Topic: [ANN][VRC] VeriCoin Proof of Stake-Time Currency | New Roadmap Released - page 624. (Read 1356166 times)

here is a very intresting article i found on the litecoin tread on POS what do you guys think??


Proof of Stake coins have many issues here are some:

PoS is not backed by anything other than the belief there are worth anything and there will be an endless supply of PoS coins because one created today does not have a significant advantage over on created tomorrow, next week, next month.......
What currently is happening is new coins are created with PoW, mined for a week until a fixed number is reached and then change to PoS and then you can claim your stake at buying xyz coin. The only advantage a coin released today has over on made sometime in the future is; somebody already bought into it. The advantage quickly disappears if the new coin has a better catch phrase a flashier webpage or bigger marketing capital....
There is no end in sight for stake claimed coins and all promising x % return if you know a bit of programming you will have your very one coin too and everyone can buy into your claim based coin completely deluding the marked.
Its a barrel without bottom and once it clicks by the herd run for the hills if you own a stake.   
 
With a PoS the richer get richer. The most significant flaw of any proof-of-stake system and any system that diminishes coin rewards, is it can't distribute currency from the hoarders to the users of the currency, thus it will end up with the hoarders (the banksters) accumulating all the coin and the currency usage dying.
This is because the wealthy spend a much lower % of their net worth than the masses do

PoS is a technological dead end. Once the coin is released the only thing to do is "claim your stake" no research, no new capital outside the buy in, no evolving industry..

PoS can NEVER remain decentralized. Satoshi's Proof-of-Work is the only known solution to the Byzantine General's Problem (was a known unsolved problem since at least the 1970s).

To 51% PoS is dead easy:
You start buying aggressively or "willy" style until you have 51% of a PoS coin, and then sell off your coins so that you no longer have 51%, but your history of having once owned 51% makes it possible to attack the network at any time in the future at next to no cost only some computing resources (and thus electricity costs, etc.).
As you once had a 51% stake, you can build a better blockchain than the other 49% can, starting from the point where you owned 51%. You develop this blockchain in secret, after you have sold off your coins (and profiting from it); and then release your secret blockchain to the world, and nodes will pick it up because it carries more stake than the 49% blockchain.  Now not only do you have your profit from the original sales of the coin, you have your 51% back (to the extent that it's worth anything).  Not all coins need to be in one address, in fact, doing so would prevent the attack in most PoS implementations.
Unlike bitcoin where everyone can see if anyone comes dangerously close to 51, in PoS its all hidden, an attack can and will happen incognito.
There is no way of knowing if any PoS chain is already "dead", as it could have been done at any-time in the past..   

But then there's is also the social 51% attack where a tiny majority hold a massive percentage of the currency. When this occurs the market is open to extensive manipulation for the benefit of the few, as with real world economics (the 1%).
NXT is a good example of the social 51% attack, the top 33 accounts hold 51% between them. The top 50 accounts hold 61.2%. I'm quite sure the top 1% of accounts (400 ish) hold almost everything, with the other 99% playing with spare change. source
In the case of nxt the coin will always remain at the mercy of alias "BCNext". And the other 71 aliases just got some nxt depending on the proportion of the bitcoins sent. As you can see here he received a total of 22 btc:
https://bitcointalksearch.org/topic/ann-nxt-descendant-of-bitcoin-303898
Interesting the 3rd post got a quote where the original post is missing. Most be a lot of posts deleted it seems.

Are all IPO coins scams? Whoever runs the IPO can send in x BTC with dozens or hundreds of fake accounts, get 90% of the coin count, then he pays nothing since all the BTC comes back to him anyway.  It's just some bogus license to create as big of a premine as you could possibly want.



PoW is a promise that x amount of energy has and will be used to make the coinis backed by energy, and energy is the only truly universally accepted wealth. There is no better backing than energy because everyone needs it, wants it and i will never have any problem selling it. To create a PoW coin you need x amount of energy and you can not cheat. The best you can hope for is to have  a more efficient miner. Because the energy has been spent, the coin has a base value (many other things on top) and is a kind of a storage of it which you can exchange.
(The same apply's for gold digging it up, storing..... only difference is it is awkward to exchange)
Remember u can't create something without work. This is simple physics. There is financial commitment in proof of work which gives it value.

so basiclly is you get staked every 8 hours and you dont take it out , at the end of the year you dont have x amount +2,2% but much much more.

devs are workin on it. As soon as people will set up their own ringnodes for decentralisation . In term of anonymity every mixing process provides the same lvl of anonymity and it doesnt matter if it is coinjoint or masternode or ringnodes...no normal person will track u and goverment will allways track you because you system chip , router and everything has a direct backdoor for nsa ..all this anon bullshit just fuggazy faggazy ..it all fairy dust

You gain it right away, and then it works for you on the next. You will gain and add your previous amount to your next total, thus compounding the benefits from each additional payment.

Instead of getting interest payments once a year that are off your baseline investment.


Which is why compounding interest is better than non compounding interest in terms of the holder. In this case though, the overall % is reasonably small. Enough to encourage use, but not enough to deflate the currency. at the low 2%, dilution shouldn't be a problem.

ok so what does compound intrest mean

This is b/c Verisend is not decentralised.  it's just a toy distraction from real anonymous protocols AFAIK.

Hmmm... how does verisend work?  If it's centralised then I don't think it's as good as DarkSend.

That's not true. Compound interest doesn't mean 60% interest. You don't get 2.2% every 8 hours... you get that per year. Compounded it's ~2.24% instead of 2.20.

usually compound intrest kills pos, for example if you get stake every 8 hours and you take your stake out after 365 days you will have 60% intrest on VRC.  Inflation can kill pos too,   there is no mininig investment involved , startup costs , electricity , etc.

how does he know? I dont think so

we all are desperately waiting 100,000 satoshi

I really dont care if has or not...... I dont like newbies come in and talking smack , on how much they made plus i made some chart research and the volume even taking crypsy, polo,bittrex and mint its not posible to make such profit, volume limits that so........

I cant believe in so deep decline, I already made orders @29,999 and @30,999 and @31,999

Because you can believe everything you read on the internet, amiright?

Also, whether you'd opt to believe it or not, you might be surprised at how much attention big money is paying to altcoins as opposed to Bitcoin itself these days.

But that is one of the downsides of places like this. Fact and fiction tend to get a little blurry in an online echo chamber.

I fully agree, its important not to omit mobile platforms

IE taking control of forum with his alias brigade, talking to himself, working in tandem to cause panic today. Lets see if anyone falls for such a bad act.

read his posts, he might doesnot lie, he may have much money

Mobile phones platforms are future of altcoins.
In developing countries like India, countries in Africa, nobody has a toilet or job but everybody has mobile phone with large screen

damn

Look at this guys post history, and nearly everyone here crying about the price gonna drop to nothing. They made it to obvious with these alias's /caugh IE

They been pumping, then bashing, then pumping... Min, VRC... and a couple other ones that a certain couple known manipulators been targetting.


Coincidence? Time and everything line up fairly well with PnD patterns. My god it just takes a minute of research to see right through these games.