@windfury
POW is a mechanism to make an expensive id
NO where did i say useless (dont even start more social drama by injecting your own words)
I was just merely making the reason clearer for the newbies, and the plebs like me, franky. I never said you were doing something.
satoshi chose PoW instead of PoS because
Incorrect,
Satoshi choose PoW because it was the only option available in 2008 for what he wanted.
Satoshi chose POW because it was the only FEASIBLE option available, and it STILL currently remains the only feasible option right now.
Plus in case many of you forgot, Wei Dai's B-Money experimented with a form of Proof Of Stake, I believe it was the first to resemble a POS coin, but later
Quote
Since the servers must be trusted to a degree, some mechanism is needed to
keep them honest. Each server is required to deposit a certain amount of
money in a special account to be used as potential fines or rewards for
proof of misconduct.
http://www.weidai.com/bmoney.txt