create account

RE: Is mining on the way out? by benadapt

View this thread on: hive.blogpeakd.comecency.com

Viewing a response to: @chbartist/is-mining-on-the-way-out

· @benadapt ·
Great discussion @chbartist.

In my opinion, as you alluded to, proof-of-work will always be central to the Bitcoin network as it is the only way to maintain true censorship resistance.

Now that the SEC has unofficially declared Ethereum “not a security”, even though it was initially sold as a security, I would be surprised if it moved to proof-of-stake because this will likely reduce it's decentralisation and put it back in the regulators' firing line.

That being said, the planet can probably only support one proof-of-work cryptocurrency so we'll have to see what happens. On a side note, Bitcoin mining will likely result in increased use of renewable energy and efficiency (to increase profitability) so this may change things.

Like you say, though, proof-of-stake works well for networks like the Steem network and those that don't face as much pressure from governments and regulators.
👍  , ,
properties (23)
authorbenadapt
permlinkre-chbartist-is-mining-on-the-way-out-20180616t193412497z
categorycryptocurrency
json_metadata{"tags":["cryptocurrency"],"users":["chbartist"],"app":"steemit/0.1"}
created2018-06-16 19:34:12
last_update2018-06-16 19:34:12
depth1
children0
last_payout2018-06-23 19:34:12
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length899
author_reputation37,270,546,949,810
root_title"Is mining on the way out?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id61,014,613
net_rshares2,997,054,487
author_curate_reward""
vote details (3)