Quote from: niothor on September 17, 2014, 02:13:56 PM

Quote from: kokojie on September 05, 2014, 04:33:56 PM

My reasoning:
* Each transaction in Bitcoin costs hundreds of time more than a credit card transaction to process. (currently this is subsidized by inflow of capital into the eco-system, so users haven't felt the full effect).

* Hundreds of millions of dollars are paid to mining hardware vendor and electricity company. This will continue year after year, and only will grow more and more as Bitcoin grows bigger. The Bitcoin community is being bled dry. The price action this year shows that even with massive amount of big name adoption and good news, the inflow of capital is having trouble to keep up with the insane surge of mining cost.

* There are better ways to secure the network, for example Bitshares's DPoS system. Money is re-invested into the eco-system and community, instead of paid to hardware vendor and electric company.

* If Bitcoin doesn't drop PoW and embrace the much more efficient DPoS system. I can see Bitshares eventually overtake Bitcoin. Simply because Bitcoin eco-system is bleeding hundreds of millions of dollars each year, and the DPoS re-invests the money and grows the eco-system/community each year.

Btw, you can hold BTC in Bitshares Grin

It's so sad to see a Legendary member with this kind of tactics to try and pump bitshares

If you want to criticize bitcoin , do it without praising a system that will turn to dust long before POW will show any weakness.

Not so much as to pump bitshares, but to create a sense of urgency for Bitcoin to fade out PoW. Because I legitimately think Bitshares will overtake Bitcoin in 3-4 years, if the status quo is maintained, due to the advantage of not having transfer hundreds of millions of dollars to hardware vendor/electric companies every year.

I hold much more Bitcoin than Bitshares.

How would I criticize Bitcoin PoW without showing a potentially superior alternative implementation?