PoS coupons minted at mining, non-transferable, with wide distribution... could be the answer to the huge energy sink of PoW mining.
Topic: POW vs POS? - page 4. (Read 4115 times)
Quote
pow = a couple of giant mining farms run by millionaires make money and everyone else saw their investment collapse 70% in the last year thanks to these farms dumping most of the million or so newly generated coins on exchange to pay their costs.
POS = single entity of millionaire who has amassed more than 51% would be more centralized and worse than a pow coin and everyone else saw their investment at the mercy of this millionaire
Quote
pow = a couple of giant mining farms run by millionaires make money and everyone else saw their investment collapse 70% in the last year thanks to these farms dumping most of the million or so newly generated coins on exchange to pay their costs.
The mining farmers are the first geniuses to figure out how to outcompete other miners. To the victor go the spoils. This is a celebration of capitalism!
what happy to BTC 
The thing about PoS is that, while it is an interesting concept, it just isn't secure/fair enough. A PoW block provides security in that you know an amount of energy has been expended in generating it. A PoS block only shows that somebody has coins.
Fairness is a little more subjective, but still a major point. To incentivize "staking," there's usually an amount of "interest" (for lack of a better word) rewarded to the block finder. Now imagine that applied to Bitcoin, and how you would explain it to people:
Where do new coins come from?
People who already have coins. They generate new coins at no cost. People who have the most coins will generate the most new coins.
Isn't that exactly how things already work with fiat, but with 'coins' instead of money?
You're very insightful, rhetorical device.
Fairness is a little more subjective, but still a major point. To incentivize "staking," there's usually an amount of "interest" (for lack of a better word) rewarded to the block finder. Now imagine that applied to Bitcoin, and how you would explain it to people:
Where do new coins come from?
People who already have coins. They generate new coins at no cost. People who have the most coins will generate the most new coins.
Isn't that exactly how things already work with fiat, but with 'coins' instead of money?
You're very insightful, rhetorical device.
i just found this
Quote
Proof-of-stake systems are also not as safe as a simplified explanation of them might make them out to be. If there are 1,000 coins in circulation, but only 100 coins staked, an attacker would only need 101 staked coins to perform the attack.
i'm sorry if i'm hitting some nerves here because i know its a sensitive subject. what are the disadvantages of POS and why is POW so important? POW is a fun game, but is all this expensive POW really necessary to keep a functional & secure coin?
Jump to: