Quote from: cunicula on November 23, 2012, 04:29:00 PM

[My alt-chain scheme is detailed here:
https://en.bitcoin.it/wiki/Proof_of_Stake
If you read it, I think you'll find that it is not a Keynesian scheme at all. If you think otherwise, please let me know why.

This wasn't the topic of your thread. I made no comments on PoS, because I haven't analysed it sufficiently to make up my mind. I prefer to refrain from commenting on something I don't understand.

I just have one minor comment, I like PoW because it makes sure that the marginal costs trail the market price. Without this, I think the system would not be stable. Maybe PoS does it too, maybe it doesn't, I don't know. But to object to PoW on account of the costs being too high (as I deduce from your random remarks) has no economic foundation.

Also, PoS isn't the only alternative, there's also Iain's "Proof of Burn", and Andrew Miller talked about a yet another mechanism during his talk at the conference in London.