Post
Topic
Board Bitcoin Discussion
Re: Proof of stake mining of bicoin
by
Come-from-Beyond
on 29/12/2014, 14:25:23 UTC
PoS security mechanism is that of a private enterprise.

PoS = PoW with one level of indirection removed.

Instead of
Code:
Dollars -> Mining rig -> Cryptocoins
PoS offers
Code:
Dollars -> Cryptocoins

Comparison with a private enterprise is incorrect because you compare only few aspects ignoring the others.

I could say that Bitcoin = FED because miners print money if I followed your tactics.