This thread is nothing but PoW miner shills trying to hold on to their waning power, as the crypto world is increasingly moving toward the superior PoS system.
POS can be superior however most of these alt POS are awful. Fortunately the very 1st one pee pee coin is the best so far. However it could have been made better with no inflation. POS means people want to protect their existing coins. The bitcoin network today is not really protected by miners, it is protected by the owners of the largest amounts of coins. POS rewards those who keep their client open.
That's completely wrong.
Satoshi has allegedly the largest amount of coins, but has zero control over transactions.
He might decide to gain that control, but he would need to approach the hardware market and find lucrative deals or develop equipment himself, but so can do outside players with fiat. Even if he approaches the goal of total control over the network, his position will never be unchallenged.
Holding coins in PoW doesn't automatically translate to control, and gaining that control might be challenging.
I like the idea of reward for just using the client in PoS, but it is the control model, where an established inner circle of stakeholders will eventually maintain permanent hold on money flow, that bothers me.
IMO, use POS if you want a private members club, not a currency. Use POI if you want to simulate the introduction of black holes into a stable planetary system.
True enough.
So basically in your view, a bunch of profit crazy, no stake, PoW miners controlling the Bitcoin network is ok. But actual Bitcoin stakeholders controlling the Bitcoin networks is not ok?
There is a slight difference, crazy miners don't control, they compete to control the network!
Yes, I believe that those who feel enthusiastic and competitive, should be able to compete without permission
EDIT:
Oops! I just figured my definition of freedom
