought them, simply because the price of Bitcoin has doubled. He was then telling me that he's not very good at trading but when I told him that what he's done carries just as much risk as trading, since the price of the ASIC miners he's bought depends on the price of Bitcoin, he agreed! But the issue I have with traditional mining goes deeper than this.

In this article I'm going to argue right and left why the so-called Proof-of-Work concept is a misnomer. Work has always traditionally referred to human labor, not machine labor. When it comes to Proof-of-Work mining, you have machines working on behalf of their owners. The more machines you have, the more work you can do. And what does it take to have more machines? More stake! So in theory, it may be called Proof-of-Work but in practice, it's actually Proof-of-Stake. Because the more stake you have, the more machines you can afford, the more work you can do, and therefore, the more Bitcoins you can mine!

So I don't understand why "Proof-of-Work" advocates are so dead set against the Proof-of-Stake concept. I really don't get it. The only reason I can think of why they're so against Proof-of-Stake is because it threatens their stake. Their stake is in ASIC miners and they can use it to mine a lot of coins whereas with Proof-of-Stake concept, their stake has not much value anymore! Nobody wants or needs the hash power of the Bitcoin network to achieve what it's supposed to achieve, under the Proof-of-Stake concept. We can secure the network with Proof-of-Stake without wasting so much energy and encourage investors to invest in the underlying blockchain itself rather than ASIC miners.

What about the new investors? Would they be better off cashing into Proof-of-Stake coins or cashing into ASIC miners and then to Proof-of-Work coins? I think it depends on the Proof-of-Stake coin. Since if the coin they cash in ends up dying, then so does their stake. Whereas with cashing into ASIC miners, they can simply mine something else and their stake wouldn't die. But dying usually happens only if the coin is nothing more than a scam setup so if you do your due-diligence when it comes to Proof-of-Stake coins, and pick something that is not only not a scam setup, but also radically undervalued, then you'll be in the money in my opinion. You can also do half-half if you will to be safer. In other words, don't put all your eggs in one basket. Invest in ASIC miners, and mine Bitcoin. Pay the electricity and buy a Proof-of-Stake altcoin with the profits and then start mining that altcoin as well.

To read more about the superiority of the Proof-of-Stake concept over the Proof-of-Work concept, I would like to recommend you to have a look into the SwiftCash whitepaper. This is a project that I've been involved before its launch and I can personally vouch that it's not only not a scam setup, but also currently extremely undervalued with a marketcap of less than 100K USD! That means an average US citizen can buy the whole market by saving his annual salary in 2-3 years. Make sure you don't rush however when it comes to buying. It's so easy to spike this marketcap if demand picks up. Always try to buy as low as possible. This is not financial advice by the way so please do your own due-diligence in everything!