Quote from: Abiky on October 16, 2021, 01:50:48 AM

Quote from: HeitorMessias on October 14, 2021, 05:32:42 AM

There are not too many classic Proof of Work coins in the crypto world.
Mooncoin is one of them.
99 percent of coins are tokens and pos.

You're right about that. Not many coins are PoW nowadays. The market is full of shitcoins and tokens based on PoS. If this keeps up, the industry might become heavily-centralized. It goes against the principles of crypto/Blockchain tech. Consider how Bitcoin hasn't switched to a new consensus algorithm, despite many people criticizing its "high-energy" consumption. The energy "wasted" is being put to good use as it makes the network much more decentralized and censorship-resistant. I'm glad Mooncoin is still a PoW coin, or it would've been a goner. Hopefully, a country like El Salvador would open up to Mooncoin as PoW-based cryptocurrencies become extremely rare in the future.

In the last poll proposed in one of Mooncoin Telegram channels (https://t.me/MoonCoinEco) about algo change preferences (PoW, PoS, Hybrid PoW/PoS) I voted for PoW.

While I generally agree with what Abiki and Heitor have written in this forum, I was puzzled by the direct response that Michi, the mooncoin lead dev and also a Doge core dev, gave to a Chinese investor who is insisting for Mooncoin to stay with PoW technology.

What Michi wrote:

Chinese mining powerhouses feel that mooncoin should reamin PoW... This isn't surprising at all. So what you're saying is since you and your friends have the advantage, it should remain biased to your advantage. Shocking. The purpose of Mooncoin is not to line the pockets of Chinese mining farms. Nor is Dogecoin. The world may change around you guys soon. I know you enjoy having crypto holders be dependent on your whims -- who in your position wouldn't? It won't last. PoW coins WILL become a pariah the world over. The future of currency is not giant Chinese warehouses filled with single purpose hardware doing useless calcs. And I'm not at all worried as to whether or not you agree on that. Time will take care of it.

This response really struck me because in some ways it is meant to shed light on the technology to come, with a number of implications that could profoundly change the entire crypto world. Which, in light of the energy and environmental implications as well, I can't help but agree with.

At the same time, the block of the mining farms in China and the almost total zeroing of the role of the Chinese in the hash power, the idea of the president of El Salvador to use the geothermal energy of a volcano, and last but not least Jack Dorsey that with Square intends to revolutionize the energy mining industry are equally valid visions in support of the PoW algorithm.

What do you think? Shall we open a debate here on this forum about the different algorithms and their implications?