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Author Topic: PoW vs PoS  (Read 832 times)
TangentC
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October 30, 2021, 01:23:56 AM
Last edit: October 30, 2021, 02:34:56 AM by TangentC
 #61

Slogans and fud that you push do not make for reality.  It only attempts to warp reality.  The china fud with electricity is rather amusing attempt on your part due to the fact that china is known for lying about well....everything really and, has a 4,000 year history of doing so.  Following this logic you can easily see how you would believe everyone else's fud to push whatever coin they currently have,   I've already pointed out Cardanos critical flaw which is currently unsolvable.  Its betting on AI to catch up and solve the problem.  but I doubt that will happen.  even if it does the fact its designed to be centralized means its has built in corruption problems.

I do think bitcoins future hashrate has a pareto distro problem.  It currently does not.  Where in the future it has this problem is unknowable at this time.

Cardano has no critical flaw, but if you feel it is so critical then you should crash cardano to prove your point.
Forgive me for not holding my breath.  Cheesy

PoW future is not unknowable, it is right in everyone face, just those who for personal financial interest refuse to see it.
PoW is designed to use energy in a competition to earn more than the other competitors.

The huge design flaw and the reason PoW is a technical dead end, their is no limit to the energy required for their competition,
meaning at some point, the PoW miners are not only competing with each other , but also complete against every other person that uses energy.
Your family for example use energy to heat / cool their homes, once bitcoin miners are willing to pay more for the energy than your family,
the price of energy will increase to the point the Bitcoin miners can still afford but your family can't.
But the competition between the miners will eventually reach the point the power grids can no longer sustain them , and the power grids collapse.
Bitcoin PoW Miners are after all nothing but greed in physical form.
Endless Greed not only destroys others , but in the end it destroys the miners as well.

https://forkast.news/headlines/kazakhstans-power-shortages-crypto-miners-scramble/
I imagine the people that are suffering rolling blackouts in Kazakhstan, wish that it was fud and not their reality.

Update:
https://compassmining.io/education/kazakhstans-power-shortage-outage-bitcoin-mining/
https://www.reuters.com/business/energy/kazakhstan-rations-power-after-coal-fired-plant-outages-2021-10-15/
https://eurasianet.org/kazakhstan-to-restrict-crypto-miners-amid-power-shortages
Quote
Facing a sudden energy shortage, officials must be regretting their recent embrace of the crypto industry.
"We have seen that our [country's] electricity consumption has literally increased by 7 percent in one year.
China offered a reality check this summer when it banned cryptocurrency use and mining on its territory.
Many farmers simply moved operations across the border, turning Kazakhstan into the world’s second-largest crypto miner.
The country’s share of global mining soared from 1.4 percent in September 2019 to over 18 percent
*The only real question is how long before Kazakhstan bans PoW based bitcoin to protect their people and power grid. *

PoW is a winner-take-all-let-the-rest-of-the-world-be-damned algorithm .
Which in the end there will be no winners.

PoS is a cooperative secured network, which requires user join forces to secure the network , at the same time, uses less energy per household than an xbox.

But believe what you like, you have ~2 years before the truth can no longer be hid , even by the cult mentality,
no lights, no heat, no ac, will do what the most profound logical argument can't, it will snap you out of the bitcoin cult mentality.
 Cool






If you think everycoin not bitcoin is a shitcoin, then you are a bitcoin cult member.
Well, every cryptocurrency, besides Monero, that I've dived into was much worse than Bitcoin, so yeah I'll support Bitcoin instead. No need to label it. I'm not into a cult. There's no leader either way.

The rest of the pools are irrelevant since the top 4 mining pool overlords can 51% attack at a moment's notice.
It's not as easy as you say it is. If they'll ever want to reverse a transaction, the miners will know it. It's down to the miners' decision if their attack is going to succeed or not. The miners receive headers which include the height. Thus, a pool can't attack if the miners are unaware of it.

But, again, same thing happens with Cardano. As I said, less than 1% of the ADA users, hold the majority of the coins. What makes you think it's more resistant to a 51% attack?


The Leader of Bitcoin is the Bitcoin Dev Team : Blockstream, that has limited the onchain transaction capacity of btc and put out the most of the repeated nonsense.
And the majority of bitcoin cultist regurgitate every false hood they proclaim.
https://www.bitcoinminershashrate.com/cbdc-exploration-organized-by-a-group-of-central-banks/
Quote
Silvergate Bank made the first commitment from the crypto community to the digital assets department.
This is Benjamin Richman, former director of business development and partnerships at the Blockstream bitcoin technology start-up.

You should actually study Proof of Stake, you would learn alot.
(Go search Cardano or Algorand resources for information, it will enlighten you as to the truth.)
https://www.algorand.com/resources/blog/silvio-micali-lex-fridman-algorand-and-the-blockchain-trilemma

For one thing
Proof of Work miners have fixed % of domination equals to their hashrates.
Four PoW Pool operators have dominated over 51% for over 4 years now.

Proof of Stake domination fluctuates with every coin staked, meaning a pool that has 51% control until they stake,
dominance immediately drops after staking, no longer maintaining 51%. Some PoS coins even ban staking for a given time frame after a stake occurs.

No Proof of Stake pools can maintain 51% domination of a chain due to their staking % always in flux.

While a PoW network can be 51% attacked , basically forever,  that can never happen with PoS.
It also means the most deadly 51% freeze attack where all new blocks or transactions are blocked from the chain in PoW , that PoS is totally immune from. Wink

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October 30, 2021, 11:22:08 AM
 #62

Nothing can be said in the defense of Proof of Stake to make it not a Perpetual Motion Machine. All of them require check points, because of possible attack vectors like Nothing at Stake attacks. Those developers are free to experiment, free to say and believe “it’s better than POW”, but a weakness like that should never ever be in Bitcoin.

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October 30, 2021, 12:51:21 PM
Merited by buwaytress (1)
 #63

The Leader of Bitcoin is the Bitcoin Dev Team : Blockstream
Nope. Again, there's no leader in bitcoin and by that I mean an entity that affects it in such an intensive way, that if Blockstream moved to another cryptocurrency, the bitcoin community would follow likewise. This kind of leadership exists in Ethereum for example, where Vitalik decided that the community should abandon Ethereum Classic's chain and most of them did.

Bitcoin suffers the least from this type of weakness due to its significant ideology.

You should actually study Proof of Stake, you would learn alot.
(Go search Cardano or Algorand resources for information, it will enlighten you as to the truth.)
I will, sometime in the future, as I haven't studied a lot those two and I'm in favor of not having a biased opinion towards altcoins, but I've seen enough to have my disagreements for some.

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October 30, 2021, 03:57:24 PM
 #64

The Leader of Bitcoin is the Bitcoin Dev Team : Blockstream
Nope. Again, there's no leader in bitcoin and by that I mean an entity that affects it in such an intensive way, that if Blockstream moved to another cryptocurrency, the bitcoin community would follow likewise. This kind of leadership exists in Ethereum for example, where Vitalik decided that the community should abandon Ethereum Classic's chain and most of them did.

Bitcoin suffers the least from this type of weakness due to its significant ideology.

+1

I've seen enough in this forum alone to know not everyone's a Blockstream fanboy, and enough in outside sources to know Blockstream fans aren't actually really Bitcoin users themselves.

For example, sure, I thought ther satellite service was cool at some point but no Lightning user I know (yeah I don't know many) flocked to Blockstream's iteration.

And they know full well too they don't wield the same influence Ethereum's core dev did (do). Only need to look back to 2017 to see what happens when someone or a group of powerful people believe they could convince the community of users to go one way and one way only.

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November 01, 2021, 10:27:19 AM
 #65

The Leader of Bitcoin is the Bitcoin Dev Team : Blockstream
Nope. Again, there's no leader in bitcoin and by that I mean an entity that affects it in such an intensive way, that if Blockstream moved to another cryptocurrency, the bitcoin community would follow likewise. This kind of leadership exists in Ethereum for example, where Vitalik decided that the community should abandon Ethereum Classic's chain and most of them did.

Bitcoin suffers the least from this type of weakness due to its significant ideology.

+1

I've seen enough in this forum alone to know not everyone's a Blockstream fanboy, and enough in outside sources to know Blockstream fans aren't actually really Bitcoin users themselves.

For example, sure, I thought ther satellite service was cool at some point but no Lightning user I know (yeah I don't know many) flocked to Blockstream's iteration.

And they know full well too they don't wield the same influence Ethereum's core dev did (do). Only need to look back to 2017 to see what happens when someone or a group of powerful people believe they could convince the community of users to go one way and one way only.


It’s a narrative the troll-flat-Earthers of the community want to use to spread disinformation, and post as much of such FUD as they can to convince the newbies. Then what do they do? Sell to the newbies “the real and only true Bitcoin” BSV. Hahaha.

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November 01, 2021, 07:13:53 PM
 #66

blockstreams only interest in bitcoin was to incept a few devs to edit bitcoin rules to allow a new transaction format, so that users can offramp away from bitcoin to use altnets..
altnets like liquid and LN(yep they exist)

the funny part is these blockstream people want to confuse the matter by saying anyone against blockstream must be an altcoin lover and should f**k off to some altcoin made by some scammer.
reality is those not liking blockstream are actually loyal to bitcoin(btc)
but not the group of devs that want to break bitcoin just to advertise highlight and garner users over to their altnets

(yea i expect the usual social drama queens to beat their chests and cry about how they have had this discussion so many times before and think they won before. yet history and post data shows they are just boring social queens that dont care about bitcoin(btc))

part of blockstreams business proposal is also to make bitcoin appear useless and userless to attempt to garner support for people to move over to these altnets due to 'faster payments' and 'cheaper payments'

the thing is though. these altnets do not have a network wide consensus of transaction audit. nor do they have a good independant store of account.

lastly although these altnets have no blockchain. no consensus, no network protocol. they want bitcoin to bend to the will of the altnets features rather then change the altnets feature to meet bitcoins.

I DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Please do your own research & respect what is written here as both opinion & information gleaned from experience. many people replying with insults but no on-topic content substance, automatically are 'facepalmed' and yawned at
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November 02, 2021, 12:08:19 PM
 #67

Thank you for the information, franky1. Because Blockstream is “destroying the essence” of Bitcoin, which cryptocurrency is holding the real “Bitcoin essence”, that it deserves to be called the “real Bitcoin”? Cool

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November 20, 2021, 11:15:10 AM
 #68

Another funny meme about Proof of Stake. Which is true, because the developers/implementors of such a network does have control over issuance, when to issue, how much to issue, and to which entities to issue.


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November 20, 2021, 11:45:13 AM
 #69

there's always pros and cons between PoW and PoS and yes newest altcoin right know using Proof of Stake with reason "environmental friendly" but that was true, i have talk about this but this can be true if some bitcoin  node accept the concept of Pos maybe in future we will see PoS

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November 30, 2021, 05:22:40 PM
 #70

Blockchain power consumption and climate impact is a big concern for many investors. The crypto industry thinks it has a solution in Proof of Stake, but how does it solve the problem and what are the tradeoffs compared to Bitcoin's Proof of Work?

Wanna know more about PoW vs PoS?
You can watch this video - https://youtu.be/Jk0XYmVzilM
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November 30, 2021, 06:14:49 PM
 #71



PoS has proven to be a failure

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November 30, 2021, 06:46:15 PM
 #72

Slogans and fud that you push do not make for reality.  It only attempts to warp reality.  The china fud with electricity is rather amusing attempt on your part due to the fact that china is known for lying about well....everything really and, has a 4,000 year history of doing so.  Following this logic you can easily see how you would believe everyone else's fud to push whatever coin they currently have,   I've already pointed out Cardanos critical flaw which is currently unsolvable.  Its betting on AI to catch up and solve the problem.  but I doubt that will happen.  even if it does the fact its designed to be centralized means its has built in corruption problems.

I do think bitcoins future hashrate has a pareto distro problem.  It currently does not.  Where in the future it has this problem is unknowable at this time.

Cardano has no critical flaw, but if you feel it is so critical then you should crash cardano to prove your point.
Forgive me for not holding my breath.  Cheesy

PoW future is not unknowable, it is right in everyone face, just those who for personal financial interest refuse to see it.
PoW is designed to use energy in a competition to earn more than the other competitors.

The huge design flaw and the reason PoW is a technical dead end, their is no limit to the energy required for their competition,
meaning at some point, the PoW miners are not only competing with each other , but also complete against every other person that uses energy.
Your family for example use energy to heat / cool their homes, once bitcoin miners are willing to pay more for the energy than your family,
the price of energy will increase to the point the Bitcoin miners can still afford but your family can't.
But the competition between the miners will eventually reach the point the power grids can no longer sustain them , and the power grids collapse.
Bitcoin PoW Miners are after all nothing but greed in physical form.
Endless Greed not only destroys others , but in the end it destroys the miners as well.

https://forkast.news/headlines/kazakhstans-power-shortages-crypto-miners-scramble/
I imagine the people that are suffering rolling blackouts in Kazakhstan, wish that it was fud and not their reality.

Update:
https://compassmining.io/education/kazakhstans-power-shortage-outage-bitcoin-mining/
https://www.reuters.com/business/energy/kazakhstan-rations-power-after-coal-fired-plant-outages-2021-10-15/
https://eurasianet.org/kazakhstan-to-restrict-crypto-miners-amid-power-shortages
Quote
Facing a sudden energy shortage, officials must be regretting their recent embrace of the crypto industry.
"We have seen that our [country's] electricity consumption has literally increased by 7 percent in one year.
China offered a reality check this summer when it banned cryptocurrency use and mining on its territory.
Many farmers simply moved operations across the border, turning Kazakhstan into the world’s second-largest crypto miner.
The country’s share of global mining soared from 1.4 percent in September 2019 to over 18 percent
*The only real question is how long before Kazakhstan bans PoW based bitcoin to protect their people and power grid. *

PoW is a winner-take-all-let-the-rest-of-the-world-be-damned algorithm .
Which in the end there will be no winners.

PoS is a cooperative secured network, which requires user join forces to secure the network , at the same time, uses less energy per household than an xbox.

But believe what you like, you have ~2 years before the truth can no longer be hid , even by the cult mentality,
no lights, no heat, no ac, will do what the most profound logical argument can't, it will snap you out of the bitcoin cult mentality.
 Cool






If you think everycoin not bitcoin is a shitcoin, then you are a bitcoin cult member.
Well, every cryptocurrency, besides Monero, that I've dived into was much worse than Bitcoin, so yeah I'll support Bitcoin instead. No need to label it. I'm not into a cult. There's no leader either way.

The rest of the pools are irrelevant since the top 4 mining pool overlords can 51% attack at a moment's notice.
It's not as easy as you say it is. If they'll ever want to reverse a transaction, the miners will know it. It's down to the miners' decision if their attack is going to succeed or not. The miners receive headers which include the height. Thus, a pool can't attack if the miners are unaware of it.

But, again, same thing happens with Cardano. As I said, less than 1% of the ADA users, hold the majority of the coins. What makes you think it's more resistant to a 51% attack?


The Leader of Bitcoin is the Bitcoin Dev Team : Blockstream, that has limited the onchain transaction capacity of btc and put out the most of the repeated nonsense.
And the majority of bitcoin cultist regurgitate every false hood they proclaim.
https://www.bitcoinminershashrate.com/cbdc-exploration-organized-by-a-group-of-central-banks/
Quote
Silvergate Bank made the first commitment from the crypto community to the digital assets department.
This is Benjamin Richman, former director of business development and partnerships at the Blockstream bitcoin technology start-up.

You should actually study Proof of Stake, you would learn alot.
(Go search Cardano or Algorand resources for information, it will enlighten you as to the truth.)
https://www.algorand.com/resources/blog/silvio-micali-lex-fridman-algorand-and-the-blockchain-trilemma

For one thing
Proof of Work miners have fixed % of domination equals to their hashrates.
Four PoW Pool operators have dominated over 51% for over 4 years now.

Proof of Stake domination fluctuates with every coin staked, meaning a pool that has 51% control until they stake,
dominance immediately drops after staking, no longer maintaining 51%. Some PoS coins even ban staking for a given time frame after a stake occurs.

No Proof of Stake pools can maintain 51% domination of a chain due to their staking % always in flux.

While a PoW network can be 51% attacked , basically forever,  that can never happen with PoS.
It also means the most deadly 51% freeze attack where all new blocks or transactions are blocked from the chain in PoW , that PoS is totally immune from. Wink



Cardano and other POS are premines and İCO,they are all centralized and Governments can crush them easily. Cardano rich list %1 owns %70 of all coins.
POW you trust decentralization, is secure with miners, in POS you trust to the wealthiest Validator.
POW is hard to ban,POS is easily censorable.
POW coins produced by hardware and electricity,POS is like FED,ecb printer machine brr...
POW is Satoshi Nakamoto choice ,POS is ico,premine and firm venture capitalists.
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November 30, 2021, 08:55:50 PM
 #73

Slogans and fud that you push do not make for reality.  It only attempts to warp reality.  The china fud with electricity is rather amusing attempt on your part due to the fact that china is known for lying about well....everything really and, has a 4,000 year history of doing so.  Following this logic you can easily see how you would believe everyone else's fud to push whatever coin they currently have,   I've already pointed out Cardanos critical flaw which is currently unsolvable.  Its betting on AI to catch up and solve the problem.  but I doubt that will happen.  even if it does the fact its designed to be centralized means its has built in corruption problems.

I do think bitcoins future hashrate has a pareto distro problem.  It currently does not.  Where in the future it has this problem is unknowable at this time.

Cardano has no critical flaw, but if you feel it is so critical then you should crash cardano to prove your point.
Forgive me for not holding my breath.  Cheesy

PoW future is not unknowable, it is right in everyone face, just those who for personal financial interest refuse to see it.
PoW is designed to use energy in a competition to earn more than the other competitors.

The huge design flaw and the reason PoW is a technical dead end, their is no limit to the energy required for their competition,
meaning at some point, the PoW miners are not only competing with each other , but also complete against every other person that uses energy.
Your family for example use energy to heat / cool their homes, once bitcoin miners are willing to pay more for the energy than your family,
the price of energy will increase to the point the Bitcoin miners can still afford but your family can't.
But the competition between the miners will eventually reach the point the power grids can no longer sustain them , and the power grids collapse.
Bitcoin PoW Miners are after all nothing but greed in physical form.
Endless Greed not only destroys others , but in the end it destroys the miners as well.

https://forkast.news/headlines/kazakhstans-power-shortages-crypto-miners-scramble/
I imagine the people that are suffering rolling blackouts in Kazakhstan, wish that it was fud and not their reality.

Update:
https://compassmining.io/education/kazakhstans-power-shortage-outage-bitcoin-mining/
https://www.reuters.com/business/energy/kazakhstan-rations-power-after-coal-fired-plant-outages-2021-10-15/
https://eurasianet.org/kazakhstan-to-restrict-crypto-miners-amid-power-shortages
Quote
Facing a sudden energy shortage, officials must be regretting their recent embrace of the crypto industry.
"We have seen that our [country's] electricity consumption has literally increased by 7 percent in one year.
China offered a reality check this summer when it banned cryptocurrency use and mining on its territory.
Many farmers simply moved operations across the border, turning Kazakhstan into the world’s second-largest crypto miner.
The country’s share of global mining soared from 1.4 percent in September 2019 to over 18 percent
*The only real question is how long before Kazakhstan bans PoW based bitcoin to protect their people and power grid. *

PoW is a winner-take-all-let-the-rest-of-the-world-be-damned algorithm .
Which in the end there will be no winners.

PoS is a cooperative secured network, which requires user join forces to secure the network , at the same time, uses less energy per household than an xbox.

But believe what you like, you have ~2 years before the truth can no longer be hid , even by the cult mentality,
no lights, no heat, no ac, will do what the most profound logical argument can't, it will snap you out of the bitcoin cult mentality.
 Cool






If you think everycoin not bitcoin is a shitcoin, then you are a bitcoin cult member.
Well, every cryptocurrency, besides Monero, that I've dived into was much worse than Bitcoin, so yeah I'll support Bitcoin instead. No need to label it. I'm not into a cult. There's no leader either way.

The rest of the pools are irrelevant since the top 4 mining pool overlords can 51% attack at a moment's notice.
It's not as easy as you say it is. If they'll ever want to reverse a transaction, the miners will know it. It's down to the miners' decision if their attack is going to succeed or not. The miners receive headers which include the height. Thus, a pool can't attack if the miners are unaware of it.

But, again, same thing happens with Cardano. As I said, less than 1% of the ADA users, hold the majority of the coins. What makes you think it's more resistant to a 51% attack?


The Leader of Bitcoin is the Bitcoin Dev Team : Blockstream, that has limited the onchain transaction capacity of btc and put out the most of the repeated nonsense.
And the majority of bitcoin cultist regurgitate every false hood they proclaim.
https://www.bitcoinminershashrate.com/cbdc-exploration-organized-by-a-group-of-central-banks/
Quote
Silvergate Bank made the first commitment from the crypto community to the digital assets department.
This is Benjamin Richman, former director of business development and partnerships at the Blockstream bitcoin technology start-up.

You should actually study Proof of Stake, you would learn alot.
(Go search Cardano or Algorand resources for information, it will enlighten you as to the truth.)
https://www.algorand.com/resources/blog/silvio-micali-lex-fridman-algorand-and-the-blockchain-trilemma

For one thing
Proof of Work miners have fixed % of domination equals to their hashrates.
Four PoW Pool operators have dominated over 51% for over 4 years now.

Proof of Stake domination fluctuates with every coin staked, meaning a pool that has 51% control until they stake,
dominance immediately drops after staking, no longer maintaining 51%. Some PoS coins even ban staking for a given time frame after a stake occurs.

No Proof of Stake pools can maintain 51% domination of a chain due to their staking % always in flux.

While a PoW network can be 51% attacked , basically forever,  that can never happen with PoS.
It also means the most deadly 51% freeze attack where all new blocks or transactions are blocked from the chain in PoW , that PoS is totally immune from. Wink



Cardano and other POS are premines and İCO,they are all centralized and Governments can crush them easily. Cardano rich list %1 owns %70 of all coins.
POW you trust decentralization, is secure with miners, in POS you trust to the wealthiest Validator.
POW is hard to ban,POS is easily censorable.
POW coins produced by hardware and electricity,POS is like FED,ecb printer machine brr...
POW is Satoshi Nakamoto choice ,POS is ico,premine and firm venture capitalists.

1. Satoshi is dead. Bitcoin mining has been centralized to just 4 mining pool operators for over 4 years.

2. All new coins are Proof of Stake, so PoW have already lost the war. Bitcoin users are just too stupid to know it yet.

3. China banned bitcoin mining easily, and so will the other countries in time. Miners can't draw more power than 20000 homes and expect to be able to hide.

4. Proof of Stake network nodes are impossible to stop and can easily move to another country within an hour.

* Have a Nice Day. *   Smiley
 
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November 30, 2021, 09:36:16 PM
 #74

Despite what anyone tries telling you, Proof of Work is the superior method at the time being.  The question I always ask myself when it comes to certain types of cryptography questions is.."do the cypherpunks support it".  When it comes to Proof of Stake, from what I have seen, the vast majority of Cypherpunks do NOT support it.  (of course you can find all sorts of other good info here about it).

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December 01, 2021, 08:14:55 AM
Merited by adaseb (1)
 #75

1. Satoshi is dead. Bitcoin mining has been centralized to just 4 mining pool operators for over 4 years.

2. All new coins are Proof of Stake, so PoW have already lost the war. Bitcoin users are just too stupid to know it yet.

3. China banned bitcoin mining easily, and so will the other countries in time. Miners can't draw more power than 20000 homes and expect to be able to hide.

4. Proof of Stake network nodes are impossible to stop and can easily move to another country within an hour.
1. You don't know who Satoshi is to know if they are alive or not. And there are a dozen mining pools but it doesn't matter because pools don't own hashrate the miners do and there are far more miners than pools and they are spread around the globe which makes it decentralized.

2. It is obvious that nobody including the owners of the shitcoin is going to spend money on mining shitcoins so new coins choose something that is weaker and can be sustained without spending money by the centralized authority.

3. They are free to try. For every country that has banned bitcoin mining there are 50 other countries that have accepted bitcoin mining.

4. Any government or law enforcement can easily kick down the door of the Proof of Shitcoin networks and seize all their funds and gain full control of that shitcoin network.

.
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TangentC
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December 01, 2021, 08:26:54 AM
Last edit: December 01, 2021, 08:45:25 AM by TangentC
 #76

1. Satoshi is dead. Bitcoin mining has been centralized to just 4 mining pool operators for over 4 years.

2. All new coins are Proof of Stake, so PoW have already lost the war. Bitcoin users are just too stupid to know it yet.

3. China banned bitcoin mining easily, and so will the other countries in time. Miners can't draw more power than 20000 homes and expect to be able to hide.

4. Proof of Stake network nodes are impossible to stop and can easily move to another country within an hour.
1. You don't know who Satoshi is to know if they are alive or not. And there are a dozen mining pools but it doesn't matter because pools don't own hashrate the miners do and there are far more miners than pools and they are spread around the globe which makes it decentralized.

2. It is obvious that nobody including the owners of the shitcoin is going to spend money on mining shitcoins so new coins choose something that is weaker and can be sustained without spending money by the centralized authority.

3. They are free to try. For every country that has banned bitcoin mining there are 50 other countries that have accepted bitcoin mining.

4. Any government or law enforcement can easily kick down the door of the Proof of Shitcoin networks and seize all their funds and gain full control of that shitcoin network.

1. You don't know what I know.  Smiley  
 He & She have been dead for over 3 years now.

2. LOL, When Ethereum & Cardano PoS networks Marketcap exceeds bitcoin proof of waste, the look on your face is going to be hilarious.  Cheesy

3. Not working as well as you think. At some point , No country will allow bitcoin mining, because their energy waste threatens the entire power grid.
https://decrypt.co/87293/bitcoin-mining-kazakhstan-power-china-hash-rate-price
Quote
Miners in the country were already starting to disconnect from the grid because of electricity shortages. (Caused by the Proof of waste miners)
So it wasn’t much of a surprise when, last week, Bekbau posted on Twitter a video of a shipping container being packed up with the last of the company’s south Kazakhstan mining rigs, saying Xive was shutting down its mining farm.


4. I can see you know nothing about PoS , if you think kicking down a door makes that big of a difference.
    Funny how you ignore that only 4 guys in bitcoin have doors that are worth kicking down.  Tongue

* PoS guys can hide their nodes , where you will never find their door, Proof of waste guys doors stick out like an energy wasting flare.*

If a PoS guy were so inclined , he could run his node on a laptop from a Van moving 24 hours a day, hiding his IP and using a cell network, and you never find him.
Your PoW losers asic miners can't do that.  Cool
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December 01, 2021, 02:32:31 PM
Merited by pooya87 (2)
 #77

Don't feed the trolls!

1. You don't know what I know.  Smiley  
 He & She have been dead for over 3 years now.
Proof, proof, proof, proof.

2. LOL, When Ethereum & Cardano PoS networks Marketcap exceeds bitcoin proof of waste, the look on your face is going to be hilarious.  Cheesy
This shows that you don't get it. And what will happen in a hypothetical scenario those two exceed the market cap of bitcoin? Does that mean they've succeeded? Was that it? Does it mean bitcoin has failed as a peer-to-peer currency?

However, I find it highly unlikely for both of them to ever exceed it.

3. Not working as well as you think. At some point , No country will allow bitcoin mining, because their energy waste threatens the entire power grid.
Speculation & FUD.

.
.HUGE.
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December 02, 2021, 03:48:35 AM
Last edit: December 02, 2021, 05:12:37 AM by TangentC
 #78

3. Not working as well as you think. At some point , No country will allow bitcoin mining, because their energy waste threatens the entire power grid.
Speculation & FUD.

Try News instead of fud.   Wink
https://www.bloomberg.com/news/articles/2021-10-13/bitcoin-miners-fleeing-china-could-overload-siberia-s-power-grid
Quote
Bitcoin Miners Fleeing China Could Overload Siberia’s Power Grid

https://protos.com/bitcoin-miners-overload-kazakhstans-electricity-grid-forcing-rations/
Quote
Kazakhstan will ration electricity and even cut off over-consuming customers after a wave of Chinese Bitcoin miners pushed the country’s unprepared power grid to breaking point.

  Cool

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December 02, 2021, 06:46:34 AM
 #79

Try News instead of fud.

But, that's FUD. News that contain fear, uncertainty and doubt.

.
.HUGE.
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Tash
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Pro financial, medical liberty


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December 02, 2021, 08:30:09 AM
 #80

Quote
PoW vs PoS
So 2014 ish. Forum was flooded with the junk.

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