Proof of Work being almost universally replaced when?

Proof of Work being almost universally replaced when?

Hopefully soon, probably never

I miss when GPUs were reasonably priced

Hopefully never. PoS makes no economic sense.

never, unless quantum computing cracks quantum-resistant algorithms. PoS is a great idea but since it's non-trivial and not as straightforward, simple, and beautiful as PoW I am skeptical about it.

just posted this in another thread, on regulation
have fun

>muh buttcorn are waste of electricity!!!!! duhuuuuu!!!!!!!!!!
it's fucking brainlets like the guy in OP's post and the rest of you that just don't fucking get it
BITCOIN TAKES ELECTRICITY TO BE MINED
YOU ACKNOWLEDGE THAT
ASIDE FROM INNOVATION, THERE IS SIMPLY NO WAY AROUND USING FUCKLOADS OF ELECTRICITY IF YOU WANT TO MINE BITCOIN
BITCOIN IS WORTH, *AT THE ABSOLUTE VERY LEAST, AT ANY GIVEN TIME,* THE COMPILED COSTS OF THE MOST EFFICIENT MEANS OF MINING IT
ONLY A FUCKING IDIOT MINER WOULD SELL THEIR BITCOIN FOR ANY LESS THAN THAT
THE ONLY WAY TO GET BITCOIN CHEAPER IS TO MAKE CHEAPER POWER, OR TO MAKE MORE EFFICIENT COMPUTERS TO MINE IT WITH
PROOF OF WORK IS GONNA START A FUCKING ARMS RACE IN ENERGY PRODUCTION AND COMPUTATIONAL POWER
THE COUNTRIES AND PRIVATE ENTERPRISE THAT UNDERSTAND THIS ARE GONNA HAVE MONEY COMING OUT OF THEIR EARS
THEY'RE GONNA HAVE GIANT TEAMS OF PEOPLE, FUNDED BY MINING OPERATIONS, LOOKING BEYOND EVEN FAILSAFE NUCLEAR FOR THE NEXT INNOVATION IN POWER PRODUCTION
THEY'RE GONNA BECOME BLOCKCHAIN CAPITALS OF THE WORLD
MEANWHILE, ALL THE STUPID BITCHES WHO WERE COMPLAINING THAT BITCOIN USES TOO MUCH POWER ARE GONNA BE FUCKING OVERLOADED WITH ALL THE POWER THAT THEY COULD EVER WANT, AND IT WILL ALL BE BECAUSE OF BITCOIN—THE THING THAT THEY WANTED A FUCKING CRACKDOWN ON
ADDITIONALLY, BECAUSE OF ASIC-RESISTANT COINS (and also asics), ALL THE GAYMERS WILL HAVE PILES UPON PILES OF CHEAP-AND-POWERFUL-AS-FUCK GRAPHICS CARDS, BECAUSE GPU MANUFACTURERS (OF WHICH WE SHALL SEE DOZENS UPON DOZENS OF NEW NAMES) WILL BE RACING AGAINST ONE-ANOTHER GLOBALLY TO MAKE THE NEXT, MOST EFFICIENT GPU, BECAUSE THE FINANCIAL INCENTIVE FROM MINING IS AS DIRECT AND WITHOUT MIDDLEMAN AS IT COULD POSSIBLY BE

oh and by "bitcoin" i mean bitcoin cash
plus other proof-of-work coins
we're gonna see proof-of-work coins being worth thousands of times what they're worth right now in just a few years

>better security that doesn't waste electricity and computational power 'doesn't make economic sense'

>quantum computing

Holy shit dude, this pic is so fucking old.
And I mean that in a positive way, fucking nostalgia.

Vegan treehuggers should be lined up against a wall

but yeah, Piece-of-shit fanboiis missed the pickaxe run

>PoW which invariably centralizes control of the network is a good thing

?

>Having gpu farms/asics spread across the globe somehow makes it more centralized than staking that literally needs huge amounts of coins therefore huge amounts of centralization
Yeah, /thread

>doesn't know ANYTHING about how fucking expensive ASICs are, especially the modern ones for bitcoin
>claims it's more decentralized than PoStake

dunning kruger effect

>being too poor to afford a 2k s9 or a 3k 7xgpu rig
You are too poor to make a difference in proof of stake anyway lmao, non-poorfags have 100k masternodes and they can pool them together to control over 51%

The same can't be said about BTC for instance, where some people control 90% of the coin, but not even close to 51% of the hashing power

This is just my humble mine, any poorfag can afford this

>exercise equipment in a mining room
M A D M A N
A
D
M
A
N

>he doesn't know about economies of scale
>he doesn't know all the serious miners are buying GPUs in massive amounts direct from Nvidia/AMD for way cheaper than what average joe has to pay.

I put 25k into mining gear in 2013.

So?
Centralization means 1 guy has more than 51%. If multiple parties can get their hands on cheap hashing power, that just contributes for it's spreading in multiple pools.
And pow or pos, it all comes down to buying power, it can become centralized either way, but one way just needs an open wallet, POW way needs huge infrastructure, making it downright impossible to control over 51 without getting raided by different interests.

Basically, you are all brainlets

It's FAR more expensive to buy 51% of a coin then 51% of the hashing power, especially as hashing power is so insanely split up between different coins

Literally all the money in the world could not buy you 51% of ETH.

Umm sweaty, poW ruins the environment! how are u going to live without oxygen???? ;)

>Literally all the money in the world could not buy you 51% of ETH.

Yeah, because vitalik already owns more than 51 and hes not selling lmao

Same thing for every piece-of-shit coin

>i do not know how supply and demand works
don't forget that ETH and BTC big holders are insanely religious cryptolibertarians who think it will replace fiat and take over the world

they
don't
fucking
sell

the biggest BTC holders actually hold MORE btc now after the december spike

>People only mentioning Proof of Stake as an alternative
What about fixed proof of space/storage with HDDs?

PoS is just obscured PoW. People will incur costs (which eventually translates into the expenditure of energy) up until the point where cost = profit. So if a PoS block will give $500 income, people will incur costs up to

>the biggest BTC holders actually hold MORE btc now after the december spike
You are literally explaining why pos is shit

the nice thing about having a
>1. actual dev team
>2. actual leader
>3. actual community
>4. not being bought out by mining corporations

is that ethereum can do _WHATEVER IT NEEDS TO IN ORDER TO ADAPT AND EVOLVE_

Nice just bought 100k HDDs

Vitalik has walled himself in with PoS and Ethereum will fail because of that.

Every time ETH forks, it becomes clearer and clearer that it is nothing like Bitcoin, its a centralized (P)iece (o)f (S)hit

So why are more ETH forks a negative for ETH, but more BTC forks not an issue?

>calling BTC airdrops forks
Probably a zclassic holder lmao