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RE: Bitshares is superior to any other crypto and therefore so is Steem
Missing a good explanation on the trade-off of DPOS here and what it means to the security of the blockchain. Although you don't point that speed is not everything.
I mean if the only point of bitshare is the speed while providing a security where you replace bank by witnesses, you might as well use VISA/MasterCard.
The explanation you seem to be missing is about something I disagree on with you. You are free to try and lay out your take on that subject here.
This reminds me of past discussions about why Proof Of Work is the best way to secure a blockchain. And later about Proof Of Stake being the safest way. For me they are both past solutions. It benefits miners and minters mostly.
Yet a blockchain can be split that uses POW. That is costing me a lot right now, thanks to the 'super secure' Bitcoin.
One would have to be a 51% miner to be able to stop that split. That realm, by the way is getting centralized and now splits.
So, how secure is the value my BTC is holding? It cost me a 30% loss yesterday. But that is the risk I took by still holding some BTC. Yet it did add to my belief in the superior blockchain technology that comes with DPOS and witnesses.
The suggestion you make that using witnesses is like trusting banks is one that I disagree on too. Witnesses I can vote for, and unvote. There are a range of potential witnesses ready to step in.
Banks are privately owned entities that will want to keep you out off their business. No public ledger there.
Well, it can at least match the speed of credit card transactions. And thanks to Bitshares Munich there is a payment system that gives the opportunity to experience that.
Major difference is the way it works. Privately owned, closed sourced, centralized, or the publicly enjoyed open sourced decentralized blockchain.
From a technical point of view I still see a use for Bitcoin. Used like the blockchain version of gold. And it is good that we all have a free choice in what system to use.
And I think that it is great that anybody can start their own 'coin'. As long as it is open to the public and private entities are kept out off control. They would only want to control it in a centralized banking way.
Using Bitshares, Steem and so on is on a voluntary base. Just like using credit cards or make use of banking services.
If I look at all pros and contras then my vote goes to Bitshares, Steem and those alike being the current superior blockchain technology.
My vote would be spread between zcash, ethereum, bitcoin and Steemit.
I clearly don't know all the details about the DPOS (because well Steemit documentation sucks, to put it blantly).
You seem to mix security and trading value which I would not do, at least not that way. Of course it becomes cheaper to attack BTC if the trading value is low but that is another discussion.
My comparison between witnesses and banks apply for Steemit, most likely not for bitshares. I would like to see the number of active Steemians who actually vote for a witness. Do they understand the potential attacks, by far lower than traditional media of course?
I although understand the need of a small list of witnesses but I am uncomfortable with it (that is not based on technical reasons I should point out).
So my comment about your article was that it was oversimplifying the comparison: " we are fast, we can do al lot of transactions, so we are better". For instance Ethereum should be a good comparison, since there are building Akasha on it, and since its blocktime is less than 20 sec.
No Monero?
I need to read a bit more. I think Dash is too light for privacy. Monero seems to be a bit better.
No Bitshares?!
not really. I played a bit with it but I guess I need to see, for myself, other use cases.