Quote:
Originally Posted by kazbalah
You are right, although they will find ways to solve this problem.
|
There are
problems with bitcoin, but that was not one of them.
Quote:
Originally Posted by kazbalah
I know some alt coins, positron coin for example use POS - Proof of stake, instead of POW - Proof of work to secure the network.
People hold the coins in the wallet, and keep the wallet open. That secures the network and it uses very little power. Some people contest its security, but time will tell.
|
Electricity costs of mining have nothing to do with
the reason bitcoin is limited in how many transactions can take place per unit of time. Proof of stake would not alleviate the perceived problem, and
time has told.
Quote:
Originally Posted by kazbalah
Its a smart way to do it though, i am currently "staking" positron coin, i am getting 9% interest per year paid every couple of days and its compounded.
I have 1 machine running 10 different wallets, so im earning daily payments from many different alt coins.
So the possibilities are endless  |
There's pretty much
the one possibility. Here's a
webchat link to the IRC channel referenced in a few of my links.