You are viewing a single comment's thread from:
RE: Bitcoin Mining Continues Expansion Throughout Canada
mining will continue to expand until coins or tokens completely ditch the system.
I feel that POW is an unfair system that benefit people that live in areas with a lower electricity cost. It also gives crypto a bad name because of all the fossile fuel we are using.
in my eyes POS or another kind of staking system is the best way forward for crypto
Thanks for your comment - you bring forth some interesting discussions.
DPOS is what steem uses...and it's also what EOS will be using. It's a hybrid model which is heavily based on POS with a small percentage of the mining being POW.
I've often had questions about the POW model for bitcoin and others....i'm not convinced that it is "bad" per se.
it might not be bad right now. however in the future when more and more people are using it for new coins. or large investors in bitcoin mining puts up a ton of big rigs we will feel it.
not in that more coins gets mined no. we will feel it because the media will be all over how much of energy waste the crypto space is. (they already started doing that) and as we do not strictly need POW I feel like we should move away from that system entirely (this is my opinion of course)
thank you for the reply :)