Nxt is the only real chance for poor to earn some good money now.
What? Scam coins are a real chance for poor to earn some money? 
Topic: Proof Of Stake Coins are killing this community - page 2. (Read 5223 times)
They should make a coin that decays back to the foundation account or miners if not used. This would solve the problem of coins that ended up in limbo accounts (retreivable) and stimulate trading, spending and the economy 
The foundation can then use this money to invest in better utilities and marketing or if miners retreive them it will still make sense to mine.
PM me for a deal on the rights to this new idea
The foundation can then use this money to invest in better utilities and marketing or if miners retreive them it will still make sense to mine.
PM me for a deal on the rights to this new idea
Orly? Poor will get richer mining Btc? Shouldn't they find $5-6K on a miner, wait two months for delivery and hope not to lose everything because of delays?
Nxt is the only real chance for poor to earn some good money now.
Proof Of Stake Coins are probably killing all those lousy clones.
Total USD Transaction — 38,783,623. Top 5 crypto-coins by market share representing 95% of the Crypto-coin market.
Bitcoin: 69%
Litecoin: 21%
Peercoin: 2.5%
Namecoin: 1.4%
Nxt : 1.2%
Nxt is the only real chance for poor to earn some good money now.
Proof Of Stake Coins are probably killing all those lousy clones.
Total USD Transaction — 38,783,623. Top 5 crypto-coins by market share representing 95% of the Crypto-coin market.
Bitcoin: 69%
Litecoin: 21%
Peercoin: 2.5%
Namecoin: 1.4%
Nxt : 1.2%
and in POW the rich don't get richer 
Not exponentially. They only get richer if the coin value goes up. At least proof of work early adopters don't get more coins for doing nothing.
I was refering to the cost of mining equip, kinda think now it takes alot of $$$ to mine btc.
Don't forget that the people with mining equip will make a LOAD more than people that try to mine from their home laptop, certainly the ones that contain Nvidia graphics for gaming where we get half or less of the hashes compared to someone that had an AMD Graphics card.
Maybe someone should create a coin that favors Nvidia graphics over AMD graphics, if that is even possible.
Also don't forget how early on in any AltCoin's life that follow the LTC/BTC trail how someone with a miner compares to someone without one, either by pool or soloing during the low difficulty phase of a coin.
and in POW the rich don't get richer
Not exponentially. They only get richer if the coin value goes up. At least proof of work early adopters don't get more coins for doing nothing.
I was refering to the cost of mining equip, kinda think now it takes alot of $$$ to mine btc.
What do we *REALLY* need?
1. A coin with a 5sec block time for real-world transactions.
2. A coin with a rate of inflation that is on par with economic growth.
3. A coin that support multi-hash signing so that we can embed a distributed exchange in the program.
1. A coin with a 5sec block time for real-world transactions.
2. A coin with a rate of inflation that is on par with economic growth.
3. A coin that support multi-hash signing so that we can embed a distributed exchange in the program.
+1
Spot on. I would add just one thing: needs to be distributed, hence block must be generated with consumer grade equipment. If you allow specialized hardware then distributed network goes out the window.
and in POW the rich don't get richer
Not exponentially. They only get richer if the coin value goes up. At least proof of work early adopters don't get more coins for doing nothing.
Unlike this system:
Quote
"Peercoin is designed so that it will theoretically experience a steady 1% "decentralized" inflation per year (inflation for each user is proportional to the number of coins they have), yielding an unlimited number of coins. This is a combined result of the proof-of-stake minting process, and scaling of mining difficulty with popularity.[1] Although Peercoin technically has a cap of 2 billion coins, it is only for consistency checking, and the cap is unlikely to be reached for the foreseeable future. If the cap were to be reached, it could easily be raised, hence for all practical purposes Peercoin can be considered to have inflation of 1% per year, with a limitless money supply."
- Referenced Wikipedia article: http://en.wikipedia.org/wiki/Peercoin
and in POW the rich don't get richer
Freicoin?
We are being led way off-field by promoting Proof Of Stake coins in this community. While I understand there is a efficiency problem with PoW coins, all we are doing by using PoS is to give altcoins a bad name. They inherently make the rich richer and keep the poor poorer. I understand the burning desire to reward the early adopters, but we are turning into a bunch of vultures rather than creating a coin that fixes Bitcoin's problems.
1. PoS creates even higher volatility than what we are seeing in Bitcoin by concentrating wealth and dissuading actual spend.
2. PoS encourages pump-and-dump, and members are behaving like they've never heard of a pyramid scheme before. "psst, the more you promote the product, the more we'll give you. Oh, and the more you buy, the more you can make." WTF!
3. PoW doesn't have to be useless computation. Sunny has proved this with Primecoin (although it's not the *most* useful thing) - I'm keeping an eye out for a better copy of Primecoin.
What do we *REALLY* need?
1. A coin with a 5sec block time for real-world transactions.
2. A coin with a rate of inflation that is on par with economic growth.
3. A coin that support multi-hash signing so that we can embed a distributed exchange in the program.
1. PoS creates even higher volatility than what we are seeing in Bitcoin by concentrating wealth and dissuading actual spend.
2. PoS encourages pump-and-dump, and members are behaving like they've never heard of a pyramid scheme before. "psst, the more you promote the product, the more we'll give you. Oh, and the more you buy, the more you can make." WTF!
3. PoW doesn't have to be useless computation. Sunny has proved this with Primecoin (although it's not the *most* useful thing) - I'm keeping an eye out for a better copy of Primecoin.
What do we *REALLY* need?
1. A coin with a 5sec block time for real-world transactions.
2. A coin with a rate of inflation that is on par with economic growth.
3. A coin that support multi-hash signing so that we can embed a distributed exchange in the program.
Rich ASIC farm owner gets poorer?
Poor CPU owner gets richer?
Totally agree with you here.
The main flaw for me is POS encourages hoarding by design.
Also having a vast majority of coins with a few of the wealthiest users creates a high chance of a massive crash if they ever liquidate their stock.
But I do love how these early adopters pretend none of this is an issue, at least until they sell off their coins for BTC.
The main flaw for me is POS encourages hoarding by design.
Also having a vast majority of coins with a few of the wealthiest users creates a high chance of a massive crash if they ever liquidate their stock.
But I do love how these early adopters pretend none of this is an issue, at least until they sell off their coins for BTC.
But a lot of pos is like 2% annual? you can make 10% trading daily?
What does this mean?
But a lot of pos is like 2% annual? you can make 10% trading daily?
We are being led way off-field by promoting Proof Of Stake coins in this community. While I understand there is a efficiency problem with PoW coins, all we are doing by using PoS is to give altcoins a bad name. They inherently make the rich richer and keep the poor poorer. I understand the burning desire to reward the early adopters, but we are turning into a bunch of vultures rather than creating a coin that fixes Bitcoin's problems.
1. PoS creates even higher volatility than what we are seeing in Bitcoin by concentrating wealth and dissuading actual spend.
2. PoS encourages pump-and-dump, and members are behaving like they've never heard of a pyramid scheme before. "psst, the more you promote the product, the more we'll give you. Oh, and the more you buy, the more you can make." WTF!
3. PoW doesn't have to be useless computation. Sunny has proved this with Primecoin (although it's not the *most* useful thing) - I'm keeping an eye out for a better copy of Primecoin.
What do we *REALLY* need?
1. A coin with a 5sec block time for real-world transactions.
2. A coin with a rate of inflation that is on par with economic growth.
3. A coin that support multi-hash signing so that we can embed a distributed exchange in the program.
1. PoS creates even higher volatility than what we are seeing in Bitcoin by concentrating wealth and dissuading actual spend.
2. PoS encourages pump-and-dump, and members are behaving like they've never heard of a pyramid scheme before. "psst, the more you promote the product, the more we'll give you. Oh, and the more you buy, the more you can make." WTF!
3. PoW doesn't have to be useless computation. Sunny has proved this with Primecoin (although it's not the *most* useful thing) - I'm keeping an eye out for a better copy of Primecoin.
What do we *REALLY* need?
1. A coin with a 5sec block time for real-world transactions.
2. A coin with a rate of inflation that is on par with economic growth.
3. A coin that support multi-hash signing so that we can embed a distributed exchange in the program.
Jump to: