Bitcoin : Is PoW more fair than PoS?
I was thinking about all the accusations that Bitmain is a monopoly since they make a huge amount of the BCH/BTC mining hardware and mine with a portion of it.
The thing is that they have to constantly get better. Design new chips, new mining facilities and faster pools. If they fall behind making faster chips, they could get easily replaced as a hardware maker and lose a lot of money on inventory and their current mining. It seems like for now they’re ahead, but this can quickly change in a year or two.
My understand of PoS is that it’s really a king makers game. If I held 1mm ETH, all I have to do is pledge it and run an honest node. From there it’s all cash, and I really can’t be replaced since I have the holdings.
I know this is probably a simplified view of things, but would be curious to hear others thoughts on the “fairness” of the competing systems.
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