Quote from: Lloydie on January 22, 2014, 10:45:04 PM

Quote from: msin on January 22, 2014, 10:07:04 PM

To me, POW is such a waste of resources, we are spending millions on resources to mine BTC, it doesn't seem like the direction we should continue heading as the world struggles with limited resources. The amount of power wasted mining BTC is absolutely atrocious. Regarding your concerns with POS, read up on Transparent Forging. POW is completely susceptible to corporate control, look at the mining pools, you are close to 51% with Ghash.io alone. Meanwhile I'm forging Nxt right now on my RasPi.

Power line wastage is even more atrocious. Payment servers of credit card companies also use atrocious amounts of energy. Any reliable decentralised payments system will need power to function. POS seems like a step backwards in terms of centralisation.

Yes, that is the point, we don't like centralization at Nxt.