Quote from: Peter R on April 24, 2014, 03:32:39 AM

Quote from: mgburks77 on April 24, 2014, 02:47:46 AM

The main difference is that PoS doesn't waste a bunch of electricity in doing so.

No, the main difference is that consensus is formed by those holding stake and not those willing to work. To me it is the difference between rent seekers (PoS) and innovators (PoW).

Yes, the main difference is that PoS doesn't waste a bunch of electricity in doing so. That is why government bureaucrats will force a change in a few years when more than $100 billion gets wasted.

(2018) You are a Chinese bureaucrat looking out your window at noon. On your desk is a staff regulation to prohibit SHA-256 and Scrypt ASIC manufacture, sale, installation and operation in China. The staff says that 5% of the coal-burning power plants under construction could be postponed if you sign the regulation . . .

credit: http://www.huffingtonpost.com/daniel-k-gardner/can-china-win-the-war-on-_b_5182132.html