Quote from: brainactive on Today at 06:31:28 AM

One of the arguments against proof of stake is that those with the most stake maintain power over the system (much like our current financial system) and therefore is not "truly" decentralised.

Can't this argument also be applied to proof of work? Those with most wealth can accumulate the most mining hardware and therefore have most control over the system?

What is control over the system? In your subsequent replies, you talked about a 51% attack. Let us assume that that is not even the scenario of comparison. Because nobody would attack their own investment, right? (This of course does not discount the external actors).

Lets talk about "control" for now. In a PoW system, there is NOTHING for the miner to control. The miner cannot give himself greater fee or change the economics to benefit himself in subtle ways. Compare this with PoS coins. Most PoS coins have fees paid out to validators/ delegators as a percentage of the transaction fee as well as coinbase tokens. What stops centralized entities from colluding to make it favorable to themselves, like what happened with that 4-Billion dollar ICO?

There actually is something to controlled in PoS, all in the name of governance parameters. It also ensures unlimited, constant income for the topmost people at the expense of its users. In case of PoW, there is no such thing to be controlled.

No matter what "decentralization modelling", the PoS coins come up with, it is simple common sense that those with the most power will inevitably collude. The only solution we have for that has been bitcoin, not only because of Satoshi's PoW brilliance (there are hundreds, if not thousands other PoW coins), but also due to the network effect, time in the wild, robustness and proven ethos of its community as well as developers.

Quote from: brainactive on Today at 08:43:04 AM

Quote from: ranochigo on Today at 08:25:31 AM

In the case of PoS, they can support multiple forks without losing out. The degree of fault tolerant for PoS is 1/3 of the network going rogue as compared to 1/2 for PoW.

Where did you get the 1/3 from?

+1

Yeah, what is this about? @ranochigo