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Ethereum is BTC with an even greater wealth transfer to early adopters built-in in the form of the switch from proof-of-work to proof-of-stake. What's the accep
by pja 9y ago
Ethereum is BTC with an even greater wealth transfer to early adopters built-in in the form of the switch from proof-of-work to proof-of-stake. What's the acceptable stake? Ether. How do you get Ether? You're going to have to buy it off the early adopters who mined it.
IOW, the Ether guys thought that Satoshi was a chump who left too much value on the table.
- deleted 9y ago[deleted]
- uncoder0 9y agoIn the bitcointalk forums they have a special name for these sort of coins... 'pre-mined shitcoins' The whole PoS swap makes that even more apparent in Ether's case. I mean hell they hardforked because some rich friends on the dev team got 'hacked' by a poorly written smart contract.
- mrfusion 9y agoExplain like I'm from 2010? ( and what/when is a proof of stake swap?)
- raisedbyninjas 9y agoProof of stake mints new coins based on who already has coins (they have a stake in the platform's success). This is opposed to solving arbitrary math problems to mint new coins, which is called "proof of work". At some point in the future the Ethereum client will have the proof of work algo swapped out with the proof of stake algo.
- rfugger 9y agoThe other side of the coin is that Ethereum has a well-funded foundation behind its software and business development, making it easier for established companies to interface with on various levels...