Quote from: r0ach on March 20, 2016, 09:33:00 PM

Why PoS is busted:

Quote from: r0ach on March 15, 2016, 12:05:42 AM

For instance, you could remove mining to save energy and create a closed loop, recursive, PoS system, but without the external entropy of mining, you now have a permissioned ledger and not a real decentralized currency. It has no real fault or state recovery since it needs to reference the parts that have already failed in order to continue. With Bitcoin PoW, there really is no terminal failure unless the cryptography itself becomes compromised. That's why Bitcoin is more valuable than all the alternative methods you see. A global economy can't go from working to dead at the drop of a hat with no way to fix it.

Sorry this just sounds like a bunch of confusion.

PoW, requires you to mine the next block , and that gives it permission to place an entry in the ledger.
PoS requires your block outstake competing blocks , and that gives it permission to place an entry in the ledger.

So that permissioned ledger and not a real decentralized currency, sorry does not ring true with me at least.

Fact as a Proof of Stake User with a well designed System, I do not need to join a Pool to earn coins.
So once it becomes more widely used, there will be more individual PoS wallets staking than PoW.
Reason being PoW BTC requires the majority of users to Joins Pools, so those miners can not be counted as individual miner , but must be counted per pool.
Are there even 50 BTC pools out there now, which some will drop at the next halfing, so PoW will be nothing but Centralized.

Where as with PoS coin every single user counts, so our numbers will be higher and we will be more Decentralized than PoW.

FYI:
BTC will fail when the electricity costs are more than the coin profit can generate.
Which for individuals this happened years ago.

FYI2:
Proof of stake , you earn more coins by running a node.
Longer it runs the more compound interest you can earn.
Plus it runs as an Minimized App on my PC,
while I am using the PC for other things and the electricity cost are not even noticeable, since I would have the PC on anyway. Cheesy

Proof of Work , BTC Nodes are declining because not enough financial incentive to keep running them?
http://bravenewcoin.com/news/the-decline-in-bitcoins-full-nodes/