Post
Topic
Board Bitcoin Discussion
Re: It's about time to turn off PoW mining
by
inBitweTrust
on 17/09/2014, 15:56:00 UTC
I don't think you understand. Why would I get out if I'm still confident that Bitcoin will rise up? but my point is, for example, this year Bitcoin could have had a 20% increase in value, but with the PoW cost dragging it down, you are looking at a much smaller increase in value. But my investment would still increase in value, why would I get out instead of attacking the problem that is dragging my investment returns down?

Bitshares still has a long way to go to overtake Bitcoin, 3-4 years minimum, there's no hurry to get into Bitshares, I'm already invested in Bitshares anyway.

Aha, so you are treating bitcoin as a short term investment platform before you jump off onto a Bitshares PoS/DPoS DAC. You believe the momentum of Bitcoin will propel it to gain much more than an alternative Bitshare DAC in the short term of 3-4 years. So what you are really suggesting users to do is not invest in a Bitshares DAC but stay with Bitcoin and slowly introduce PoS into the protocol?

This is yet another reason Bitcoin will remain superior as the network effect is already taken a hold where even those that claim it is innately and fundamentally flawed are still heavily invested in it. The fact that people still are resisting from heavily investing in their preferred crypto-currency will insure that those alts never grow up.

I predict PoS/DPoS/PoSV coins will fulfill nice roles in future Bitcoin treechains or sidechains.