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Title: Proof of Stake Catching On! Post by: DoogieHouser on May 29, 2014, 01:03:23 AM Bitcoin-script to vote on changing from Proof of Work to Proof of Stake...
https://cryptocointalk.com/topic/11079-proposed-block-chain-vote-to-switch-bitcoin-scrypt-from-proof-of-work-to-pure-proof-of-stake/ Title: Re: Proof of Stake Catching On! Post by: TheRealSteve on May 29, 2014, 01:22:17 AM Not about Bitcoin, but about Bitcoin-Scrypt, an altcoin.
Title: Re: Proof of Stake Catching On! Post by: lilfiend on May 29, 2014, 01:52:35 PM If there ever was a hard fork of BTC I hope they'd include a POS system, but hard forks seem to only be done out of necessity these days.
Title: Re: Proof of Stake Catching On! Post by: DoogieHouser on May 30, 2014, 12:15:47 PM If there ever was a hard fork of BTC I hope they'd include a POS system, but hard forks seem to only be done out of necessity these days. I've been reading up on it... Some of the altcoins start as POW, then slowly switch to POS as more coins are mined. Then there's NXT, that is pure POS. Somebody's got to give you some coins before you can start mining or "forging" as NXTers call it. The Bitcoin community seems unaware or apathetic to the impact that ASIC centralization has had. It has re-created the "1% vs. 99%" scenario... Title: Re: Proof of Stake Catching On! Post by: TheRealSteve on May 30, 2014, 12:48:06 PM The Bitcoin community seems unaware or apathetic to the impact that ASIC centralization has had. It has re-created the "1% vs. 99%" scenario... Mostly apathetic, I suppose - especially when people start referring to ASICs as they are just a symptom, not a cause. If it's the 1% who can afford high-end ASICs, then it's the same 1% who can afford a warehouse full of GPUs as long as it's profitable to do so. Bitcoin (and other pure proof-of-work coins) is what it is, and it's unlikely to change any time soon.But hey, that's what altcoins are for, right? :) P.S. the links in your sig are all-but-one broken - stray character creeping into your URL tags Title: Re: Proof of Stake Catching On! Post by: Amph on May 30, 2014, 01:14:09 PM If there ever was a hard fork of BTC I hope they'd include a POS system, but hard forks seem to only be done out of necessity these days. not gonna happen forks are for joke coins, bitcoin isn't one of them Title: Re: Proof of Stake Catching On! Post by: DoogieHouser on May 30, 2014, 04:10:06 PM The Bitcoin community seems unaware or apathetic to the impact that ASIC centralization has had. It has re-created the "1% vs. 99%" scenario... Mostly apathetic, I suppose - especially when people start referring to ASICs as they are just a symptom, not a cause. If it's the 1% who can afford high-end ASICs, then it's the same 1% who can afford a warehouse full of GPUs as long as it's profitable to do so. Bitcoin (and other pure proof-of-work coins) is what it is, and it's unlikely to change any time soon.But hey, that's what altcoins are for, right? :) P.S. the links in your sig are all-but-one broken - stray character creeping into your URL tags It's too bad about Bitcoin, but there are something like 200+ altcoins, now. And Bitcoin-scrypt is trying to save Bitcoin from ASICs... (Sig links are fixed - Darn quotes! - Thanks!) If there ever was a hard fork of BTC I hope they'd include a POS system, but hard forks seem to only be done out of necessity these days. not gonna happen forks are for joke coins, bitcoin isn't one of them Not sure about that--Bitcoin was already forked, last year (or was it 2012?) Title: Re: Proof of Stake Catching On! Post by: atc1 on May 30, 2014, 04:34:59 PM PoS is getting a little annoying now. Every other coin seems to have it. Just because you feel that mining is not going to work out doesn't mean you put a short PoW period. That just exacerbates the problem, where once it hits exchanges,it'll be dumped rapidly,and will essentially end up being a pump'n'dump coin with a short lifespan.
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