|
Title: could they or anyone turn Bitcoin to PoS? Post by: Mahmoud70 on July 23, 2021, 12:15:53 PM we heard a lot about mining and how it's affectingcould bitcoin turn to PoS? mother earth, with Elon's talk about how PoW is bad,
Title: Re: could they or anyone turn Bitcoin to PoS? Post by: pooya87 on July 23, 2021, 02:09:28 PM we heard a lot about mining and how it's affectingcould bitcoin turn to PoS? I can assure you that bitcoin will never swap PoW for PoS simply because PoS is too flawed and useless and it can basically be categorized as vaporware that is only good for useless shitcoins such as XRP.Quote with Elon's talk about how PoW is bad, Illiterate people shouldn't really talk about things they have no knowledge about and you shouldn't waste your time reading the nonsense they say either.Title: Re: could they or anyone turn Bitcoin to PoS? Post by: mk4 on July 23, 2021, 02:15:15 PM You can fork Bitcoin and create a PoS version of it; but it wouldn't be Bitcoin. It would be just like the dozens and dozens of failed Bitcoin copies.
tldr; energy usage is necessary when used to secure a protocol of a very important asset such as bitcoin. Title: Re: could they or anyone turn Bitcoin to PoS? Post by: ranochigo on July 23, 2021, 02:17:01 PM No. Any fundamental shift results in a fork and given that there isn't any actual faults with PoW, you'll most likely spawn another altcoin. Some might follow that but most probably won't.
It is important to note that PoW isn't flawed like people often postulate. PoW is designed to consume large amount of resources, in exchange for the security it provides. Trying to reduce that using another scheme wouldn't work by the virtue of not "expending resources" to provide security. Elon Musk never actually said that PoW is bad (or AFAIK), in fact, he puts forth an alternative : DogeCoin, which is also PoW. |