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Hope we now can start a proof of stake cycle. Peercoin is dead. What other proof of stake viable currency is there? Only when the energy impact of crypto curre

Hope we now can start a proof of stake cycle. Peercoin is dead. What other proof of stake viable currency is there? Only when the energy impact of crypto currency is dealt with will i indulge in speculating that it can be a net good for humanicy

anticensor 5y ago
Ethereum 2.0.
companyhen 5y ago
Polkadot / Kusama (by the original CTO of Ethereum Dr. Gavin Wood) Nice recent interview: https://www.youtube.com/watch?v=KAa1vKyVR5M https://www.youtube.com/watch?v=KAa1vKyVR5M
- pcthrowaway 5y ago
  Polkadot/Kusama are amazing projects, but not designed to be used primarily as p2p currencies. As much as I have some issues / doubts with Cardano, I still think it's the most viable PoS cryptocurrency for mass adoption right now. ETH2 maybe also, whenever the transition actually happens.
  - burnethtards 5y ago
    except the fact they are literally centrally premined scams and not permissionless since you can't get stake without someone choosing for literally no forced reason to give you access there's a reason ethereum has always been considered a scam by every developer in the space that wasn't a premine scammer
amelius 5y ago
We need proof of CO2 scrubbing.
- quickthrower2 5y ago
  We have that now. Reward block in 100 years. It’s a physical reward of a habitable planet.
- nicbou 5y ago
  Replace the gold standard with the CO2 standard. Tie currency to carbon captured and stored.
- adflux 5y ago
  This is actually a great idea. Sell carbon capture machines backed by a cryptocurrency. Basically what Helium is doing for IoT networks, could be done for carbon capture machines aswell. Helium sells branded radio modules, "miners" provide network coverage and get paid for this in Helium(coin) CarbonCoin (patent pending) could do the same, produce or white-label carbon capture machines, add logging modules to keep track how much CO2 is captured and pay the owners of these machines in CarbonCoin.
float4 5y ago
Cardano
jazzyjackson 5y ago
Proof of stake is validation-by-the-rich I like https://chia.net https://chia.net, even if hackernews was just panicking about a harddrive shortage (proof of space) I can't accept that playing bingo on terabyte drives will ever be profitable enough to buy a data center for it. Anyway it's the programmability (chialisp) that is really interesting.
- quickthrower2 5y ago
  Chia is a puppy-stage environmental and supply chain disaster waiting to happen. If you burn an ssd a week to make a tiny profit, you’ll have people burning racks of them and creating tonnes of eWaste. Look forward to $2k entry level laptops (see gpu prices)
- dragonwriter 5y ago
  > Proof of stake is validation-by-the-rich But so is proof-of-work. PoS is weighted by how much wealth you’ve got at risk in the system, PoW by how much you have currently tied up supporting the system’s infrastructure. So, they look at different uses of wealth, but both are looking at wealth. Proof-of-X is pretty invariably “Wealth, applied to X”, especially if the system ever becomes even loosely recognized as money-like.
  - wraptile 5y ago
    Exactly, proof of work is even more for rich because it's all about availability to processors and cheap energy - guess who has that? super rich and corrupt. Proof of Stake is validation by faith in the network which is infinitely more reliable and fair. In fact it's much more alligned with bitcoins philosophy of positive-greed than proof of work is in the current day. Heads of PoS need the network healthy for their assets to be healthy - heads of PoW can rotate shitcoins every month since they mine all the same.
- samatman 5y ago
  You used to be able to mine Bitcoin on a CPU. Then a GPU, now it takes warehouses full of ASICs to do it profitably. What's stopping Chia from doing the same thing to the storage space? Adoption. I don't like Chia, and I don't want other people to like it either.
archerx 5y ago
Check out Ark coin, its proof of stake since the beginning and they’re doing interesting things that are sustainable.
harwoodleon 5y ago
Https://Nano.org
- cookguyruffles 5y ago
  It seems initial distribution was centrally managed in this coin. Needs much stronger proof of no foul play in this case than a shiny web site
- ptsneves 5y ago
  Where can one buy some?
deleted 5y ago
[deleted]
burnethtards 5y ago
Proof of stake cannot be decentralized since it's permissioned by stake and not permissionless - we studied it since it first thought about in 2014. You literally cannot get stake without someone giving you permission because it's an internally already owned resource. Permission is barrier to entry of up to infinity and another word for censorship. If control is not distributed without permission to independent parties, it cannot be called decentralized nor censorship resistant. There is no alternative to proof of work because that uses an EXTERNAL permissionless resource available all over the universe for a reason. And it does it in a matter that's provable via a concept known as unforgeable costliness. Not only is mining permissionless, it's costly to everyone. At equilibrium the mining costs force miners to sell virtually all coins and depend on the markets for recovering those sunk costs just to break even. That means miners are literally forced to give up control to the markets and makes the coins equally accessible without permission via mining or buying on markets forced through unforgeable costliness. The markets, and coin owners, get to price incentives that pay miners on every possible version of the chain preventing many issues including miner collusion that could render sunk costs unrecoverable. Proof of stake is opposite - it literally forces a permission be given by every token put up for sale, something they never have to do. Staking rewards literally incentivize opposite of distributing control to others by giving you rewards in form of more coins and more control without any additional costs forever. Proof of work is the most efficient way, the only known way, and the best known way to decentralize control. And it uses far less energy than entire countries regularly use to secure their currency, all in adversarial environment. The biggest challenge for real decentralized cryptocurrencies is lack of education and enormous incentives to deceive and miseducate everyone for profit. This is why there's so much money these days spent marketing scams that pretend to be cryptocurrencies but are centrally premined (literally skipped permissionless mining for majority for permissioned centrally pre-mined coins) or trivially printed authority token designs like proof of stake all completely permissioned.

anticensor 5y ago

Ethereum 2.0.

companyhen 5y ago

Polkadot / Kusama (by the original CTO of Ethereum Dr. Gavin Wood) Nice recent interview: https://www.youtube.com/watch?v=KAa1vKyVR5M https://www.youtube.com/watch?v=KAa1vKyVR5M

pcthrowaway 5y ago
Polkadot/Kusama are amazing projects, but not designed to be used primarily as p2p currencies. As much as I have some issues / doubts with Cardano, I still think it's the most viable PoS cryptocurrency for mass adoption right now. ETH2 maybe also, whenever the transition actually happens.
- burnethtards 5y ago
  except the fact they are literally centrally premined scams and not permissionless since you can't get stake without someone choosing for literally no forced reason to give you access there's a reason ethereum has always been considered a scam by every developer in the space that wasn't a premine scammer

amelius 5y ago

We need proof of CO2 scrubbing.

quickthrower2 5y ago
We have that now. Reward block in 100 years. It’s a physical reward of a habitable planet.
nicbou 5y ago
Replace the gold standard with the CO2 standard. Tie currency to carbon captured and stored.
adflux 5y ago
This is actually a great idea. Sell carbon capture machines backed by a cryptocurrency. Basically what Helium is doing for IoT networks, could be done for carbon capture machines aswell. Helium sells branded radio modules, "miners" provide network coverage and get paid for this in Helium(coin) CarbonCoin (patent pending) could do the same, produce or white-label carbon capture machines, add logging modules to keep track how much CO2 is captured and pay the owners of these machines in CarbonCoin.

float4 5y ago

Cardano

jazzyjackson 5y ago

Proof of stake is validation-by-the-rich I like https://chia.net https://chia.net, even if hackernews was just panicking about a harddrive shortage (proof of space) I can't accept that playing bingo on terabyte drives will ever be profitable enough to buy a data center for it. Anyway it's the programmability (chialisp) that is really interesting.

quickthrower2 5y ago
Chia is a puppy-stage environmental and supply chain disaster waiting to happen. If you burn an ssd a week to make a tiny profit, you’ll have people burning racks of them and creating tonnes of eWaste. Look forward to $2k entry level laptops (see gpu prices)
dragonwriter 5y ago
> Proof of stake is validation-by-the-rich But so is proof-of-work. PoS is weighted by how much wealth you’ve got at risk in the system, PoW by how much you have currently tied up supporting the system’s infrastructure. So, they look at different uses of wealth, but both are looking at wealth. Proof-of-X is pretty invariably “Wealth, applied to X”, especially if the system ever becomes even loosely recognized as money-like.
- wraptile 5y ago
  Exactly, proof of work is even more for rich because it's all about availability to processors and cheap energy - guess who has that? super rich and corrupt. Proof of Stake is validation by faith in the network which is infinitely more reliable and fair. In fact it's much more alligned with bitcoins philosophy of positive-greed than proof of work is in the current day. Heads of PoS need the network healthy for their assets to be healthy - heads of PoW can rotate shitcoins every month since they mine all the same.
samatman 5y ago
You used to be able to mine Bitcoin on a CPU. Then a GPU, now it takes warehouses full of ASICs to do it profitably. What's stopping Chia from doing the same thing to the storage space? Adoption. I don't like Chia, and I don't want other people to like it either.

archerx 5y ago

Check out Ark coin, its proof of stake since the beginning and they’re doing interesting things that are sustainable.

harwoodleon 5y ago

Https://Nano.org

cookguyruffles 5y ago
It seems initial distribution was centrally managed in this coin. Needs much stronger proof of no foul play in this case than a shiny web site
ptsneves 5y ago
Where can one buy some?

deleted 5y ago

[deleted]

burnethtards 5y ago

Proof of stake cannot be decentralized since it's permissioned by stake and not permissionless - we studied it since it first thought about in 2014. You literally cannot get stake without someone giving you permission because it's an internally already owned resource. Permission is barrier to entry of up to infinity and another word for censorship. If control is not distributed without permission to independent parties, it cannot be called decentralized nor censorship resistant. There is no alternative to proof of work because that uses an EXTERNAL permissionless resource available all over the universe for a reason. And it does it in a matter that's provable via a concept known as unforgeable costliness. Not only is mining permissionless, it's costly to everyone. At equilibrium the mining costs force miners to sell virtually all coins and depend on the markets for recovering those sunk costs just to break even. That means miners are literally forced to give up control to the markets and makes the coins equally accessible without permission via mining or buying on markets forced through unforgeable costliness. The markets, and coin owners, get to price incentives that pay miners on every possible version of the chain preventing many issues including miner collusion that could render sunk costs unrecoverable. Proof of stake is opposite - it literally forces a permission be given by every token put up for sale, something they never have to do. Staking rewards literally incentivize opposite of distributing control to others by giving you rewards in form of more coins and more control without any additional costs forever. Proof of work is the most efficient way, the only known way, and the best known way to decentralize control. And it uses far less energy than entire countries regularly use to secure their currency, all in adversarial environment. The biggest challenge for real decentralized cryptocurrencies is lack of education and enormous incentives to deceive and miseducate everyone for profit. This is why there's so much money these days spent marketing scams that pretend to be cryptocurrencies but are centrally premined (literally skipped permissionless mining for majority for permissioned centrally pre-mined coins) or trivially printed authority token designs like proof of stake all completely permissioned.