Very good information
BTG is not a very good cryptocurrencie for the moment but the idea to mine with GPU was great
It's a shame
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Very good information
BTG is not a very good cryptocurrencie for the moment but the idea to mine with GPU was great
It's a shame
The idea to mine with GPU is horrifically poor. Asics are literally millions of times more efficient at the task. The resources wasted by the competition for bitcoin mining is consuming small countries worth of electricity. You think it's a good idea to increase that waste a thousandfold?
Yeah, people are not aware of the realities behind bitcoin or bitcoin gold.
Longer the blockchain becomes, higher the difficulty increases and that sums up to need for more powerful mining rigs. Only way to solve that is to start from fresh and do what Bitcore (BTX) did. What Bitcore did was bad for people with little amount of coins, but it will never be good for them when coin uses PoS instead of PoW. It doesn't require to be a rocket scientist to know that PoW only works when the coin is new and difficulty is still low.
Difficulty is according to mining competition, not the length of the blockchain. PoW is wasteful, any time there's competition. There's no getting around it.
I was oversimplifying... As in having more miners means faster increase in blockchain length as they are essentially mining blocks containing their own previous mining profits.
We all have read stories about very long alternative blockchains due to having too many miners and mining pools getting out of sync for extended period of time.
PoS is more wasteful for new users as it requires to have some coins in the first place, PoW doesn't have that requirement. What we need is third option that doesn't have the cons of the two existing ones.