/biz/ - Business & Finance

>>51376842
Why?

So the largest stakes determine the correct blocks? Kekekek

It won’t adopt PoS, Adam Back and bitfuck whales won’t allow it
Chris Larsen will force it to be Proof of Byzantine agreement through legislation though. He will not stop until majority of bitfuck is tokenized and transacting within the XRPL.

>>51376852
> "mining" in 2022
finding strings with leading zeros using loop and rand() fnc

>>51376863
prolly this

>>51376842
you don't understand Proof of Work or Proof of stake. you were to late to make it big with Bitcoin with your $20k investement and now you hate it.

BTC doesn't have a central gang who constantly fucks with the protocol

>>51376852
because muh environment

>>51376877
>>51376879
6TX/s
20 minutes to confirm TX
wake up, it's 2022
your obsolete tech goes to 0

>>51376889
It's digital gold. It was never meant to transfer quickly.

>>51376852
Several potential reasons.
1. Mining being outlawed everywhere due to environmental threats. Even if underground mining is still possible then, it would be a mere fraction of the current scale of mining, and that proportionally reduces security of the network, making it easy to 50% attack. This would evaporate trust in it, and since trust is the only advantage of bitcoin these days, it would then die.
2. As time passes, mining rewards are approaching zero, and this means that for mining power, and thus security, to stay the same, fees would need to skyrocket, making it unusable.

>>51376889
>completely different topic
LEL enjoy sucking Vitalik's dick, lets hope your mouth isn't as tiny as your brain

>>51376906
digital gold is a meme invented by BTC bagies

>>51376922
I wouldn't touch eferiums in a million years.

>>51376906
Even my gold in the backyard has more privacy than Bitfuck.
Beside that, Satoshi, Finney and all the cryptopunk OGs saw Bitcoin as a cheap, fast payment coin.
With privacy integration later on.
But BTC got corrupte already years ago
Today its the most boring stuff out there.
Every new tech progress happens in Alts.

>>51376879
The central gang is Bitfenex/Tether whales you retards.
>>51376889
This

If Bitcoin even suggests at seriously implementing PoS I will sell all my Bitcoin instantly and leave crypto forever.

>>51376842
>>51376915
>>51376929
Let me fast forward on ETH PoS. The large institutions will buy up the stake and become the primary stake holders. This will pump ETH to a 5 figure asset. Then they will implement OFAC censorship. Hard fork if you want, but no one will want to see their $20k ETH go back down to $800. ETH will become just another tool of central banks.

>>51376994
mining is literary this:
"finding strings with leading zeros using loop and rand() fnc"
are you retarded?

>>51376956
>Privacy
Ok fag, how many sats am I holding?

>>51376915
So why is it still the largest crypto asset on earth? Is everybody on the planet just really dumb and you're the only genius smart enough to figure this out?

>>51376842
PoS is only for Piece of Shit coins, BTC will never be PoS

>>51377028
People definitely know about it. Even many bitcoin maxis have admitted that these are serious problems in the long term.
Why do they still use it? Well, let's get one fact out of the way first:
90% of people using BTC (if you can even call most of it "use" rather than simple speculation/hoarding) didn't choose it over other coins for any thought-out or rational reason, but rather simply because it was the first thing they heard of when learning about crypto. Word of mouth and name recognition is insanely powerful for pumping a price. THAT's why it's the largest crypto asset on earth. It has nothing to do with tech.
As for the minority that are the other, more informed BTC users, you'd have to ask them why they use it, but I guess they think that the advantages of BTC over other coins outweigh the weaknesses I posted, or they think that those weaknesses will eventually be fixed in some way before they start to become a real problem, but without having to switch away from PoW. That's a fair belief even though I disagree.

>>51377107
Nobody is reading your delusional blogpost dumbfuck go back wherever you came from

>>51376915
>fees would need to skyrocket
Isn't that why the price goes up? People won't sell if the fees are higher than what they will get for selling?

>>51376842
this post brought to you by

>>51377131
No, that's not enough to hold the price up. Whales don't care about high fees because even a potential $1000 tx fee is peanuts when moving $100 million in coins. And also a lot of BTC holders keep their BTC on custodial wallets like exchanges where there are no blockchain fee transfers when selling.

>>51377107
These days, most BTC is held by institutional investors. BTC moves with the general markets. Under ETH PoS, institutions will become the primary stake holders. They will then play games like OFAC censoring.

>>51376906
I can transfer real gold faster than that
its obsolete and thats a cope

>>51377178
>Under ETH PoS, institutions will become the primary stake holders. They will then play games like OFAC censoring.
I've yet to hear any reasons why the ratio of institutional ETH stakers would be any higher than the ratio of institutional BTC miners.
In other words any reason why this would be any worse in PoS than PoW in general.

>>51376842
Proof of Stake is FIAT money with extra steps and will inevitably fail
Good luck with your microscopic shares in the mETHard LLC run by Consensys (JP Morgan) and ETH globohomo Foundation

>>51377196
Because institutions buy assets, not mining farms. Institutions are not going to run a BTC full node. Not in their DNA. Institutions will buy large stakes in any asset (see commodities and real estate). The cartel of governments, regulators, and banks are quite eager to make crypto play ball with the current world order. See Tornado Cash and OFAC. They will demand ETH censor transactions against certain actors. ETH maxis know this and are threatening to hard fork if it ever comes to this.

>>51377264
Why not? Institutions buy whatever they think will make them money. It may seem like they are only buying assets, but that's only because assets are abstractions that can represent almost anything. If they want to control mining, they may not literally buy mining equipment directly, but they sure as hell can buy all the stock of mining companies, which is essentially the same thing.

>>51376915
>>51377107
>>51377172
>>51377196
>>51377323
low iq

>>51377370
Nothing gives me more confidence in my arguments than people being unable to counter them and resorting to insults.

>>51377323
controlling the majority of the hashrate doesn't give you any special privilege
https://en.bitcoinwiki.org/wiki/User_Activated_Soft_Fork
while ETH already had a centralized monetary policy and it's only gonna get worse from here
control of ETH stake means control of the protocol, UASF on ETH are impossible

>>51377382
You didn't post anything worth disputing. It can all be safely discarded as trash because you're fucking retarded, clearly

>late adopter tries and fails to understand bitcoin

>>51377107
At this point in a bear market, very few of the holders just buying it for the hell of it are still in this market.

The reason I hold BTC is because it fulfills a hole in our financial system we never consider existed, similar to how gold built on the barter system with a single medium of exchange that is valuable everywhere.

BTC fills the gap of a store of wealth that is trustless, easily transferrable, divisible, and cannot be diluted. It is an asset for those who do not want to be exposed to any external uncertainties, of which today there seem to be more and more, either when holding or transacting.

I will have 1btc tomorrow, I will have 1btc in 100 years. Nothing can dilute my btc and devalue it. Nobody can take it from me. It is the purest form of ownership if you memorize your seed phrase: it would be harder to take than my own kidneys.

As gold built on barter, as gold backed currency built on gold, we then took a step back with fiat. This was the opportunity that gave btc the room to flourish: there was a need for the service it offered.

Those who choose to use btc as their store of value, and thier benchmark of value, are immediately more free and more powerful than those who don't.

There is no second best.

>>51377388
>controlling the majority of the hashrate doesn't give you any special privilege
>https://en.bitcoinwiki.org/wiki/User_Activated_Soft_Fork
>control of ETH stake means control of the protocol, UASF on ETH are impossible
Mining BTC gives you just as much privilege as staking ETH. Ethereum stakers can also not force through changes that the majority of nodes disagree with, because it is the nodes that contain the protocol rules, and users can thus agree to fork malicious stakers away if they want to.
>while ETH already had a centralized monetary policy and it's only gonna get worse from here
ETH's monetary policy stopped being centralized the moment of the genesis block 7 years ago.

>>51377107
>90% of people using BTC didn't choose it over other coins for any thought-out or rational reason
pulling numbers out of your ass
>It has nothing to do with tech.
Bitcoin has nothing to do with tech because Bitcoin is first of all SOUND MONEY
Money means sound monetary policy, free from human control, free from human central planning, free from human policy modifications (complete opposite of what a bunch of tranny developers having weekly meetings on zoom constantly do)
ETH supply is unknown and the future of ETH supply is even more unknown (it is widely accepted by mETHards that supply and monetary policy will be re-adjusted at runtime with constant human decisions)
Bitcoin instead doesn't fucking care about Vitalik mood swings, monetary policy is fixed, and it's out of human decisions.
If you cannot understand this simple concept, sorry, good luck with your LLC tokens on a company you are not the majority shareholder
You will be diluted away, you don't matter at all

Where did we go wrong guys. Btc is the only coin that still remains for the people by the people.
Ethereum is becoming another offshore tax haven ghost company. It already provides nothing of value and is just becoming a centralized behemoth. How can you call them decentralized applications with a straight face?

>>51376915
>Mining being outlawed everywhere

mhmmm that worked in China didn't it considering 20% of hash rate is still coming from China despite it being "illegal" there.

I smell many priced out anons in this thread

>>51377453
>At this point in a bear market, very few of the holders just buying it for the hell of it are still in this market.
Oh I completely disagree. In fact it sounds like you are one of them, because all the rest of your post describes plenty of coins other than BTC too, which means that there was some other reason you specifically chose BTC over those others, for example precisely for the reason I described earlier.

>>51377455
>ETH's monetary policy stopped being centralized the moment of the genesis block 7 years ago.
moron, you are a complete fucking moron, and also a liar
ETH monetary policy changed dozens of times, and it has an impressive track record of making more changes than FED FOMC meetings
ETH is just another FIAT currency with even more human interventions on monetary policies

>>51377482
No, there isn't.

There isn't another coin with a creator who perfected their anonymity, or who has allowed their creation to flourish to this level without tinkering with it for such a long time, or even moving the unbelievable amount of wealth he has.

There is no other coin which has revolutionized how our species views wealth. BTC isn't a copycat or an extension of another currency that already existed.

BTC is the foundation upon which every single altcoin was born. It is the land on which this industry is built.

It fulfills this role perfectly. The globally agreed upon standard and solid, immutable foundation of every other copycat coin out there.

Comparing btc to any other coin is just... Embarrassing

>>51377482
i choose only-BTC because i don't want my money to change supply and incentives behaviour overnight because of some skinny pedophile
simple as

>>51376906
Pure copium

>>51376915
I was anti btc before but the game theory is too strong. When the global hash wars begin, countries will be competing to secure the network.

>>51377549
>ETH monetary policy changed dozens of times
Yes, it was changed in decentralized ways. Hence the monetary policy is decentralized.

>>51377455
>Mining BTC gives you just as much privilege as staking ETH. Ethereum stakers can also not force through changes that the majority of nodes disagree with, because it is the nodes that contain the protocol rules, and users can thus agree to fork malicious stakers away if they want to.

surely because the 100 petabyte ETH nodes are run by the common man

>>51377717
it was changed by tranny devs during zoom meetings
and they didn't ask for your or my permission
the rest is just pure cope, deal with it
you were forced to accept those changes without any possibility of opposition
doesn't look like decentralized money to me
with BTC i'm 100% sure tomorrow morning i'm going to wake up and the supply and emission rate is predictable and fixed for the next 100 years
with ETH i'm 100% sure some keynesian globohomo tax-lover statist bootlicker pedophile is gonna fuck with it depending on his mood

>>51377717
Ah, yes. Nothing more decentralised than forcing everyone to do what you want with a difficulty bomb. Ask me how I know you're a lying grifter here to mislead people and you know you're full of shit

>>51377805
All changes had to be accepted by node operators my dude.

>>51378016
mETHeads are really motherfucking double digits IQ monkeys i swear
why is it so hard for you to distinguish between
>nobody can fuck with my money (good)
from
>majority can fuck with my money (bad)
just because the majority accepts some change doesn't mean i want that change
it's like confusing
>actual freedom
for
>(((freedom of vote and democracy)))
aka tyranny of the majority
i don't want to be imposed new protocol rules and new monetary policy changes by the majority
people are retarded
i just want money nobody can fuck with
IT IS NOT A CONCEPT THAT IS SO HARD TO GRASP
JUST LET YOUR NEURONES FIRE ONCE IN A WHILE

>>51378164
this is the way

>>51377826
The difficulty bomb was also implemented (and upkept) in a decentralized way. I think you have a fundamental misunderstanding of how ethereum upgrades happen.

>>51377479
That's just it. Only midwits think they are priced out. Altcoins are peak midwittery.

>>51378164
This is why you need republic coin with smart contracts, with lower house for the plebs and upper house for the free thinkers. With executive ceo governance token and judicial token. Also implements refundable tokens which operates exactly like credit cards.

>>51378267
Read again my post >>51378164
SLOWLY

>>51378267
You have a fundamental misunderstanding of what decentralized means

>>51377004
Based anon

>>51376842
lol make one about monero too

>>51378164
Correct.
Not gonna invest in anything where a group of gatekeeping trannies and soimale "devs" can fuck with the money supply, rate of emissions, etc etc.

Get the fuck away from my BTC.

>>51377777
checked

>>51376842
>>51376866
>>51376915
Eth is already dead. 60% of the stake is locked-on exchanges and 100% of exchanges are controlled by the US government and other governments; it's programmatically a plutocracy and programmatically centralized so effectively: it's not even crypto anymore but some banking instrument of the old banks; mining can switch pool or even asset instantaneously and it's not even locked on chain so it's implicitly decentralized and anonymous.

"Wasted energy" is a meme for retarded redditors; 0 energy is wasted; 100% of it goes to ..proof of work which is 100% an increase in security by ..proof of work and in a decentralized way on top.

>>51377573
People have to go through the system of finding out about BTC, then alts, then even lower cap shit, getting raped. If they stick about after that then they normally realize why BTC is so special (and LTC + XMR but to a lesser degree). It's perfect hard money and that's the revolution of Nakamoto consensus. L1's like SOL, ADA etc are looking to replace payment layers and lock you into their respective networks putting you at the mercy of stakeholders which makes them nothing more at an attempt to replace current systems that subjugate people with ones they own. They are essentially attempts at stakeholders of these networks trying to become modern day central bankers. Bitcoin represents freedom and is an iteration on gold. Societies that used gold were more free, had less inequalities of wealth and the average person held more power and this is what the BTC standard promises when adopted.

TLDR: Investing in anything but BTC, LTC, XMR is investing in something other than the purpose of this space. Independent, unfuckable hard money that enables liberty and freedom. Everything else is an attempt at subjugating others to the will of powerful stakeholders.

>>51377323
It's cost/time prohibitive to buy the necessary computing power to 51% attack BTC. Also, any successful 51% attack would be the death of the project thus you just threw away billions in ASIC miners.

PoS stakers need only hold enough market cap to censor transactions. Yes, retail could try slashing or social slashing but they too don't want to tank their retail bags. They will just go along with the program.

>>51377382
I am not sure you understand how crypto works.

>>51378980
Worse, most of the staking is done on AWS.

>>51376842
BSV exists
/Thread
T. Satoshi nakamoto

>>51377028
Yes. People are fucking retarded. Especially when money is involved, they will become really fucking retarded.
Bitcoin is going to die regardless, because it's if you manage to shut up the part of your brain that thinks "omg i become rich!??!?" when looking at bitcoin, you'll struggle to find reasons for it not to crash.
The design is dogshit compared to the alternatives we have nowadays (atleast it's not a PoShit coin yet lol), it's hilariously centralized, and is honestly just kept alive from IV-drips of ungodly amounts of money. Even if it was comparable to any alternative, do you think the remaining part of the no-coiner world population would adopt a currency system (that's not even being used by most owners) where early adoptors just sit on an insane amount of wealth compared to them for no good reason? No. That would be an absolute suckers move, which, believe it or not you fucking FOMO faggots, is how most people act when presented with something like this.
It's not some esoteric secret only few know. In fact, it's probably being yelled at you several times a day, but there is no way to break the shared delusion of bitcoin holders. This post is me yelling at you.

Bitcoin is a scam, plain and simple. Buying into the idea of Bitcoin is what makes you the sucker, and you're being slowly milked dry.
You'll all probably have a shot to get out with profits since it's probably going to moon atleast once more, but get the second it loses momentum get the fuck out. You'll live to regret not doing just that.
This post was my good deed of the day, but taking it into consideration is your decision. Make sure it's a decision you won't regret in 10 years time, wchichever choice you make.

>>51376842
we will see. it's entirely possible that it has to go hybrid for good finality.

>>51376855
not really how pos works. a block has to be valid signing an invalid block will get a stake slashed. nodes validate blocks same as pow.

>You can only do PoW or PoS

Why the fuck did Proof of Capacity die out as a concept? You can have an actual resource maintaining security (which can be repurposed unlike ASICs) while using a hell of a lot less power. You don't 'need' PoS to get lower energy than PoW

>>51379517
>Bitcoin is going to die
2140 problems. In the meantime, tell us what happens when institutional investors become the primary ETH stakeholders and OFAC tells them to censor transactions.

>>51379592
This retard is why Bitcoin still exists btw. He is so deluded he mentally blacks out the part of the post where I shit on PoS to keep the delusion up.
If you're not quite there yet, realize this, and
WAKE UP.

>>51379697
ESL? Not sure I understand your point.

>>51377004
Is this supposed to be fud? I'll sell my ETH in a heartbeat if it reaches 20k

>>51379517
Let me guess what your true intentions are inside that word salad, you have the delusion Monero is "better technology".

Forced anonymity is itself its biggest disadvantage because economies can't function without transparency of the wealthy.

>>51379550
>PoS advocate
>Advocates for slashing
If you are trying to shill PoS atleast shill us some PoS mechanism which isn't designed by retards.

>>51379564
As an ex-Burstcoin Miner I'm genuinely surprised PoC didn't take off either. I think it's just been a popularity/network effect that's kept it from getting off the ground. Even if the fundamentals are sound no one used the few chains that employed it for anything other than mining or speculative trading and all the big chains never survived the Bear markets.

>>51376842
Eventually there will be enough brainlets, trannies and vaxxies screeching about fabricated issues that Bitcoin will be forced to change it's sybil control mechanism in some way to stay relevant. I don't think bitcoin will ever ditch PoW but it might pivot to some variant of it like proof of useful work or something else which hasn't been invented yet though.

>>51379517
You are a dumb nigger. You are the blackest retard gorilla nigger I have ever seen.

>>51379766
Monero will be used as a black market cryptocurrency, which will mean it will be the most used cryptocurrency in the coming few years unless someone does better, and probably exist for a while.
>economies can't function without transparency of the wealthy
lol, but as long as you mean "the GLOBAL economy can't function without ANY transparancy" you're completely right. Monero is not becoming the universally adopted de-centralized digital currency of the future, but nothing existing as of now is going to be either.

>>51379905
Point is most people don't want it and they are right to not want it because transparency is in their best interest.
Imagine for example if your government's wallet is a total black box.
You'll be the first to say fuck that and that's a lot of wealth in there.

>>51379871
i'm not shilling for pos. i'm just noting the common misconceptions.

for example some imbeciles seem to think pow provides better finality. but that's complete bullshit. the expected cost to brazenly attack a pow chain is insignificant compared to a pos chain as well.

pos has it's problems ofc.

>atleast shill us some PoS mechanism which isn't designed by retards.

you are asking for too much.

>>51379871
>Even if the fundamentals are sound no one used the few chains that employed it for anything other than mining or speculative trading and all the big chains never survived the Bear markets.
After Burst died and Signum (Burst's rebrand) might as well have launched dead, Chia is probably the only PoC coin left out there and even that's close to #200 in rankings of cryptos

>>51376842
If you don't suck my cock you will die

>>51377023
All I need is your name unless you've been scrambling/mixing every tx

>>51379592
Has anyone turned this guy into Sergey yet

If any blockchain doesn't implement quantum resistance, it will be rekt. QANplatform is the only safe blockchain.

>>51379517
Conservatives like you are the real deal. Fuck retard trust fund vc’s with too much play money

>>51379517
>from IV-drips of ungodly amounts of money. Even if it was comparable to any alternative, do you think the remaining part of the no-coiner world population would adopt a currency system (that's not even being used by most owners) where early adoptors just sit on an insane amount of wealth compared to them for no good reason? No.
Bitcoin marketcap is 414 billions, less than military industrial complex gifts for Ukraine
The alternative here is buying a BTC for the price of a Toyota Corolla (which seems to be affordable for hundreds of millions of people) or keep getting diluted away by unlimited fake money like USD, printed by the trillions without any accountability
The “inflation reduction act” alone is 740 billions, almost twice the BTC marketcap
March 2021 stimulus bill was 1.9 trillions, which is more than 4 times the BTC marketcap
And you are complaining about being late on the ultimate sound money asset…

>>51380614
If you are interested in PoS that wasn't designed by retards then go checkout Ouroboros. It's what Cardano and Polkadot use and I assure you it was developed by no one other than the whitest of the white scientists. It's a million miles ahead of pretty much anything else. Ethereum's PoS just so happens to be the most talked about but it's also one of the worst implementations of PoS I've seen. Slashing and non liquid stake is a recipe for disaster. One of the whole points of cryptocurrency is to give an individual complete sovereignty of their capital. Ethereums's PoS requires such a large amount of ETH that it completely locks average people out of solo staking or staking without trusting their money to a third party. In doing so it completely eliminates the concept of trustless hard money. It also serves to do nothing but reward the larger players and further centralize the network. Slashing is retarded because it also adds risk to staking when viable alternatives to slashing have already existed for nearly two years now and have been proven to work.

>>51380764
Chia literally brands itself as "Regulation compliant, sustainable and inclusive". Their team is a bunch of joos, women and brownies. I want to like Chia but it's website looks like a WEF initiative and investing in things which have a minority white team goes against my strategies of investing based on the race and sex of devs/teams. I have only made money doing this.

>>51378498
>So many inaccurate definitions about decentralization.
For example, I'm still yet to make a sense out of decentralization without privacy

>>51377264
>The cartel of governments, regulators, and banks are quite eager to make crypto play ball with the current world order. See Tornado
Not sure this trial will be successful on the long run. The sanction on a privacy protocol is an evident how vital they are in protecting the rights of users. Besides, the legitimate reasons to be private outweighs the counterpart which is something that will become further highlighted as time goes on.

>>51376842
>securing billions with proof o stake is a good idea

kek

>>51376889
k, keep us posted or whatever

>>51377023
Privacy shouldn't be trivialised, IMO.

>>51381703
Will like to see how it plays out with resilient privacy tools like Railgun with no multisig or admin keys if regulators come with the pressure

>>51380049
>Imagine for example if your government's wallet is a total black box.
You know that is the case for any somewhat powerful country right now, right? Besides, besides from using Monero for shady shit that's already kept from the public eye, Monero is going to be used in organized crime, tax evasion, dark-net markets. Most people aren't going to partake in that, but what does that matter when other current cryptos have noone who geniunly wants to partake in using them? Bitcoin would never be the cultural phenomenon it is now without the silk road, which still to this day was and still is the main reason to actually USE bitcoin.
>>51381079
Why buy a toyota corolla (that doesn't work) for $20.000 when you can buy a working one in the future for $1? The worst thing about your analogy is that it would be far worse to buy bitcoin with intent to adopt as a currency, as atleast you're not putting yourself lower on the monetary money totem pole my doing so.
Also, why do you think that a 414 billion marketcap on something that is already is close to obsolete and isn't retarded?

Bitcoin has been great at one thing, though, and that's generating money. It probably has some juice in it left, but please don't treat it as more than something to make you money. When it all comes crashing down it is the people who believed in the idea that are going to be paying the price (dumbshit hedgies gets bailouts) and it absolutely will crash sooner or later.
However, the idea of a mass adopted de-centralized digital currency does not at all die with Bitcoin, and is something that I believe will be achieved, so slap your face and get out of lala-land, because there is no fucking reason to stay there.

>>51376906
>Peer to peer electronic cash
Show me where in the white paper it mentions digital gold

>>51376879
What are mega whales, retard?

>>51381147
slashing is just a weird term people understand for punishing stakers that misbehave. and yes mining pools are magnitudes better than staking pools. eth is heading towards a disaster.
i think i checked ouroboros out once before but i remember nothing of it.
even keeping up with shit in bitcoin is exhausting.

>>51377464
Based BTC chad

>>51382720
> that is the case for any somewhat powerful country right now, right?
only dictatorships have black box wallets
even if you do it in a clandestine way: it won't last.
transparency in general is both wanted and good.

>>51376915
lmao the fucking irony of scaremongering a BTC 51% attack when it's a near-certainty for ETH 2. Never post again.

>>51376879
/thread

>>51376855

is having chink asic farms make the calls any better?

>>51379157
Well put. I'm almost certain anyone who thinks btc will die has spent <2 years in this space
>>51379517
I swear I have read this exact statement before... In 2014.

>>51377464
BASED.
This thread is full of retards who sold bitcoin to buy ethereum, kek.
They wanted BTC to go down to 10k, but it didnt.

>>51376879
is that what the midwits truly believe?

>>51376842
no it won’t. if volume increases, then transaction fees will suffice for miners. if they don’t, miners will hodl instead of selling at loss, thus propping the value of btc up.

>>51376842
Who's gonna stop me?
Nobody.
Siiiimple as

>>51376889
>>51376906
both of you are retards
proof of work has nothing to do with the transaction speed, holy shit

>>51384415
indeed it's a consensus mechanism but it really doesn't work too well with low block intervals. it has a serious centralizing effect someone did he math on it pretty well.

>>51384302
>>51376842
plus, the bitcoin network doesn’t need as much security as it has now, the hashrate can drop without affecting it. and if there is a miner exodus, the difficulty drops making room for more efficient miners. i don’t see bitcoin drastically changing.

>>51377004
Agreed. POW > Proof of Jew

>>51384504
ethereum had a few seconds block time on pow and I don't remember it being that centralized, but doing everything on layer 1 is retarded, high frequency trading for instance would be retarded on layer 1, which means speed can only be done on layer 2. not related with tx/secs, block size is another subject

>>51376842
The energy usage is a feature, not a bug.

There are many PoS chains it there. Let them both exist and see what keeps value over the decades.

>>51382909
From my understanding slashing is mostly a safeguard against bad actors attacking the network by spamming it with tons of appealing stakepools in an attempt to gain majority control. With enough money you could hijack the blockchain but slashing can act as a means of actively stopping bad actors from doing so.

Ouroboros PoS doesn't implement slashing but instead implements something called pledge. Basically stake pool operators pledge a certain amount of coins to their pool upon it's creation which become locked up until they close the stakepool. The higher the pledge is then the higher the potential for staking rewards becomes (There is a cap on this obviously). That means that bad actors can't spam the network with appealing/competitive pools nearly as easily since they have to spend MUCH more money to create competitive pools in the first place.

Ethereum's PoS employs active countermeasures through slashing which should be effective in stopping attacks but also introduces risk to staking since no one can be certain of whether or not the pool they have chosen to stake with is a bad actor and may get slashed. Cardano (Ouroboros based) employs preventative counter measures which prevent bad actors from ever acting in the first place. This is much safer since there is absolutely no risk of losing your money due to someone else's decisions.

I do agree that ETH is heading towards a disaster and is growing more centralized by the day but I don't agree that mining pools are magnitudes better than staking pools. PoS has it's own set of centralization issues but so does PoW. Ethereum is just developed by greedy retards who stopped caring about principles over profits a long time ago. PoS is not bad on it's own but Ethereum's popularity combined with it's bumblefuck retarded implementation of it will most certainly make it be seen as a much worse alternative to PoW. The only PoS system I've seen that is worse than what ETH is going to use is what EOS uses.

>>51377464
Based.

>>51377478
Mining isn't illegal in China. Holding bitcoin is and miners have to convert it all to chinkbucks the instant they receive it. China is smart enough to know that bitcoin is a major threat to their police state but they also know it can still be leveraged through mining operations to bring wealth to their people.

>>51376842
Imo it would be best to implement the POR concensus which is best of POW and POS where the scalability is taken care and an eco-friendly approach to mine the tokens with a mobile phone or with a raspberry pi.

>>51387426
Well If the scalability is solved that's really nice. Plus on the go we can mine males it comfortable. For me security is important so these are 2nd imo but quantum resistant blockchain is the reason for bagging QANX

>>51384887
ethereum is completely centralized it's not even funny.

>>51386045
>but also introduces risk to staking
staking SHOULD be risky! there is no way around it.

>>51376842
Nonsense. Bitcoin has to remain PoW so it can hold its name as a truly decentralized currency.
PoW = decentralized
PoS = Globohomo can control the network

>>51376842
you know there are more efficient systems than asic in terms of power efficiency, like the see-saw method and many others? you can reduce electricity consumption drastically while still requiring specialized hardware for optimal mining. should bitcoin even require it, it can switch to a more energy conserving system of proof of work, while still staying proof of work.

the biggest mistake int his whole proof of work arguement is that its black and white, its not, thinking so is absolutely retarded, nothing almost ever is. we have many shades of gray in between the extreme that is now and worthless pos tokens

>>51381147
I have my cardano staked in adalite. How to transfer delegation to ouroboros? Which site should I visit?