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Proof of Stake does not work. https://download.wpsoftware.net/bitcoin/pos.pdf https://download.wpsoftware.net/bitcoin/pos.pdf

• DennisP 11y ago
  That's not a proof that no Proof of Stake system can work. It's a list of possible attacks, at least some of which are mitigated by recent Proof of Stake designs. See Vitalik's post here: https://www.reddit.com/r/ethereum/comments/3y0ysi/understanding_serenity_part_i_abstraction/cy9wz6e https://www.reddit.com/r/ethereum/comments/3y0ysi/understand... A fairly detailed description of that system is here: https://blog.ethereum.org/2015/12/28/understanding-serenity-part-2-casper/ https://blog.ethereum.org/2015/12/28/understanding-serenity-...
  • pstrateman 11y ago
    > That's not a proof that no Proof of Stake system can work. It's a list of possible attacks, at least some of which are mitigated by recent Proof of Stake designs. I have yet to see a design which mitigates all of the attacks. Indeed I do not believe that such a design is even possible. Would love to be proven wrong though.
    • CyberDildonics 11y ago
      Some people don't believe that bitcoin works or is possible even though it literally is working right now.
      • pstrateman 11y ago
        All of the currently "working" "proof-of-stake" systems have central trusted third parties signing blocks.
        • CyberDildonics 11y ago
          Until bitcoin was created all currencies used centralized trusted parties too. These things are in their infancy. Saying something can't be done at this stage is begging to be on the wrong side of history.
          • pstrateman 11y ago
            As I said. >Indeed I do not believe that such a design is even possible. >Would love to be proven wrong though.