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Title: Mining Post by: loverscrypto on May 06, 2018, 02:55:21 AM what's the better using proof of work or proof of stake
Title: Re: Mining Post by: jillscarbrough on May 06, 2018, 03:01:15 PM Better regarding what? Profit? keeping network health and safe? or what?
If your question related to profit, it will depend on many things. If you are a miner, of course, PoW will suitable for you. If you can't do mining, PoS may can be your choices or may combine it would be better. This is a post that compares between PoS, PoW and Cloud mining. Each seems to have it's purpose and the choice varies on Coin Fundamentals, Upfront Investment, Network Hashrate, Mining Difficulty. Cloud Mining (assuming sites like Hashflare, Genesis Mining) * Probably the least desirable and the most risky, but if you can get a cheap contract (lifetime one) then you good in terms of returns. POS/MN * Proof of Stake is easiest to setup technically * Masternode can be a pain to get working. * For me, you need to be able to get into the coin early to see real benefits, otherwise you're competing to maintain your "network weight" all the time. * It also requires an investment front up. * Another aspect that is very important is that MN/POS is not flexible because once you buy into the coin, you're stuck with it until you sell it. This as opposed to hardware (maybe cloud) mining where you still have a choice afterwards. Hardware * Hardware is the least risky of the three options. * You can go the ASIC or the GPU route. * You own the hardware asset in the end. This is an underrated aspect * Requires investment, but this is less risky than a POS investment. GPUs can do gaming if crypto fails LOL. * The yields on hardware mining vary depending on how deep you are in and the difficulty of the blockchain. Personally, I put it as higher than POS/MN generally (except Dash and maybe Linda) * Hardware is most flexible as you can switch the coin you want to mine (even ASICS). Rental Based Mining (not listed as an option, assuming sites like Nicehash) * Slightly more risky than hardware mining because of its nature (sending someone coin to mine on your behalf) * I think more expensive than Cloud and Hardware. Could be wrong. * More flexible than cloud/POS because you have choice of rig (and therefore algo) * Yields a nice return on new coins (early blockchain) Title: Re: Mining Post by: gotminer on June 07, 2018, 06:23:42 PM Better regarding what? Profit? keeping network health and safe? or what? If your question related to profit, it will depend on many things. If you are a miner, of course, PoW will suitable for you. If you can't do mining, PoS may can be your choices or may combine it would be better. This is a post that compares between PoS, PoW and Cloud mining. Each seems to have it's purpose and the choice varies on Coin Fundamentals, Upfront Investment, Network Hashrate, Mining Difficulty. Cloud Mining (assuming sites like Hashflare, Genesis Mining) * Probably the least desirable and the most risky, but if you can get a cheap contract (lifetime one) then you good in terms of returns. POS/MN * Proof of Stake is easiest to setup technically * Masternode can be a pain to get working. * For me, you need to be able to get into the coin early to see real benefits, otherwise you're competing to maintain your "network weight" all the time. * It also requires an investment front up. * Another aspect that is very important is that MN/POS is not flexible because once you buy into the coin, you're stuck with it until you sell it. This as opposed to hardware (maybe cloud) mining where you still have a choice afterwards. Hardware * Hardware is the least risky of the three options. * You can go the ASIC or the GPU route. * You own the hardware asset in the end. This is an underrated aspect * Requires investment, but this is less risky than a POS investment. GPUs can do gaming if crypto fails LOL. * The yields on hardware mining vary depending on how deep you are in and the difficulty of the blockchain. Personally, I put it as higher than POS/MN generally (except Dash and maybe Linda) * Hardware is most flexible as you can switch the coin you want to mine (even ASICS). Rental Based Mining (not listed as an option, assuming sites like Nicehash) * Slightly more risky than hardware mining because of its nature (sending someone coin to mine on your behalf) * I think more expensive than Cloud and Hardware. Could be wrong. * More flexible than cloud/POS because you have choice of rig (and therefore algo) * Yields a nice return on new coins (early blockchain) Well when you do mining they are various hardwares,cloud mining and POS which you can get a bitcoin but some mining hardwares or softwares will make you hard to find because some are being virus especially links that's why you should be more knowledgeable to operate this system,well infact there is no easy way to get but if you are persevere and trust of your tools so then you can achieve what you want but the most important is the security as well. Lol ... Wow. I just have no words for that nonsense. Title: Re: Mining Post by: jillscarbrough on June 07, 2018, 08:27:51 PM Well when you do mining they are various hardwares,cloud mining and POS which you can get a bitcoin but some mining hardwares or softwares will make you hard to find because some are being virus especially links that's why you should be more knowledgeable to operate this system,well infact there is no easy way to get but if you are persevere and trust of your tools so then you can achieve what you want but the most important is the security as well. Are you just getting up? the most important is the security Yeah, you were right, but hold down, what are you talking about? Are you a miner? ??? Title: Re: Mining Post by: gotminer on June 07, 2018, 08:34:55 PM Well when you do mining they are various hardwares,cloud mining and POS which you can get a bitcoin but some mining hardwares or softwares will make you hard to find because some are being virus especially links that's why you should be more knowledgeable to operate this system,well infact there is no easy way to get but if you are persevere and trust of your tools so then you can achieve what you want but the most important is the security as well. Are you just getting up? Lol ... ;D ... Hasn't had his coffee yet. Title: Re: Mining Post by: jillscarbrough on June 08, 2018, 10:33:35 AM Are you just getting up? Lol ... ;D ... Hasn't had his coffee yet. I think he has already prepared the coffee, but it may spill. And then, he started typing randomly without knows what been typed. :D Title: Re: Mining Post by: edwardceng on June 08, 2018, 01:25:39 PM both are good
it's not a question that makes us gain new insights about cryptocurrency, please use google.com before posting questions. Title: Re: Mining Post by: payafrique on June 08, 2018, 01:58:47 PM POS easier to setup
Title: Re: Mining Post by: SixOfFive on June 09, 2018, 05:26:11 AM Generally proof of stakes is considered better than proof of work. In a distributed consensus-based on the proof of Work, miners need a lot of energy. Only singly Bitcoin transaction requires the same amount of electricity as required by 1.5 American households every day. Also, rewards for the creation of a new block are different: with Proof-of-Work, the miner may potentially own none of the digital currency he/she is mining. In Proof-of-Stake, forgers are always those who own the coins minted.
Title: Re: Mining Post by: Amph on June 09, 2018, 05:43:25 AM proof of stake coin tend to be dumped in the long time, because of how it work, proof of work might work better in the long term if the dev is good and the coin is promising
Title: Re: Mining Post by: jillscarbrough on June 10, 2018, 08:42:36 PM Generally proof of stakes is considered better than proof of work. In a distributed consensus-based on the proof of Work, miners need a lot of energy. Only singly Bitcoin transaction requires the same amount of electricity as required by 1.5 American households every day. That was only on efficiency. in fact, Proof of Stake is not as safe as Proof of Work. Also, rewards for the creation of a new block are different: with Proof-of-Work, the miner may potentially own none of the digital currency he/she is mining. A bit confused with this statement, maybe you can explain what's that means! ??? Title: Re: Mining Post by: awais3344_1 on June 11, 2018, 10:01:43 AM proof of stake is not safe. Poof of work is power hungry. Choose one.
Proof of stake is considered unsafe because one person holding big amount of coins could fork the blockchain. Low difficulty if people are offline = forked blockchain. But proof of work also has 51% attack. Title: Re: Mining Post by: edwardceng on June 11, 2018, 03:50:51 PM proof of stake is not safe. Poof of work is power hungry. Choose one. seeing from which side?whether from the type/ series GPUs? if see from there, of course, have a different such as if see from the power consumption between NVIDIA and AMD cards. of course, NVIDIA doesn't have hungry power consumption but if see AMD such as R9 I agree has hungry power consumption. Title: Re: Mining Post by: jillscarbrough on June 11, 2018, 07:43:40 PM proof of stake is not safe. Poof of work is power hungry. Choose one. Combine it? ;D Proof of stake is considered unsafe because one person holding big amount of coins could fork the blockchain. Low difficulty if people are offline = forked blockchain. But proof of work also has 51% attack. Proof of Stake more suitable for people whose like on investment, People with technical and exploring type more ideal with Proof of Work. Title: Re: Mining Post by: klwolf2000 on June 12, 2018, 04:59:25 PM I think hybrid like Decred is the best. It has POW and POS and their POS also happens to be the most profitable at 1.38% a month as of today. The best thing about POS is that you buy and hold, earn interest and can sell at any time. With POW you need to dedicate a lot of money into the equipment, need to pay costs of electricity and if the network gets flooded with ASICS you lose your ass and will never make your money back unless you mined and hold for the long run. Either way you have to hold but POS is the safest bet.
Title: Re: Mining Post by: smoolae on June 12, 2018, 06:41:16 PM Proof of work is a bit more safe to do (take into account that you sell as soon as you get your coins) - coin starts to lose value just mine something else.
Proof of stake on the other hand - you are probably holding some heavy bags to get nice rewards and now when the value of the coin goes down you just have a heavy bag to hodl. Title: Re: Mining Post by: aundroid on June 12, 2018, 08:25:03 PM At the moment Proof of Work is the way to go.
PoS has lots of issues that need to be solved first like the Nothing-at-Stake and LongRange-Attack issues! Title: Re: Mining Post by: awais3344_1 on June 15, 2018, 09:28:52 AM proof of stake is not safe. Poof of work is power hungry. Choose one. seeing from which side?whether from the type/ series GPUs? if see from there, of course, have a different such as if see from the power consumption between NVIDIA and AMD cards. of course, NVIDIA doesn't have hungry power consumption but if see AMD such as R9 I agree has hungry power consumption. I was talking about overall though. Say bitcoin uses as much electricity as a country. If someone did study on the whole crypto market, it could be so much more. PoS has little power consumption compared to pow. Title: Re: Mining Post by: Hobbledehoy on June 15, 2018, 10:14:45 AM I think best is to have several cryptocurrencies, some with PoS and some with PoW.
PoW sure costs a lot of electricity. But it also creates a demand for a constant source of energy. Demand for constant sources of energy might drive technological innovation in renewable energy. Energy efficiency and even the decentralization of energy generation. PoS can be great. Delegated proof of stake might not be as decentralized, but it can work really well if those in power are responsible and care about the project. Not much energy needed Non delegated proof of stake can work but often it requires too high inflation for people to care and it will often not have as many running nodes as wanted. Title: Re: Mining Post by: realaccountakira on June 15, 2018, 11:32:38 AM proof of stake is not safe. Poof of work is power hungry. Choose one. Proof of stake is considered unsafe because one person holding big amount of coins could fork the blockchain. Low difficulty if people are offline = forked blockchain. But proof of work also has 51% attack. While your statements are the common sentiment when it comes to comparing Proof-Of-Stake and Proof-Of-Work, it is not necessarily always correct. The argument that POS is weaker in terms of security is only because that it is extremely young technology. As developers and companies build out this tech, it will soon reach levels of security unparalleled even by POW. This is the natural course of evolution and innovation. There will be always be some new invention that will make existing tech obsolete. |