Topic: Which Proof of Stake System is the Most Viable - page 9. (Read 25752 times)

Because nxt isnt a scam coin maybe? If you havnt noticed yet nxt has so much to offer that the other 199 alt coins dont have. we have a massive community and massive dev count. Each day new features are coming to light. oh and we are at payexpo :-)

Peercoin is the best!

nxt is far superior given its many offerings...

Relax Eadeqa. Let him explain what he means.

Nxt is original. I's not a clone.

WTF? Can anyone make sense of this nonsense?

Maybe because of this? http://coinmarketcap.com/

How on earth the NXT scamcoin has more votes that the best and original crypto of this system?

I guess the most voters have invested on NXT and they are making desperate attempts to raise it's value

What is this?

I despise nextcoin because they say "this cannot be done". People who say things such as something cannot be done are moron idiots and proven to be wrong in the future all the times. what a pathetic excuse to for the creation of a scamcoin.

Peercoin is the only PoS coin that deserves attention and respect. Others are just shady clones. You could as well as make a similar topic and allow voting between BitCoin and DogeCoin, asking which one is better by their PoW algorithm

That argument is null and void:

you are so biased.

POW problems that are undeniable:
-Costs way more in electricity
-Reliance on Asic/hardware manufacturers
-susceptible to 51% hash power attack
-Waste of space and resources
-Centralized mining pools
-Hardware scams everywhere
List can go on.

I think the POS/POW implementation of Peercoin has proven itself by now. Attacks are certainly not impossible, but extremely expensive. And even if you succeed, something which hasn't happened yet for more than 18 months, the checkpoint system will take you back to square one. Agree that checkpoint system as currently implemented in Peercoin is not great, but it works for the time being while the network strengthens. It is a bit like the policeman in pursuit after you went to the red light. If you know the policeman is there, you might not pass the red light. Would prefer a more pro-active approach and a more secure network though.

Peercoin is currently working hard to get more nodes out in the wild by providing Raspberry Pi images. The new Peerunity wallet (releasing v0.1 soon) will make minting easier and the wallet more user friendly. And there are active discussions on peercointalk.org about increasing the reward for minters, rewards by block and to improve the security with e.g. cold-locked minting. Once implemented this will increase the participation of the coin holders and with that increasing the security of the network. Peershares is also likely to increase the use of Peercoin which would eventually turn into increased security.

The NXT network is way younger but has some promises. The way their forging works is interesting, but I'm personally struggle with the lack of transparency they display at times. Their wallet is finally at a level that someone used to cryptos can manage. The number of mandatory protocol updates is way to high for the average person to keep up with though. This needs to change before wider adoption can begin.

On the sales/marketing argument, NXT has an active development community but is not great on sales, Bitshares also struggles and Peercoin has also its challenges (will have a new video soon  ). All are riding mainly on the back of the Bitcoin train if it comes to attracting new users and marketing to Joe Average. NXT has a bit of a challenge here as they are quiet different and they will need to work harder.

As said earlier in this thread the challenge is in the use of coins by merchants and the general public. NXT has a challenge as it has a different protocol and Bitcoin application can't be ported easily. Peercoin is likely to implement a couple of updates which makes it easier to port Bitcoin applications especially those directly reading the blockchain (getrawtransaction etc.). Haven't looked at Bitshares recently in this context, but thet are certainly looking at a different market.

Not sure what the answer is on the OP's original question, but I agree with other posters in this thread, the coin with the best marketing, usability and adoption will eventually win assuming that the protocol is sound and secure.

_{Disclaimer: I'm invested for 85% in Peercoin, 10% in NXT and 5% in a bucket of other coins.}

DPOS is good

I agree with jonald_fyookball. You can let yourself being influenced by self-proclaimed experts but you SHOULD think it through yourself. Always. This does not only apply for coins but for all decisions made in your life.

I agree DeathandTaxes is an expert.
No question.

However, I think it would be foolish to dump all
your bitcoins in favor of an altcoin, and I'll
give you 5 reasons why I think so:

1.  You must be careful not to misconstrue
something he (or any expert) says to be an overt "endorsement".

He might say something is good, an idea is good,
or even a coin is good.  Heck, he might even launch
his own coin, but that doesn't mean he's
going to sell all his Bitcoins.  Why would you?

2.  A new idea from an alt may later have problems and I
would bet on 5 years and thousands of people vetting
Bitcoin over what one expert says in a short timeframe.

3. Just because a coin is technically sound doesn't
automatically mean it will be adopted by merchants.
That takes a very long time, and meanwhile other clones
may leapfrog the new coin.

4. DeathandTaxes seems to like the "bootstrap an alt
with a Bitcoin based distribution" idea, meaning that
any new coin that comes out that has promise, may
be cloned and given freely to people that hold Bitcoins.  

So if you sell your Bitcoins, you would miss out
on that.

5. There is no social proof that people
will accept a PoS coin.  Recently, Gavin Andresen
was asked "can PoS work".  His answer was: "maybe,
but is it fair?"

I recall when I first learned about Bitcoin and
being struck by the fact that the miners actually
had to solve problems to get the coins.  I didn't
even know the phrase "proof of work", but my reaction
was "wow, they have to DO something to earn the coins,
its not just something out of nothing.  This seems real
and legit".
---

Bottom line: Invest in alts, if you desire.  But you
don't have to throw out the baby with the bathwater,
even if an expert says something.

If DaT ever endorses a POS, I will take my bitcoin go all in with what I feel like I can afford to lose!  He clearly knows what he is talking about and admits what he knows and doesn't know.  I would love to have him really grind out the NXT code and know for sure just what is and isn't possible. 

The better chain needs to almost mirror the honest one in terms of certain properties.

That is because of the limits in the re-targeting algorithm and because one will not be able to borrow transactions from on branch to another. Especially the latter will make the new chain almost always "unpopular" to adapt. The former needs computational effort.

I can't follow you. Last time I checked there already existed a bunch of Nxt clones because it is open source.

We can't control if third parties are open source or not.