Why do people believe that Proof of Work is good for distribution? - page 2.

crackerhead

sr. member

Activity: 252

Merit: 251

My Head is a Ritz

Quote from: PereguineBerty on July 06, 2014, 02:50:20 PM

This thread seems like a sensible question has been asked.....

but it's being answered by a bunch of old ladies beating each other with handbags.

Hahaha well said.

I keep asking myself "why PoW" more everyday, and it's worth a reasonable discussion.

darkota

hero member

Activity: 770

Merit: 500

You can only buy into a IPO for a limited amount of time with PoS.

With PoW, you can mine for decades to come.

PoS has horrible, unfair distribution and it will always be that way, simply because PEOPLE(the devs) choose who gets what amount of coins. You have to rely on them, with PoW, you don't have to trust anyone, you can go buy a mining rig and get your own damn coins.

100% PoS will always be shit and never go anywhere.

HOWEVER.

PoW transitioning to PoS over time is the best method, it's better than 100% PoW and way better than 100% PoS.

tokyoghetto

legendary

Activity: 1232

Merit: 1000

Quote from: LeChatNoir on July 06, 2014, 06:58:04 AM

Why do people believe that Proof of Work is good for distribution?

Very good question.
Short answer: because they don't understand economics.

Is fair distribution really important?

Facebook stake was 100% premined and owned by the founder. Userbase has grown bigger and bigger creating value with their contents, then a lot of investors were more then happy to jump in the IPO enriching the greedy Zuckerberg.

Distribution is not really important, what really matters for an investor who considers switching $$$ for cryptocurrencies is network security, liquidity and volatility.

this x 1000.

PereguineBerty

member

Activity: 109

Merit: 35

This thread seems like a sensible question has been asked.....

but it's being answered by a bunch of old ladies beating each other with handbags.

ChuckOne

sr. member

Activity: 364

Merit: 250

☕ NXT-4BTE-8Y4K-CDS2-6TB82

Thanks ShroomsKit_Disgrace.

Now ON-TOPIC

I was pondering over PoW. It basically is PoS. You have you mining rigs at stake, right?

You buy your mining rigs and therefore get a bigger piece of the cake.

Same for PoS:

You buy your stake and therefore get a bigger piece of the cake.

No difference here.

ShroomsKit_Disgrace

legendary

Activity: 952

Merit: 1000

Yeah! I hate ShroomsKit!

For the people that is reading the stupid replies of digitalindustry please, read this before:

Quote from: binaryFate on July 06, 2014, 10:59:04 AM

Quote from: aminorex on July 06, 2014, 10:21:49 AM

Quote from: digitalindustry on July 06, 2014, 09:55:54 AM

http://kolinevans.wordpress.com/2014/07/02/on-po-proof-of-scam-defining-the-rational-crypto-currency-exclusive-socioeconomic-dynamic/
http://kolinevans.wordpress.com/2014/07/04/why-has-litecoin-decoupled-from-bitcoin-and-is-on-a-price-decline-and-why-is-this-important-for-quark-and-other-free-market-crypto-currencies/

Arrgh. You wasted my time! Shame on you.

If it wasn't a clear attempt to promote a shitcoin, I'd think it is some automatically generated content.

These quotes come from 2 respected and well known members of this forum, nothing close to "sockpuppets".

Thus, please people, consider it 2times before wasting time reading this mentally-sick individual called digitalindustry.

My suggest? Ignore button.

mczarnek

hero member

Activity: 527

Merit: 500

Quote from: digitalindustry on July 06, 2014, 06:41:56 AM

wow you guys are really working hard i'll give you that ...

that aside, your comments are actually relevant, but that doesn't mean we give up.

PoW is the best system invented so far.

Random Proof of Work distribution can vary, and its in this variance that improvements can obviously be made.

I don't think Proof of Scam (Po$) has a big future, having said that, i'm sure some people are moving their life saving into stocks as well.. so..?? you never know.

Why do you say Proof of Scam? What do you have against Proof of Stake?

Quote from: ChuckOne on July 06, 2014, 06:52:49 AM

Why do I have the feeling that I read this question somewhere before? Wink

haha, thanks for asking the question first on another forum

Quote from: ?? on ??

didn't you once tell me that you were mentally disabled ?

wtf? Please discuss this off forum

From Above

hero member

Activity: 700

Merit: 520

Quote from: Voluntold on July 06, 2014, 08:17:27 AM

Quote from: digitalindustry on July 06, 2014, 08:04:51 AM

Quote from: Voluntold on July 06, 2014, 07:45:33 AM

Quote from: ChuckOne on July 06, 2014, 07:42:49 AM

Guys, this is a serious question. Go to the kindergarten if you want to talk this way.

I'm %100 serious. Initial distribution doesn't matter.

Edit: It does matter if all you're interested in is getting rich yourself. Which isn't a bad thing. Just wish people would be more honest about their greed instead of trying to make dumb arguments about "unfair distribution".

ok - let me throw this prickly one at you genius.

what about the insane idea that people just think you are scamming them? and then never buy into your "it doesn't matter how its distributed " currency or investment?

did you ever think of that? - or, were you kind of falling back on the Facebook example ?

You're just telling me more and more about yourself. So you didn't get in on an IPO (maybe Nxt?) because you thought it was a scam, and so now you're jealous of other people that are getting the huge reward for the risk they took? Sorry, I didn't get in on any of 'lucky' IPOs either, but I'm not going to blame that on the mechanism for initial distribution or securing the network.

well Kolin Evans said he is going to invest in Bitshares IPO DPoS now so i guess he is looking up to PoS and IPOs actually

probably just butthurt cuz quark went down and nextgen innovation went up... well whatever

~CfA~

Voluntold

full member

Activity: 168

Merit: 100

Quote from: digitalindustry on July 06, 2014, 08:04:51 AM

Quote from: Voluntold on July 06, 2014, 07:45:33 AM

Quote from: ChuckOne on July 06, 2014, 07:42:49 AM

Guys, this is a serious question. Go to the kindergarten if you want to talk this way.

I'm %100 serious. Initial distribution doesn't matter.

Edit: It does matter if all you're interested in is getting rich yourself. Which isn't a bad thing. Just wish people would be more honest about their greed instead of trying to make dumb arguments about "unfair distribution".

ok - let me throw this prickly one at you genius.

what about the insane idea that people just think you are scamming them? and then never buy into your "it doesn't matter how its distributed " currency or investment?

did you ever think of that? - or, were you kind of falling back on the Facebook example ?

You're just telling me more and more about yourself. So you didn't get in on an IPO (maybe Nxt?) because you thought it was a scam, and so now you're jealous of other people that are getting the huge reward for the risk they took?... Sorry, I didn't get in on any of 'lucky' IPOs either, but I'm not going to blame that on the mechanism for initial distribution or securing the network.

digitalindustry

hero member

Activity: 798

Merit: 1000

‘Try to be nice’

Quote from: Voluntold on July 06, 2014, 07:45:33 AM

Quote from: ChuckOne on July 06, 2014, 07:42:49 AM

Guys, this is a serious question. Go to the kindergarten if you want to talk this way.

I'm %100 serious. Initial distribution doesn't matter.

Edit: It does matter if all you're interested in is getting rich yourself. Which isn't a bad thing. Just wish people would be more honest about their greed instead of trying to make dumb arguments about "unfair distribution".

ok - let me throw this prickly one at you genius.

what about the insane idea that people just think you are scamming them? and then never buy into your "it doesn't matter how its distributed " currency or investment?

did you ever think of that? - or, were you kind of falling back on the Facebook example ?

ChuckOne

sr. member

Activity: 364

Merit: 250

☕ NXT-4BTE-8Y4K-CDS2-6TB82

Quote from: Voluntold on July 06, 2014, 07:45:33 AM

Edit: It does matter if all you're interested in is getting rich yourself. Which isn't a bad thing. Just wish people would be more honest about their greed instead of trying to make dumb arguments about "unfair distribution".

+1

Voluntold

full member

Activity: 168

Merit: 100

Quote from: ChuckOne on July 06, 2014, 07:42:49 AM

Guys, this is a serious question. Go to the kindergarten if you want to talk this way.

I'm %100 serious. Initial distribution doesn't matter.

Edit: It does matter if all you're interested in is getting rich yourself. Which isn't a bad thing. Just wish people would be more honest about their greed instead of trying to make dumb arguments about "unfair distribution".

ChuckOne

sr. member

Activity: 364

Merit: 250

☕ NXT-4BTE-8Y4K-CDS2-6TB82

Guys, this is a serious question. Go to the kindergarten if you want to talk this way.

Voluntold

full member

Activity: 168

Merit: 100

Quote from: digitalindustry on July 06, 2014, 07:35:48 AM

Quote from: Voluntold on July 06, 2014, 07:09:47 AM

PoW isn't good or bad for distribution, same as 100% PoS/IPOs. Distribution doesn't even matter. "Good for distribution" and "Fair distribution" are just phrases people use to try to fool themselves and/or other people into believing that they give a shit about anything other than their own self interests. It's a good indicator to show me exactly where a persons emotional maturity (and critical thinking ability) is at.

you Sir are either:

1.\retarded
2. a sock puppet.

you choose.

Don't project...

digitalindustry

hero member

Activity: 798

Merit: 1000

‘Try to be nice’

Quote from: Voluntold on July 06, 2014, 07:09:47 AM

PoW isn't good or bad for distribution, same as 100% PoS/IPOs. Distribution doesn't even matter. "Good for distribution" and "Fair distribution" are just phrases people use to try to fool themselves and/or other people into believing that they give a shit about anything other than their own self interests. It's a good indicator to show me exactly where a persons emotional maturity (and critical thinking ability) is at.

you Sir are either:

1.\retarded
2. a sock puppet.

you choose.

digitalindustry

hero member

Activity: 798

Merit: 1000

‘Try to be nice’

Quote from: Katarina on July 06, 2014, 07:09:18 AM

Because proof of work is the best for distribution, unless you want human proof of work (good coin).

we've got human "proof of work" its called :

Proof of Debt. (PoD)

you sign the contract for the loan and that creates new money though "credit creation" so its a Proof of Debt system, and your signature creates the debt, and your work energy goes to repay it + plus its parasite "interest" - which is like PoS in reverse.

Voluntold

full member

Activity: 168

Merit: 100

PoW isn't good or bad for distribution, same as 100% PoS/IPOs. Distribution doesn't even matter. "Good for distribution" and "Fair distribution" are just phrases people use to try to fool themselves and/or other people into believing that they give a shit about anything other than their own self interests. It's a good indicator to show me exactly where a persons emotional maturity (and critical thinking ability) is at.

Katarina

member

Activity: 112

Merit: 10

Because proof of work is the best for distribution, unless you want human proof of work (good coin).

digitalindustry

hero member

Activity: 798

Merit: 1000

‘Try to be nice’

Quote from: LeChatNoir on July 06, 2014, 06:58:04 AM

Why do people believe that Proof of Work is good for distribution?

Very good question.
Short answer: because they don't understand economics.

Is fair distribution really important?

Facebook stake was 100% premined and owned by the founder. Userbase has grown bigger and bigger creating value with their contents, then a lot of investors were more then happy to jump in the IPO enriching the greedy Zuckerberg.

Distribution is not really important, what really matters for an investor who considers switching $$$ for cryptocurrencies is network security, liquidity and volatility.

just quoting that - for a book one day in the future.

LeChatNoir

hero member

Activity: 699

Merit: 501

Coinpanion.io - Copy Successful Crypto Traders

Why do people believe that Proof of Work is good for distribution?

Very good question.
Short answer: because they don't understand economics.

Is fair distribution really important?

Facebook stake was 100% premined and owned by the founder. Userbase has grown bigger and bigger creating value with their contents, then a lot of investors were more then happy to jump in the IPO enriching the greedy Zuckerberg.

Distribution is not really important, what really matters for an investor who considers switching $$$ for cryptocurrencies is network security, liquidity and volatility.

Topic: Why do people believe that Proof of Work is good for distribution? - page 2. (Read 2067 times)