Post
Topic
Board Altcoin Discussion
Re: rpietila Altcoin Observer
by
AnonyMint
on 19/08/2014, 20:18:16 UTC
What do you think about the fact that Vitalik seems to be convinced that Bytemaster's DPoS system is superior to PoW? I ask you especially since you have been Bytemaster's biggest critic from what I can tell.

Why PoS can't remain decentralized. The 'D' in front of PoS doesn't overcome the issue.

In my opinion, the roadblock everyone seems to have with designing the correct PoW is they analyze it as a technical problem instead of as an economic problem.

If electricity and capital costs are correlated to price via difficulty, then PoW is also centralizing due to the power-law distribution of wealth and the debt financing economic model of the power vacuum of democracy.

All crypto-coins to date are centralized mining deceptions:

http://letstalkbitcoin.com/blog/post/bino

So yeah DPoS could be superior for some metrics he finds useful or expedient, but it won't remain decentralized long-term.