Post
Topic
Board Development & Technical Discussion
Re: Why exactly is Bitcoin clinging to PoW?
by
Wind_FURY
on 19/05/2021, 08:42:21 UTC
Ethereum and Cardano , the #2 and #4 coins on CMK would disagree with you.
You clearly don't understand anything and farting about centralized altcoins that mostly run on vps servers and have blockchain size that can't fit on normal hard drives is not decentralization or security.
Anyone can run Bitcoin node even on Pi devices, that is impossible on mentioned coins, and they don't spend any energy because they run on centralized VPS almost as database files.
Not to mention you would need to have huge amount of coins to buy and stake, or issues with premine...

OP, plus Bitcoin mining is also a Sybil Attack prevention mechanism, and the incentive-structure works, the Game Theory works, and the network will chug along for many many years. Why change something that already works?

Change is needed sometimes and anything that is stagnant and not improving can be overtaken, so I would not be surprised if we see some future change in Bitcoin PoW or some better model, but it is certainly not going to be some shitty Proof-of-Stake.


Stagnant? Bitcoin doesn’t need to change. Bitcoin actually has the fastest SETTLEMENT times compared to ALL coins. Bitcoin Cash and Litecoin settle more than 10 times slower than Bitcoin. Compare how much confirmations is worth in just one Bitcoin confirmation.