Hi, thats great thanks. I was impressed how fast it updated natively, I had to go out and when I came back it finished. I should have already known the answer but I figure its a good idea to have this info stated regularly or immediately available for anyone to update. Never bad to ask the straight forward questions imo
https://www.cryptocompare.com/mining/guides/what-is-proof-of-stake/Heres a topic I just found on Proof of Stake which could be good reading for anyone who doesnt appreciate the various differences, improvements even that BLK has over the more widely known protocols like Bitcoin
I dont know what exactly happens but the cost of work to the Bitcoin chain possibly could exceed the current trading price. Is there a feedback effect to that problem where miners just arent motivated by processing transactions anymore. Its possible I've got it wrong and I need to double check figures but anyhow I expected to read more reported then I have. Ultimately efficiency of processing does matter and BLK is more efficient then the many POW alternatives, its more resilient then.
If 2017 was year of the price; with BCH splitting and much arguing over which protocol is best and ETH changing their protocol also largely due to costs I think, 2019 might be year of the protocols where it finally matters more which does the job best. To me its about the bits, the smallest transactions handled most cheaply thats what matters and I believe the whole ecosystem is built on the smallest parts. Certainly in any economy the fastest growth available comes from its smallest participants, I think thats the foundations
A proper market has to introduce a positive to a falling price, thats the balance to a market that survives. If house prices fall then the people without a house, who work but cannot afford to buy are the benefactors to that negative. If crypto price falls then it should mean there is some positive especially to new entrants, which I presume comes from efficency of processing the transactions its main use and the cost to do that. Maybe speed available comes more cheaply, the overall throughput. If BTC is somehow not adaptable to that fall in price and its cost to process is too great and since I read nothing on this I guess currently Im presuming wrong, that'd be a big deal
I dont think plain price is the most important or exciting element to crypto, its a pain that its basically reset but theres also the advantage that anyone who sold or 'burnt' previously has an easy excuse to hedge their bets and rebuy to hold some of BLK long term. Selling into weakness has proven a mistake going back many years in crypto, always take some profits out on the way up is my take on how its best managed, crypto moves in cycles of public interest that flips between mania and panic
I dont think the need for crypto to develop and take over some elements of the current politically biased finance industry has gone away, that system is flawed and undermines capitalism in favour of the largest dealers in debt not actual traded value. Hence the majority of the worlds richest countries are technically insolvent at any market based interest return [look at the BOJ especially if you want an extreme case], the weakest link in that chain of debt burden is the plain paper note held mostly by the worker population in each nation.
If that need for transactional growth outside politics hasnt changed then I dont see much need to be negative on prospects going into 2019 and beyond, price is largely speculative even when crypto is popular when it should be based more on use and thats the real base line for any success tbh
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Actually I'm a long way off still it seems but I still think of efficiency as a driving factor, its not all just speculation
