Quote from: inBitweTrust on October 02, 2014, 02:10:06 PM

Quote from: kokojie on October 02, 2014, 02:05:05 PM

I know You love to make up scenarios that simply doesn't exist in reality. You imagined "security holes" with PoS that doesn't exist in reality. You imagined "election costs" with DPoS that doesn't exist in reality. Now you are imagining "space heater", "water heater" that are PoW ASIC machines, that doesn't exist in reality. You know why? because they are horribly expensive, and inefficient to compete with mega mining farms, because as heaters, they can not be turned on all the time, therefore there's no way for them to ever compete with real mining farms in terms of efficiency.

Let's just keep the topic on something that does exist in reality, that is the $500 million PoW expense that is staring Bitcoin holders in the face!

Election costs are well known and studied. Are you assuming that interests won't compete for delegate seats like they do for normal politics?

ASIC costs and production isn't unique to Bitcoin. You realize that these are well known and documented and costs will naturally shrink with competition and scale. Why do you think you can buy a 20 dollar burner cell phone now?

How much is the campaign cost to be elected as the Secretary-general of United Nations? show me your "well known study".

per unit cost will shrink in ASIC, the total cost of PoW CAN NOT shrink, otherwise how do you secure the network against 51% attack? PoW expense will have to be more and more expensive as Bitcoin grows in scale.