Community Trust ScoreVerified
Statement: If you own 51% of mining activity you can also attack a PoW network!
Response: If you had 51% of mining activity, why would you want to attack the network? You’d be hurting your own-self at that point.
Statement Supporting Theory that PoW and PoS are Same: Also, In PoW you need 51% computational power to scam (and ruin) the coin. In PoS 51% of stake to do the same thing. I do not see the point. Both scale with market cap.
PoW has its benefits as well as PoS. There is more flexibility in PoS. PoW is more decentralized. PoW supports more freedom. But freedom cannot be static. PoS supports dynamic freedom though still gatekept.
PoW Superiority Over PoS: PoW is the only known way to digitize real world value (energy) without trusting someone. PoS distributes wealth according to the founder’s wish. Enough of a stake and you get to control the network. I think PoS has its place for some applications, but never as hard money.
Both PoW and PoS Can Be Exploited: It’s neither true nor false. Not true because both POW and POS technically allow wealthy dishonest actors to take over the network. According to the size it’s more or less expensive. Digitizing energy is a long debate but with the energy crisis energy should used in another way.
Argument for PoW over PoS: Perhaps the most important argument for PoW over PoS is that miners are generally blockchain professionals who have some idea of the impacts of certain decisions to be made on the blockchain. Stake holders can be any idiot with too much money and may not have any clue.
PoW and Prejudice: Some say PoW gives everyone equal opportunity without any prejudice. However, In POW more mining equipment gives you a bigger stake, in POS more tokens give you a bigger stake. Really what’s the difference? Each requires more of an investment the bigger the network stake. Just never understood why tons of machines have to be used to solve a stupid puzzle with increasing difficulty, when they could be used to solve distributed computing problems.
With PoW chip manufacturers control the network. Nearly everyone has access to electricity but nearly None has access to latest ASIC. Talk about decentralization with that kind of barrier for entry.
PoW distributes PoWer over the network to firms large enough to build acre sized warehouses in places with cheap energy.
Conclusion: As an investor, there’s no need to choose between stocks, real estates, gold, BTC or altcoins. You can always have all of them in your portfolio – each diversified according to its own risks/rewards factor. PoW and PoS have their own pros and cons. No need to be one or the other.
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