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October 14, 2019, 07:41:42 PM *
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Author Topic: [ANN] Grin | PoW Mining | Electronic transactions for all. Community driven.  (Read 55145 times)
Viper1
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October 10, 2019, 05:07:00 AM
 #1341

They don't cause centralization.
Really? So you think that one person/group controlling 1000s of mining machines where they can achieve more than half the hash rate isn't centralization?

nope.
I see.. Well either you're not all that bright since that's exactly why Satoshi designed what he did, or you have an ulterior motive for spreading that fallacy. Either way, not like it really matters since it's all going to end up being centralized so good luck to you.

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RivAngE
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October 10, 2019, 07:19:20 PM
 #1342

They don't cause centralization.
Really? So you think that one person/group controlling 1000s of mining machines where they can achieve more than half the hash rate isn't centralization?

nope.
I see.. Well either you're not all that bright since that's exactly why Satoshi designed what he did, or you have an ulterior motive for spreading that fallacy. Either way, not like it really matters since it's all going to end up being centralized so good luck to you.

What is that difference between 1000s of mining ASICs, 10000 of mining GPUs and 5 people controlling half of the coins in a PoS system?

For as long as there are poor and rich people, centralizion will keep occurring in one form on another.

SatoNatomato
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October 10, 2019, 08:45:14 PM
 #1343

They don't cause centralization.
Really? So you think that one person/group controlling 1000s of mining machines where they can achieve more than half the hash rate isn't centralization?

nope.
I see.. Well either you're not all that bright since that's exactly why Satoshi designed what he did, or you have an ulterior motive for spreading that fallacy. Either way, not like it really matters since it's all going to end up being centralized so good luck to you.

What is that difference between 1000s of mining ASICs, 10000 of mining GPUs and 5 people controlling half of the coins in a PoS system?

For as long as there are poor and rich people, centralizion will keep occurring in one form on another.
What is the difference between cryptocurrency and central bankers shitting money out of thin air?

If a currency can not exist without being controlled by a few, then its not a currency, its shit.

Miners, hardware, electricity, ups the stakes significantly compared to PoS, which leads faster to centralization and shitcoins.

Lowsnow
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October 11, 2019, 04:21:12 PM
 #1344

They don't cause centralization.
Really? So you think that one person/group controlling 1000s of mining machines where they can achieve more than half the hash rate isn't centralization?

nope.
I see.. Well either you're not all that bright since that's exactly why Satoshi designed what he did, or you have an ulterior motive for spreading that fallacy. Either way, not like it really matters since it's all going to end up being centralized so good luck to you.
At first, most users would run network nodes, but as the network grows beyond a certain point, it would be left more and more to specialists with server farms of specialized hardware.
The design supports letting users just be users.  The more burden it is to run a node, the fewer nodes there will be.  Those few nodes will be big server farms.  The rest will be client nodes that only do transactions and don’t generate.
At equilibrium size, many nodes will be server farms with one or two network nodes that feed the rest of the farm over a LAN.
https://satoshi.nakamotoinstitute.org/emails/cryptography/2/
https://satoshi.nakamotoinstitute.org/posts/bitcointalk/188/
RivAngE
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October 11, 2019, 07:55:04 PM
 #1345

They don't cause centralization.
Really? So you think that one person/group controlling 1000s of mining machines where they can achieve more than half the hash rate isn't centralization?

nope.
I see.. Well either you're not all that bright since that's exactly why Satoshi designed what he did, or you have an ulterior motive for spreading that fallacy. Either way, not like it really matters since it's all going to end up being centralized so good luck to you.

What is that difference between 1000s of mining ASICs, 10000 of mining GPUs and 5 people controlling half of the coins in a PoS system?

For as long as there are poor and rich people, centralizion will keep occurring in one form on another.
What is the difference between cryptocurrency and central bankers shitting money out of thin air?

If a currency can not exist without being controlled by a few, then its not a currency, its shit.

Miners, hardware, electricity, ups the stakes significantly compared to PoS, which leads faster to centralization and shitcoins.

You might believe Bitcoin is decentralized, but it's not much better than altcoins.
Thanks to BTC's aggressive halvings, the few who knew about BTC in its early days obtained more than half of its supply in less than 4 years... way to go for a system which hopes to stay around for a long time huh?
We've currently mined 85.70% of BTC, what will happen when there'll be no more interest to mine it?

On this regard, GRIN's system is safer and more decentralization-friendly.

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October 12, 2019, 12:46:55 AM
 #1346

@RivAngE. Also, Grin's monetary policy removes moon math, removes the early holders advantage and makes it more fair for late adopters.

I love bitcoin, however, there might be something in its monetary policy that is preventing it from wider distribution.

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AlecMe
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October 13, 2019, 04:01:26 AM
 #1347

One worry arises in my head:

'Grin was launched without a premine, ICO, or founders rewards and relies on donations to support the long-term development of the project.'

So, there is a risk associated with a lack of interest at a point that could jeopardise the whole project?

What am I missing?

Also, 'early holders advantage and makes it fairer for late adopters' what I read is: 'Join later and make more' which could combat the above and maybe hope people will donate and not only profit? Greed goes a long way though  Huh
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