Post
Topic
Board Altcoin Discussion
Re: IOTA - Permissioned ledger Russian extortion scheme
by
smooth
on 28/03/2016, 00:17:11 UTC
Which Proof of Stake coins are you unable to Acquire?

All of them, without permission from an existing stakeholder (hacking exception from previous post noted)

You can go to an exchange and buy some, instead of making up stories.
If BTC owners don't sell their coins , you can't buy them either, so your Logic is Flawed.  Wink

You act like people are sealed in a bubble, fact is there is always something someone else has, that someone else wants, and to get those services & goods, we must trade with each other. IE: Food , Water , Healthcare, Companionship, Entertainment , New Cars, all of this require you give something up, the idea that someone can live without trading anything is beyond fantasy.

Because you still have to buy the asics or cloud mining from someone, so without their permission, you can't get BTC.  Tongue

In other words you have to get permission from the ISP, Hardware Manufacturers, and electric company , before you can even attempt mining,
so this permission verses permission less theory is really just a load a BS.


 Cool

FYI:
So in other words For any System to Work Requires Permission from someone, which totally destroys your Argument.   Smiley

Your argument is terrible. Nearly all of the things you mention (excluding new cars perhaps) are inherently available from many different sources. Food, water, etc. Go to probably millions of distinct habitable locations on earth and you will find them. Companionship is available from billions of people, healthcare from millions of providers, etc.

In nearly all existing proof-of-stake systems, the stake is highly concentrated by anywhere from a handful to possibly a few thousand people, in the latter case a group which likely has large internal concentration.

Moreover, the nature of paper wealth is that it is not subject to physical constraints of space or crowding and therefore tends to reach extraordinary concentration. Nearly all of the paper wealth (trillions or quadrillions) that exist in the world are controlled by a handful of banks, or in turn collude via entities such as central banks and the IMF. That control over the bulk of wealth allows them to extend that control all the way down to banning weed stores from getting bank accounts and encumbering nearly all physical wealth in a web of debt.

Any system based on control of notional wealth is in practice permissioned.

Systems based on control of physical devices such as computers or even physical phenomenon such as electricity may become permissioned (as I would suggest Bitcoin largely has at least for the moment), but they have a fighting chance in a way that wealth-based systems such as proof of stake do not.