RE: POW Mining – Time to Get Out?
@cryptographic,
You are absolutely correct! I had a good example about POW and DPOS! I think I want to write it here to make a nice entry to the discussion!
5 Months back, one of my good friend asked my help to install a mining rig! He wanted to invest 3260.00 USD on it! I told him, better you invest that money on STEEM, so you get power of stake (POS) and the Delegate Power of Stake (DPOS) as well. The Price of STEEM was at 0.8-0.9 USD at that time
If he invested on STEEM, he gets 3000 STEEM Power and he had a chance to make more by using his SP! But that guy wanted to build the rig! I helped him and he is still made 1/3 of his investment! Paying for electricity bills and complexity of algorithm is not making a decent income to him. But STEEM price made an up trend and if he did his investment on STEEM now he almost earned his profit and making more money by holding SP!
If someone wish to invest on mining rig or any other mining equipment, you better invest that money on BTS or STEEM or EOS! I do believe this is the future.
The most important thing is, you are the person who helped me to see this path! Thank you very much friend! Actually this is pretty amazing! That's how I feel it!
Cheers~
Thanks for that first hand experience. Your story is typical and I'm glad you shared it - it might be just what someone else needs to hear in order to avoid making the same mistake.
@cryptographic,
Funniest thing is one more guy asked the same thing yesterday and he said the same thing as the previous one said :D
Cheers~