Post
Topic
Board Bitcoin Discussion
Re: Proof of stake mining of bicoin
by
sumantso
on 29/12/2014, 15:47:52 UTC
Like it or not, some variation of PoS is going to dominate. The general opinion is slowly being aware that the money given over to the electricity and the hardware companies is better off being utilized to develop the coin itself.

No one is forced to give any money to anyone, people exercise their own choices.
Competition requires energy, no-competition doesn't.

So which of the competition is better suited - the one which is spending resources to keep the network running, or the other which is using the same resources in improving itself?

Again, confusing security model with distribution model.

Security costs depend on distribution rewards (issuance of new coins),
not whether the coin uses PoS or PoW.



You can buy miners and spend electricity and earn coins.
You can go to an exchange, spend money and buy coins.