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Doing it wrong?
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Stories of wealthy outfits moving aggressively into mining crypto-currencies keep popping up:

Frank Giustra, Hive Blockchain Technologies

John McAfee, MGT Capital

Doug Casey "I'm getting involved in theses cryptocurrencies on several levels. Including public mining companies..."

GMO Internet Group

There are at least 2 major problems with cryptocurrency mining. The first is that it is extremely wasteful of resources ie. electricity and hardware. The second is that it creates a potentially adversarial dichotomy between the users of the network and the owners of the network.

Proof of stake (POS) is going to be the preferred way of securing block chains in the future because it addresses these problems and is also cheaper. Proof of work (POW) is old tech. Investing heavily in POW at this time is a mistake. Better returns will be had by acquiring coins, like ether, that can be used for staking.

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Autistic Stoner

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7 years ago