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4531141 No.4531141 [Reply] [Original]

MFW i watch people buy bitcoin and bitcoin cash when NEITHER of these coins are gonna make it
- proof of stake > proof of work especially as we become more eco-tarded
- scarce/limited MONEY?? yeah fucking right. the world will not be paying with these.
- the actual tech innovation is in SMART CONTRACTS, not paying for your sandwich with .00001 bitcoins

>> No.4531223

dude XRP lmao

>> No.4531269
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4531269

Mind telling me why PoS is better than PoW? Thanks

>> No.4531300

>>4531269
Because PoW burns billions of dollars worth annually, while PoS burns close to zero.
These billions of dollars are obtained by miners by selling coins depressing prices.

Right now ethereum has higher % inflation than bitcoin, but it's going to end in 2018. Eth is going to explode when that happens.

>> No.4531379

>>4531141
Are you shilling Ethereum, Lisk or NEO or what

>> No.4531387

>>4531269
It isn't. It's a shell game of burning resources. People think that because pos does this indirectly instead of directly it saves energy. It doesn't. This is not a straight refutation of pos, but it isn't a direct drop in fix-all.

Lrn2econ

>> No.4531395

>>4531300
How does it "burn"? Sorry im actually retarded...

>> No.4531422

>>4531395
He means burn as in burning piles of money and energy. It's a metaphor for a waste of natural resources

>> No.4531453

POS only works with really low inflation.

>> No.4531550

>>4531387
PoS doesn't burn money 'indirectly'. Do you even know how it works?

>> No.4531652

>>4531550
I didn't know you could run this whole blockchain without storage or constantly connected computers. It just rewards users with a different incentive mechanic and has a SIGNIFICANTLY lowered bar for 51% attack.

Do YOU know how this works?

>> No.4531833

>>4531379

Yeah tell me what to buy 4chin

>> No.4532774

>>4531652
>I didn't know you could run this whole blockchain without storage or constantly connected computers.

Insignificant

>It just rewards users with a different incentive mechanic and has a SIGNIFICANTLY lowered bar for 51% attack.

The opposite, PoS is MUCH harder to attack because validators risk their whole stake.

>> No.4532836
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4532836

>>4531141
Proof of stake is not tamperproof. Sorry bud. No shortcuts

>> No.4532851
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4532851

>>4532836

https://m.soundcloud.com/thecryptocast/ep11 I

>> No.4532867
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4532867

>ETH as a day-to-day currency

Stop that. Also Proof of Time and Space seems promising too

>> No.4532895

>>4531652
Most of the energy used in mining bitcoins is doing sha256 hashing. (not even all of it)

>> No.4532973

>>4532867
What challenges does ETH have in becoming day to day currency?

>> No.4533127

You can’t generate multi billion dollar market caps out of thin air

Both bitcoin and BCH will crash extremely hard very soon

>> No.4533184

>>4533127
I am not sure what you're trying to say here, market cap is merely price*supply, it is thin air

>> No.4533213

>>4532973
Retarded code bugs causing lost coins.

Centralized control means code and policy can be subject to government influence and seizure of funds is possible through blacklisting.

Decent inflation.

>> No.4533361

>>4533213
>Retarded code bugs causing lost coins.
Good to see this being used where relevant, whether direct or indirect this will play a role in adoption especially in terms of a broadly used currency.

>Centralized control means code and policy can be subject to government influence and seizure of funds is possible through blacklisting.
There's two sides to this and any government approved shitcoin is going to fare better in terms of mainstream use in the foreseeable future. On the other hand there are coins that look much better in terms of being able to hold up a minimum value as currency were everything to be outlawed.

>Decent inflation.
Inflation encourages spending and investment in the ecosystem