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Why? You can make serious profits if you know when to buy. And two, nobody can track the money.
If you use bitcoin,anybody can track the money.Bitcoin is anonymous,but blockchain is open to everybody.
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Bitcoin(PoW) need hash race,and,many computer work,but just one computer's working is effective at one time. Compare to mainframe used in banks,the cost of Bitcoin is much more higher.Now transaction fee is low because the cost of system is undertake by people who buy bitcoins,not people who use bitcoins. One block gives miner 25 new coins now,but new coin's production rate is reducing,more and more people will find the cost of bitcoin is too high.
What about PoS?PoS is better,but not good enough.POS do not need hash race,but also one computer's working is effective at one time.And,it is not fair to miner,The output does not relative to hardware input. If people use virtual currency million times per second,the money spend on computing device、I/O device、electricity bills must not be ignored.Hardware cost/total cost higher,profit rate lower.the money spend on hardware is same,so rich investors will get higher profit rate.Only miner who has many coins is going to mine,it will lead to concentrate.
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Do you like Wittgenstein
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Cheap, fast and borderless payments. Payments need distrupting.
In fact it not cheap and fast at all.Now transaction fee is low because the cost of system is undertake by people who buy bitcoins,not people who use bitcoins.Bitcoin need hash race,and,many miner computer work,but just one computer's working is effective at one time.Compare to bank's mainframe,the cost of Bitcoin system is much more higher.
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I learned investing principle and economics knowledge.
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Good thing: It is free,it is not controlled by country or banks. No inflation Bad thing: It is no worth itself,you must take responsibility for yourself. The cost of bitcoin system is high.
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POW is a breakthrough,but not a good idea. POW need hash computing, and, many computer work,but just one computer's working is effective at one time. compare to bank,the cost of POW is much more higher.
POS is better,but not enough. POS do not need hash race,but also one computer's working is effective at one time. and, it is not fair to miner, the output does not connect to hardware input. only miner who has many coins is going to mine, it will lead to concentrate.
Why? PoW: Miner with most money invested in mining gear gets most coins = rich get richer PoS: Stakeholder with most money invested in stake gets most coins = rich get richer ( not so much, only 0.5% per year in Nxt) The point is the cost of hardware. If people use virtual currency million times per second,the money spend on computing device、I/O device、electricity bills must not be ignored. Hardware cost/total cost higher,profit rate lower.the money spend on hardware is same,so rich investors will get higher profit rate(PoS only).
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one block gives miner 25 new coins now, so the system's cost is undertake by people who buy bitcoins,not people who use bitcoins. but new coin's production rate is reducing, more and more people will find the cost of bitcoin is too higher.
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POW is a breakthrough,but not a good idea. POW need hash computing, and, many computer work,but just one computer's working is effective at one time. compare to bank,the cost of POW is much more higher.
POS is better,but not enough. POS do not need hash race,but also one computer's working is effective at one time. and, it is not fair to miner, the output does not connect to hardware input. only miner who has many coins is going to mine, it will lead to concentrate.
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I agree.it is not a good idea.
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