@fullzero is probably right and POS is not a good scheme (most likely), but I would like someone try and see what happens just for a sake that all possibilities are investigated.
You will still need a good computer and reliable connection to participate, so computing is involved, it is not exactly a bank account.
Regarding numbers, I think that they aim at 1-2% yearly coin addition (eth). This comes from not every coin participating in POS. If such thing happens soon, ethereum would actually have lower current inflation rate in comparison with bitcoin. Participating coins would be paid something around 5%, more or less. Theoretically, you can POS-mine with CPU and POW mine with GPU, so why not?
Finally, Ethereum founders ALWAYS maintained that ethereum would eventually go POS, so miners should have been prepared for a transition.
Waves is using POS and LPOS right now (Leased Proof of Stake). Community is torn between "Hey i'm making money by doing nothing but leaving my coins in my wallet" and "Wow, the rewards for leasing are really shitty. Fees generated are low and we need more transactions." So far the general consensus is that it is a good thing, and over time with more adoption, POS will net a lower return than POW mining but will promote accumulation of coins. If people are hording coins to get better rewards from POS than that creates a bearish market place.
If Eth goes to POS, miners will be pissed and accumulators will be happy. The bad part is that probably 75% of all transactions done in Eth are due to mining and redistributing mining rewards anyway. So if going to POS means less transactions, then less rewards for staking. Am I correct on this?
close enough.
pow is backed by mining gear and power usage
pos is backed by ? or as you say less transactions.
I look at this from viewpoint of what keeps prices of coin high?
answer people that want prices high try to get the coins by mining or purchase of coins.
if you pull mining out. you lose the interest of miners. and this means
Intel says fuck that coin no one buys my gear to mine it
Amd says fuck that coin no one buys my gear to mine it
Nvidia says fuck that coin no one buys my gear to mine it
Asus
Asrock
Biostar
Gigabyte
Msi
Evga
Sapphire
Zotac
Diamond
Palit
Galax
Corsair
Seasonic
Antec
Geil
Mushkin
any a lot of other companies simply won't have a thing to gain by supporting the coin that left them and became pos
Pos = proof of stake to most to me piece of shit.
I already learned all this when I got deep into PPC
And they were both POW and POS. I pointed all my sidehack compac sticks at them and hit a few solo blocks.
I then rented some heavy th say 100th and hit a lot of blocks I had 2000 PPC all staked and reaching 99% certainty to divest 1% interest or a big 20 coins about 10 dollars.
They then said no more mac wallets I had to covert to a windows wallet. And not matter what I did I would lose my 99% certainty of 1% interest on the 2000 coins since I would need to pull them from the wallet and put them into the new wallet.
I complained and posted on this in the PPC forums did a bit of follow up studied PPC and pos rules more decided to never get involved in pos cash the PPC coins out and have not had a single interest in pos coins ever again.
to date no pos coin thrives because they are basically a non regulated bank.
