Post
Topic
Board Bitcoin Discussion
Re: Proof of Stake
by
bluemeanie1
on 01/05/2014, 17:04:11 UTC
and of course the developers are the initial stake holders as it should be.
I guess the word "decentralized" means nothing to you.

Keep in mind the cost parameters are quite different for a pure PoS block chain.  There are little computation requirements, and thus negligible capital requirements.  The notion of 'initial stakeholders' takes on quite a different meaning in this context.  As long as the code is open source[1] then there is little barrier to entry, and disagreeable initial disbursements are not likely to be adopted(due to higher competition).

[1] and observationally NXT is not open source.  Have a look at Reddcoin though, that's a bit more in the realm of what your considering.