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/biz/ - Business & Finance

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13833290 No.13833290 [Reply] [Original]

looks like ETH is more centralized than BTC
https://news.slashdot.org/story/19/05/16/1913247/just-376-people-found-to-own-a-third-of-all-ether-cryptocurrency

>> No.13833305

>>13833290
does not matter
BTC is there for speculation only

>> No.13833316

>>13833290
Bitcoin has larger whales than ETH. Ethereum has no Max Supply.

>> No.13833474

this is EXACTLY why 0xBTC exists

>> No.13833489

>>13833474
Tell me about this 0xBTC

>> No.13833546

just 376 people own 50% of USD.
money will always be distributed like this.

>> No.13833558

>>13833489
its gay and bent and its ass is up for rent

>> No.13833573
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13833573

>>13833558
>its ass is up for rent

>> No.13833639

>>13833489
inb4 FPGA

>> No.13833663

>>13833489
So we can clearly tell that 376 people owns a third of the entire ETH supply. But the network (Ethereum) itself is a great platform. This is why 0xBTC IS the perfect fucking currency of the Ethereum network, the end. Also try 51% attack it like BCASH once PoS comes around lmao

>> No.13834245

>>13833290
Good, the more whales the better. This is an unregulated market and they can drive the price up better than equal distribution ever could

>> No.13834332

>>13833290
Imagine the smell.

>> No.13835422
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13835422

>>13833663
>PoS is a good idea because what we need is to bring crypto closer to the way fiat work.

>> No.13835991

>>13835422
I don't see how either PoW and PoS are a good idea in the long run.

PoW: You earn tokens by wasting electricity and valuable computing hardware.
PoS: You earn tokens the more tokens you have.

A token /biz/ is obsessed about: You earn more tokens by providing a service of delivering and confirming information. If you fail, you lose some.
Honestly, can't you see both are crap and obsolete?

>> No.13836241
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13836241

>>13835991
it's about power, with proof of stake you either have money or you don't. those in power can just make sure not to release their power (their money) and stay in power, or they selectively decide who will get it or how much. poor people can't really put any money aside to "vote" against the behemoths that have 5000 times more votes than them

with proof of work you can save up for hardware and compete as a business, this hardware can be obtained in many more ways than obtaining required money (specific crypto). in theory you can even invent machines on your own that outperforms others. sure you'll be up against big miners but you won't be up against fat cats that have all the money and there's no way into the system unless they say so.

>> No.13836320

>>13835991
>>13836241
it's strange the idea "rich gets richer with pos" is so prevalent in brainlets
for sure, some of you are king shitcoin maximalists or peddling your own pow crap, but not all of you
it must have to do with an inability to understand basic math on an intuitive level, the difference between relative and absolute. so to you mongs, if jim gets 1 from his 10 and jack gets 30 from his 300, the system is stacked for jack
it gets downright weird to see so many of you supporting pow, where economies of scale dictate the more capital you have, the greater proportional reward you get, yielding MUCH greater absolute rewards
there's a mystery here and whoever solves it owns the recipe to sell snake oil to millions

>> No.13836331

>>13833316
Perhaps at the moment, but hen ETH goes to proof of stake, their whales are only going to get bigger and bigger.

>> No.13836421
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13836421

>>13835991
Why have you not given a shit all these years when I use my video card to play games, but all of a sudden crap your pants when I use it to mine?

>> No.13836447
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13836447

>>13836320
you're the type that call others brainlets in the first row so how many would even read what you have to say? have you successfully convinced anyone over to your side, ever? i mean, i did try reading your post but you explained your stance so poorly that i don't really know what to make of you. i guess you're just one of those "muh planet" types?