Quote from: Xian01 on April 12, 2015, 11:52:23 PM

Quote from: Crestington on April 12, 2015, 11:41:47 PM

You mine it with ownership of Coins

This is the crux of the issue.

As a miner, and a noob to PayCon, there is zero incentive for me to become involved with the coin if I don't own any already, as it's impossible to mine at this time.

Why should I bother ?

I tried to get in for the lulz, and now I'm just SMH at the myopia of its design (unless that's part of the joke to begin with)

For me with POW mining, it's all about NOT having the hardware to do any mining that's the problem for me. If you think about someone as a total noob to all of Crypto, they don't know how to mine, setup or configure anything, and the cost of a miner to even get in the game is astronomical, not to mention that it would be very unlikely to ever see any ROI off of it. If there was a POW aspect, then you also need to consistently to uphold security and there is always the risk of a very large amount of hashrate coming in and attacking the chain. Not only do you have to keep mining, POW is much more expensive to upkeep in electricity bills than POS which makes a person forced to sell Coins just to pay for electrical costs.

Proof of Stake costs maybe a couple dollars in electricity month and is getting even more efficient as time goes, I understand that you want to just mine the Coin to get into it but for people who already own the Coin to have POW miners, mining and selling the Coins they are creating, it devalues the Coin. I don't see it so much as price, but what you own VS the entire money supply, so if you have POW then it is really bad to be a large holder in a Coin because you can never keep up with all the sell pressure, you would literally need to buy every POW Coin being sold into the market in order to keep the price stable.

No Proof of work means as time goes on new people are buying from existing holders, it costs less than a couple dollars a month to mine with the Coins you own and since there can never be 100% Stake rate, you are always slightly gaining on the overall inflation, but of course everyone sells at some point so there is always room to accumulate more Coins or even help with some features, promotion etc. for free Coins.

Impossible to POW mine IS the point since there is no point holding on to something that is losing value daily and is a security risk.