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Yes, with POS aren't we just back to a (now programatically enforced!) cabal of bankers that control the money system?

• capableweb 6y ago
  Nope, it's still distributed consensus rather than centralized. If one banker stops being nice, he'll loose all his funds. The current system either ignores people not-being-nice or ejects them, but they'll never lose what they made. Compared to PoS where the biggest incentive is to be nice.
  • jayd16 6y ago
    The fear is that there will be a powerful in-group that has majority control, not just a single bad actor.
    • runarberg 6y ago
      Correct me if I’m wrong, but isn’t that a problem shared with PoW?
      • jayd16 6y ago
        I would argue that POW tends towards specialization of the hardware, congregating power in few hands, so yes. Yes it is.