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Despite acknowledging PoS, the author keeps hammering on PoW. Their actual problem is with PoW and has little to do with NFTs. If you are worried about the env

by Tenoke 6y ago

Despite acknowledging PoS, the author keeps hammering on PoW. Their actual problem is with PoW and has little to do with NFTs. If you are worried about the environmental impact (which for 1 minting is fairly small) just use the PoS options available today and rant about ETH generally using PoW instead.

lmm 6y ago
> which for 1 minting is fairly small The article makes specific claims to the contrary > just use the PoS options available today Does PoS actually work today? AFAICS it's vaporware.
- lima 6y ago
  > Does PoS actually work today? AFAICS it's vaporware. Yes. PoS chains using real practical byzantine fault tolerance like Cosmos Hub, using Tendermint consensus, have been running since 2018.
- Tenoke 6y ago
  >The article makes specific claims to the contrary Which are unsubstantiated. One minting is basically one (largish) transaction. Transactions arent quite that expensive, it costs maybe $50-100 and you definitely don't put months of electricity to earn that little as a miner. I don't have the numbers but it doesn't check out. >Does PoS actually work today? AFAICS it's vaporware. Yes, it's worked for a while.
kevingadd 6y ago
I think until NFTs can actually be minted and distributed via PoS, PoS doesn't matter. It's been "coming soon" for ages. I eagerly await Ethereum's transition to PoS but today when you sell crypto art it's PoW.
- Tenoke 6y ago
  >I think until NFTs can actually be minted and distributed via PoS, PoS doesn't matter. It's been "coming soon" for ages It's been coming soon on ETH. Again, you can use PoS options today outside of ETH. Tezos is a popular one, and even the biggest ETH marketplace (opensea) is adding Tezos as an option right now.
- whymarrh 6y ago
  There are platforms that don't use PoW that are becoming quite popular. The NBA's Top Shot platform is built [on Flow](https://www.onflow.org/primer https://www.onflow.org/primer) which does not use PoW. I'm not making _any_ claim about the worthiness/sustainability of the platform, just that it is what is being used. The list of "communities" on the Flow landing page suggests that it's being considered for a couple of high-profile platforms. > today when you sell crypto art it's PoW. I think more specifically when you sell crypto art on a platform that uses PoW, which makes this sentence a truism.
gitrog 6y ago
The article has a strong focus on the environmental impact, but a subtheme exists questioning the real value in cryptocurrencies at all. The author addresses the existence of Po[X]: """ I’m sure you’re seeing the problem here- there is not a schema that doesn’t reward those who already are already wealthy, who are already bought in, who already have excess capital or access to outsized computational power. Almost universally they grant power to the already powerful. This is also a climate issue. """

by Tenoke 6y ago

lmm 6y ago

> which for 1 minting is fairly small The article makes specific claims to the contrary > just use the PoS options available today Does PoS actually work today? AFAICS it's vaporware.

lima 6y ago
> Does PoS actually work today? AFAICS it's vaporware. Yes. PoS chains using real practical byzantine fault tolerance like Cosmos Hub, using Tendermint consensus, have been running since 2018.
Tenoke 6y ago
>The article makes specific claims to the contrary Which are unsubstantiated. One minting is basically one (largish) transaction. Transactions arent quite that expensive, it costs maybe $50-100 and you definitely don't put months of electricity to earn that little as a miner. I don't have the numbers but it doesn't check out. >Does PoS actually work today? AFAICS it's vaporware. Yes, it's worked for a while.

kevingadd 6y ago

I think until NFTs can actually be minted and distributed via PoS, PoS doesn't matter. It's been "coming soon" for ages. I eagerly await Ethereum's transition to PoS but today when you sell crypto art it's PoW.

Tenoke 6y ago
>I think until NFTs can actually be minted and distributed via PoS, PoS doesn't matter. It's been "coming soon" for ages It's been coming soon on ETH. Again, you can use PoS options today outside of ETH. Tezos is a popular one, and even the biggest ETH marketplace (opensea) is adding Tezos as an option right now.
whymarrh 6y ago
There are platforms that don't use PoW that are becoming quite popular. The NBA's Top Shot platform is built [on Flow](https://www.onflow.org/primer https://www.onflow.org/primer) which does not use PoW. I'm not making _any_ claim about the worthiness/sustainability of the platform, just that it is what is being used. The list of "communities" on the Flow landing page suggests that it's being considered for a couple of high-profile platforms. > today when you sell crypto art it's PoW. I think more specifically when you sell crypto art on a platform that uses PoW, which makes this sentence a truism.

gitrog 6y ago

The article has a strong focus on the environmental impact, but a subtheme exists questioning the real value in cryptocurrencies at all. The author addresses the existence of Po[X]: """ I’m sure you’re seeing the problem here- there is not a schema that doesn’t reward those who already are already wealthy, who are already bought in, who already have excess capital or access to outsized computational power. Almost universally they grant power to the already powerful. This is also a climate issue. """