But it still doesn't work. What is to stop a super wealthy entity, or group, from taking the majority of the hashrate and proving that PoW doesn't work? PoW is inherently centralized, and it's only store of value is how it wastes electricity. I can't wait for PoW to go away.
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The thing is that I have never seen a good scientific argument suggesting that PoW works e.g. leads to decentralization. It seems to be assumed since the beginning. That's silly.
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How is that different from PoS, where you pay an ever more centralising set increasing amounts to not attack you, with the main difference being that these oligarchs have less selling pressure than miners to cover operational costs?
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My miner runs in Iceland and Atlanta (USA). But I pool with antpool. According to this article my miners are in China.
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$NANO does it right.
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"an ever more centralizing set " That can't possibly be true because we started with one miner, then two, and so on. Also, 'pools' are collections of individuals.
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Misrepresent the power of mining pools and the incentives at play is the bread and butter of low-effort, bad faith PoW critique. Check list:
Pools = Miners
51% = Certain, permanent destruction
X miners control Y percent of total hash power (!!)
Pie charts
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Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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Power laws are natural. It's all about picking the power law you want.
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Looks it's a great innovation. But no one should invest in
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Čini se da učitavanje traje već neko vrijeme.
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