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lol proof of stake, that's basically giving all the power to banks and governments to control the transactions which is exactly what we have now.
by vorotato 9y ago
lol proof of stake, that's basically giving all the power to banks and governments to control the transactions which is exactly what we have now.
- beager 9y agoIn a sense, if the growing power requirements for cryptocurrency mining box out players who can't afford the compute and the energy, wouldn't that give all the power to the monied players anyway?
- loceng 9y agoIndeed, anyone who can afford and dumps the most computational power and energy into the system. Imagine the waste of resources if there was a war/battle against bad actor(s) for control.
- option_greek 9y agoNot to mention that there is a central figure on ethereum to talk about (and hence to be controlled) which I think is a bigger threat in the longer term. I think Satoshi disappearing was what makes btc stronger.
- beefield 9y ago> that's basically giving all the power to banks and governments to control the transactions which is exactly what we have now. Sorry for a possibly stupid question, but... what, exactly, is wrong with the current control governments and banks have on your transactions?
- vorotato 9y agoIf you don't mind the power relationship between governments/banks and society there's a cheaper way than cryptocurrency called using banks. However many seeking cryptocurrencies are doing so to either escape regulation, or to escape capitalist centralized power structures.