Post
Topic
Board Altcoin Discussion
Re: [ANNOUNCE] Bitcoin Cooperative Proof-of-Stake - CPoS
by
ChuckOne
on 15/06/2014, 09:55:27 UTC
The 51% attack which happened this week is a warning sign to anyone paying attention. It's a red flag exactly like what we saw when Mt Gox was not processing withdraws. The time to push for a hard fork is right now because Proof of Work as Bitcoin is implementing it is obsolete. It's an incomplete solution compared to a more complete solution such as the Cooperative Proof-of-Stake CPoS or Delegative Proof of Stake DPoS. NXT has a solution as well and the specific challenge we have is to promote the best technologies even when it might not be in the best economic interests of entrenched elites of Proof of Work Blockchain hierarchies.

Holy crap. Is this true?