5 ms·
PoS is not going to be very popular as it removes the literal "money out of thin air" that was happening with GPUs in the past few years (coming to end in mediu
by bitL 9y ago
PoS is not going to be very popular as it removes the literal "money out of thin air" that was happening with GPUs in the past few years (coming to end in medium term). PoS strongly favors already well capitalized owners, instead of allowing new ones.
- twiceaday 9y agoDoesn't PoS generate money out of thin air? It's just a matter of putting your dollars into stake vs hardware and electricity.
- JustAnotherPat 9y ago5% a year. You're better off keeping it on an exchange in case of a pump.
- coralreef 9y agoWhat's this 5% figure from?
- nosuchthing 9y agoOnly for the largest account holders, whom statistically will receive most of the newly generated money (and even more as they continue to accumulate newly printed PoS tokens).
- twiceaday 9y agoPoW distributes block rewards proportionally to hash power and these proceeds can be used to buy more hash power to achieve a compounding effect. From what I understand all of the viable PoS systems offer a fixed rate of return on the stake. This is like PoW forcing everybody to use the exact same hardware; a benefit to the little guy at the expense of the large account holders.
- aoeusnth1 9y agoI'm confused - what's your objection? Should capital put into PoS not provide a constant reward? Or are you under the impression that larger pools of capital provide disproportionate rewards?
- tlrobinson 9y agoTransitioning from PoW to PoS seems like a possible solution. Or shortcut the PoW phase by seeding your coin with snapshots of one or more existing coins that had a “fair” distribution phase.
- ktta 9y agoCasper atleast says it is going to be a linear return model, without the asymmetrical return you get with large scale efficiencies.