6 ms·
Move from proof-of-work to proof-of-stake?
by troycarlson 6y ago
Move from proof-of-work to proof-of-stake?
- arcticbull 6y ago*proof of waste.
- fredfoobar 6y agoThis comment is a proof of waste of my time reading your replies. Also, hey! we meet again!
- arcticbull 6y agoIs proof of waste not a suitable name? It's proof a huge quantity of resources were wasted on deriving some random garbage you can append to a piece of data to obtain a certain number of leading zeroes on a SHA lol. 600kWh per transaction. Horrifying. And of course, always a pleasure haha.
- fredfoobar 6y agoI'm sorry you are horrified
- arcticbull 6y agoI'm sorry you're not :) you have however failed to address to substance of the comment in a meaningful way.
- fredfoobar 6y agoI'm sorry, but how is you being "horrified" an objective measure of goodness? You described the process and just said it's horrifying, what do you expect me to respond with?
- deleted 6y ago[deleted]
- fredfoobar 6y agoProof of stake will give pervert the incentives of the network. It'll allow large stake holders to control the network, we don't want that. Proof of Work will ensure that nobody has control over the network and everyone is incentivized to participate honestly.
- arcticbull 6y agoUnfortunately it requires one Argentina of power to do the work of a single raspberry pi, and I suggest environmentalists and the government won't look the other way indefinitely. Carbon pricing for instance makes the whole thing topple over.
- berenza 6y agobitcoin works just fine with any power source, not just conveniently located grid energy. you can mine bitcoin in a remote place and transmit the network data much more easily than you can transport/transmit energy. you could raise the price of fossil fuels by a factor of 1 million and crypto mining would be the least affected of any industry. so go right ahead and try it.