Quote from: eddilicious on March 20, 2014, 03:22:20 AM

Quote from: stevegreer on March 20, 2014, 12:42:05 AM

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

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.

POS isn't totally without effort. Well, for miners at least. Zeit is a POW/POS coin that I have spent a lot of resources (effort) mining in the POW phase in order to build up a supply in my wallet to generate more coins in the upcoming POS phase.

here is my thinking. because cryptos have so many 0s after decimal point, so the number of coins does not matter. 42 coins = 42m coins = 42b coins. it is not like USD has to be at least 1 penny, YEN has to be at least 1YEN. 1 coin in 42m = 100 satoshi in 42. you can always divide into the exact amount you want to spend.

now, for POS coin, the initial distribution is 100m. Everyone turn on the computer and wait for the interest payment. 1 year later, the total pool is 200m. what is the difference? 1 year ago, you have 1 coin in 100m, now, you have 2 coin in 200m. Is it not the same?

the POS theory, is like buy apl stock at $1000, if it split 1000 times, everyone will have $1000x1000 = $1 million. no! you still have 1000. that is how much this company is worth.

Not exact.y they is something like supply / demand if you create demand eg servise only with payed with one coins eg BC...
POS system have such + that inflation goes directly to your pocket.
In coparison imagine that you are central bank you produce money.
With POW is more like today goverment/miners produce inflation those who keep money are losing them simple.
Problem with POS is only one expand user base make it popular.

Big - is that you have to be very creative to attract new people in
,while POW do it just by higher prices of coin
then miners go to coin and promote it Cheesy

mine it sell it like it was with LTC price road up...
But expensive ASICs soon will kill LTC popularity ;( no real advantage over BTC.
Aiscs will kill most of script coins vaule but time will come to LTC to ^^.

If you don't want POS with failing in value just chose Cash or BC... with low inflation not HBN +100%...
Or even quark(Zet soon) this coin is almost POS Cheesy

since is mined in 98%...