Post
Topic
Board Altcoin Discussion
Re: PoS is far inferior to PoW - why are so many people advocating switching to PoS
by
Bombadil
on 14/11/2014, 14:33:54 UTC
I'm not familiar with nxt assets, I was referring to POS in general. Having ANY POS whatsoever discourages spending and thus kills adoption. Having no POS encourages spending, because your money will be worth less than it is tommorow. Alt-coins are supposed to be just that, coins, a currency. If you dont want your currency to devalue you invest it somewhere(get interest at a bank, buy stocks w/e), you shouldn't expect the act of holding to be rewarded.

It doesn't make sense to talk about PoS in general, because PoS 1 != PoS 2 != PoS 3. When you talk about PoS, you must mention a specific implementation of PoS you refer to. While PoW cryptos are all the same, copies of Bitcoin code (except Bytecoin/Monero cryptos which have the same basic flaws of PoW that Bitcoin has), PoS implementations are all different (Peercoin != NXT != Bitshares != NEM != Qora, NODE, etc.), their flaws would also be different, you can't put them all in the same group if you are serious about your claims.

Yep, PoS has so many styles and tastes, it's hard to keep track. There should be a page somewhere explaining the differences between several PoS systems Wink