Post
Topic
Board Bitcoin Discussion
Re: Proof of stake mining of bicoin
by
DecentralizeEconomics
on 27/12/2014, 08:14:11 UTC
People who prefer PoS can simply use the already existing PoS systems.

More and more Bitcoin owners are starting looking for alternatives to wasteful PoW, this is the point of this discussion.

It is not wasteful, it is a must. You can't create money out of thin air like fiat money, that kind of scam must stop, this is the point of bitcoin

The point of bitcoin was to liberate the monetary system from centralized powers (aka the central bankers).  PoS and PoW currencies derive their value from their ability to allow people to escape from centralized monetary systems.  Once a cryptocurrency fails to provide this decentralization and becomes prone to centralization like BTC, the cryptocurrency loses its original value proposition.