DO you guys ever think that bitcoin will do proof of stake? Just wanted to get some peoples insights on this.
No, because PoS doesn't work as a decentralised consensus. Every single PoS coin is a private club, with trusted owners, much like Visa the company is. When you invest in a PoS coin you are being tricked into thinking you're investing in the future, when actually you're investing something that can never work as designed.
Read this for more details:
https://bitcointalk.org/index.php?topic=1382241.0Cheers, Paul.
Wow ouch. That's like saying the stock market doesn't work because only the original owners and a few wealthy shareholders get to make all the rules. Shareholders do still put pressure on companies, even small shareholders. I guess if you thought the design of PoS was total democracy you are right...PoS won't create democracy. But heck, neither does the US voting system.
All systems would be perfect if all people had good intentions and were not always trying to find ways to crack them, a perfect system is not "perfect" is just a system that can prevent all possible attacks or work arrounds from the society