Post
Topic
Board Bitcoin Discussion
Re: Proof of stake mining of bicoin
by
cryptogeeknext
on 29/12/2014, 15:23:41 UTC
Is it some form of hidden g@y propaganda? I'm straight, so I'm out Cheesy

Have you just attempted to insult ~10% of BTT users?

Of course not, everyone has a right to choose what they prefer, bicoin is cool, let's furk it! Cheesy

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.

So you equate PoS cryptocoins to dollars, which is correct as both have stakeholders at the center of their security model, while recognizing that PoW makes a difference, which I fully agree with.