It needs more people using it everyday as a payment system instead of miners dumping the coin as soon as they're mined.
Exactly. This is why PoS coins without inflation are not falling that much now and even rising BTC-wise.
I really really enjoy PoS tbh.
Only started messing around with them since Just-dice started taking CLAM.
It seems to me it prevents a lot of economy leakage through electric bills and ancient miners (seriously when I look at a miner now days it reminds me of a 1970's printer.)
I imagine you'd have a large number of Bitcoin miners who would be seriously butthurt about PoS.
Seems silly to expect BTC to go global and WANT to give that much money to the fat cat electric companies rather than reward your own kind.
I "mine" about a Bitcoin a day using PoS right now completely eco friendly and no huge electric bill.
Yeah, the PoW system is looking more nutty to me every day. It's not just the wastefulness, scalability, or the equipment cost in upgrades and failures but the fact that eventually it has to become centralized. I have been here through every 51% scare starting with Deepbit and understand this system just can't be controlled with "goodwill" anymore. The arguments for the wasteful energy use are always beaten down with the claim that the modern banking system uses at least that much energy or more to move money around. Aren't we trying to be better than the current system though? The "we're the same as they are" argument just seems stupid to me. I don't know if PoS is the answer but something needs to change.
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