Quote from: Herbert2020 on February 03, 2019, 05:51:05 AM

Quote from: deisik on February 02, 2019, 03:04:30 PM

PoW is not going to die soon

But if Bitcoin really aims to become a world money used as a universally accepted means of payment as well as a store of value, the PoW is simply inadequate for this purpose in mind. And it is not so much about waste of energy (though it is an important factor and concern on its own) as about too much power being concentrated in too few hands. I refer to miners here. Bitcoin is said to be about decentralization but Bitcoin mining as we know it today is anything but

you are wrong about mining being centralized because you are confusing mining pools being in a small number with actual miners with mining hardware which are in the thousands and are from all around the world so it is decentralized

You don't know that for certain

Well, we kinda know there are thousands of independent miners across the world but what is their hash rate? How do they stand in respect to mining capacities which belong to mining pools themselves? Strictly speaking, how do we ever know at all that there are these many thousands of miners in the first place? Besides, you can be damn sure that all Chinese mining pools are controlled by the same people. It is sort of a given

Quote from: Herbert2020 on February 03, 2019, 05:51:05 AM

as for PoW, i agree that it is not perfect but compared to all the algorithms it is the best thing that we can have. the flaws in others are more so the downside is worse. as a result unless someone comes up with a decent algorithm, PoW is not going anywhere and it has nothing to do with power consumption

It is not about other technologies being sub par, it is about PoW itself not being suitable for anything that could ever count as a remote resemblance to a world money