Post
Topic
Board Bitcoin Discussion
Re: Proof of stake mining of bicoin
by
johnyj
on 27/12/2014, 09:12:05 UTC
So you really think majority of hash power having full control of the protocol is better then stake holders leading the coin development? Are you serious?

To control the majority of hash power, you must put real resources and might still fail due to slow in movement, it is much more difficult than controlling a few stake holders. Imagine that once bitcoin is becoming POS, then top 10 stake holders will immediately enter the watch list of CIA

Yes i agree with you, it is ACTUALLY more difficult to control majority of bitcoin hash power then a few major stake holders of a 1 year old POS coin.
However it will not always stay the same, as POW mining reward decreases and POS coins get more distributed the former becomes weaker and the latter becomes stronger.
If you try to attack two coins with the same market cap, one is POS and the other one is POW, you will probably end up wasting a lot more resources attacking the POS.
POW ages like milk, POS ages like wine.

No one will attack PoS coins, it cost nothing to make, it does not have any value, why attack it? Do you ever want to attack bitcoin when it was worth nothing during 2009? Bitcoin's value grows together with the mining cost, however for PoS coins I can not see how its value can grow without its cost growing. And once it has a cost, it will waste energy