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Proof of stake, while probably achievable technically within the next few years, has a major incentive problem. Anyone can show up and start mining a proof of w

by woah 12y ago

Proof of stake, while probably achievable technically within the next few years, has a major incentive problem. Anyone can show up and start mining a proof of work coin, and earn some. In contrast, all coins ever available in a proof of stake system must be given out by someone at some point. Most people distrust a system that claims to be decentralized, but has a central group or person giving out all tokens that will ever exist at the beginning.

wmf 12y ago
You have to buy hardware to mine. Arguably buying stake directly is simpler.
- tg3 12y ago
  Simpler probably, but unless you can buy stake from anyone (like you can with hardware), it lacks the same decentralized advantages.
  - wmf 12y ago
    In the Bitcoin world there are multiple exchanges and multiple ASIC vendors. Any healthy ecosystem should have multiple exchanges.