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A comment on Mining Bitcoin with pencil and paper: 0.67 hashes per day (2014). Parent comment

Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by kevingadd on Monday February 15, 2021 @04:58PM (#26148046)
Point to a real production cryptocurrency using proof-of-stake right now. All the big ones are still using PoW and we're what, over a decade in to the history of cryptocurrency?

Once even one of the major chains is on Proof of Stake or Proof of Space or something we can talk about how associating cryptocurrency with PoW is unfair. AFAIK the closest we've come is that Ethereum people started experimenting with proof of stake in December? Things like that are progress but don't do anything to put a dent into the massive electricity and resource squeezes being created by cryptocurrencies.

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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by djamrozik on Monday February 15, 2021 @05:28PM (#26148403)
Eth 2.0 will be fully PoS (released fully in the next year or two, but staking is possible now).

Cardano, Cosmos, Polkadot are a few protocols that are PoS but are still very early in their development.

> "we're what, over a decade in to the history of cryptocurrency"

I would argue that's not long at all. The internet was technically invented in the 1960s (ARPANET) and TCP/IP went global in the early 1980s. Took a while for things to get to where we are now.

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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by willbudd on Monday February 15, 2021 @05:08PM (#26148148)
Ripple, Nxt, etc have been around since 2012-ish or earlier. Ancient technology, basically.
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by kevingadd on Monday February 15, 2021 @05:14PM (#26148218)
Wasn't aware of those ones, thanks. It's a shame they're not even in the top 100 by volume.
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by saltyfamiliar on Monday February 15, 2021 @05:28PM (#26148399)
Ripple (XRP) has the 5th highest market cap and volume of any cryptocurrency, but it's very unpopular on a cultural level because it's basically centralized.
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by kevingadd on Monday February 15, 2021 @05:36PM (#26148491)
That's fascinating, I ctrl-f'd for Ripple on a couple charts since I hadn't heard of it and it wasn't on them. Do crypto sites omit it because it's unpopular or viewed as not a blockchain due to being centralized?
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by Nition on Monday February 15, 2021 @06:46PM (#26149226)
It's near the top on all of them, but you need to Ctrl-F "XRP".
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by cardanome on Monday February 15, 2021 @05:25PM (#26148355)
Ripple has still the fifth biggest market cap.

If you look at the five biggest coins by market cap (excluding USDT which is just digital Dollar) then three of them use proof of stake, Cardano, Polkadato and Ripple. Ethereum is actively transitioning to proof of stake.

Bitcoin is the ONLY outlier. Though also the biggest market.

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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by galangalalgol on Monday February 15, 2021 @05:51PM (#26148668)
I'm old and clueless. Is proof of stake related to anonymity in any way? I read something about dealers in contraband switching from btc to monero among others for that reason.
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by hulahoof on Monday February 15, 2021 @09:11PM (#26150148)
No, anonymity for the users is generally separate from the consensus algorithm. XMR, at least when I was mining it many years ago, was more about preventing leakage of wallet, funds info to every person you transacted with - and is probably the gold standard in anonymous transactions - which is why it's price is so stable.
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by Geee on Tuesday February 16, 2021 @08:01AM (#26153439)
Ripple is not proof-of-stake. It uses traditional consensus with trusted validators. It's basically a fiat currency that is run by a corporation to benefit them.
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by ROARosen on Monday February 15, 2021 @05:36PM (#26148490)
Ripple (aka XRP) is number 5
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by wmf on Monday February 15, 2021 @05:58PM (#26148737)
Avalanche isn't that big yet but it's in production and running DeFi.
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by intotheabyss on Monday February 15, 2021 @07:46PM (#26149683)
They also recently had network issues for three days
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Re:Mining Bitcoin with pencil and paper: 0.67 hashes per day... by xur17 on Tuesday February 16, 2021 @12:21AM (#26151206)
Tezos uses proof-of-stake and launched a little over 2 years ago.
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