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You can buy GPUs/ASICs with $, so can you buy coins with $. PoS is as "open" as PoW, except the means of exchange is different. For PoW, you convert electricity
by totony 4y ago
You can buy GPUs/ASICs with $, so can you buy coins with $. PoS is as "open" as PoW, except the means of exchange is different. For PoW, you convert electricity (capital) into coins, whereas PoS you convert money (capital) into coins.
- arcticbull 4y agoSmall quibble but broadly agree. In PoW you convert capital into electricity which then gets converted into coins. In PoS you convert capital into coins which then gets converted into more coins. Same starting material, same ending material, different intermediate steps. That's why my argument is that they're basically the same at the limit.