Quote from: habraken on August 23, 2015, 08:22:21 AM

Quote from: TPTB_need_war on August 23, 2015, 12:48:57 AM

Quote from: HCLivess on August 21, 2015, 09:39:59 AM

also, the Poelstra PoS criticism is deranged

Vitalik Buterin provided a strong counter argument. But regardless of whether PoS has more gameable entropy or not, for sure PoW can distribute new coins (and redistribute existing wealth...a necessary requirement of all money since dawn of mankind) and PoS can not.

Why necessary to redistribute money (at slow rates of debasement)? Because otherwise the macroeconomic incentives to invest with risk to produce more instead of save in deflation are not balanced.

In NXT the 'forging' (mining PoS) where you receive the transaction fees in a block, is just for helping secure the network, not as a source of new wealth. The low value of the coins (tokens) you receive is hardly enough to pay for electricity (yes, even when it runs on a Raspberry Pi) Cheesy

If NXT whales really want to actively increase their wealth, they'd do better to invest in projects (=risk), buy and trade NXT assets (=risk). Just leaving their NXT in the account forging doesn't do much for them. So PoS isn't relevant for wealth imo when it's like this.

If stimulus spending is guaranteed to boost NXT then why don't Bitcoin whales like Roger Ver give away their millions or fund huge advertising events? "$10,000 Bitcoin here we come!". Instead the Bitcoin millionaires can't even be bothered to spend $79.99 on a decent HD webcam.. Cheesy