Topic: [PPC] The Future of Peercoin - Sunny King - page 2. (Read 11698 times)

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I don't agree with this at all. We need to understand that these networks and the protocols represent real world phenomena. In respect to bitcoin, the network is a virtual representation of the gold mining process. Gold mining in the context of the gold rushes in America, just like bitcoin mining when the software first came out, was a very democratic process in which almost anyone could attempt to search for gold. As the more easily reachable gold became collected it meant that miners needed more expensive equipment to acquire the gold beneath the earths surface. This transition lends itself to the monopolization of gold mining, in the same way that there is a monopoly in the bitcoin mining today. There are two mining pools that already comprise more than 50% of the network hashrate. This does not augur well for the security of the network, which is why I am more of a proponent of the ppc network.

Looking at peercoin we also see a similar phenomena of unfairness, as the network ostensibly stands as a virtual representation of our current economic system. The network protocol uses POS to both encourage saving while simultaneously encouraging spending through the 1% inflation. If our societies, particularly developed nations such as the US where economic systems of this sort have traditionally been implemented, are becoming more an more stratified through these systems, what would make someone think that in the virtual realm this phenomena would not also hold true?

With these network protocols we have the means by which to implement fully automated economics systems that achieve the re distributive properties that are attempted through taxation and welfare. Perhaps if coin age and the number of coins saved did not equally factor into stake, there would be a more equitable system.  

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lol

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May it be the case that some didn't read the initial post in this thread (what in general can be a good idea, and definitely is in this case)?
For convenience: https://bitcointalksearch.org/topic/m.3448964

And for even more convenience:

And as there has no new discussion started yet, you might save your time and your wallet addresses for later.
...I doubt it is conidered meaningful posting barely more than an address

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Thanks...

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ty 

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thanks

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