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RE: Bitcoin United (BTC-U) offers 3 second Confirmations and Massive Throughput
This is an interesting and exciting potential PR win.
I would like to here more about the switch to DPoS from PoW. This is a pretty huge fundamental change that makes this not really bitcoin, no? Isn't it a little simplistic to say that PoW "serves the miners", since the intention was to simply create an incentive to secure the network?
Satoshi's intention has been hijacked by less than a dozen big mining companies. Since mining wastes hundreds of millions annually and is not needed, why are the leaders of bitcoin still using it?
Well, I guess the answer would be some people think PoW is more secure (or more something else) than PoS.
I'm not endorsing either view, but it's the only answer I know for your question.
Bitcoins electricity consumption and miner fees are certainly tiny compared to the expenses and salary of all the parasitic banks, no?