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Okay lets go with the premise that it does it wrong like all other crypto. Now what? Its still wrong? How is this even an argument? And more so how is it an pro
by noxer 6y ago
Okay lets go with the premise that it does it wrong like all other crypto. Now what? Its still wrong? How is this even an argument? And more so how is it an pro argument? Its not less wrong or something its exactly the same wrong.
>I think what it is doing right is making PoW into actually useful computation...
PoW is used for decentral consensus. Its super bad at this but somewhat works anyway. FBA consensus does not need PoW so in general we dont need PoW for a bitcoin like system. FBA system exist since like 2013 or so. Using PoW for something good is still objective worse than not using PoW for the system at all. Else we could add some PoW to literally everything.
Now even worse than that is using PoS (objectively worse than FBA) and then add PoW/PoR for no reason at all (now you have gridcoin).
It doesn't try to be a better bitcoin because if it would there would be no reason to add any kind of PoW since its not needed.
The work/research is not used in the consensus mechanism at all.
Its a PoS system with a PoW/R money printer attached.
The whole thing obviously doesn't come from bitcoin evolving somehow into something better. It comes form BOINIC devs jumping on the blockchain train because why not. It allowed them to print incentives at no cost to attach people to donate they CPU power.
Its literally a money printer to attract donations its ridiculous. If you would say someone that they get a printed griddollar bill for every dollar donation people would laugh. But somehow if you add a bit blockchain flavor it fools people to do exactly that and worse people are even willing to buy the griddollar bill.
- nathias 6y agomost of PoW is not used for consensus, but for distribution, to use PoS for consensus with PoW for distribution is exactly as ridiculus as PoW