Proof of Stake
PoS coins generally involve a short PoW stage and the promise of ever-lasting security. This all sounds good, but this short mining period means
future investors or people just looking to mess around with cryptos will have to go through the complex process of exchanging fiat (USD, Euro, etc)
to BTC and then BTC to "Coin". The short mining period and inflation is analogous to a ponzi scheme. Only early adopters will have the opportunity to
make "Coin" and the more coins you have, the more you'll make through interest, sounds pretty unfair to me. On top of this major flaw, PoS coins
encourage you to hold if you wish to make more, this promotes a case of hoarders.
Anyway, PoW doesn't waste electricity, you're making money
and fighting the flaws of fiat. Yea compare to POW to POS and telling that you are not wasting energy...
Im mnig eg. BC and it eat me same amount energy i can mine on 50W laptop and do usual things like watching you tube movie.... while my 3,5Mhs ring script ring eat 1,5khW...
http://www.youtube.com/watch?v=8kyIDRPMshslook at that 25Mhs farm 10kwh wastn't wasted all time, sure
Bullshit... I mine because like others want to be rich some day.
NXT,NXT,Mint just wallet open and you mine u don't block machine.
lests deal with next... points second
"Only early adopters will have the opportunity to
make "Coin" and the more coins you have, the more you'll make through interest, sounds pretty unfair to me. "
Damm do you know that early adopters need to invest more to POS coin to be successful and someone want it to buy it... ?
1st BTC adopter bought pizza for 1000BTC should i tell that early adopters weren't promoted over today miners ?
Difrend rewards won't make such difference .
Same with POS coin they owner taking risk... seriously i don't see difference in promoting early adopters here...
If only that guy with 10000 BTC was't hungry he would be rich now.
And POW coins have a problem with inflation you flow market with coins market can't eat them all and they are mostly being worthless over time
just look charts of POW coins new alts how they fall all the time and while NXT keep price Are you curious how?
And one more POW coins also have hype scheme like Doge 1st adopter mined millions at beginig...
Next point ASICs.
http://www.eyeboot.comCurrent script prices are 2,500$ for about 5Mhs...(just look here on hardware forum)
Those USB miners this is just 1st gen.
I will remind that:
1 gen sha256 Asics was 333Mhs erupters
2 ger sha256 Asics 5,3 Ghs (5 months later)
....
And now we have just big data centers mining BTC, whole idea of decentralization is starting to collapse...
