Proof of stake mining of bicoin

[Tobo]

Instead of

Code:

Dollars -> Mining rig -> Cryptocoins

PoS offers

Code:

Dollars -> Cryptocoins

Obviously this part is too technical to some people here though it tells a simple truth.

[cbeast]

Instead of

Code:

Dollars -> Mining rig -> Cryptocoins

PoS offers

Code:

Dollars -> Cryptocoins

Obviously this part is too technical to some people here though it tells a simple truth.

Logic flow:
Dollars -> aerospace engineering research -> intergalactic travel
therefor dollars -> intergalactic travel
who needs rocket scientists, right? 

[matt608]

Bitcoin is very hard to upgrade but you can hold bitcoin on a DPOS (delegated proof of stake) chain on BitShares as bitBTC and earn interest.  So individuals can choose to upgrade but the network itself can't.

[cbeast]

i was wandering in the future can bitcoin switch to proof of stake?

This is an obvious troll thread that belongs in alt coins. Bitcoin has never considered any other design. Please move this thread.

[inBitweTrust]

i was wandering in the future can bitcoin switch to proof of stake?

This is an obvious troll thread that belongs in alt coins. Bitcoin has never considered any other design. Please move this thread.

Who is this bitcoin you speak of and when can we get an official statement?

https://en.bitcoin.it/wiki/Prohibited_changes

[Come-from-Beyond]

Logic flow:
Dollars -> aerospace engineering research -> intergalactic travel
therefor dollars -> intergalactic travel
who needs rocket scientists, right?  

I like your sense of humor. Your claim about the logic flaw is logically flawed. But mistyping "o" instead of "a" you made it double-twisted.

[Come-from-Beyond]

Bitcoin has never considered any other design.

If this was true then it would mean that Bitcoin is centralized. Whom do you refer to by calling them "Bitcoin"?

[BitAddict]

i was wandering in the future can bitcoin switch to proof of stake?

This is an obvious troll thread that belongs in alt coins. Bitcoin has never considered any other design. Please move this thread.

This is like saying Kodak was never considered to move to digital cameras. If bitcoin don't evolve it will get outdated.

I can't believe how bitcoiners blame so hard people not willing to evolve and move to bitcoin, but at the same time they hate so much other innovations that could provide better service.

[jonald_fyookball]

i was wandering in the future can bitcoin switch to proof of stake?

This is an obvious troll thread that belongs in alt coins. Bitcoin has never considered any other design. Please move this thread.

This is like saying Kodak was never considered to move to digital cameras. If bitcoin don't evolve it will get outdated.

I can't believe how bitcoiners blame so hard people not willing to evolve and move to bitcoin, but at the same time they hate so much other innovations that could provide better service.

True.

From what I hear though, there has been quite a bit of discussion about
Proof of Stake among the core developers...its not like they are ignoring
the issue...Its just that so far, they don't see that it will make Bitcoin
more secure.

[Tobo]

Instead of

Code:

Dollars -> Mining rig -> Cryptocoins

PoS offers

Code:

Dollars -> Cryptocoins

Obviously this part is too technical to some people here though it tells a simple truth.

Logic flow:
Dollars -> aerospace engineering research Mining rig -> intergalactic travel
therefor dollars -> intergalactic travel
who needs rocket scientists Mining rig, right? 

fify.

[cbeast]

i was wandering in the future can bitcoin switch to proof of stake?

This is an obvious troll thread that belongs in alt coins. Bitcoin has never considered any other design. Please move this thread.

Who is this bitcoin you speak of and when can we get an official statement?

https://en.bitcoin.it/wiki/Prohibited_changes

There is nothing stopping you from making a hard fork. This isn't even a dispute. I don't know why the wiki says such nonsense. Good luck getting miners to switch to your fork.

[inBitweTrust]

There is nothing stopping you from making a hard fork. This isn't even a dispute. I don't know why the wiki says such nonsense. Good luck getting miners to switch to your fork.

Non Sequitur. Pointing out that your statement is delusional and a defensive act of Repression has nothing to do with how I feel about PoS or if it is likely Bitcoin will switch consensus mechanisms.

There are plenty of developers who have considered other designs and are still considering other designs for bitcoin. This is a simple fact. I understand you will not call such a hardfork bitcoin, but you must acknowledge you are not bitcoin.

i was wandering in the future can bitcoin switch to proof of stake?

This is an obvious troll thread that belongs in alt coins. Bitcoin has never considered any other design. Please move this thread.

Who is this bitcoin you speak of and when can we get an official statement?

p.s..... Don't read into my statements either as I am not advocating for such a fork.

[cbeast]

There is nothing stopping you from making a hard fork. This isn't even a dispute. I don't know why the wiki says such nonsense. Good luck getting miners to switch to your fork.

Non Sequitur. Pointing out that your statement is delusional and a defensive act of Repression has nothing to do with how I feel about PoS or if it is likely Bitcoin will switch consensus mechanisms.

There are plenty of developers who have considered other designs and are still considering other designs for bitcoin. This is a simple fact. I understand you will not call such a hardfork bitcoin, but you must acknowledge you are not bitcoin.

i was wandering in the future can bitcoin switch to proof of stake?

This is an obvious troll thread that belongs in alt coins. Bitcoin has never considered any other design. Please move this thread.

Who is this bitcoin you speak of and when can we get an official statement?

p.s..... Don't read into my statements either as I am not advocating for such a fork.

Bitcoin cannot change to PoS. It is impossible. Why don't you understand? Bitcoin is the collective of users. Is that concept too difficult for you? Your "official statement" is a strawman.

[inBitweTrust]

Bitcoin cannot change to PoS. It is impossible. Why don't you understand? Bitcoin is the collective of users. Is that concept too difficult for you? Your "official statement" is a strawman.

I do not represent bitcoin but am just one user of the protocol so cannot give an "official statement" and never suggested as much.

So you are suggesting that if a majority of the developers and community decides to do a hardfork from PoW to PoS this wouldn't be called "bitcoin" because you don't agree?

[jonald_fyookball]

i was wandering in the future can bitcoin switch to proof of stake?

This is an obvious troll thread that belongs in alt coins. Bitcoin has never considered any other design. Please move this thread.

Who is this bitcoin you speak of and when can we get an official statement?

https://en.bitcoin.it/wiki/Prohibited_changes

There is nothing stopping you from making a hard fork. This isn't even a dispute. I don't know why the wiki says such nonsense. Good luck getting miners to switch to your fork.

The wiki says adding Proof of Stake elements to the Proof of Work would be a disputed change...because it is.  Why is that nonsense?

[inBitweTrust]

The wiki says adding Proof of Stake elements to the Proof of Work would be a disputed change...because it is.  Why is that nonsense?

Exactly. The fact that we are discussing the possibility of it here is proof that it is disputed possibility. Bitcoin is an open source protocol and will be changed to whatever the users want it to be changed.

I suppose it is more of an inherent question of what defines "bitcoin" and some purists believe that we can never stray from Satoshi's original consensus mechanism, while other purists say we must see the forest for the trees and define bitcoin as the currency which follows Satoshi's original philosophy and if another algo accomplishes that than this is also acceptable.

[cbeast]

i was wandering in the future can bitcoin switch to proof of stake?

This is an obvious troll thread that belongs in alt coins. Bitcoin has never considered any other design. Please move this thread.

Who is this bitcoin you speak of and when can we get an official statement?

https://en.bitcoin.it/wiki/Prohibited_changes

There is nothing stopping you from making a hard fork. This isn't even a dispute. I don't know why the wiki says such nonsense. Good luck getting miners to switch to your fork.

The wiki says adding Proof of Stake elements to the Proof of Work would be a disputed change...because it is.  Why is that nonsense?

Claiming something and doing something are two different things. Apparently this is the wiki author's opinion. That doesn't make it so. If someone wants to do it then they should go ahead and do it. Unless what you mean is that begging everyone to follow you is a bad idea. The begging part is in dispute.

[jonald_fyookball]

i was wandering in the future can bitcoin switch to proof of stake?

This is an obvious troll thread that belongs in alt coins. Bitcoin has never considered any other design. Please move this thread.

Who is this bitcoin you speak of and when can we get an official statement?

https://en.bitcoin.it/wiki/Prohibited_changes

There is nothing stopping you from making a hard fork. This isn't even a dispute. I don't know why the wiki says such nonsense. Good luck getting miners to switch to your fork.

The wiki says adding Proof of Stake elements to the Proof of Work would be a disputed change...because it is.  Why is that nonsense?

Claiming something and doing something are two different things. Apparently this is the wiki author's opinion. That doesn't make it so. If someone wants to do it then they should go ahead and do it. Unless what you mean is that begging everyone to follow you is a bad idea. The begging part is in dispute.

Ok fair enough, but then by the same token, we can also say that the assertion "it is nonsense" is simply your opinion too.  Agree?

[cbeast]

i was wandering in the future can bitcoin switch to proof of stake?

This is an obvious troll thread that belongs in alt coins. Bitcoin has never considered any other design. Please move this thread.

Who is this bitcoin you speak of and when can we get an official statement?

https://en.bitcoin.it/wiki/Prohibited_changes

There is nothing stopping you from making a hard fork. This isn't even a dispute. I don't know why the wiki says such nonsense. Good luck getting miners to switch to your fork.

The wiki says adding Proof of Stake elements to the Proof of Work would be a disputed change...because it is.  Why is that nonsense?

Claiming something and doing something are two different things. Apparently this is the wiki author's opinion. That doesn't make it so. If someone wants to do it then they should go ahead and do it. Unless what you mean is that begging everyone to follow you is a bad idea. The begging part is in dispute.

Ok fair enough, but then by the same token, we can also say that the assertion "it is nonsense" is simply your opinion too.  Agree?

Technically rejecting an unsubstantiated argument doesn't require evidence.

[BTCXE]

sorry if this has been mentioned in this thread in the past, but how would PoS actually work ? Wouldnt that benefit existing holders of bitcoin ?