Quote from: petko on May 01, 2014, 10:04:40 PM

Quote from: bluemeanie1 on May 01, 2014, 05:04:11 PM

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).

Long story short, at day one, the developers are the only ones who invested real-life efforts in this system, consequently they are the only ones interested in not destroying it.
More details about my point of view - here

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The proof of stake as alternative of proof of work is discussed almost 3 years already. The benefits are many, most important for me is that children will stop spending money for otherwise unnecessary hardware, hoping that this will provide them prosperity till the end of their lives. You cannot expect that, kid. You cannot expect that the society will provide you with food, drinks, car, apartment, etc, and the only thing you will give in return is 4 video cards set up in a crate. Things dont work this way. Actually they work but only for a few initial adopters. This is why drug dealers still live with their moms. Better concentrate on education and creating real value.

I have to admit your writing made me laugh.

I do agree, the trust model of Bitcoin is flawed and it's worth examining.

I invented a chain model that uses predefined trust. http://altchain.org

-bm