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re: Official CryptoTalk Thread
Posted on 5/12/21 at 10:07 pm to TigerTatorTots
Posted on 5/12/21 at 10:07 pm to TigerTatorTots
Remember when ETH couldn’t break $2k
1
Posted on 5/12/21 at 10:08 pm to rocket31
Pretty much all the favorite alts discussed in this thread are PoS, right?
Posted on 5/12/21 at 10:10 pm to rocket31
nah i don't care about the environmental aspect of it, but i do know it uses an absurd amount of power to keep the network running
and
to Elon and Tesla "caring" about the power it uses when their cars use the same energy sources
and
to Elon and Tesla "caring" about the power it uses when their cars use the same energy sourcesPosted on 5/12/21 at 10:15 pm to TigerTatorTots
there's been multiple dips since the last time i've posted here
Posted on 5/12/21 at 10:16 pm to LSUJuice
eth isn't currently PoS but it's switching to it and that's going to be a very powerful meme moving forward
so my bag of Ethereum has now increased significantly
so my bag of Ethereum has now increased significantly
Posted on 5/12/21 at 10:23 pm to jimbeam
About to dunk on that 0.08 ratio
Posted on 5/12/21 at 10:25 pm to DVinBR
quote:We've been in a sideways pattern for 2 months.
there's been multiple dips since the last time i've posted here
Posted on 5/12/21 at 10:25 pm to TigerTatorTots
I swapped some more at 0.078. I’m done until 0.1 or so
Posted on 5/12/21 at 10:37 pm to jimbeam
Pretty crazy in October the total crypto cap was in the 300s billion and today one tweet dropped the cap around 300 billion
Posted on 5/12/21 at 10:47 pm to rocket31
What the nuts is PoS and PoW
Posted on 5/12/21 at 10:57 pm to AllDayEveryDay
Proof of stake versus proof of work
They are different methods in which blocks are validated on a black chain and consensus is reached between everyone on the network
Proof of work involves miners competing to find a special number called a nonce such that when this number is appended to a block of transactions the resultant hash after passing this data through SHA256 is sufficiently small. This requires a bad actor to have 51% of the computational power of the entire network to statistically have a good chance at being able to validate a fraudulent block
Proof of stake involves people putting their currency in staking pools. The pools are selected based on a random number generator and the more currency is staked the more likely you are to be selected. The selected node gets to validate the block. This means you need 51% of the currency in order to have a realistic chance to validate a fraudulent block. This method uses a lot less energy than proof of work.
They are different methods in which blocks are validated on a black chain and consensus is reached between everyone on the network
Proof of work involves miners competing to find a special number called a nonce such that when this number is appended to a block of transactions the resultant hash after passing this data through SHA256 is sufficiently small. This requires a bad actor to have 51% of the computational power of the entire network to statistically have a good chance at being able to validate a fraudulent block
Proof of stake involves people putting their currency in staking pools. The pools are selected based on a random number generator and the more currency is staked the more likely you are to be selected. The selected node gets to validate the block. This means you need 51% of the currency in order to have a realistic chance to validate a fraudulent block. This method uses a lot less energy than proof of work.
Posted on 5/12/21 at 11:02 pm to maclauer
he could have just taken the bitcoin payment option away too. there was no need for any announcement or explanation.
so not only has he turned crypto into a dog themed circus but now he's crashed it unnecessarily.
this is worse than McAfee
so not only has he turned crypto into a dog themed circus but now he's crashed it unnecessarily.
this is worse than McAfee
Posted on 5/12/21 at 11:05 pm to Ross
yea and with PoS eventually big exchanges will have influence over the coin
binance could eventually become even more powerful
binance could eventually become even more powerful
Posted on 5/12/21 at 11:11 pm to rocket31
Proof of stake really depends on people choosing to stake with as many independent pools as possible to keep things decentralized. I know a cap is usually placed on how much of a chance a node is selected based on how much currency they have. This will mean that more pools will pop up, but nothing stops these different pools from having a common owner.
Posted on 5/12/21 at 11:38 pm to Ross
yea. but centralized exchanges will definitely be a regulatory risk most if not all PoS chains will face as the lion share of supply will be stacked there
you actually need infrastructure to attack pow
you actually need infrastructure to attack pow
Posted on 5/12/21 at 11:50 pm to bayoubengals88
quote:
son of a bitch continues to soar
quote:
4/30/17
he was talking about eth.I wonder what it was back then and what it'd be worth now. 
Posted on 5/13/21 at 12:46 am to Chucktown_Badger
Just bought 25 million coins of Shiba Inu. Multi millionaire if it gets to .10
Posted on 5/13/21 at 6:00 am to jlu03
Damn, ada didn't even budge...
New ath...
New ath...
This post was edited on 5/13/21 at 6:17 am
Posted on 5/13/21 at 6:21 am to rocket31
This is right. POW is multiple times more secure than POS.
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