The input costs to maintain a PoW network continue to grow at an exponential rate.
Bitcoin requires millions of dollars of electricity to feed it's wasteful energy appetite.
I have refuted this claim more than once. Bitcoin energy consumption is determined by both network hash rate and efficiency of the miners. The latter improves through time because of Moore's law and the first won't grow exponentially because of negative impacts of halving and price corrections that de-incentivize mining.
You argue that bitcoin energy waste enhances its security, which we disagree , but not the point I was making in this context.
The Actual Costs required to maintain a Proof of Stake is only the energy cost of its nodes.
Which is less than $1000 per month.
The Actual Costs required to maintain the Bitcoin PoW network , require warehouse rentals or purchase, costs of new asics every 1 - 2 years, and a monthly electricity bill that is in the millions of Dollars range every month.
Proof of Stake costs maintenance is fairly constant where as Proof of Work continues to cost more to maintain.
PoS alternatives are focused on transaction processing and remain silent about the issuance problem.
Inflation in PoS is morally unacceptable and economically void.
It resembles fiat money inflation. Even hybrid PoS coins are the same as long as they have issuance of new coins based on stakes.
Inflation in PoS is morally unacceptable and economically void.
It resembles fiat money inflation. Even hybrid PoS coins are the same as long as they have issuance of new coins based on stakes.
Actually in this , we have an agreement.
(I would include high inflation PoW coins in the morally unacceptable and economically void statement.)
High inflation or Interest in Proof of Stake coins is a problem, and printing of free money to the few is always a recipe for trouble.
Which is why ZEIT moved to an Ultra Low Inflation rate of only .0005% per year.
Bitcoin makes 1800 new coins per day
ZEIT makes less than 500 new coins per day after the ULI was activated.
And currently burns the transactions fees.
We made Proof of Stake what it should be, a consensus method only for securing the network, not a free money press like high inflation coins.
FYI:
Inflation rate is determined by design specs and not consensus method, as many PoW coins grow in the millions per day.
IE:
NewYorkCoin is one example of a PoW coin that inflation rate is destructive.
While PoS coins like Nxt, have zero inflation rates, relying on transaction fees only.