what happens though when crypto is preferred which is not based on proof of work? POW seems very inefficient and not sustainable to me.
You are viewing a single comment's thread from:
what happens though when crypto is preferred which is not based on proof of work? POW seems very inefficient and not sustainable to me.
The proof systems are an ever changing economy. Gambling on such hardware is in fact a gamble on HOW LONG, not forever. That is 100% for certain. Proof of work is still the most trusted method of cryptocurrency creation, but quickly catching up is the proof of stake concept - and still off in the shadows a still better method (IMO) of proof of burn systems.
Much like 'what cryptocurrency will truly be "the one" if any', I think the same can be said of proofing.... only time and gamble will tell.
yes, I agree. I am just not sure if AMD and NVIDIA may consider this trend to go on for much further than it is actually taking place. Already electricity consumption of bitcoin is equivalent to a small country after all.
It doesn't matter whether they think it or not. What matters is if people keep creating crypto that require it (many have it as the initial phase in order to get their blockchain distributed and secured quickly).
When you're mining you have to understand what phase each crypto is in regarding EPOCH, Difficulty curve, POW>POS timings etc.
It's not point at one crypto and hope it lasts forever thing - there are many GPU mined cryptos and more coming, so you just need to have a bigger strategy and understand that watching the landscape and adapting to what's coming is part of the game.