Post
Topic
Board Altcoin Discussion
Re: The Ethereum Paradox
by
freshman777
on 20/05/2016, 08:23:31 UTC
Already covered why Vitalik likes proof of stake.  Even though all recursive systems (PoS) are inherently permissioned ledgers and not decentralized networks, he has some crazy, far leftist view that capitalism will cease to exist and everything will be run by authoritarian technocrats (which I'm sure he loves to pretend he will be one).  PoW only works in capitalist systems.  PoS, just like all permissioned ledgers (the US dollar is a federated chain), is ideal for all usury based, neo-feudalistic, slave plantations:

https://www.youtube.com/watch?v=i5VVmTI9F9s&feature=youtu.be&t=168

This is BS. Proof of stake is capitalist. Stakeholders own means of production, in their stakes. In Proof of work most users don't have this luxury, means of production are concentrated among 0.01%. PoW descends to corporatism, corporations controlling means of production, while PoS is many small business owners, read mom and pop shops, producing and validating blocks. For all intents and purposes PoS is a more capitalist system and I don't care how Vitalik views it. You shouldn't either, think for yourself.