Post
Topic
Board Announcements (Altcoins)
Re: ★★ DigiByte ★★ [DGB] ✈ DigiShield ✔ v2.9.1 ✔ Mentioned live on CNBC!
by
Ryven Cedrylle
on 25/05/2014, 21:02:26 UTC
Since we're throwing around quotes, let me add one of my own: "A problem can not be solved on the level of thinking that created (identified) it." - supposedly Einstein but really, who knows.

I'm kinda surprised that anybody interested in cryptocurrency thinks that a technology can be stopped. It can't. You can make something ASIC-resistant, but you're really only delaying the inevitable. Eventually someone will make an ASIC for your algorithm (or 11 or whatever) and probably faster than you think it will. While I have previously been quite adamant about disliking PoS-only for DigiByte, I think what Fluttercoin is doing with its PoW/PoS/PoT hybrid is stepping in the right direction. PoW keeps a coin's hashrate good but leads to technology-centralizing. PoS counteracts tech advantages with its minting vs. mining alteration but leads to asset-based centralization and discourages transactions. PoT doesn't make any sense on its own, but as a counterweight to PoW and PoS, it has value. The coin that beats the problem of ASIC centralization is, in my estimation a basic Scrypt coin (so a large community can mine with small ASICs at no cost or slight profit) with PoW/PoS/PoT/Po?/Po?/Po?/Po? where the last four are Proofs not yet invented. Don't try to fight technology with technology. Fight it with economics.