Quote from: leopard2 on August 15, 2014, 10:52:31 PM

Quote from: CoinHoarder on August 15, 2014, 09:00:45 PM

Firstly, this points out two of the biggest negatives of PoW.

#1 - The centralization of PoW mining will become more and more centralized over time, because big operations such as this will make the little guys unprofitable and therefore push them out of the market.
#2 - The huge amount of electricity that is wasted needlessly with PoW.

Exactly. This type of thing is the major threat to Bitcoin and I would not be surprised if long term, another coin takes over (NXT; ETH?). Centralization is dangerous and the waste of energy makes BTC vulnerable because it can be used to attack BTC ("too much CO2")

I am surprised that people think that any coin can overtake Bitcoin. Everyone should be aware that it is practicaly impossible. Most of those altcoins are just pump and dump thing an if Bitcoin ever fails only coin that could take its place is Litecoin. But that is just not gonna happen!