Quote from: winterzauber on March 28, 2016, 08:17:05 AM

PoS is a closed loop, recursive, permissioned ledger. I can just corner the market on coins and if anyone requires them, I can now extort them because there is no entry point into the system besides the extortioners. Ethereum shares a similar fate. With unprofitable mining and no block rewards, you just issue the coin supply yourself, effortlessly create a monopoly out of thin air, attempt to pump the price, and now if anyone requires Ethereum for some particular reason, you now get to extort them. In this regard, Ethereum is also a permissioned ledger because there's no entry point into the system besides the extortioners.

In PoW, the coins are constantly being recycled by transaction fees acting as mining reward, meaning there is always a permissionless entry point. There is no permanent rich get richer scheme with interest or cornered supply and extortion scheme from day one like Ethereum.

Ok,

So you're saying PoS is a permissioned ledger and PoW is permissionless legder.

Sorry , calling Bullshit on that.

You act like the Proof of Stake guy will just Hoard it and never spend any.
All that does is make the remaining Proof of Stake coins more valuable and makes everyone else holding , hold tighter.
But they can still spend their Staked rewards and leave their principle untouched.
So their staked rewards flow out into the populace, where they can be purchased and staked again.

As to your comment : PoW is permissionless legder
That is a Real Joke.
Economics make PoW mining harder to enter into than PoS staking even now.

Proof of stake buy the coin from the exchange, transfer to personal wallet and let Stake, Easy and done.

Proof of Work ,
1. Buy a warehouse
2. Spend 1 million dollars buying ASICS
3. Spend thousand of dollars on electricity & IT Support Staff
4. Setup Website and system so others can buy shares into your BTC mining operation, because you make more money from the suckers that buy cloud mining than you do from mining BTC itself.
(If that does not make a lightbulb in your head Light up, well there's no hope for you.)
5. Pray for a Miracle , so the next halving does not end your Business models , because you can't afford to keep upgrading the ASICS Tongue

There is no Proof of Stake coin, that I cannot enter at this point in time.

You could not enter the BTC mining for less than ~1 million bucks.
You can claim , that you could be 1 of the suckers that goes into PoW cloud mining,
keyword suckers , they don't even Break even before the difficulty makes their mining shares sterile.

Cool

FYI:
Some of the comments you guys make, kills me Cheesy

.
As if it is so easy to corner a market or so easy to short sell a coin.
1. The more you try and corner a market the more impossible it becomes as you increase the cost of whatever you are buying.
2. Short Selling can destroy a coin, LOL. TRY IT. Cheesy

http://www.marketwatch.com/story/why-you-should-never-short-sell-stocks-2015-11-19

Quote from: kiklo on March 27, 2016, 11:51:30 PM

Quote from: smooth on March 27, 2016, 11:41:37 PM

Quote from: kiklo on March 27, 2016, 11:04:41 PM

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.