Spet0789 wrote:
I said Bitcoin is a disaster for the planet. Any PoW crypto is. Other PoS crypto not so. There are many cryptocurrencies that do a much better job than Bitcoin.
So many things to talk about in that short statement!
There are better vegetables than broccoli!
Meaningless statement, as meaningless as crypto currencies doing a better job than XYZ example, unless you define how and what they do.
Right.....
So I'm going to make a few assumptions about your statement that may be incorrect. If you dispute them say so.
1) that you are talking a crypto currency is intended to be used as a form of money, not as a contract for example.
2) as it is intended to be money, just like fiat cash, effort/cost must be spent to prevent counterfeiting or arguably debasement.
3) that the only thing that counts for you is the costs/energy use of your money. Hence gold would be out because of costs and environmental impact.
OK, so why proof of work? Well, to date we have found no method as good at achieving security in a decentralized manner for digital currency.
Sure, some other crypto use proof of stake. Now remind me, how does that work? Well you grant validation/censorship and honesty to a small group who hold large amounts of the currency, by virtue of them holding a large amount. That is why it is called "proof of stake".
Proof of work applies a cost to validation/censorship or dishonesty.
So, your definition of "better" is the "money" that uses the least energy rather than is the most secure by nature of it's decentralization.
Dare I hazard a guess that you don't like your vegetables? Sorry I mean that you don't like any crypto at all.
Please prove me wrong and state what the PoS crypto is that you have chosen to buy.
Ps, for those lost on the difference in the TLA's (three letter acronyms, PoW and PoS) or who didn't know what they meant, here is a link to a good explanation, the pro's and con's of each. One could wish that Spet had defined the terms or provided a link.
https://www.businessinsider.com/persona ... ?r=US&IR=T