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There's another catch as well, PoS allows and encourages control to be centralized by financially incentivizing financial hoarding behavior. Knowing what we kno
by anonym29 3y ago
There's another catch as well, PoS allows and encourages control to be centralized by financially incentivizing financial hoarding behavior. Knowing what we know about wealth distribution in FIAT monetary systems, this will eventually result in people's real wealth¹ falling under the control of a single entity, which appears no different than FIAT on the surface, until you remember that said entity does not have even the limited accountability that our central banks do.
¹ even if you take for granted that whatevercoin itself isn't actually "worth" anything, the products of labor (FIAT currency) that working people exchanged for those whatevercoins absolutely are a real form of wealth, in as much as they were originally worth in FIAT form.