Quote from: ChronosCrypto on July 22, 2014, 11:44:07 PM

Quote from: ajareselde on July 22, 2014, 03:43:42 PM

POS is made for one purpuse only, and that is getting early adopters rich.

I think this isn't true. Some purposes of Peercoin are covered in the video in the OP. However, in a general sense, all cryptocurrency benefits early adopters.

Quote from: ajareselde on July 22, 2014, 03:43:42 PM

I agree that there are some negative issues on POW, but it can be fixed/changed/whatever.

This is extremely, extremely unlikely. Bitcoin is quickly reaching the point where it will never be "changed" again. Too many players would have to agree to update their software, which simply wouldn't happen unless there were some emergency.

I agree with Chronos.

First, Peercoin has no more rewards to early adopters than any other crypto - with the exception that Peercoin is designed for long term success, enduring and succeeding in time after other cryptos have failed. Only in this respect, it is more favorable to early adopters.

Second, it is true that Bitcoin is unlikely to change much from here on forward. But unlike Chronos I don't think this is because "Too many players would have to agree..." rather, I believe Bitcoin will not change because of a couple of less big reasons and one very big reason:
1) Bitcoin has a market cap now of 8 Billion dollars. What paid or unpaid developer wants to risk screwing that up? If the price rises or falls dramatically the fear and paralysis of core developers will become even greater.
2) Bitcoin core developers are under a constant noisey harangue by countless clueless fan boys and others who have little idea of what they are all shouting about. Mike Hearn, a core developer says for this reason and the above reason the core developers have quit developing;
3) This is the big reason that pretty much dominates all other factors: The power and control in Bitcoin is in the few hands not of core developers nor Bitcoin holders but of the most important actors in Bitcoin - those who verify transactions - the shrinking number of miners and even smaller number of mining pool managers. These are the very small number of people who have total veto power on any change to Bitcoin and they have tens of millions of dollars invested so they would never allow a change or improvement such as Proof-of-Stake which would be better for Bitcoin holders but would devastate the power and wealth of the small handful of centralized miners and their mining pools.

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