bitcoin never sleeps, but we still need to.
i know it can be hard not to look at BTC price during the day, afternoon, evenings, heck even to wake up just to look at the price, but everyone needs a break.
disconnect for digital for a while
answering a question asked by the community
https://read.cash/@Bitcoincashtrue/why-do-they-invest-so-much-in-bitcoin-cash-80247dde
I remained a part of the BCH project after the fork because I believe in Satoshi's original vision, the creation of a P2P payment system. BTC has long given up on this goal, and while BCH has not, it is also not the best technology that currently exists. I stuck with BCH because it was the better technology, and I'm moving on because I no longer think it is.
Now everyone talks about DYOR - Do Your Own Research, and that seems like a really scary thing when you see all the different crypto projects out there. It's difficult to look into each project in depth and one can quickly face information overload.
I think one of the biggest difference between some of the older projects and the emerging ones is the Proof of Work (POW) vs Proof of Stake (POS) models, and if anyone is feeling a little lost doing your own research on the technology, I would start by reading up about these two. I won't shill my favorite coins because I know so many people just come here to pump and dump their crap and it's hard enough to know who to trust. I will explain very briefly so this doesn't turn into a wall of text, but I think knowing the distinction between these two will be very helpful for anyone trying to choose good projects:
Proof of work: The older model where miners use computing power to try to solve a cryptographic puzzle before others. Whoever solves it confirms that block in the chain, and receives a reward. This is very expensive since miners need to spend money on electricity and hardware to mine new blocks. The electricity consumed in order to create cryptos today could power several countries. I feel this is really wasteful, outdated tech, but also puts the ability to mine only into the hands of those who can afford to buy specialized gear and pay for the electricity. Lots of money and energy is being spent simply on creating virtual coins. Personally I hope that our generation will turn the world greener, so it's unfortunate to use such a wasteful system.
Proof of Stake: In this system, instead of mining with hardware, the process is simulated by using an algorithm designed for this. Instead of making miners compete with computing power, the "winner" is selected randomly from people who hold a stake in (own) the crypto. This means that mining doesn't waste a bunch of computing power, and anyone can do it and get rewards, not by mining, but simply by owning and hodling your crypto. That's what's referred to as staking. Once you fund your wallet for your POS crypto, you can lock up some of those funds as a stake and you will get staking rewards on them just like a miner would.
Another thing I like about POS cryptos over POW, is that since rewards are given not for mining but for staking, we are literally being paid to hodl. This makes hodling less scary, and since so many POS funds are staked they are less likely to be pulled out at the slightest dip. I think this also explains the strong performance of POS vs POW coins recently.
That's all. I hope I presented everything in an easy enough way that some more people will look into the difference between these two, and maybe this will spark some new discussion in this subreddit. As an IT engineer I can tell you that we are already moving just about everything to be virtualized because it's simply more efficient, which is why Cloud Computing has become so popular. I am confident this trend will continue in the Crypto space as well as more of us realize there is no need to waste computing power for something that can be randomized, especially if that allows more of us to benefit from the rewards for hodling.
I’d like to know where I could buy some BCH clothing with BCH.
Suggestions?
![[link]](https://i.redd.it/4u0yfp4s4bk61.jpg){kind=link}
![[link]](https://i.redd.it/6p6ul7x5lbk61.jpg){kind=link}