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replied 2203d
Its basically people who have lot of money and they don't need to do any work, just hold most amount of coins, being able to dictate all the rules. That's what PoS is about.
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replied 2203d
Hmmm, sounds oddly similar to the current situation with BCHSV POW.
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replied 2203d
Except in POW you have constantly invest to keep up and be profitable. In POS you don't, and that is a major difference (and drawback with POS AFAIK).
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replied 2203d
How is it similar? BCH SV are miners who have to do the work and keep doing the work of mining, there is nothing PoS there. Them using their money to mine BCH SV is benefitical for us.
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replied 2203d
Wrong. BCH SV is a centralization of a few miners under the influence of a lunatic professor and a billionaire. I think it's similar to what you said about PoS.
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replied 2203d
PoS doesn't require any work.. PoW does. There is a massive difference there.
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replied 2203d
Ok, but your other point was that people who have lot of money are able to dictate all the rules with PoS. This seems to be the case with BCH SV. These are your words, read back.
bchbtch
replied 2202d
WIth POW your money is used up continuously, with POS your money earns you more at a rate proportional to the size of your initial investment/size of network.
replied 2202d
There is a difference in just having lot of money & using this to have power to make decisions, This is PoS based system. When you have to do the work instead, its not the same thing.
replied 2203d
No, its not centralisation. One can create other shitcoins or split the chain but needs to fight it out with SV miners, by putting in their own money where their mouth is & doing PoW
replied 2203d
One entity owning 70%+ of the hashrate is not centralization? What happens after the fork? One entity has 100% hashrate. This is like fiat. An entity has the power to print money.
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Sk8eM dUb
replied 2203d
You clearly never read the white paper.
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RufusYoakam
replied 2202d
One entity doesn't own 70% of the hash rate.
replied 2202d
Do you need a source? Google?
replied 2202d
Can any miner prevent others from mining also? They can't. That's why there is no centralisation. Central banks are because they are only entity that have ability to create money.
En Fri Mand
replied 2202d
The person with the power can can orphan new miners blocks.
replied 2202d
With central banks, they are only entity having this power, no one else has it. In Bitcoin this is not the case. That's why Bitcoin isn't centralised even if only 1 person is mining it
replied 2202d
Of it is only a couple pools mining CSW's ShitVision coin then it is centralised. BSV can fork off and take its mining power. BCH doesnt need them.
replied 2202d
You still don't understand what centralisation is. It is power of some entity to prevent others doing what they are doing, its having one rule for one entity & another rule for others
replied 2202d
No that is not what centralisation is. Centralisation is having majority hash under one miner/mining pool.
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replied 2202d
Nope, that is not centralisation. As I said, you don't understand this at all.
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replied 2202d
they will never understand...
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replied 2203d
Maybe so, but the other side is adding opt codes not needed and side chains like wormhole.
replied 2203d
The other side is not "adding Wormhole". Wormhole is a layer on top. Has nothing to do with consensus protocol.
replied 2203d
Wormhole is destroying good money (BCH) which is not good, it doesn't scale Bitcoin, it helps Jihan make profits at the expense of Bitcoin BCH.
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