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PoS is also plutocratic isn't it? Money would always flow to those that already have the largest stake. Economies already naturally do that, so also coding it i
by api 9y ago
PoS is also plutocratic isn't it? Money would always flow to those that already have the largest stake. Economies already naturally do that, so also coding it into the monetary system would double the exponent on the effect. Winners take all, and are then the arbiters of all transactions.
- ttt111222333 9y agoMoney flows to everyone, just more goes to those with more money. However that isn't as bad as it sounds. If you own 10% and someone owns 1%, after the money has been given out you will still have 10% and they 1%. From a relative wealth perspective it actually just maintains everyone's position in society, neither benefiting nor disadvantaging anyone... That's the spiel at least...
- deleted 9y ago[deleted]
- pdpi 9y agoIf I have 10% and you have 1%, I might be able to keep 5% locked as my stake and 5% liquid, where you need 0.9% liquid and can only lock 0.1%. What was a 10:1 ratio in capital becomes a 50:1 ratio after we each chunk some out for liquidity.
- zaarn 9y agoDepends on how it is set up. If you require stake to be locked up for a long time then the plutocracy doesn't mean much since the stake is inaccessible (having 10 million $ doesn't matter if the box it's in is indestructible and locked)
- api 9y agoI don't think that works. Only the very rich can take large sums of money and lock it up like that.