http://yadayadayadaecon.com/concept/free-entry-and-exit/
The mechanism by which this roll back takes place in NXT is through trusted peer lists and a 720 block fork limit. (Not through formal "checkpoints" like I expected.)
So PoS does not achieve trust-free globally decentralized consensus, which is the entire point of the N@S criticism.
http://download.wpsoftware.net/bitcoin/pos.pdf
Though I think I'm preaching to the choir...
Serious research into POS can be found here >>> https://bitcointalksearch.org/topic/nothing-at-stake-long-range-attack-on-proof-of-stake-consensus-research-897488
You can even play with the models to check the findings yourself. I love that PDF btw, esp the bit at the end where they admit they have no rigorous analysis to back up their claims. Only intuition
Please consolidate comment on the above to the link >>> https://bitcointalksearch.org/topic/nothing-at-stake-long-range-attack-on-proof-of-stake-consensus-research-897488