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A comment on Nvidia announces mining GPUs, cuts the hash rate of RTX-3060 in half. Parent comment

Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by shawnz on Thursday February 18, 2021 @10:45AM (#26181157)
They are correct that proof-of-stake doesn't solve the initial wealth distribution problem. ADA and XTZ solve it by pre-mining the coins.

Ethereum is instead solving it by having an initial proof-of-work period and then moving to proof-of-stake after some amount of mining and wealth distribution has already happened.

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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by jki275 on Thursday February 18, 2021 @03:37PM (#26185169)
That's not what they said. They said POS can't distribute coins, which is not accurate.

ADA and XTZ did pre-mine their initial distribution, and now they distribute coins through stake rewards.

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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by tromp on Thursday February 18, 2021 @04:26PM (#26185830)
That's not distribution. That's just letting every owner maintain their share of the pie by staking.
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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by jki275 on Thursday February 18, 2021 @05:13PM (#26186447)
You can argue whatever you want, it's distributing coins to the people who secure the network.
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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by haimez on Thursday February 18, 2021 @07:33PM (#26187884)
So, PoW then.
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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by Dylan16807 on Thursday February 18, 2021 @08:10PM (#26188195)
They secure the network by showing up and participating with minimal calculation. I don't think that falls under proof of work. Even if it does, it's not the terminology that matters. What matters is that there is no reward for burning cycles.
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Re:Nvidia announces mining GPUs, cuts the hash rate of RTX-3... by jki275 on Thursday February 18, 2021 @08:28PM (#26188336)
It’s not POW. No need for massive amounts of processing power. Read IOHK’s Ouroboros paper or Breitman’s Tezos paper.
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