When Ethereum PoS is successful and works well, it will put big pressure on BTC to stop wasting exponential amounts of energy.
Will BTC adapt to a PoS algorithm? I'm sure Satoshi's vision wasn't for bitcoin to waste a substantial fraction of the Earth's energy.
So someone will fork BTC to a PoS algorithm. Those of the miners who didn't dump their rewards to fiat immediately will be able to stake their coins and receive rewards without paying huge electricity fees. So they will probably dump their gear on the BCH miners and switch to PoS.
The question is, will the world accept a PoS BTC fork as the true coin? Or will BCH do this huge step to avoid becoming even more obsolete?
Otherwise, I think there'll be a huge backlash against BTC (and BCH) if they continue to waste energy while ETH shows how it's done without. So either BTC will adapt PoS too or ETH will eventually become the market leader.
If done right, PoS can be more secure than PoW, because there are more way to tune the incentives and penalties.
Sure it's not trivial but there aren't any fundamental unsolvable problems.
In five years we'll be laughing about the folly of PoW.
Aaron Stewart
It will never happen. Theres too many rich and powerfull men who controll the entire btc mining market to ever let that happen.
Adam Hernandez
But how will they stop a fork that makes them obsolete? If miners are the only ones benefitting from PoW, why would exchanges and other big players need to play into their hands?
Jose Rodriguez
ethereum pos will be a pos. need 1500 ethereum to stake. fuck that. gas is shit, can't recover funds, normies hate the private keys, EOS will flip it nigger.
Christopher Wilson
Mining profitably will plateau and eventually be almost totally fee based.
Isaiah Wilson
Just buy NEO
Daniel Evans
PoS rewards the rich for doing nothing but hoarding money. this creates oligarchy, no wonder slavshit autist wants it. the Nakamoto proof of work consensus is the only decentralized mechanism
Angel Morris
they don't, they keep the name 'bitcoin' which is everything
Asher Gutierrez
They don't get to decide that. Mostly it'll be decided by the exchanges, which of the coins will correspond to the BTC ticker.
Cooper Kelly
PoW is important because it is continual investment in the network. POS is literally the rich becoming richer because they are rich.
Nathaniel Turner
No, trying to get around PoW is like trying to cheat the laws of the universe.
PoS is dumb, so is the rest.
Michael Bailey
At least for Ethereum, staking is no magical "get rick quick" scheme, the estimated staking rewards are around 5% per year. It'll be a decent long-term investment but putting the money in stocks would provide higher ROI. So I don't think this criticism is valid as a criticism of PoS since it's no different from other investments.
I don't get your point. PoW was the best solution they had 10 years ago, but it's not a law of the universe. Whether people invest real money into ASIC hardware and electricity costs, or into stakes, makes no real difference.
Actually one difference is that with PoW, it's mostly the electricity companies and hardware manufacturers that get rich, whereas with PoS it's the people with an actual stake in the coin.
Jayden Diaz
PoS defies the basic law of nature. You cannot have something valuable without giving up something else that is valuable. Exchanging resources and energy for network security and processing is logical. Achieving security and processing without expending anything is stupid on a fundamental level.
Jaxson Myers
Rootstock coin.
Do your god damn fucking own fucking god damned research.
The btc whales are already in on it, they literally payed for it to be created.
Dyor dyor dyor dyor dyor dyor
Easton Moore
But you are expending capital by locking your stake, so you cannot use that capital for other investments. Basically you're expending the ROI you would've had from the stake had you not put it up.
What does wasting energy accomplish, really?
Caleb Moore
>Rootstock coin What. That's just smart contracts for bitcoin and still PoW. Has nothing to do with PoS.
Adrian Wilson
Unfortunately ethereum development speed is abysmal. Full PoS is not happening until 2020. Hybrid PoS reduces rewards by 80% only after a year, which realistically means end of 2019. Ethereum developers have too much money and don't give a shit anymore. They treat it as a hobby open source project.
Connor Wilson
A mining rig is substantially harder than downloading a client and setting up a node. For god sake, you can even join a staking pool with some clicks of a button. Are you truly this delusional?
PoS Bitcoin makes no sense. At this point, its whole value proposition is to be the cryptocurrency of reference. If you want PoS, you buy ETH. If you want PoW, you buy BTC. Simple.
Charles Butler
If BTC starts significantly losing market share to ETH because of PoS or PoW backlash, you can believe that sucker will move.
