When will we leverage the PoSe system to move from PoW to 100% PoService? Is there a technical reason why this wouldn't be possible/desirable?
Proof of Work is wasteful and dangerous (do you really believe a dedicated hacker couldn't hack a couple of the biggest pools and use them to launch an attack?). It seems like the ideal solution would be to get rid of mining altogether, and have masternodes create and publish blocks rather than miners.
The masternode network would have to be absolutely bullet proof. At the moment if the masternode network goes down for whatever reason transactions are still processed with POW. The coin continues. There have been masternode network outages in the past. The dual system works. And many believe pow works because it is inefficient. And distribution via people mining with video cards is fantastic. Be it mega rigs or just gaming machines it encourages getting into crypto without the exchange crap.
Yer, and why kick a whole load of potential users via mining out of the picture before they've even started? This should be open to everyone, don't we want a large a market as possible and not just a small number of people who can afford 1000 Dash.
Mining is a great entry method into crypto for any coin.
I agree, mining is a great way to get into crypto. It's how I got involved myself. However, the current system of pools is *dangerous.* I'm very scared that nobody is going to listen until an attack happens.
Unless something has changed in the last six months (since I stopped mining), Dash is extremely unprofitable to mine. The cost of electricity is greater than the value of the coins received. When you consider depreciation of the hardware, the picture becomes even more bleak. I don't like the idea of entrusting the security of our blockchain to altruists who are willing to lose money in order to secure the network.
(Again, I haven't mined Dash in quite awhile, so forgive me if this is no longer accurate.)