Quote from: NeuroticFish on September 26, 2017, 06:00:36 AM

Quote from: adaptivedev on September 26, 2017, 04:32:20 AM

Guys, thoughts? We need to change Bitcoin to proof-of-work (PoW) to proof-of-stake (PoS), right?

From what I know, right now it costs over 1000$ to mine one BTC.
From what I remember - it may not be very accurate - the PoS coins value keeps degrading over time (whales just sell the coins they get for free).
All in all, while I agree that the global cost of energy for BTC is huge, if we change this we may end up with a very very cheap Bitcoin.

This is a huge common misconception. Ether for example now with PoW has 14% inflation, but when it moves to PoS with Casper it'll have just 1% inflation, lower than bitcoins 4% currently.

It all depends on the parameters set. PoS, if anything, is more deflationary than PoW if it wants to be, because in PoS you don't have to reward as much to miners for all that useless mining computation.

adaptivedev

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