Anyway, I do not know the answer.
Topic: Why do people believe that Proof of Work is good for distribution? - page 3. (Read 2067 times)
July 06, 2014, 06:52:49 AM
Why do I have the feeling that I read this question somewhere before?
Anyway, I do not know the answer.
Anyway, I do not know the answer.
July 06, 2014, 06:46:43 AM
Some people's fundamental premise is that "PoW is the best system invented so far" which of course is not an argument or explanation.
Honestly I don't know why some are worshipping PoW. There's nothing which makes it particularly "better distributed" or "fair" compared to more advanced models.
Honestly I don't know why some are worshipping PoW. There's nothing which makes it particularly "better distributed" or "fair" compared to more advanced models.
July 06, 2014, 06:41:56 AM
wow you guys are really working hard i'll give you that ...
that aside, your comments are actually relevant, but that doesn't mean we give up.
PoW is the best system invented so far.
Random Proof of Work distribution can vary, and its in this variance that improvements can obviously be made.
I don't think Proof of Scam (Po$) has a big future, having said that, i'm sure some people are moving their life saving into stocks as well.. so..?? you never know.
that aside, your comments are actually relevant, but that doesn't mean we give up.
PoW is the best system invented so far.
Random Proof of Work distribution can vary, and its in this variance that improvements can obviously be made.
I don't think Proof of Scam (Po$) has a big future, having said that, i'm sure some people are moving their life saving into stocks as well.. so..?? you never know.
July 06, 2014, 06:29:15 AM
MAYBE if we didn't have ASIC's or GPU's, I could buy this. But when you have Satoshi owning almost 9% of all Bitcoin (assuming that is his only wallet.. seems to me like he must own another one he's cashing out from) or this guy who is currently mining over $4 million of BTC per month ( http://www.coindesk.com/inside-north-americas-8m-bitcoin-mining-operation/ ), how does this provide 'fair' distribution? By which I assume that people are saying that even distribution = fair distribution.
Personally, I think that a IPO is the way to go, like Nxt did.. only thing I would've done different was require a government id for every IPO participant. After all, wouldn't surprise me if a couple of people double IPOed.
I also don't have a problem with this distribution for Bitcoin.. some people got in earlier and being 'fair' seems like an impossible fantasy to me but people are arguing that the reason Proof of Work is a major plus is the distribution and I'm just asking.. why do you feel that is the case?
Personally, I think that a IPO is the way to go, like Nxt did.. only thing I would've done different was require a government id for every IPO participant. After all, wouldn't surprise me if a couple of people double IPOed.
I also don't have a problem with this distribution for Bitcoin.. some people got in earlier and being 'fair' seems like an impossible fantasy to me but people are arguing that the reason Proof of Work is a major plus is the distribution and I'm just asking.. why do you feel that is the case?
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