Quote from: JayJuanGee on Today at 09:22:24 PM

Quote from: OutOfMemory on Today at 08:45:48 PM

Quote from: WatChe on Today at 06:26:56 PM

Quote from: OutOfMemory on Today at 08:09:04 AM

Oh yeah, it is that part of the cycle again Cool

Yesterday, i have read the first FUD article in a long time about Bitcoin, the energy and resource eating monster Roll Eyes

This time, the framing was "one transaction is wasting a swimming pool full of water" for cooling the nodes Huh

Again, the Vitalik coin was mentioned as demonstrating an alternative, because "changing the algorithm" (POS, for newbs) saved 99% of energy in the network.
The one argument i couldn't really follow was "the more expensive Bitcoin gets, the more energy intensive the network becomes" Huh

my rating: bullish, though Grin

the more articles
the more FOMO will kick in
A mainstream news law?

Shifting of ethereum from PoW to PoS just tells the story that how centralized this coin is with unlimited supply of coins. The decentralized concept originally proposed by Satoshi is only limited to bitcoin.

People do have nature of criticising new products. That's how this world is moving. In initial days people made fun of Wright brothers who proposed idea that human can fly. There are less number of haters for bitcoin with every passing year as more are embracing it.

It will be nice start of week if I see 40k after I wake up on Monday morning!!!

Have a nice weekend everyone.

Yeah, true that.

BUT...

what do you consider to happen if bitcoin would switch to PoS one day?
It's not impossible, there's that. Even if would become relevant through future BIPs, what would you think would change implicitly?
OG's leaving? Institutions going all-in? Big miners wrecking it all for the profits? Satoshi coming out like Superman?
This is not a rethoric question (my example answers are rethoric, though). I really asked for your opinion.

Don't get me wrong, i'm not in favor of PoS, this model is just a No-Go for the sake of Bitcoin's "soul" (an analogy), but i can see the point(s) of such a change, which are on top of "good willing" people, but the downsides have to be considered, too, which is most likely not the case with everybody who likes the PoW ideas, they just see their manifests, not much caring about the other possible effects on the system, which are by no means always positive, imho.
But there's always a bad aftertaste with "good will", inherently, i think most of us here know that "good will" (aka. "wanting only the best for something/somebody) is most always not really the best, especially in hindsight.

That is kind of a dumb example OOM.

Do you happen to know what bitcoin is?

The whole invention of bitcoin is about proof of work, and so there would be no bitcoin without proof of work.

Proof of work was the invention that makes bitcoin, so if anyone says, let's undo the invention, then bitcoin becomes a BIG SO FUCKING WHAT. It is nothing without proof of work... that is be how bitcoin works.. proof of work... there is no changing that part of bitcoin - so it is not going to happen.

Maybe you have been reading too many ethereum threads to even believe that it is possible to take away bitcoin's proof of work and to act as if there were still such a thing to be called bitcoin? Bring out the batman gloves and prepare your mug for a slappening.

Cheesy

Just read your reply on the phone and went online on the PC for a minute to answer that before drifting off to dreamland...

No, it's not dumb in a way that it is technically possible.
I know that Bitcoin is not Bitcoin without PoW, even if i didn't explicitly point that out. And that was the expected answer, but i did want to read WatChe's opinion.
Don't get me wrong Kiss

#GN