Post
Topic
Board Bitcoin Discussion
Re: $5000 per coin will never happen if PoW mining is allowed to continue
by
kokojie
on 23/10/2014, 16:36:09 UTC
#kokojie
So did you think the PoW system ( at the moment) is an error ? Which is the better algorithm for you ?

It is not an error, but just a system that is behind the times. Would you be still using VHS tapes, when netflix streaming is available?

If Bitcoin switch to PoS system, all its rules and function will still be the same, just that it will no longer expend $500 million USD in value every year, to pay miners/pools/hardware vendors/electricity companies. All that money will stay in the Bitcoin eco-system, for the benefit of the eco-system.