Can someone explain to me how PoS works?

Crestington

legendary

Activity: 882

Merit: 1024

Quote from: Daedelus on May 09, 2015, 02:26:54 PM

Quote from: spartak_t on May 09, 2015, 03:48:26 AM

Quote from: Crestington on May 09, 2015, 03:46:17 AM

Because POS is also much better than POW because you don't get the sell pressure and when you do it's from people who already invested.

OP asked how POS works.

Can we agree that PoS has more positive things than flaws (like inflation, on which Daedelus is avid supporter Grin

)?

You haven't been reading the posts in this thread. Troopnetpt and I are against inflation, you are the only one in favour.

It would help if you stopped trying to distort others views and just present your own.

I am in favor of inflation because if you have higher inflation then people will pull their Coins off the exchanges in order to Stake them which reduces the amount of sell orders on the exchange and increases the security of the network. When you have higher inflation (the sweet spot), there is enough liquidity that you have high volume on the exchange and people can trade on the exchanges and make profits of buying and selling but if bought it a little high, then can hold on to them and Stake and still gain profit later on. A lot of buying and selling (volume) creates distribution and over time it distributes the Coin more evenly provided there is also a good amount of development work happening. Very few people are going to buy and hold on to any Coin forever, especially if they are building a good amount of Coins and the price is rising, if you bought 1 btc worth and now it's worth 10 btc then you would probably sell some to make ROI.

Scaccomatt0

legendary

Activity: 1120

Merit: 1000

https://cryptoworld.io

I need to keep up this thread to better understand how POS works.
How is a coin/block in a wallet selected to create the next block?
More coins in a wallet, more age the coins, more weight and so more chance to be selected. But what about the hash and mathematical calculus? Is there a paper or something else where to study on?

thanks

Crestington

legendary

Activity: 882

Merit: 1024

Quote from: photon_coin on May 09, 2015, 03:25:34 PM

I cannot comment on nxt since unfamiliar with how the code works, never had time to review the source....

That being said, pos fails the byzantine generals problem so while I think it has a lot of great ideas and I used to think it was cool ....

I feel differently now, proof of work is the best...

For more on the Byzantine Generals Dilema http://pages.cs.wisc.edu/~sschang/OS-Qual/reliability/byzantine.htm

I disagree because large holders would sell for profit if the price went high enough and are sometimes forced to sell due to economic issues (rent, bills etc.)

achimsmile

legendary

Activity: 1225

Merit: 1000

Quote from: photon_coin on May 09, 2015, 03:25:34 PM

pos fails the byzantine generals problem

Could you elaborate what makes you think that?

photon_coin

sr. member

Activity: 310

Merit: 256

Photon --- The First Child Of Blake Coin --Merged

I cannot comment on nxt since unfamiliar with how the code works, never had time to review the source....

That being said, pos fails the byzantine generals problem so while I think it has a lot of great ideas and I used to think it was cool ....

I feel differently now, proof of work is the best...

For more on the Byzantine Generals Dilema http://pages.cs.wisc.edu/~sschang/OS-Qual/reliability/byzantine.htm

Daedelus

hero member

Activity: 574

Merit: 500

Quote from: spartak_t on May 09, 2015, 03:48:26 AM

Quote from: Crestington on May 09, 2015, 03:46:17 AM

Because POS is also much better than POW because you don't get the sell pressure and when you do it's from people who already invested.

OP asked how POS works.

Can we agree that PoS has more positive things than flaws (like inflation, on which Daedelus is avid supporter Grin

)?

You haven't been reading the posts in this thread. Troopnetpt and I are against inflation, you are the only one in favour.

It would help if you stopped trying to distort others views and just present your own.

Crestington

legendary

Activity: 882

Merit: 1024

Quote from: spartak_t on May 09, 2015, 04:23:55 AM

Quote from: Crestington on May 09, 2015, 04:13:51 AM

Quote from: ?!bennscammed!? on May 08, 2015, 05:58:30 AM

and also i want to let you know that today i doubled my holdings just by staking Grin

Yeah, I've checked last posts on PayCon while I was looking on it's specs. Kinda crazy interest.

Well I think you may be able to get away with higher interest if it's a static reward because the reward per year reduces as the money supply grows. If you have high compounding interest then it just goes to the floor and creates a revolving door at 1 Satoshi.

spartak_t

legendary

Activity: 1960

Merit: 1176

@FAILCommunity

Quote from: Crestington on May 09, 2015, 04:13:51 AM

Quote from: ?!bennscammed!? on May 08, 2015, 05:58:30 AM

and also i want to let you know that today i doubled my holdings just by staking Grin

Yeah, I've checked last posts on PayCon while I was looking on it's specs. Kinda crazy interest.

Crestington

legendary

Activity: 882

Merit: 1024

Quote from: spartak_t on May 09, 2015, 03:48:26 AM

Quote from: Crestington on May 09, 2015, 03:46:17 AM

Because POS is also much better than POW because you don't get the sell pressure and when you do it's from people who already invested.

OP asked how POS works.

Can we agree that PoS has more positive things than flaws (like inflation, on which Daedelus is avid supporter Grin

)?

I didn't read the whole thread but I think it has more positives than flaws.

Quote from: ?!bennscammed!? on May 08, 2015, 05:58:30 AM

and also i want to let you know that today i doubled my holdings just by staking Grin

spartak_t

legendary

Activity: 1960

Merit: 1176

@FAILCommunity

Quote from: Crestington on May 09, 2015, 03:46:17 AM

Because POS is also much better than POW because you don't get the sell pressure and when you do it's from people who already invested.

OP asked how POS works.

Can we agree that PoS has more positive things than flaws (like inflation, on which Daedelus is avid supporter Grin

)?

Crestington

legendary

Activity: 882

Merit: 1024

Quote from: spartak_t on May 09, 2015, 02:59:15 AM

Quote from: Crestington on May 09, 2015, 02:18:33 AM

POS inflation is an automatic Ponzi scheme, it is a circle jerk and people who Stake their Coins receive a larger dose of the circle jerk until they have the opportunity to dump on new bagholders, the rate at which the largest bagholders gain majority depends on the inflation rate.

Then why PayCon is PoS coin?

Because POS is also much better than POW because you don't get the sell pressure and when you do it's from people who already invested.

OP asked how POS works.

spartak_t

legendary

Activity: 1960

Merit: 1176

@FAILCommunity

Quote from: Crestington on May 09, 2015, 02:18:33 AM

POS inflation is an automatic Ponzi scheme, it is a circle jerk and people who Stake their Coins receive a larger dose of the circle jerk until they have the opportunity to dump on new bagholders, the rate at which the largest bagholders gain majority depends on the inflation rate.

Then why PayCon is PoS coin?

Crestington

legendary

Activity: 882

Merit: 1024

Quote from: Daedelus on May 08, 2015, 11:04:13 AM

Quote from: spartak_t on May 08, 2015, 10:47:49 AM

Quote from: Daedelus on May 08, 2015, 10:33:06 AM

Interest (inflating the coin supply) has been the theme. Troopnetpt thinks creating coins constantly is wrong, you disagreed. I agree with Troopnetpt.

Do you still think 3% is the same as getting 3% in a bank? I've shown how it isn't but you glossed over it.

If a coin has good fundamentals, development and adoption it with probably do well. It isn't unique to POS or dependent on inflation. So why is having an extra 3% number of a coin (while each coin is worth a corresponding % less) important? Logically, you must think the inflation is responsible. But this goes against economics (and maths on a more basic level as you have a larger denominator when dividing the market cap by supply).

1. Disagreed? You just can't be more wrong. Watch this simple video created personally by me. It's not state-of-the-art, but I think it will prove what I am thinking about creating more coins.
2. NO! I just gave it like example. You can't compare PoS interest with the one who is offered by banks just like you can't really compare PoS with inflation. I was agreed it is an inflation, but it should be treated different. That's it.
3. Again NO. I already explained why PoS is needed for some coins. Some people posted tutorials on how it works, but I believe that you know what it means. PoS should be considered for something good, not just call it inflation.
4. IF given coin remains stable @ price it's market cap should rise steadily, which means that if we accept that the coin is business, then your business is getting bigger and therefore receive attention from some more people.

How would you describe 'I think you are wrong" if not a disagreement?

Why should POS inflation be treated differently to inflation?

Why would a currency remain stable if it id known new coins are being created? G would have to be bigger than I, if you can manage that then why have I?

Am I being trolled? Cheesy

if not, explicit answers to these questions would help.

POS inflation is an automatic Ponzi scheme, it is a circle jerk and people who Stake their Coins receive a larger dose of the circle jerk until they have the opportunity to dump on new bagholders, the rate at which the largest bagholders gain majority depends on the inflation rate.

Daedelus

hero member

Activity: 574

Merit: 500

POS is good technology, it is an algorithm. POS inflation is a method of increasing the coin supply. At least you no longer think it is the same as having money in the bank.

spartak_t

legendary

Activity: 1960

Merit: 1176

@FAILCommunity

I'm not trying to do anything my friend. I already said what is my opinion about PoS and that's it. You fail to accept it as a good technology and you preffer to just call it inflation. Why I should waste more time trying to explain something, which I already did numerous times.

Daedelus

hero member

Activity: 574

Merit: 500

I give too. Maybe come back tomorrow to answer the questions, otherwise looks like your trying to obfuscate and stall rather than trying to make yourself clear.

spartak_t

legendary

Activity: 1960

Merit: 1176

@FAILCommunity

I just give up. You are either barabbas or some relative of him. Grin

Daedelus

hero member

Activity: 574

Merit: 500

Maybe define these terms too as you use then interchangably but they mean different things

POS
Pos inflation

Daedelus

hero member

Activity: 574

Merit: 500

Quote from: spartak_t on May 08, 2015, 10:47:49 AM

Quote from: Daedelus on May 08, 2015, 10:33:06 AM

Interest (inflating the coin supply) has been the theme. Troopnetpt thinks creating coins constantly is wrong, you disagreed. I agree with Troopnetpt.

Do you still think 3% is the same as getting 3% in a bank? I've shown how it isn't but you glossed over it.

If a coin has good fundamentals, development and adoption it with probably do well. It isn't unique to POS or dependent on inflation. So why is having an extra 3% number of a coin (while each coin is worth a corresponding % less) important? Logically, you must think the inflation is responsible. But this goes against economics (and maths on a more basic level as you have a larger denominator when dividing the market cap by supply).

1. Disagreed? You just can't be more wrong. Watch this simple video created personally by me. It's not state-of-the-art, but I think it will prove what I am thinking about creating more coins.
2. NO! I just gave it like example. You can't compare PoS interest with the one who is offered by banks just like you can't really compare PoS with inflation. I was agreed it is an inflation, but it should be treated different. That's it.
3. Again NO. I already explained why PoS is needed for some coins. Some people posted tutorials on how it works, but I believe that you know what it means. PoS should be considered for something good, not just call it inflation.
4. IF given coin remains stable @ price it's market cap should rise steadily, which means that if we accept that the coin is business, then your business is getting bigger and therefore receive attention from some more people.

How would you describe 'I think you are wrong" if not a disagreement?

Why should POS inflation be treated differently to inflation?

Why would a currency remain stable if it id known new coins are being created? G would have to be bigger than I, if you can manage that then why have I?

Am I being trolled? Cheesy

if not, explicit answers to these questions would help.

spartak_t

legendary

Activity: 1960

Merit: 1176

@FAILCommunity

Quote from: Daedelus on May 08, 2015, 10:33:06 AM

Interest (inflating the coin supply) has been the theme. Troopnetpt thinks creating coins constantly is wrong, you disagreed. I agree with Troopnetpt.

Do you still think 3% is the same as getting 3% in a bank? I've shown how it isn't but you glossed over it.

If a coin has good fundamentals, development and adoption it with probably do well. It isn't unique to POS or dependent on inflation. So why is having an extra 3% number of a coin (while each coin is worth a corresponding % less) important? Logically, you must think the inflation is responsible. But this goes against economics (and maths on a more basic level as you have a larger denominator when dividing the market cap by supply).

1. Disagreed? You just can't be more wrong. Watch this simple video created personally by me. It's not state-of-the-art, but I think it will prove what I am thinking about creating more coins.
2. NO! I just gave it like example. You can't compare PoS interest with the one who is offered by banks just like you can't really compare PoS with inflation. I was agreed it is an inflation, but it should be treated different. That's it.
3. Again NO. I already explained why PoS is needed for some coins. Some people posted tutorials on how it works, but I believe that you know what it means. PoS should be considered for something good, not just call it inflation.
4. IF given coin remains stable @ price it's market cap should rise steadily, which means that if we accept that the coin is business, then your business is getting bigger and therefore receive attention from some more people.

Topic: Can someone explain to me how PoS works? (Read 2927 times)