You are not making any sense. In your model, there is no work that the "PoS" does.
The PoS does require some work to validate transactions; it's just a lot less work without the proof of work requirement. So forgers (what NXT calls the validators; it doesn't like to use the word "miners") still need a reward, but it can be a much lower one.Quote
So all coin creation serves only to inflate the value of all coins.
Coin creation devalues existing coins through inflation whatever the system. Arguably, PoW requires more inflation because the miners are doing more work and so need higher rewards than mere transaction fees can give them (at least while the currency is young, transaction volumes are low and the capital value is low).Quote
Is there anyone in the thread who knows what he is talking or do I have to conclude that all "PoS" is smoke and mirrors?
Part of the problem is that there are multiple PoS systems. I, for example, know NXT somewhat better than I know PeerCoin. I get the impression people are assuming features of one coin or another are inherent to PoS, even if they aren't.And I'm very far from an expert on NXT. I hope you don't conclude that all PoS is smoke and mirrors just because people in one thread aren't expert.
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