Quote from: Come-from-Beyond on January 23, 2014, 03:40:04 PM

Quote from: newsilike on January 23, 2014, 03:34:34 PM

You mentioned that PoS is not going to stay with Nxt forever.

What is coming after the Proof of Stake?

I dunno. BCNext once said that at final stage Transparent Forging would become so transparent that we wouldn't even need it.

What do you mean? To sign a block anyone'll need proof of... what? Instead of stake. Equal chances to all forgers? It'll decrease natural PoS-protection attack'll become cheaper, won't it?

For klee:

Quote from: klee on January 23, 2014, 09:23:44 PM

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From what I've understood the rig doesn't matter. What matters is how many coins you have in your wallet. And unless you have millions I don't think you will be forging much of anything. Please correct me if I'm wrong.

1 coin = 1 perfect rig. Almost 0 amortization, we've to keep entropy as low as possible, haven't we?

Quote from: klee on January 23, 2014, 09:23:44 PM

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but how does rewarding the rich for being rich (Proof of stake algorithms) make any sense at all?

That's not about reward. Mining or forging needed for keeping crypto run. Reward is stimulation, forging takes so small effort, so I'd forge even for free, if it would set that way. But balances+txs+fees=0 make sense, so makes sense >0 fee to make both txs'es senders compete and avoid spam. Maybe 1 NXT soon will be too much though.

Quote from: klee on January 23, 2014, 09:23:44 PM

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In POS they just keep generating more out of thin air. That is just ridiculous.

That's incorrect point with Nxt.

Quote from: klee on January 23, 2014, 09:23:44 PM

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It's just not a good way of distributing value.

Do the math. For eye's estimation current distribution of wealth almost the same for bitcoiners and nxters.

Quote from: klee on January 23, 2014, 09:23:44 PM

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Now with POScoin you acquire a 1% position in the coin the first month and basically have to do nothing to maintain that position in the future except not sell.

Valid. It's an equation: at some point big amount of coins hurting you versus potential scenarios. How much? Well, Satoshi's funds doesn't stop Bitcoin from spreading so far, so u can estimate deadly %. Even XRPs are trading, for God sake Grin

Quote from: klee on January 23, 2014, 09:23:44 PM

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I'm going to have to provide value to other people in society for them to pay me it.

U can't provide value. It's generally relative thing. And PoW just getting oldtech as block's signing system: too much effort, same result.

Quote from: klee on January 23, 2014, 09:23:44 PM

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They won't be rewarded just for owning coins either and that is also a good thing.

Excuse me? They will. If Bitcoin'll get even higher success (as u suggest to spread the word, for myself I was going to non-profitable-Bitcoin-mining as form of supporting the idea until I read about Nxt), any holder'll become richier.

Quote from: klee on January 23, 2014, 09:23:44 PM

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One huge thing that bitcoin has going for it is that it is already very well established.

"Outcome bias", bro. One of the cognitive ones.

And 2 cents about ROI%:
ROI% of mining PoW-currency (any) can be very high. There's already market of rigs for BTC for example. But it's not a passive income. For profitable in long-term mining u'll need or arms race (CPUs, GPUs, FPGAs, ASICs check, what's next? Grin

), or coins-to-mine race (BTC, LTC, 5 more, 10 more, 50 more check), where u've to be with or most powerful rig, and/or to be in best currency to mine at that moment. And we'll get some field of decisions (rig/coin in dynamic) for "+" ROI% of mining.