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RE: Crypto Miners Are Being Destroyed

in LeoFinance2 years ago

I think the mining landscape is about to completely get knocked off it's rocker when the ETH 2.0 POS (and I mean the other POS, not proof of stake) merge happens, lol. I mean they never really respected their mining community anyway, but for those of use who mine with GPUs, we are pretty much out of options on decent chains. All of the other worthy chains are all ASIC chains at this point except Monero, but you have to have a monster CPU to come close to making a profit on that these days.

It's really sad because that is what really drew me into the space. I was a hardware junkie and loved the fact that I could just put my equipment to work. Proof of stake systems are so easily gamed by the bigger players that it really defeats the purpose entirely. DPoS is alright, but has it's drawbacks as well. I think the whole politics of it all kills the beauty of the system. That was was great about mining. I didn't have to give my opinions online or have to try and prove my worth, like with DPoS chains like Hive and all of the Cosmos chains. Being a validator in that space with all the governance BS that happens there has almost turned me off from the space entirely other than Hive and BTC. But I digress...

I am in the camp that the climate change narrative is complete and utter BS and people screaming that as a reason to go PoS, is really just wrong on so many levels. You really give up decentralization as a whole. We see this in the Cosmos ecosystems when people just delegate to the top 10 validators because they don't know why they are delegating to them, they just stake with them because they are at the top. This causes HUGE issues in an ecosystem.

Instead, let the nerds just hook up computers and support blockchains, that's why I love PoW. That and it actually backs crypto with real world assets like hardware and power... I could keep going, but then it would be a whole other post, lol