Post
Topic
Board Bitcoin Discussion
Re: Annual 10% bitcoin dividends if mining were Proof-of-Stake
by
mxn
on 29/04/2014, 10:52:33 UTC
I have no clue of technical implementation, as a user i do not accept the costs for mining, i switched from BTC/LTC/FRC to BC/MINT/PHS.

Selling coins to pay for electricity and hardware is not very supportive for a price, nothing else is happening at PoW,  only sometimes hype has overdubbed this tendency.

I say there is no choice, PoW eats itself already via multipools of PoS-coins, maybe it is fun to mine, but every innovation needs high efficiency to scale.

And miners did not tell the truth of what they are doing, "securing the network" sounds like a real need for energy, but to generate an incentive for keeping the nodes online does not need hashing power.

This can be a bad year for PoW, since i only noticed a few critical voices on energy usage, all is well deserved, we have only one world and we need our energy for more important stuff, sorry.

PoS-only coins are for a good reason, it still take some time until they have reached the same age and secure status as Bitcoin - this is exactly the timeframe you have to find a solution.