Post
Topic
Board Bitcoin Discussion
Re: I've come full circle, BTC is the only worthwhile cryptocurrency
by
Khaos77
on 18/11/2019, 23:53:09 UTC
After 4+ years in the space and countless hours of research, it is becoming increasingly apparent that BTC is the only worthwhile project.  Also by the thread title, you can probably tell its not my first rodeo.

Some of my strongest reasoning is specified below, it is by no means comprehensive.  While I may have typed the below with conviction, I am openminded to other views (my wallet compels me so) - please put forth your opposing views.

  • PoW is the only true Byzantine Fault Tolerant consensus mechanism.  PoS is not BFT at this point in time and I do not see how it gets there.  At the end of the day, under PoS and the many other consensus mechanisms, one needs to trust a third party to relay them the correct data and that is assuming that one can be certain that the delegated node holds the majority of the voting power – this is not trustless and re-introduces third parties.
    With PoW, I can verify the hashes and the longest chain is the correct one.


Correct is a subjective term,
what you can verify with PoW is which Chain is the longest chain with the highest hashrate.

Now prepared to be shocked,

With PoS, you can verify the longest chain with the most coins and highest difficulty.  Shocked

Because all you are doing is comparing chains.