Will Proof of Stake kill Proof of Work?

[LuxBtc]

All those discussions about Proof of Stake and Proof of Work, many pros and cons in each one.
The question is, in 5 to 10 years time, will mining be completely changed? Will this GPU frenzy finish in near future?

Show your brilliant thoughts!

Cheers!

[pogsnet]

No, some coins like Dash do it in parallel. Both working on different purpose.

[MarkAz]

To me the answer is no - just like Windows didn't kill the Mac or vice versa, each one solves a different set of problems, and has it's own set of issues...  For example, with PoW you have lots of money being spent unrelated to the coin (on mining equipment), whereas with PoS you'd basically buy the coin and stake it.  Because of this, PoW people are probably more likely to be chasing returns, whereas a PoS person is probably a believer in the coin and will be with it in the long run... Of course PoW can give you much better returns, whereas PoS is much more like a traditional investment, and returns a relatively small but predictable percentage.  Finally, the biggest difference is when it comes to things like forking or control over the coin - with PoW, the miners have a huge influence on things, but they may not be huge holders in the coin, whereas with PoS it's the large holders who have the influence, and presumably they have a vested interest to make better decisions for the coin in the long term (where a miner might just focus on immediate returns).

And ultimately, those are just the two common ones now - who knows what ones will exist in the future?  All of this is new territory, and there are many things left to discover...

[Digital Drug Lord]

proof of stake, or what we should really call peice of shit, is just the way for the rich to take away and tax, a hard working miner. and let me explain

a miner mines in a mine. his hands are broken, from mining, for years this miner was hired to mine and he was able to collect is pay and provide for his family, but as the years went on, the rich wanted to find a way to tax the miner for his hard word.

so they got together with a big company and came up with a NODE system.

they said the NODE would secure the network, and if you worked hard enough, maybe the miner one day could become a NODE. at first everything was fine, but then as time went on, there appeared a tax on the miner.

now, as new work came around, the miner, instead of getting paid for all his work, is getting taxed for his earnings. much of the miners hard work now goes to a NODE. it could even be %50 of the miners pay. if someone bought NODES they now become the tax collector from a miner

the miner is confused because, bitcoin got by well without nodes, didnt it? was a NODE in satoshis white paper? maybe it was I dont know I never read the thing.,.....

[nsummy]

proof of stake, or what we should really call peice of shit, is just the way for the rich to take away and tax, a hard working miner. and let me explain

a miner mines in a mine. his hands are broken, from mining, for years this miner was hired to mine and he was able to collect is pay and provide for his family, but as the years went on, the rich wanted to find a way to tax the miner for his hard word.

so they got together with a big company and came up with a NODE system.

they said the NODE would secure the network, and if you worked hard enough, maybe the miner one day could become a NODE. at first everything was fine, but then as time went on, there appeared a tax on the miner.

now, as new work came around, the miner, instead of getting paid for all his work, is getting taxed for his earnings. much of the miners hard work now goes to a NODE. it could even be %50 of the miners pay. if someone bought NODES they now become the tax collector from a miner

the miner is confused because, bitcoin got by well without nodes, didnt it? was a NODE in satoshis white paper? maybe it was I dont know I never read the thing.,.....

Of course a node was in his whitepaper.  There wouldn't be a blockchain without them.  You are confusing masternode with PoS.  You can stake a coin without being a masternode. 

[nsummy]

All those discussions about Proof of Stake and Proof of Work, many pros and cons in each one.
The question is, in 5 to 10 years time, will mining be completely changed? Will this GPU frenzy finish in near future?

Show your brilliant thoughts!

Cheers!

Are you just trying to get your post count up?  There will be no brilliant thoughts here.  Of course mining will have changed in the next decade.  No one can predict where technology will be in 10 years, let alone cryptocurrency.  There is a speculation subforum for stuff like this.  Adults are trying to make money here.

[blockchange88]

if i have to see another one of these threads without my question being answered, im going to reach through OPs screen and pimp slap him

https://bitcointalk.org/index.php?topic=2892526.0

[manji]

All those discussions about Proof of Stake and Proof of Work, many pros and cons in each one.
The question is, in 5 to 10 years time, will mining be completely changed? Will this GPU frenzy finish in near future?

Show your brilliant thoughts!

Cheers!

every second the mining going the change, such increase or decrease Network difficulty. sometimes has a coin going fork. if the cases GPUs, you must more research and analyze, you will be looking the vendor of GPUs to competition produce GPUs for specific using mining. and impact for another part manufacture such Motherboard also produce the motherboard for specific mining like more have the PCIe Slots.

at the Point. Isn't GPU frenzy but anyone monopolizes the price the GPU.

[LuxBtc]

Cheers guys, I'm going though a test in my small 6 GPU rig miner to tweak some setups. But I was questioning myself about the future of mining for those who are investing on it now. Things like mine without a Master Node can probably be too less profitable.

The point is to research before make any bigger investment on mining and end up with like 100 GPUs stuck at home wile everyone else is trying to sell it as well. Is any of you, bigger miners worried with such an issue?

[manji]

Is any of you, bigger miners worried with such an issue?

I don't worry although I not big miners but I looking the manufacturing produced the computer parts, especially GPU manufacturing, compete for release the newest series of mining specific.

And the creator of Algorithm, produce the new algorithm for coins. actually when the coin fork means a new idea, and keep sustainable for coins.

so mining using GPU never stuck and will sustainable with new innovations.

[GeePeeU]

Proof of work by miners is itself, a check of balance in the powers on a blockchain.

POW helps enable more decentralization. Therefore, any honest crypto that is decentralized oriented will always operate on POW.