Post
Topic
Board Altcoin Discussion
Re: IDEAL: no ICOs, no proof-of-work, no proof-of-stake, no governance, and no forks
by
AZwarel
on 26/06/2016, 02:02:45 UTC
Just two things came to my mind reading (most) this.

1. There can not be equal distribution. Because we are not the same (may i say equal), and if any coin represents economic value, the economic activity made through it will instantly "unbalance" the equal distribution of itself by the users, based on the different skill levels they can contribute to other people's needs. See, same reason why communism can not work.

2. I do support PoW, because it is secure. You have to burn those Mgwatts, and spend the TIME. Mining has to provide security on a technical level - NOT minting coins -, and big datacenters with low electricity cost are the most economic, you can not avoid this, ever, with any "ideal solution"*. Forking, or "evil miners do evil plots" scenarios can not be solved by any technical/software/genious invention solution, because, they are social problems (which means they derive from human action, which is always subjective, non-deterministic, and can not be expressed in 1s and 0s).
Also, that is why miners will not do anything against the network, ever. The moment they do, their own reward (coins) value collapses, and the network just fork, and we can again mine on laptops for a short while :-)

*if you can evade economic scaling (like CPU-only mining) that means it is highly vulnerable to anyone, who wants to destroy the network regardless of cost(!), which is what ASIC PoW protect us against. It is the lesser evil so to speak.