Bitcoin Forum

What do you guys think will it be possible in the near future for POS or some other system to completely overtake POW and make POW obsolete?

there was a big discussion about it in the bear market of 2014 and onwards. seems like we're here again. short answer: no

PoS is dangerous, it puts all of the power back into the hands of the rich. If the industry heads that way we are in for dark times.

pos simply is the same as buying a bond or a cd

except the government does not protect you if the company defaults.

Where are the numbers showing POS is overtaking POW?  For this to happen, there has to be massive and meaningful community support for such a thing.  That means winning the opinions of the majority and I don't see this happening.

I don't like the method of entrance for POS as compared to POW.  POS is just purchasing an asset and then holding it for dividend returns to continuously grow or sell portions of your stake.

I am all for more power efficient POW models.  I would be happy to shift off of GPU mining and onto Pi mining especially if top-20 POW coin developers shifted to this model.  But the problem with that is there isn't the same ubiquity affect with Pi as you get with GPU.  So... I guess I just want to see GPUs with lower TDP, maybe set a standard of 100W max TDP... that would also have the affect of greater ubiquity because more hobby miners would be less concerned with electric costs.

Now, it is important to also mention that either POS or POW will both work.  Ethereum shifting to POS won't make them any less valuable simply because of the tangible business value which cannot be denied.  The same thing can be said for POS coins that are successful.  Basically, POW or POS doesn't matter... what matters are the business value results of the coin.

bitcoin is POW though, remember? btc aint going nowhere