Here is why PoW is Permissioned, ( mined on a CPU or ASIC)
Facts
Permissions Required to generate a PoW Block if you Mine it
1. Permission from the ASICS seller , to buy their ASIC.
2. Permission from your local Govenment to allow the ASIC to bnde shipped to you.
3 Permission from the Electric Company to power your ASIC.
4. Permission from the Mining pool you have to join because group mining is your only shot
5. Permission from your ISP , so you have internet access to attempt to mine it.
6. Permission from the original programmer thru the Open Source License granted so you can run the software.
If you pay someone else to mine it , You need their permission and acceptance of your currency.
Permissions Required if you just buy it. (Same for PoW & PoS)
1. Permission from the Exchange
2. Permission from the Seller
Free Faucet (Same for PoW & PoS)
1. Permission from the one running the faucet
Hopefully we can put that falsehood permissioned verses permissionless to rest , because nothing peeves me more that hearing the same lie more than once.
There are No Permissionless systems in crypto.
Facts
Permissions Required to generate a PoW Block if you Mine it
1. Permission from the ASICS seller , to buy their ASIC.
2. Permission from your local Govenment to allow the ASIC to bnde shipped to you.
3 Permission from the Electric Company to power your ASIC.
4. Permission from the Mining pool you have to join because group mining is your only shot
5. Permission from your ISP , so you have internet access to attempt to mine it.
6. Permission from the original programmer thru the Open Source License granted so you can run the software.
If you pay someone else to mine it , You need their permission and acceptance of your currency.
Permissions Required if you just buy it. (Same for PoW & PoS)
1. Permission from the Exchange
2. Permission from the Seller
Free Faucet (Same for PoW & PoS)
1. Permission from the one running the faucet
Hopefully we can put that falsehood permissioned verses permissionless to rest , because nothing peeves me more that hearing the same lie more than once.
There are No Permissionless systems in crypto.
I will give a last shot in this thread, I should probably not even bother as the dishonesty and way to construct my point as a pos argument make it hard to have a discussion, but ..
I need a remote control to access my tv , does it mean my tv had permission ? Nope. Anyone can grab the remote and charge channel.
I need a transistor to listen the radio , does this mean the radio has permission ? Nope, anyone can grab the transistor and listen the radio.
There is investment cost to make profits out of it. Doesnt mean it's permission based.
But my point is not even this.
The main point is the OP seem to have the same thinking bias of people who only see coins as way to make profits.
And they think along the line of "I do something that help the network or is good for the coin and i deserve a reward"
Which is incorrect thinking.
What matter is that the procuded proof included in the block is sufficient to make sure it will be accepted as the next block by all nodes .
The only need for a reward is this.
Because the way pow work, there is cost and risk involved to produce this proof, so to make the game interesting and it can get enough security with high market cap, it need a reward.
The amount of work and cost to produce valid block with valid tx is marginal.
The amount of work needed to produce the proof that this block is the next block is huge.
With pos, the amount of work and risk involved with producing this proof is minimal. So it's much less based on reward / risk economic model of pow.
And if the amount of work and risk to produce the proof is low, then it become more like private network, or permission based system, where its a state associated with the user in system that determine his authority. This is the case for POS.
But again I dont have any coin, im not here to speak fud or argument pro or against any coin in particular.
I personally think even is most case having trusted nodes and private network is much better than global pow consencus. For many raesons.
So again it's weird how my point get constructed as an argument against trusted node or private networks. Because it's not my point at all.
Anyway have a great day
