Re: ๑۩۞[ANN][ ₭ARM] Karma & Karmashares // KarmaWorldCup for charity (page 47)
Ok, let us defend PoS for a change 
:
PoW: I have to buy mining equipment to mine a coin, thereby securing the network
PoS: I can just buy the coins directly and secure the network by keeping my wallet open (note that a short minting time will be needed to make people keep their wallets open)
Buying mining equipment is definitely more diverse, you can mine different coins as you please. PoS has the advantage of being energy efficient, safer (no need to pool for instance) and cheaper. Both of them give a reward for securing the network, with PoS being a clear winner in this department in terms of network security. PoW being more fair or giving a better distribution is nonsense in our case when the PoW has been going on for 5 months, in the case of a shift to PoS in July.
Why do people keep burying their head in the sand when our network security is at stake? Are you guys really so naïve to think attacks and blackmailing wont happen? By the end of June asics will be here and our block reward will be down to 35k. Our network hashrate will drop to 100-150 and anyone with for example a knc titan will act like a sword of Damocles dangling over our Karma network.
A shift to a different algorithm would just postpone a decision. Merged mining could be a long-term solution and so can PoS. I personally would go for a shift to PoS, but I would applaud a merged mining solution as well. I dont give a ^%$$ about a higher price right now, our network and all the great projects are depending on decisive action. People are worried and careful when discussing a change, and rightfully so. Im much more worried about not changing. Our price could soar and asics could be a blessing for our network but Im hoping we will not take that chance.
:PoW: I have to buy mining equipment to mine a coin, thereby securing the network
PoS: I can just buy the coins directly and secure the network by keeping my wallet open (note that a short minting time will be needed to make people keep their wallets open)
Buying mining equipment is definitely more diverse, you can mine different coins as you please. PoS has the advantage of being energy efficient, safer (no need to pool for instance) and cheaper. Both of them give a reward for securing the network, with PoS being a clear winner in this department in terms of network security. PoW being more fair or giving a better distribution is nonsense in our case when the PoW has been going on for 5 months, in the case of a shift to PoS in July.
Why do people keep burying their head in the sand when our network security is at stake? Are you guys really so naïve to think attacks and blackmailing wont happen? By the end of June asics will be here and our block reward will be down to 35k. Our network hashrate will drop to 100-150 and anyone with for example a knc titan will act like a sword of Damocles dangling over our Karma network.
A shift to a different algorithm would just postpone a decision. Merged mining could be a long-term solution and so can PoS. I personally would go for a shift to PoS, but I would applaud a merged mining solution as well. I dont give a ^%$$ about a higher price right now, our network and all the great projects are depending on decisive action. People are worried and careful when discussing a change, and rightfully so. Im much more worried about not changing. Our price could soar and asics could be a blessing for our network but Im hoping we will not take that chance.