Post
Topic
Board Bitcoin Discussion
Re: Changing Bitcoin into PoS(Piece of Stake)
by
inBitweTrust
on 16/06/2014, 23:36:01 UTC
Not really. The rich don't get richer in Nxt. If you own 10% of the coins and someone else owns 0.1%, after both forging for six months you will own 10% and they will own 0.1%. It makes no difference. You only lose if you don't bother to forge at all. Now we have leased forging, there's no reason not to forge.

http://www.mynxt.info/forging_calculator.php

This is incorrect. Lets run through the numbers:

If you are a large stakeholder with 100 million Nxt you will generate 112 Nxt in a year forging. If you have 100 next you would generate 0.11 nxt in a year. 

starting 10.00002% - after 1 year 10.00004%    vs     starting 0.000010% - after 1 year 0.000010011%

So the poor guy gets a 0.000000011% increase in wealth after one year and the rich guy gets a 0.00002% increase.

This may not seem like much but just an example showing you how the wealthy make a greater amount of wealth unlike the false info you are spreading.  In the future with compounding and higher transaction velocity this will have a very profound effect creating great fiscal divide between the haves and have nots.

Nxt doesn't use centralised checkpoints. It solve the history attack by not allowing block-chain reorganisations to reach back more than 720 blocks. This is a decentralised solution.

This doesn't prevent a history attack with Nxt but merely changes the execution strategy of the attacker to execute it within that window.