Quote from: Jeezy911 on March 18, 2014, 12:54:25 AM

Quote from: eddilicious on March 18, 2014, 12:36:08 AM

Quote from: Joshuar on March 17, 2014, 01:36:21 PM

What we need is PoS COINS. Not scrypt, Not Sha, Not anything besides PoS.

PoS= Proof of Stake, where No Mining is involved!

Those are the future of cryptocurrencies.

I am not buying this PoS concept. For one reason, human society does not favor socialism in the past. If you can get paid without effort, then nobody will end up working. If you want to succeed, you work harder than others. so far I am wrong with pos coins, they seems to be hold on longer than pow coins, but we will meet in the finish line. When satoshi create btc, he actually had an economic model in his mind(the distribution cycle is much better than mec or the rest), those pos, has nothing comparable.

POS coins are all I go into, and I believe in the concept as a hard conservative. The reason society hasn't bought into socialistic money principals is because it is really hard to "Believe" when you deposit money into a savings account and get .01% interest a year. It's just plain bullshit.

in our real world, saving interest rate is always lower than the fiat money printing rate. In order, for the society to find a better use of the money, like investing, or consuming.

just look at how much issue FreeTrade was getting into when he use the "tax" to pay 5 CxOs 58MMC a day, without observable work required. The more coin you have, the more coin you will earn, that concept will not work with late adopters, so there will not be late adopters.