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2803693 No.2803693 [Reply] [Original]

Why is Proof of Stake better than Proof of Work?
Won't PoS just result in Chinese minefarms being given all the coins by default?

>> No.2803697

>>2803693
Do you like decentralization? Then don't come cry me a river when the Chinese beat you in miner count.

>> No.2803702

as if whales don't have enough influence already. proof of stake gives whales more money just for being whales.

>> No.2803754

pos is a neet's wetdream I could make a nice fat 2 grand a month passive income if it gets implemented

>> No.2803767

Neither of these solutions are any incentive for normal people to get into this which is why crypto will never make it to the levels that most fantasize about.

>> No.2803770

>>2803693
PoS removes a large amount of the electricity cost required to produce additional coins.
PoS also incentivizes holding copious amounts of coin, creating a scarcity and increasing demand

PoW= manufacturing/electrical powerhouses are in control
PoS= rich in control

>> No.2803778

>>2803770
PoW = Communism?
PoS = Capitalism?

>> No.2803781

>>2803693
PoS is easier for normies to understand. Lock up your coins and get dividends lmao.

>> No.2803797

>>2803770
You mean PoW & PoS = Rich in control

Why do wage cucks/poorfags think the libertarian capitalist dream is made for them and not the rich?

>> No.2803800
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2803800

>>2803778
PoW=capitalism
PoS=communism
PoS is kinda shitty because it heavily favors early investors. PoW requires constant input and thrives via competition and derives its security from the hardness of an equation which limits subsidy based on scarcity of computing power. PoS requires every small holder on the market to blindly trust a whale not to completely buttfuck them on his way out. it works only as long as those guys want it to work.

>> No.2803811

>>2803797
yeah in most cases the rich are able to be in control regardless because they can just buy what would make the competition in control.

in bitcoin while this is certainly possibly true, right now the chinks are the ones that have bitcoin by the balls. yes, they are wealthy clearly because they can afford the antminers and have been getting roi for awhile, but i wouldn't call jihans army the "rich" of bitcoin, however they are in control.

>> No.2803827

>>2803770
>PoW= manufacturing/electrical powerhouses are in control

So... rich in control?

>> No.2803851

>>2803827
not only 'rich' but actually people with utmost disregard for the most basic job safety and enviromental protection

>> No.2803877

>>2803800
How do you come to the conclusion that government subsidized power is "capitalism"? Because that's what proof of work is. The hash power slowly migrates to the miners with the less over-heads as mining because more difficult and less profitable. That's China, where the power is literally free and funded by the state.

>> No.2804778

>>2803693
PoS just fucks everyone that doesnt have a large amount of cash.
How anyone thinks this is better is beyond me, now not only are only miners going to be rich in crypto, now only early miners will be rich in crypto because no one else has a chance to mine enough currency to use PoS to combat the early miners who are just buying ridiculous amounts to earn through PoS with their early mining money.

>> No.2804889

>>2804778
everyone laugh at this faggot who is butthurt because he didn't get in early enough

>> No.2804965

>>2804778
>>2804889
How early are we talking? How many ETH to become a millionare later?