Post
Topic
Board Bitcoin Discussion
Re: Long Live Proof-of-Work, Long Live Mining - "there is no meaningful alternative"
by
cbeast
on 10/12/2014, 15:04:22 UTC
Stake isn't capital. You can base PoS on tokens like travel points. Capital is fixed value hardware or natural resources. Bulldozers, ASICS, oil, and licenses are examples of capital. PoS tokens are speculative vehicles that may or may not have value except as a security token like a Verisign cookie.

Since you consider licenses (intellectual property, not just physical property) an example of capital, think of the stake as a license that you invest into.
As long as you have legal standing to issue the license then fine. Would you then copyright it and keep it closed source? Would you sue people for violating your license? If so, then yes, you have a good statist capital.