Good point, I am also a Quark supporter and to me it´s refreshing to discuss issues rather than pretending that everything fine. It is neither with Quark nor with any other coin. This is still an evolving market and things are in experimental status. Having said this I personally believe that PoW will face some real issue as long as there are multipools. To make PoW work properly the coin needs to be valuable for the miners. But even if the value will rise which I expect to happen for many coins this won´t automatically lead to a stronger network as Multipools will constantly seek the strongest coins and dump them to pump another coin.
However, I don´t believe that multipools will eventually be the end of PoW, I rather believe that they exist at the current moment because there is a lot of competition about who will be number 2 in the crypto market. In my opinion it is very likely that the gap between frontrunners and copycoins will grow and with it the interest in multipools will be lower than now.
I think we should be open to discussions about how the Quark protocol can be changed to make it stronger and more efficient and we shouldn´t exclude major changes like switching over to PoS. However, if it is done it should be a decision of the community as a whole to make it transparent and fair for all stakeholders. This would be the demontration of a real community.
I agree with some of what is said - but of course not all -
When we step away from Problem reaction solution, what are we left with?
I'm happy to have the discussion, i welcome it, i started this whole topic to have a discussion.
PoW is a very ingenious design i've spoken about it many times, also another kind of veteran here "AnonyMint" extended a fairly exhaustive study into random way in which the PoW game is won.
I looked at that various study and info then looked at it from a sociological and economic point of view and well, guess what, he's right.
The PoW principal was more than likely the accumulation of many minds of the contributers of the NSA white paper (refer to the white paper) (or maybe just one of those light-bulb moments by a single person)
So we of course have to be careful when we look at different emission options , and i believe the evidence thus far does not even come close to supporting alternatives.
the Crypto market moves like any free market in little frequency cycles that shift, so Monopoly tends to stand out like a sore thumb to those that can see the frequencies and cycles.
Even though Bicoin has a full mining monopoly and is always destined to have a dropping supply at maturity, even with those flaws, its PoW shines though as the best system, that gives the best chance to distribute units in a random manner, and stay true to what some might call an "energy equilibrium."
Monopolists can not drive the direction of a currency that is not subject to the monopoly:lets explore that, they can design a "feature" that is touted as a "benefit" and then they can start that blockchain and have a total monopoly over the largest % of units being released .
of course in this way they can "bid up" the price without any risk of even their capital for two reasons:
1. they are controlling the emission, therefore they simply calculate what is outside their control % wise and if every single unit of that was sold that is their total risk.
2. By spamming or marketing the "feature" and the price rise by "bidding up" many of the followers, (the reason most good traders make money) will follow along and not sell.
however :
if a currency is already distributed the only possible way to "short" or Bid it down is to buy privately off an exchange and try to sell on a popular exchange, but that is a very flawed system because after a small time the sellers that are selling privately will start to buy back from the exchange and ask for a higher price privately.
you can't sell something you don't have.
the only reason Silver can be naked shorted is because most of the market do not take ownership of the physical asset - to take ownership of Quark it takes about 6 minutes from anywhere in the world. (probably 12 to account from off an exchange )
so you see Crypto will never have the naked short problem that Precious metals have - (all things being equal)
Crypto will move in natural cycles.
