Topic: To all who claim 'fair distribution' is not possible in a PoS, only in PoW... (Read 708 times)

That only proves Vericoin is a fail.
There has been numerous successful attacks on smaller PoW coins, but Bitcoin is still here (although it can be argued for how long).
But the thread is about something else, about hypocrisy.

Pos is a fail and vericoin proved that http://thecoinfront.com/coindevs-respond-to-the-vericoinmintpal-scandal/

No, I do not.

There is no fair way is my take on it, and even if you distributed all coins to all 7 billion people on Earth equally, a few years later, most coins would end up in the hands of a few of them. Hence, the 'fairness' aspect is of secondary importance. More important aspects are technical aspects and useful purposes of the coin.

take a step back for a minute. You are saying that the fair way to distribute a new currency is to give it to a specialised group of people that have special skills and expensive computers rather than just distribute is over as many people as possible?


Tell me of a new currency was introduced in a country today how would it happen? The banks would swap the new currency for old currency. That looks a lot more like POS than POW to me. People have to use their already acquired wealth to be part of the new currency. YES because we have such small numbers than we have a potential to increase in value but also we take a risk. Even if that risk is losing on scam coins along the way.


So let's imagine the entire population of a country was going to move to a new currency. Imagine everyone was involved. So would it be fairer that those with specialised skills in computers and expensive equipment would take a disproportionate amount of new currency? Or would it be better if everyone swapped their old currency for the new one? When you use the analogy of the whole population your idea of fairness falls to pieces.

The truth is any distribution is 'unfair' at this point cause a small percentage of the population is mining or buying into an IPO.

Was it fair that some people turned their computers on a few years and mined enough Bitcoin that means they never need to work again? POW is as unfair as POS. Anyone who thinks otherwise is trying to hold their advantage as a miner...that's all.

Well, it goes to prove my point that most people don't care about fair distribution, because we don't see a lot of Myriadcoin supporters.

They only cry 'unfair' to PoS when it suits their agenda (they already have a good stake in hardware or their favorite flavor of PoW coins (Bitcoin most often) they mine).

If they truely cared about fair distribution, they'd run to mine and hodl Myriadcoin, but they don't. Nobody gives a fly about fair distribution (except a few Myriadcoin developers), anyone with a slightest touch of reality can observe that. Hence, I and anyone with senses can make a conclusion it's just hypocritic talk on their part. But we won't hear from them in this thread probably, they know they will lose in a debate.

Myriadcoin is the only coin so far that I know of that really tries to do a fair distribution of coins.

The sad part is that people don't understand this (or are too greedy) and try to jump on the Pump&Dump coins instead of investing in a coin that will last longer than a month or two.

For example, it halves every 48 weeks and is still in the first phase (no halving done) and multi-algo that supports ASIC's and GPU's (CPU as well)

What more can you ask for?

Polymyr will be huge news for the cryptocommunity as well.. I think it will be the only thing keeping new coins from being completely destroyed by 1 ASIC in the coming months.

...you are hypocrites, because none of you stands in defense of Myriadcoin, which allows for a truely fair distribution among all PoW coins.

You only talk about fair distribution, because you have invested in ASICs that allow you to mine Bitcoins or you have mined Bitcoins from the early start and have shitloads of them now (called 'vested interest'). 99.999% of people who are not miners don't give a rat's ass about distribution, as long as the crypto does what they need it to and they have to buy the crypto, PoW or PoS with fiat anyways.

There you go, slap on your face