Why don't they just change it to proof of stake?
Bitcoin
Noah Garcia
Parker Thomas
>proof of stake
>a system where early adopters and original centralized organization group continually receives a rent payment ongoing for doing no additional work
>what is federal reserve
>what is current system
hi rabbai
Angel Taylor
Because proof of stake doesn't work?
Robert Morgan
I invest in both proof of stake and proof of work coins. I do however still believe that proof of work is the more fair distribution method.
I have read some very interesting arguments for and against in the xmr community one that I rememeber and is significant is how that the proof of work assetchains are open systems. anyone can join if you can deliver the work. How you deliver the work is not important. A poor man that recycles computer parts in india can start a mining farm and join the network. if he wanted to join a proof of stake asset he would need to have dollars or euros or whatever currency the stake asset is being sold for.
Take for example a small green electrical producer. his windmil does not operate at night cause he can't compete with cheap nuclear at that time. he can then join the open proof of work system and mine cryptocurrencies. there are more examples obviously.
Proof of stake is basically banking 2.0 The rich get richer, if you have a lot of imaginary dollars/euros, you get richer. in proof of work this is different.
I hope I have brought some useful information to this thread.
I personally believe more in proof of work, because I think the xmr community is one of the most competeent and smart and their argements why PoW > PoS makes a lot of sense, more sense than the arguments that Proof of stakers have against proof of workers.
Grayson Wood
Based.
Asher Taylor
>why dont they make the only worthwhile crypto as shit as all the others
Aaron Walker
the most important reason is
the backing with CPU cycles
a crypto that cost nothing to produce is worth nothing
Tyler Murphy
This.
Daniel Miller
>why don’t they just print 1B tokens and keep 65% for themselves
Matthew Rodriguez
lmao yeah. didn't expect Zig Forums to be this redpilled on POS ( proof of shit ) lmao