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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?
Well, you say now that to keep Mooncoin PoW is a 'whim' (is it okay btw to use words like that, again and again trying to say something to make other people look bad, is it normal discussing?)
Okay, let's check out what is a definition of 'whim',
Whim definition is -' a capricious or eccentric and often sudden idea or turn of the mind.'
But Mooncoin is PoW since its beginning, since 2013. Rather turning it to PoS is turn of the mind and a whim itself.
Next, why nothing is being said about what is necessary to transform PoW into PoS. Because, even if someone can support the idea itself, the price of this action can be hidden behind the scene. A simple question how one is going to make it even in the theory, to describe it step by step? Do you mean to start a new blockchain and swap, with which ratio, with which staking rewards? How exchanges would react? Could there be potential issues during the process?
Again, you say like you know the future that PoS will live and PoW willl die.
Time will tell. No one knows the future. Is it wise to make it look like someone knows the future? Maybe laws in the future will just consider staking as a financial pyramid unlike PoW and that can lead to sanctions against PoS coins. Yes, crypto is basically government-resistant, but would all this mess help the project grow?
Mooncoin is PoW. Let's say you came to it to help it. But many its native features you don't agree with. But why just not create your own coin or join and help any PoS coin which better fits your view? Why change everything, the algo, the nature of coin, attack people who don't agree with all that mess and say that they are dictators with whims, not mature etc.
What you write makes a lot of sense about the need to keep the PoW algorithm.
What - not me, but Michi - says worries me from an energy and sustainability point of view, but as - I - wrote below it is also true that the mining industry is moving towards more environmentally sustainable solutions and reinforces the idea of the PoW algorithm for Bitcoin and a few other coins.
Thanks for your point of view Abiki, this is all very important for me to understand.