To move the discussion from another thread. Even if POS algo is 100% secure until no one has at any point in time (present or past - present is enough for this consideration) 51% of coins, and if initially "fairly" distributed (e.g. with looong and "fair" POW) i don't thing that POS coin can be secure in the long run.
Let me give an illustrative example. Let POS phase start with power law distributed coin, i'll assume that security experts are in top of distribution - having on average more coins than an average Joe. It will soon (i think) become clear why this assumption will be satisfied sooner or later. Average Joe can be hacked more easily, and on average he is. Contrary to security experts which do it efficiently for themselves, now average Joe has to pay someone to secure his hot wallet (or converge to centralized solution) or take his wallet offline. Consequently, ppl less knowledgeable on the subject will stop having their coins in their hot wallets, on the average. So majority of coins will tend to just small group of ppl, on the average. Now i'll stop here, just wanted to give a possible trend of all pure POSs - and it is not unconditionally stable.
I argue that security experts will use recourses for staking several orders of magnitude more efficiently than an average Joe, so to Joe it becomes relatively expensive to stake. And this is not something that can (easily) happen with POW, as seems that POW gives much flatter playground. Consequentially, probability is that ppl will get relatively easily FUDed out of (even secure) POS coins - which just perpetuates this unstable process. And offc, i could be wrong
Let me give an illustrative example. Let POS phase start with power law distributed coin, i'll assume that security experts are in top of distribution - having on average more coins than an average Joe. It will soon (i think) become clear why this assumption will be satisfied sooner or later. Average Joe can be hacked more easily, and on average he is. Contrary to security experts which do it efficiently for themselves, now average Joe has to pay someone to secure his hot wallet (or converge to centralized solution) or take his wallet offline. Consequently, ppl less knowledgeable on the subject will stop having their coins in their hot wallets, on the average. So majority of coins will tend to just small group of ppl, on the average. Now i'll stop here, just wanted to give a possible trend of all pure POSs - and it is not unconditionally stable.
I argue that security experts will use recourses for staking several orders of magnitude more efficiently than an average Joe, so to Joe it becomes relatively expensive to stake. And this is not something that can (easily) happen with POW, as seems that POW gives much flatter playground. Consequentially, probability is that ppl will get relatively easily FUDed out of (even secure) POS coins - which just perpetuates this unstable process. And offc, i could be wrong