Quote from: valgandar on May 14, 2018, 05:31:02 AM

Quote from: hoangcao243 on May 13, 2018, 10:05:00 PM

Quote from: nanona on May 13, 2018, 09:33:02 AM

Quote from: JohnYDillinger on May 13, 2018, 07:44:48 AM

I think that PoW is no longer needed because we have PoS...

PoS is rewarding wealth. PoW is rewarding work.

Therefore PoS = Piece of Sh..

Iridium is PoW.

Those who want to see the fraudulent legacy financial system, where newly issued money goes to the billionaires/monopolists, the friends of the central bankers, and then eventually a tiny bit of it "trickles down" to their wage slaves, bering introduced in crypto too --> Support PoS coins.

Those who want to see crypto as a system where newly issued money goes directly to the workers (aka miners) --> Support PoW coins

I guess most of the kids who scream for PoS on this and other forums have no clue what that concept really means. I doubt they are rich, probably just stupid.

If you think about it, it's the same thing, you don't mine with your hand bro, you mine with your gpu,cpu or whatever, at the end of the day it's still money. They can have a big farm or they can buy coins, same thing it's still money. PoS is better in a sense that it does not allow big company like Bitmain to have asics for themselves (they usually mine with asics for months before selling them). PoS will prevent that.

And how to prevent PoS low liquidity and whales buying giant loads of it just to gain a fat passive income?

Based on your question, you clearly have no background in economic, this is basic macro econ, the equation MT=PV. Liquidity has to be controlled, for USD we have the FED adjusting prime rate and money supply on the market by selling or buying T-Bonds. any thing that has limited supply (like gold) cannot be a currency, the best it could be is asset. To be a currency, it has to be monitored and controlled. Liquidity with POS is not POS issue but it's the coin and decentralized model issue. Hope that helps but i don't expect you to understand.