RE: Daily Crypto Markets Live Blog: A Lot of Talk About The Merge (08/27/22)

[rzc24-nftbbg]

Someone negative about PoS:

I have a very dim view of proof of stake in general because it is the “rich get richer” for no work other than being rich and the rich also get control of the system. That's the whole thing we've been trying to get away from.

Source

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Comments

[taskmaster4450le]

Of course, isnt that the case with Bitcoin. Try mining on a laptop these days. Bitcoin is run by 5 or 6 mining farms.

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[rzc24-nftbbg]

It reminds me of one paragraph in a white paper on a young blockchain project:

The ease of mining Bitcoin and the subsequent rise of Bitcoin mining farms quickly produced a massive centralization of production power and wealth in Bitcoin's network. To provide some context, 87% of all Bitcoins are now owned by 1% of their network. The centralization of power in Bitcoin's network makes it very difficult and expensive for the average person.

[taskmaster4450le]

There is a lot to what is being expressed.

It is a challenge to get distribution right.

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[rzc24-nftbbg]

Yes, and that's what new names out there are claiming to do right.