Topic: PoB and long-term PoS cryptos are the best solution for Greece (Read 344 times)

Bitcoin is already being considered by many Greeks as a solution to save their savings from the effects of the financial crisis.

But there is a problem with BTC: BTC is very volatile by nature. The same thing applies to all Proof-of-work alternative currencies.

Proof of burn and long-term proof of stake currencies reward long-term investments. This is why they are potentially more stable than Proof of work currencies. There are more people hodling, and so there are less coins available for short-term pump and dump-type speculation.

Long term proof of stake currencies are altcoins that pay rewards only to participants that are willing to deposit coins for a long time. Peercoin, for example, only pays rewards to these that "park" or "stake" their coins in their wallet for 30 or more days.

Proof-of-burn currencies like Slimcoin are even more long-term oriented. In these systems you must consider a short-term loss burning coins for a long-term profit in the form of PoB rewards.

PoW currencies, in contrast, reward short-term thinking and short-term investments. You can mine a PoW currency for one minute, if you want, and take the reward if you're lucky.  The same applies to short-term PoS currencies that pay out rewards requiring low coin-day values (e.g. some hours or a few days).

Stability is important for an economy, specially in a scenario of a crisis. So if I were a Greek, I would strongly recommend investments in long-term PoS currencies like Peercoin and PoB coins like Slimcoin. They could also use pegged coins like BitUSD and Nubits.