i think i get it
tangentc is just jealous that some people work and put effort in and get rewarded for those efforts, and he just cant cope with not getting paid for doing nothing, so wants to fight and argue that bitcoin should change and reward leachers that dont offer anything to bitcoins security.
what he does not realise is in proof of stake, there is still only a set number of blocks made a day and only a set amount of reward per block. if a PoS coin actually became useful to a wide userbase, where the coin attained value. those 'stakes' no longer allow everyone to get paid.
(too many people fighting over limited slices of pie)
instead only a few hundred 'stakes' out of millions would get paid a day.
where those few hundred 'stakes' would be the ones with the highest value(rich/elite) stake in play.
but hey, tangentc does not care about value. nor security which would cost an attacker billions to fight to break the security. all he cares about is trying to get his hands on some free pie, no matter the consequence
No Franky, you don't get it at all.
Your lack of research on the capabilities of Proof of Stake is showing.
1. Proof of Stake coins transaction fees can be burned, thus as coin transactions increase, this will act as a way to lower the total # of coins.
* Note another one of PoW failings, is the day when no new PoW coins are created , transaction fees of PoW coins have to skyrocket to offset the lost rewards*
Just another reason why PoS is superior to PoW in the long run.
If you have not been an early adopter of Proof of Waste bitcoin, do you really think, you be pushing a product that wastes more energy than a country with no increase in performance or security. I include security, because the same 4 mining pool operators (Bitcoin weakest link) are all that is stopping a 51% attack no matter what bitcoin energy waste.
I think you be more honest that that, if you did not personally have a large financial skin in the game on the PoW bitcoin side.
I know people, more or less rich than I am who don't have money to stake the required amount and the yield return isn't that profitable at all.
They mine bitcoin.
By the same reasoning, everyone can participate in mining too.
if you prefer that , go ahead and slap a slave sticker on your back and wander the streets begging a rich person to be your master.
That's complex.
Tell all of the people too poor to own an ASIC warehouse, how they can make a profit mining bitcoin, and go into compete details so they can get as rich as Franky1.
Go ahead show them how many coins they can mine, but you might want to mention that the odds are they will lose money mining instead of earn, but dazzle away and create a new upper class elite, with the supposed mining btc and get rich shenanigans.
* Not holding my breath. *Not complex , accurate , you want rich elites to earn the rewards and the transaction fees and determine what transactions are included in the blockchain with no input from you whatsoever, sounds like a slave to me.
The current Proof of Waste system is doomed to failure, as no country can handle a continued geometric increase in energy waste on a biyearly basis.
So all countries will eventually ban bitcoin PoW mining,
and what happens next.....
Then finally BTC lack of development team, claims to have found a solution to the Proof of Waste Dilemma.
https://www.tomshardware.com/news/microsoft-patent-application-crypto-mining-brain-waves"Instead of massive computation work required by some conventional cryptocurrency systems, data generated based on the body activity of the user can be a proof-of-work, and therefore, a user can solve the computationally difficult problem unconsciously."
And that boys and girls is their plan to enslave your children's children for the next 10000 years.
Proof of Stake is the only shield against it.
Make your Choice , Freedom or Slavery, because the time of choice is almost here.
Updated Future Defs:
PoW = Prisoners of Work
PoS = People of Sovereignty
