I would not allow a pure pos coin of any kind.
As much as I try to understand how a pos coin can’t work with no mining I simply see all pos only coins as impossible to truly work.
Hi philip.
Not against your opinion and i'm a miner myself, but i'm quite curious. There are already lots of research articles on POS and how much more efficient and secure the mining process can be, would you like to explain why you believe these protocols won't work?
what backs the coin?
a pow electrical power spent and mining gear back the coin.
kind of an equivalent to silver or gold standard.
in the case of a pos the coin is not backed by power spent or by gear mining.
it is backed by fiat tendered for coin. much closer to a bank then pow.
note i said pure POS not hybrid such as ETH or PPC
To me POS is much like a bond or a cd
Now I have stayed clear of POS when I had a run in with PPC I had staked 2000 ppc coins and they were due to do earn 3% for staking .. The dev came out with a new wallet and said it was needed to switch to it by a set date. 3 or 4 people had all their coins vanish when doing the upgrade. 2000 coins were worth about 1100 usd. I would have taken a shot at the update but I had my wallet on mac and they did not do a mac update. I talked it over on there site got no help and decided to cash out. I never did pos after this and they were a pos/pow hybrid which was what I liked about them.
If I can not mine coins at a certain profit even a small profit I am not doing a business.
I don't know of any pure pos coin that allows this.
ie I stuck with a stake cost which is not controllable at my level.
With pow I can control
power cost
gear cost
earn certain profit on a coin
for instance BTG I earn .4 a day that is split on my power deal so it is a certain 0.20 BTG a day
my gear cost = 0 so 0.20 x 365 = 73 BTG a certainty to a degree that is 12 a month sell 6 hodl 6 end of the year sold 36 held 36
make money.
I can not do this with pos