It just occurred to me that there is a very big difference between PoST and PoW and I haven’t yet seen a discussion about it.
When mining PoW coins like ETH or BTC, you can switch between different algorithms/coins on the fly. You just shut down one miner and start up a different one. In fact, many miner management systems have automatic profit switching built in as a feature - it will continually look for the most profitable coin to mine and switch mining clients as appropriate based on your rules.
But we won’t be able to do this easily with PoST will we? Because of the large effort up front in plotting, it will be very difficult and time consuming to switch to a competing PoST coin that happens to be more profitable. This is a form of lock-in BUT greatly benefits the first PoST coin to market.
Is this a good thing for Chia or bad? Thoughts?