*greatest invention since finding gold: PoW*>>uhhh dude lets take the greatest invention, and remove the greatest invention out of it. and sell it!>wow! let's!
imagine being ETH. PoW->PoS.Or BCash, remember bcash? PoW->failed PoW->"PoW" + "finality"
>>61013582I use bcash to pay bills.
>>61013582Proof of stake seems like a more practical and efficient method of doing it desu. It also feels unlikely that anyone that leady owns >50% of the currency would want to destroy it by hacking it, while simply having >50% cpu power doesn't mean you have a vested interest in a coin succeeding.Though I do appreciate the elegance of proof of work
>>61013808>hile simply having >50% cpu power doesn't mean you have a vested interest in a coin succeeding.that's why ASIC based currencies are superior, and part of only Bitcoin is the hard money.
abhwhahahaha this nigga slip in litecoin lmao old man you are like 45 you are bald as fuck you will probably die before it pumps again
The truth hurts
>>61014896The sum of humanity is good thobeit
"proof of work" is just as retarded as the labor theory of value
>>61013573>>61013582>>61014820Reminder that threads like these are ASIC miner corpo propaganda. Every bitcoiner who used to mine in their basement has stopped because now it's only profitable for these massive companies. They want you to support chains they benefit from and hate chains that obsolete their business.That said, all new PoS chains have a problem with token distribution. There's no other way to distribute fresh PoS chain tokens than minting them and choosing who receives how much. There's no good solution to this and team+investor greed usually fucks it up. PoW is a beautiful solution to issuance, but it doesn't work long term for many reasons. I could write a 10 page paper on why but won't bother because this thread will die anyway. As a long term consensus mechanism PoS is superior to PoW in almost all ways, as long as the supply is widely distributed.
>>61014896>Freudian slipI'll be glad to sell my xrp bags when it gets its claws into government
>>61014896*and yet no one succeeded in breaking PoW security*
>>61014914>"proof of work" is just as retarded as the labor theory of valueok pal, then hack the PoW and mint me the 10 next bitcoin blocks!What's that pal? Can't do it? The PoW secured it too strongly?Wow I guess it did provided some actual value after all.
>>61013573fixed that for you, nigger
>>61014896That is one ugly motherfucker
>>61015369if you're not a propaganda bot you know that mining pools are a thing, individual block template generation is a thing, and that nodes decides the rulesand you also know that pos is inherently less securethere is no need to debate about it, the debate has been done dozens (or hundreds) of times in here, find an archive and readanyone still supporting pos now is paid or retarded
>>61015624Not to mention the recent attempt at overtaking xmr via bad faith mining proved that even very all pow mining collaboratives are much more secure than an equivalent valued pos systemI await cfb advertising his failure on doge/ltc any day now lmao
>>61016783>*very smallDammit phoneposting got me again
>>61015567>muh munero>look nsa, look look, I AM BUYING DRUGS, HAHA I BUY DRUGS HAHAHAHA WHAT WILL YOU D-....>WAIT what do you mean delisted from all exchanges??!kids play stupid games, the king plays the long game>gubirment: well since we can't beat them, we better join them...>*becomes the next "gold reserve" of the world*keep playing with your drugs kiddo>but muh privacy! we actually need privacy!right we do! Bitcoin does it. You are just too silly to know that.
>>61013808it is, bitcoin should move to POS it would save a lot of energy
>>61015550Because millions of dollars are spent keeping it running each day…money from the users…money you didn’t get to keep if you sold and more money you had to pay if you bought
>>61015571I see a beautiful example of a giga chad
Bitcoin is a failed technology.All the grand claims that its proponents initially promised never materialized.It's not a fast, nor cheap method of exchanging currency. Traditional banking is still superior in speed & cost for 99% of cases.It's not really a threat nor a viable replacement to the financial/monetary system.Everyone can see your transaction history and your balance. (You're literally risking your life or attracting kidnappers if you have a lot of it).Nobody even uses real Bitcoin (Layer 1) anyway. The great majority of trading volume (and thus most of its valuation) comes from centralized exchanges. If centralized exchanges were all shut down tomorrow, its price would collapse >90% overnight.Even the claim that "you can't print more Bitcoin" is false, too. Since most "Bitcoin" is being traded on centralized exchanges, they can practice fractional reserve banking with it, which means that effectively, they are in fact artificially increasing the supply.The only "success" is that this useless piece of shit is worth a lot of money and great to speculate on. But the technology itself is worthless and has no intrinsic value.I'm all for making easy money speculating if you can, just don't be delusional about the future of this technology. It's a huge game of chicken, and the last one holding BTC when it ends will be the loser.
>>61013573>>61013582Both would have flipped BTC if it wasn't for USDT fuckery.Besides, why bring this up now? You won, and by won, I mean got your ledger spammed with chink memes.
>>61019745bot posthe will never tell you what he exchanges bitcoin for, or what is better than bitcoin, because he has no answer, only a cucked script
