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7026635 No.7026635 [Reply] [Original]

What's the point in POW coins?
It's just a waste of electricity, and I think ETH still has this shit only because dev team is bought by miners/producers of mining hardware. There is literally no reason for having POW algorithm now. And don't say a shit about "Fair distribution", even at start you can create system that will not allow whales to buy all coins in your ICO.

>> No.7026646

>>7026635
pos is ponzi

>> No.7026705

>>7026635
I'm pretty sure most staking coins need a POW algorithm to get them started.

>> No.7026768

>>7026705
Yes, you can see how all POW coins have fair mining and distribution, kek. Ask how many miners does bitcoin have in US or Europe.

>> No.7026805

>>7026635
the real reason POW is still valid is because POS creates a closed system.

POW = decentralized
POS = Centralized

this is also why you will never see a proof of stake privacy coin. ( atleast not a good one )

>> No.7026830

>>7026805
also proof of work is backtested and works. for real

POS is only just getting "tested"
it might not even work

>> No.7026896

>>7026805
>POW = decentralized
tell that to the chink mining farms

>> No.7026944

>>7026896
Still more decentralized than POS. Mining is open to anyone, don't get mad be a use chinks can do it the most efficiently.

>> No.7026956

>>7026830
Kek. POS was working solution at least in 2013.

>>7026805
>t. 89iq
There is no difference between POW and POS. The only requirement they must satisfy - there must be completely random lottery, and winners have right to add new block to blockchain. That's it. Nothing more. But POW does it in completely retarded way by wasting shitton of energy and computin resources on this, and therefore doesn't allow random guy from internet to get into it, because all chinks will make up majority of mining power, just because hardware and electricity in chinkistan is cheaper. Is that your decentralisation?

>> No.7027094

>>7026944
>not using SKY that is neither POS or POW