Stealing from the poor to give to the rich is Proof-of-Stake’s (PoS) fatal flaw. Change my mind.
Stealing from the poor to give to the rich is Proof-of-Stake’s (PoS) fatal flaw. Change my mind.
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Stealing from the poor to give to the rich is Proof-of-Stake’s (PoS) fatal flaw. Change my mind.
Proof of Stake Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
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Having money gives you the opportunity to make more, that’s not PoS specifically, that’s capitalism.
Maybe you can think up a communist coin where everyone is given the same amount and no one is allowed to get ahead without the government sending black vans to your house.
I’m going to need to make this communist coin. Stop inequality once and for all.
You can always join a stake pool for some things that allow for it in PoS coins.
Communist Coin tokenomics are seriously problematic.
PoS staking rewards don’t equal the creation of value, which is what capitalism incentivizes. PoS incentivizes the creation of money through token inflation.
You stake to protect against the dilution of your stake and you hope that someone somewhere doesn’t stake so you can earn a little extra by diluting their stake.
Interesting. I have the urge to make a shitcoin call Our Coin. But i think someone already best me to it.
Rugpulled by Kim Jong Un
How is stealing when you decide to stake in exchange for rewards?
This is one of the dumbest arguments against PoS that I have seen.
The dumbest.
You don’t stake in exchange for rewards. You stake in exchange for a portion of token inflation.
That’s a key difference.
You could say the same thing about POW and or gas fees. Algo PPOS is sexy as every Algo staked has the same chance as becoming the verifier. So it eliminates some of your complaint.
Surely having 100 000 algo staked increases your chances especially compared to someone who has say 10 algo staked?
Say the same thing about PoW? Please elaborate.
PoW blockchains force newcomers to invest in expensive hardware and often join already existing pools to get a taste of the pie, I think PoS is more accessible and rewarding in the long term, PoW in the shortterm is better.
There is nothing to change. PoS in its base is a system where whales get fed by the urchins.
This is a terrible and highly misinformed take. I feel dumber for having read it.
Your very specific feedback and arguments against the article are certainly informative.
I appreciate you engaging though since it helps with the algorithm overlords.
Both PoW and PoS have their pros and cons. But we need both of them to keep the balance.
Agreed.
PoW better short-term, PoS better long-term in my opinion.
Proof of Stake Pros & Cons – Participate in the r/CC Cointest to potentially win moons. Prize allocations: 1st – 300, 2nd – 150, 3rd – 75.
Sort comments as controversial first by clicking here. Doesn’t work on mobile.
I am a bot, and this action was performed automatically. Please contact the moderators of this subreddit if you have any questions or concerns.
Having money gives you the opportunity to make more, that’s not PoS specifically, that’s capitalism.
Maybe you can think up a communist coin where everyone is given the same amount and no one is allowed to get ahead without the government sending black vans to your house.
I’m going to need to make this communist coin. Stop inequality once and for all.
You can always join a stake pool for some things that allow for it in PoS coins.
Communist Coin tokenomics are seriously problematic.
PoS staking rewards don’t equal the creation of value, which is what capitalism incentivizes. PoS incentivizes the creation of money through token inflation.
You stake to protect against the dilution of your stake and you hope that someone somewhere doesn’t stake so you can earn a little extra by diluting their stake.
Interesting. I have the urge to make a shitcoin call Our Coin. But i think someone already best me to it.
Rugpulled by Kim Jong Un
How is stealing when you decide to stake in exchange for rewards?
This is one of the dumbest arguments against PoS that I have seen.
The dumbest.
You don’t stake in exchange for rewards. You stake in exchange for a portion of token inflation.
That’s a key difference.
You could say the same thing about POW and or gas fees. Algo PPOS is sexy as every Algo staked has the same chance as becoming the verifier. So it eliminates some of your complaint.
Surely having 100 000 algo staked increases your chances especially compared to someone who has say 10 algo staked?
Say the same thing about PoW? Please elaborate.
PoW blockchains force newcomers to invest in expensive hardware and often join already existing pools to get a taste of the pie, I think PoS is more accessible and rewarding in the long term, PoW in the shortterm is better.
There is nothing to change. PoS in its base is a system where whales get fed by the urchins.
This is a terrible and highly misinformed take. I feel dumber for having read it.
Your very specific feedback and arguments against the article are certainly informative.
I appreciate you engaging though since it helps with the algorithm overlords.
Both PoW and PoS have their pros and cons. But we need both of them to keep the balance.
Agreed.
PoW better short-term, PoS better long-term in my opinion.