Post
Topic
Board Altcoin Discussion
Re: Is PoS dead?
by
dwma
on 27/06/2014, 21:31:29 UTC

yes i can confirm that for you if you like, PoS as a concept inside a crypto design is DOA, to all intents and purposes.

however "PoS" in the form of p2p lending is is probably the future of a new economic model, that same system and an evolution of crowd funding.

- Re "NXT" please take two things into account:

1. there will always be some suckers
2. you can't know how much is just the original holder sloshing it back and forth amongst themselves (because they IPO'd it to themselves) , i like to tell childlike and naive people that if it literally cost nothing and they own it all, what is the cost to trade it back and forth? - so you can't know how many people have been suckered by these systems and you can't know how much is just "Wall st" style volume trading.*

I mean thats one of the oldest Rat hole "Wall St " scams in the history of being taken for a ride, and people are (seemingly) ha ha ; ) lining up for it. (lots of new accounts support IPOs and PoS systems)

of course this could happen to a degree with ANY crypto, PoW installs a certain cost of course and also secures a certain amount of distribution.

so of course just like "Ripple" et al , and the rest you can ignore them or you can not ignore them it really doesn't matter, the result is going to be the same.

This is one of the better arguments that is for POW.  I could argue how POW doesn't guarantee fairness, only distribution to those wishing to pay for and upkeep mining.

Realize though, that POS can theoretically be as fair as anything possible.  All it requires is an open and public distribution.  The distribution record can even be put on the blockchain of the coin!  Public oversight 100%.  The only downside is everyone has to give up their privacy.  Sad  You can't even begin to do this with POW because POW is not for innovation.