DOGECOIN to switch to variant of Proof of Stake (PoS) - page 2.

El Dude

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Quote from: thatguy3 on July 03, 2014, 05:34:15 PM

Quote from: El Dude on July 03, 2014, 05:14:03 PM

just merge mine with Litecoin stop being retards or get 51% when you're block rewards halve in 10 days and even more miners leave.

Merge mining with Litecoin puts a really high sell pressure on Dogecoin, effectively guaranteeing a low price forever.

Not to mention Coinotron does not breed a lot of confidence.

having no hard cap and billions of coins guarantees a low price forever.

CoinHoarder

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In Cryptocoins I Trust

Quote from: thatguy3 on July 03, 2014, 05:34:15 PM

Quote from: El Dude on July 03, 2014, 05:14:03 PM

just merge mine with Litecoin stop being retards or get 51% when you're block rewards halve in 10 days and even more miners leave.

Merge mining with Litecoin puts a really high sell pressure on Dogecoin, effectively guaranteeing a low price forever.

Not to mention Coinotron does not breed a lot of confidence.

I agree that switching to PoS or a hybrid PoW/PoS would be better than being merge mined.

I am biased though because I think PoS > PoW all day long... that is until electrical efficiency and wasted processing power can be worked out with PoW.

Anyways... you guys should figure it out fast before the incentive to secure the Dogecoin block chain is gone.

mazuma

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Activity: 311

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Quote from: ShibecoinSucks on June 25, 2014, 12:33:56 PM

Quote from: manfred on June 25, 2014, 12:14:59 PM

Quote from: ignitiondefect on June 25, 2014, 11:36:49 AM

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

+1

POS coins are just a fad, the only reason most coins being released are POS is because of how popular Blackcoin was/is. Every damn greedy developer is trying to capitalize on this. Same goes for the "anon coins" this is just bullstuff fluff for you hungry "investors" to buy up and hold like morons so the developers and whales can transition your money to their pockets. There hasn't been any true innovation in alt coins for awhile, and it certainly isn't POS systems or ANON features. Grow a brain people.

You cant grow a brain you idiot

thatguy3

newbie

Activity: 51

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Quote from: El Dude on July 03, 2014, 05:14:03 PM

just merge mine with Litecoin stop being retards or get 51% when you're block rewards halve in 10 days and even more miners leave.

Merge mining with Litecoin puts a really high sell pressure on Dogecoin, effectively guaranteeing a low price forever.

Not to mention Coinotron does not breed a lot of confidence.

El Dude

hero member

Activity: 770

Merit: 500

just merge mine with Litecoin stop being retards or get 51% when you're block rewards halve in 10 days and even more miners leave.

galbros

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Given how the developers treated dogecoin with the removal of the cap, nothing is too crazy to be inflicted on this coin and its poor bag holders.

I'm glad so many think this would be an improvement. I sort of wish they would just be reliable enough to do what they say they are going to do.

thatguy3

newbie

Activity: 51

Merit: 0

An hybrid where the initial distribution is done through PoW for about a year and the security is later enforced by PoS seems quite fair to me.
[/quote]

That is essentially what we are seeing here.

lynn_402

sr. member

Activity: 462

Merit: 253

Quote from: bitjedi on June 26, 2014, 08:15:35 PM

Quote from: svojoe on June 26, 2014, 04:30:01 PM

Quote from: manfred on June 25, 2014, 12:14:59 PM

Quote from: ignitiondefect on June 25, 2014, 11:36:49 AM

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

Uh... how is this different from any other crypto?

POS is coming to a coin near you, unless traders and manipulators just keep squeezing it forever.

POW is a tax on holders, No matter how slow the coin-generation it dilutes your value every block every day. Its also centralized due to mining consolidating smaller and smaller.

POS is true asic resistance (can't mine it ha!) Its also true decentralization. Its also non-inflationary if its zero/low interest (blackcoin is only 1%)

POW is outdated, its first generation crypto tech with first generation wasteful-ness and security risks. (51% is a real and daily threat. Lets see you 51% blackcoin) It just takes a long time for the the world to catch up. Btc is still new to 99.8% of humanity. So it will continue to get first mover recognition.. for a while.

POS does not equal fair distribution to the masses. That's the big difference I guess.

An hybrid where the initial distribution is done through PoW for about a year and the security is later enforced by PoS seems quite fair to me.

bitjedi

member

Activity: 109

Merit: 10

Quote from: svojoe on June 26, 2014, 04:30:01 PM

Quote from: manfred on June 25, 2014, 12:14:59 PM

Quote from: ignitiondefect on June 25, 2014, 11:36:49 AM

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

Uh... how is this different from any other crypto?

POS is coming to a coin near you, unless traders and manipulators just keep squeezing it forever.

POW is a tax on holders, No matter how slow the coin-generation it dilutes your value every block every day. Its also centralized due to mining consolidating smaller and smaller.

POS is true asic resistance (can't mine it ha!) Its also true decentralization. Its also non-inflationary if its zero/low interest (blackcoin is only 1%)

POW is outdated, its first generation crypto tech with first generation wasteful-ness and security risks. (51% is a real and daily threat. Lets see you 51% blackcoin) It just takes a long time for the the world to catch up. Btc is still new to 99.8% of humanity. So it will continue to get first mover recognition.. for a while.

POS does not equal fair distribution to the masses. That's the big difference I guess.

svojoe

legendary

Activity: 968

Merit: 1000

einc.io

Quote from: manfred on June 25, 2014, 12:14:59 PM

Quote from: ignitiondefect on June 25, 2014, 11:36:49 AM

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

Uh... how is this different from any other crypto?

POS is coming to a coin near you, unless traders and manipulators just keep squeezing it forever.

POW is a tax on holders, No matter how slow the coin-generation it dilutes your value every block every day. Its also centralized due to mining consolidating smaller and smaller.

POS is true asic resistance (can't mine it ha!) Its also true decentralization. Its also non-inflationary if its zero/low interest (blackcoin is only 1%)

POW is outdated, its first generation crypto tech with first generation wasteful-ness and security risks. (51% is a real and daily threat. Lets see you 51% blackcoin) It just takes a long time for the the world to catch up. Btc is still new to 99.8% of humanity. So it will continue to get first mover recognition.. for a while.

thatguy3

newbie

Activity: 51

Merit: 0

Quote from: lynn_402 on June 26, 2014, 03:21:45 PM

That's probably the best way to keep the network secure, considering that our inflation will be considerably less than Litecoin which has a quite higher market cap, and also considering the ongoing centralization of mining which leave much hashpower in the hands of few miners.

I'd support this.

Something will have to be changed soon in the future. I am glad they are making decisions.

Dogecoin STILL has the most unique addresses sending coins than any other altcoin. EVEN Litecoin.
http://bitinfocharts.com/comparison/sentbyaddress-ltc-doge.html

There are still tons of users and the potential is there.

lynn_402

sr. member

Activity: 462

Merit: 253

That's probably the best way to keep the network secure, considering that our inflation will be considerably less than Litecoin which has a quite higher market cap, and also considering the ongoing centralization of mining which leave much hashpower in the hands of few miners.

I'd support this.

nikola384

member

Activity: 76

Merit: 10

Quote from: ChuckOne on June 25, 2014, 12:34:38 PM

Quote from: manfred on June 25, 2014, 11:31:41 AM

Quote from: thatguy3 on June 25, 2014, 09:30:03 AM

Developer support is present: http://www.reddit.com/r/dogecoindev/comments/289ki5/okay_lets_talk_proofofstake/cidfpj8

Dogecoin community support seems to be present for the switch to non-vanilla PoS.

Discussion on when this should occur is ongoing, but the latest time would be at the static block rewards near the end of 2014.

This would be a major transition for Dogecoin.

I have no PoS coins in my portfolio and never will have one, so a move like this leaves me no choice but to sell out at first opportunity if it eventuates. I might as well buy a stamp collection

Lol? Why?

Indeed. Why? They are the future, imho.
Good for DOGE if they get it!

thatguy3

newbie

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It won't be pure PoS.

It may be a PoS/PoW hybrid.

ChuckOne

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☕ NXT-4BTE-8Y4K-CDS2-6TB82

Quote from: manfred on June 25, 2014, 12:14:59 PM

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

It costs also nothing to create a PoW coin.

Btw. it is even less, because you do not need Genesis Transactions.

ChuckOne

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Activity: 364

Merit: 250

☕ NXT-4BTE-8Y4K-CDS2-6TB82

Quote from: manfred on June 25, 2014, 11:31:41 AM

Quote from: thatguy3 on June 25, 2014, 09:30:03 AM

Developer support is present: http://www.reddit.com/r/dogecoindev/comments/289ki5/okay_lets_talk_proofofstake/cidfpj8

Dogecoin community support seems to be present for the switch to non-vanilla PoS.

Discussion on when this should occur is ongoing, but the latest time would be at the static block rewards near the end of 2014.

This would be a major transition for Dogecoin.

I have no PoS coins in my portfolio and never will have one, so a move like this leaves me no choice but to sell out at first opportunity if it eventuates. I might as well buy a stamp collection

Lol? Why?

ShibecoinSucks

member

Activity: 112

Merit: 10

Quote from: manfred on June 25, 2014, 12:14:59 PM

Quote from: ignitiondefect on June 25, 2014, 11:36:49 AM

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

+1

POS coins are just a fad, the only reason most coins being released are POS is because of how popular Blackcoin was/is. Every damn greedy developer is trying to capitalize on this. Same goes for the "anon coins" this is just bullstuff fluff for you hungry "investors" to buy up and hold like morons so the developers and whales can transition your money to their pockets. There hasn't been any true innovation in alt coins for awhile, and it certainly isn't POS systems or ANON features. Grow a brain people.

manfred

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Activity: 966

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Energy is Wealth

Quote from: ignitiondefect on June 25, 2014, 11:36:49 AM

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

ignitiondefect

full member

Activity: 145

Merit: 100

Why don't you like coins with POS?

manfred

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Activity: 966

Merit: 1001

Energy is Wealth

Quote from: thatguy3 on June 25, 2014, 09:30:03 AM

Developer support is present: http://www.reddit.com/r/dogecoindev/comments/289ki5/okay_lets_talk_proofofstake/cidfpj8

Dogecoin community support seems to be present for the switch to non-vanilla PoS.

Discussion on when this should occur is ongoing, but the latest time would be at the static block rewards near the end of 2014.

This would be a major transition for Dogecoin.

I have no PoS coins in my portfolio and never will have one, so a move like this leaves me no choice but to sell out at first opportunity if it eventuates. I might as well buy a stamp collection

Topic: DOGECOIN to switch to variant of Proof of Stake (PoS) - page 2. (Read 9799 times)