Post
Topic
Board Bitcoin Discussion
Merits 4 from 1 user
Re: Mining Bitcoin Doesn't Need To Worry About Spending Electricity
by
franky1
on 06/11/2018, 04:06:29 UTC
⭐ Merited by dbshck (4)
funny part is that the PoS lovers are not actually environmentalists. thy are infact people that dont want to pay for resources to get more coin, they just want free coin for no extra work.

it costs nothing extra/new for a PoS user to create blocks.
call it what it is...most yuppies understand. Proof of Lambo
if you have money/lambo you can create more money without having to spend more

just imagine if gold mining changed from a proof of work(diesel from excavators) costing the miner $1000 an ounce diesel burn. and turned it into PoS("i own a lambo gimme coin") costing nothing per coin but just waving THE SAME lambo's pinkslip/logbook every time.

yep those with a lambo get richer but the security level of the PoS chain does not toughen/get stronger. it just gives funds more often to those that just own more lambo's that they earned simply by owning lambo's

environmentally bitcoin is not doing any damage. as bitcoin miners are buying up EXCESS electric thats burned anyway, even if not used

here is few lessons to all the hobby miners trying to scream "eco friendly" as a ploy to try swaying others to consider PoS
1. the gap between electricity production vs demand.. and the actual math of PoW electric used shows that mining does not exceed the excess gap. so most farms are just paying for the gap that would have gone to waste. (its like buying out of date but still edible food to prevent it going to landfill)

2. PoS if enabled wont give local guy in his basement hobby miner a chance to earn coin mining a PoS. instead it will be the rich guys with lots of coin, gaining mor coin. and increasing their chances of getting more coin.. without increasing the chains security

3. if you think that anti-PoW = fair funds for small guys, you would be wrong. what will happen is people will syndicate(join stake) essentially pool funds together and one person then creates the blocks on the pools behalf. thus becoming the same 'pooled' scenario. but at zero actual cost and zero increase of difficulty