RE: Privacy coin comparisons and a real gem in the space after Pivx and Monero: Xuez
POS is indeed a better concept than POW.
POW is not energy efficient
Your claim, POS is not decentralized does not make any sense for the following reason:
There are more than 200 countries, where ASICs/GPUs are not produced and importing such devices costs a lot of money due to import and export tax! So, your claim that GPU mining is decentralized is completely first world propaganda where GPUs are easily available! Not even all first world countries have easy access to GPUs. But again, of course GPU mining is more decentralized compared to ASICs.
But I agree that Monero has one of the finest security. I even promoted Monero and Pivx but at the same time, Monero like other privacy coins like zcash or zcoin does not have a decentralized masternode governance system in place as off now. Community has no right to take any decision. If they don't set that up, its equivalent to believing central banks! I've no doubt that the team working on the monero or zcash project are there with good intentions but you never know the future!
You're correct, PoW is not energy efficient; that's why there are solar powered Bitcoin miners being launched into orbit 😎
Your dancing around my point; most smart refrigerators DO NOT have GPUs. Profitable GPU mining is a side affect or aspect but Not the entire picture. The point is it can be mined on virtually ANYTHING... including a damaged phone ( I gave friends with profitable Android Farms mining Monero and electroneum with bulk-purchased damaged Samsungs).
You are indeed correct when it comes to governance, but don't forget both extremes, with sides of the pendulum; no governance can lead to coin death or ASIC takeovers. Community intervention is the only way forward and if the community disagrees with the devs well... even without he node, we can switch to forked coins like Monero Original 😒 or Wownero 😂
To stake a coin you FIRST have to own it or have fiat to purchase it, I'm sorry but make all the points you want; PoW mined coins are better for global and third world adoption where people do not have disposable income to 'stake'.
Cheers 🍻
So, there's something we study/research on resource theory in quantum information theory. Any protocol which uses more resources is bad. If you have no idea about these things, there's no point arguing. We will talk after 5 years. Just a point, forget fridge, 60% of world's population is living in the dark with no electricity. Of course solar panels will bring them electricity but you add GPU/ASIC mining usage with that then panel price won't be within the reach of them (simple supply and demand). Only 2-3 countries produce solar panels. POS protocol came with the aim to remove these issues and you are now arguing POW is better :D. You must be having good time with your mining rigs (So do I)! Enjoy!
There are several banks in the world. If community cann't keep faith in Monero, there's no doubt that people will come up with several other better versions of monero just like banks. But if the working principles are the same for all these coin with a slight modification in the tech/application, then that's not decentralization. That's what I meant. Surely, a world with several banks is more decentralized than a world with just a single bank!
With Xuez or Pivx, you get a coin run by the community. And this simple change in the working principle matters a lot in the long run. I hope, you get my point, my friend!
But anyway, I like monero and Pivx(not zcash or zcoin ). The aim of this post is to introduce a new contender in the space.
There's nothing wrong with a healthy debate. I'm all for the PoW fun; tuning rigs as a hobby and for profit has me (and many of my peers) building barebones machines like it's the 90's again. PoS takes much of that away,, much of the technology replaced by monetary algorithms.
I may be biased but, let's agree to disagree on this one.
Bitcoin ... the shoe fits, but has lasted longer than 5yrs and likely will another. Let's talk then indeed.
Thanks for elaborating on my point; why some in the community choose to endorse the forks.
Personally, I think we need a purge. There are way too many coins and if that 'simple change' is all there is to these new competitors, then it likely won't be ground breaking.
Cheers