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See my comment to another in the thread. Existing stakers can prevent new people from staking. Existing miners can't do this in a PoW system

8note 5y ago
New people can still vote for their governments to affect those systems. The distinction feels irrelevant
- leishman 5y ago
  It's very relevant. Mining is very easy to geographically diversify. PoS coins will almost all be controlled by US based custodians subject to US regulations. PoS coins will be controlled by the US financial industry at the end of the day
  - zionic 5y ago
    This is completely false, late/end game PoW centralizes mining around the cheapest electricity. It is impossible to mine profitably in the overwhelming majority of the world now.
  - 8note 5y ago
    Your government controls which coins you are able to use. It doesn't matter if the coin becomes run by another geographic area if it's illegal for you to trade in them
zionic 5y ago
>See my comment to another in the thread. Existing stakers can prevent new people from staking There is little to no evidence of this. Completely unsupported conspiracy theory.
Dylan16807 5y ago
> Existing miners can't do this in a PoW system Sure they can. It's easy to only mine on top of blocks from certain sources, and if most of the network does this then those are the only blocks that matter.
- leishman 5y ago
  You can mine anonymously, you can't stake anonymously.
  - Dylan16807 5y ago
    But my comment is about whitelisting, not blacklisting. The ability to be anonymous won't stop whitelisting.
    - leishman 5y ago
      Sure but the difference with mining is that having a majority of hashrate doesn't allow you to maintain that majority in perpetuity. You have constant operating expenses that require you to sell your Bitcoin, along with constantly growing competition. Just look at the rise and fall of large Bitcoin miners. With PoS if you are the biggest on day 1 you will probably be the biggest on day 1,000.
      - Dylan16807 5y ago
        It might mathematically keep you in charge forever, but if you can stop almost anyone from being able to profit then it's very unlikely people will invest enough to override you. And the motivation not to do it is the same, people will get mad and stop using the grossly manipulated coin.

8note 5y ago

New people can still vote for their governments to affect those systems. The distinction feels irrelevant

leishman 5y ago
It's very relevant. Mining is very easy to geographically diversify. PoS coins will almost all be controlled by US based custodians subject to US regulations. PoS coins will be controlled by the US financial industry at the end of the day
- zionic 5y ago
  This is completely false, late/end game PoW centralizes mining around the cheapest electricity. It is impossible to mine profitably in the overwhelming majority of the world now.
- 8note 5y ago
  Your government controls which coins you are able to use. It doesn't matter if the coin becomes run by another geographic area if it's illegal for you to trade in them

zionic 5y ago

>See my comment to another in the thread. Existing stakers can prevent new people from staking There is little to no evidence of this. Completely unsupported conspiracy theory.

Dylan16807 5y ago

> Existing miners can't do this in a PoW system Sure they can. It's easy to only mine on top of blocks from certain sources, and if most of the network does this then those are the only blocks that matter.

leishman 5y ago
You can mine anonymously, you can't stake anonymously.
- Dylan16807 5y ago
  But my comment is about whitelisting, not blacklisting. The ability to be anonymous won't stop whitelisting.
  - leishman 5y ago
    Sure but the difference with mining is that having a majority of hashrate doesn't allow you to maintain that majority in perpetuity. You have constant operating expenses that require you to sell your Bitcoin, along with constantly growing competition. Just look at the rise and fall of large Bitcoin miners. With PoS if you are the biggest on day 1 you will probably be the biggest on day 1,000.
    - Dylan16807 5y ago
      It might mathematically keep you in charge forever, but if you can stop almost anyone from being able to profit then it's very unlikely people will invest enough to override you. And the motivation not to do it is the same, people will get mad and stop using the grossly manipulated coin.