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No serious digital asset still uses PoW or at least is on the way to ditch PoW. If you look at the most popular tokens/coins you'll see all the PoW coins are us
by noxer 7y ago
No serious digital asset still uses PoW or at least is on the way to ditch PoW. If you look at the most popular tokens/coins you'll see all the PoW coins are useless and no one is developing anything for them. They are just there to speculate and because people can't let go. TON uses PoS btw.
- spurdoman77 7y agoUsually when I visit web shops accepting cryptos as a payment all top coins accepted are pow coins.
- noxer 7y agoCrypto payment in a web shop isn't even a real use case. What they do is send crypto to a third party which sells it for fiat and then the good is paid with fiat. Does that need crypto? No that would work with anything else. The Code on a Paypal PSC for example isn't a crypto coin/token but it can do the exact same thing just better in most cases. The reason you can buy stuff with crypto in web shops is because people wanted to not because it makes sense to do that. It would kinda make sense if there would be a world current with rather stable value. But stable coins are IOUs aka debt so they are not really cryptos.
- 7786655 7y agoThe difference is that if a web store accepts crypo they don't need to worry about the payment processor oligopoly cancelling them.
- noxer 7y agoThey get fiat whenever someone makes crypto payments to them. The payment can be stooped by anyone in between like the exchange the bank of said exchange or the web shops bank who gets the payment form the exchanges bank. None of these web stores circumvent the payment processor oligopoly.
- Temasik 7y agowrong BitCoin is $bsv and the first client is windows satoshi has patented to replace central bank initially tiny country