Bitcoin Forum

Coins Out Stop fucking POS & ICO doing is the only thing that destroy the community of altcoins mother fukers

POS & ICO = SCAMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMMM

Coins Out, Stop fucking PoS & ICO, doing is the only thing that destroys the community, altcoin mother fuckers.


Fixed^

Hmm I don't know that I would call that fixed.. Also OP your poll doesn't make sense. It just shows a 1 & 2 as options.

More POS and POW/POS, pure POW should die ;D

Definitely agree, PoW should die already. PoS FTW.

Meh, sure PoW has issues but PoS is way worse imho;

The price of PoS coins is completely arbitrary. It's not based on anything. ICOs and crap like that setting the initial price is useless and similar to how FIAT works.
While PoW does sink money into electricity and taking it out of the ecosystem, it also creates a floor price; miners tend not to sell coins cheaper than what the cost of mining them was.
PoW coins therefore have an actual cost of making therefore floor price, not just magic internet money created for free out of thin air.

PoS investors are also just as greedy as miners can be, but miners at least have to invest into mining equipment and more importantly electricity to mine while stakers doesn't need anything but to just hold some coins.
And stakers will earn coins at the exact same rate as everyone else staking which means everyone earns more at the same rate so in reality nobody really gains everyting.

Yes, I'm a miner but I'm not saying PoW is perfect, far from it but I think Proof of Stake is awful and it's based on a fallacy.
I can't take PoS only coins seriously. Same goes for stakers; holding coins for the prospect of a few percentages in the volatile nature of crypto is probably as sound of an investment as gambling or ponzis. But, it's easy and doesn't require anything so of course people want it.

I am a miner also but your statement that POS coins are not based on anything is wrong. It is based on bank deposit schemes and those are surprisingly working. lol
but to take this seriously the problem IMO with POS coins are the developers, 90% of them don't care at all about their coins and of course they are dying sooner or later, i believe that POS is the future just someone needs to bring it up, minning is just as costly as printing cash and that was not the initial goal of decentralisation(i guess)

Proof of Stake will eventually overtake Proof Of Work and all that waste of energy. Tech is moving forward.I'm not against PoW I mine BTC myself but PoS is for everyone PoW is not.

Death to POS!  ;D ;D

Rofl!  1, 2

According to your argument if I'm using some sort of free electricity then my coins worth zero, and if I'm mining in Europe then my coins should worth more than those mined in China (with cheaper electricity). BTW PoS at least not wasting energy on mostly pointless (except curecoin a few others) operations.

That won't happen... These threads have been popping up for years. People keep falling for them. Just ignore them people will never learn...

By me is about 0.30$ for kilowatt

Die think Pow has also somehow failed since mining is not possible any more for the average Joe. I agree POS is far away from perfect but it's the same for Pow.

And a ICO at least helps to keep the price stabile and avoid dumps

The coin has to be distributed fairly first, then do the PoS. Ethereum did ICO, it is now in the PoW phase. It will become PoS within a year.

Can't we just work in harmony?

Got any coin that might loom large in your mind when you shat this thread out of your mind onto my screen?

Why don't you tell us how you really feel?

I have already given up on ICO many years ago when they started scamming many people. Now I would rather pay a premium to see a working coins that risk my btc to buy an altcoin with promises.

As far as I can tell a small premine with a well advertised ICO is just about the fairest way of initially distributing a coin that exists.

People just hating on ethereum because they weren't perceptive enough to invest in the ICO.  Probably also buttblasted litecoin bagholders.

POW made sense early on, but right now, its interesting to see people suggesting POS as the proper alternative. Ive been saying that for years and thats why we have the coin we do!

for redeveloping pow , but with other conditions speed Connection Time etc , it must be equal to the miners or earning much large mining or very little those with less power that would encourage community I think I , item and ico not I see a future plan for this, do not make any sense to buy some coins and take them into a portfolio without knowing if the next day will be 1 satosis portfolio or just stops working

Umm, Peercoin anyone? Kinda solves these problems. The original PoS coin, it's been solid this whole time. No fancy ICO stuff or anything like that. Its from back in the day ya know, where people weren't just looking for their next scheme to steal money from people..

POS is a good system technologically, especially in the absence of better (completely different) solutions.

ICO works for certain types of distribution but not for others, it depends on the objectives of the coin/token.

The problems lie with the motivation behind the creation of a coin/token.

I don't think so that there is a problem with pos coins. If the coins are distributed fairly then no problem. This method gives the chance to that people who don't have a mining rig.

ICO worked well for Ethereum. It makes sure the developer team have enough money to do the work. ICO for scam coins are bad.

Won't somebody please think of the children? The shittie Bitcoin experiment is over people

I hate those ICO IPO coins!
And from my experience(few years in crypto) i'm convinced they are alway worst scams! And people don't realize that they are supporting to these madness every time they bought those coins.
Pos or Pow , i dont care, those with miners will tell you they hate pos coins, i wonder why?

Miners like me, hates High POS because we are getting crazy to mine when other people simply buy and wait!  >:(

i understand that you don't like ico. but what's the problem with pos coins?

ok... not that I want to rain on anyone's parade... but..

I think there are huge misunderstandings about POS vs POW.

What I mean is this :

If you have a POW coin, the money spent on POW by the miners, gives the mined coins a price floor. In the long run, miners cannot sell for less or they will go out of business. Simple. Just like real miners mining Gold.

POS is FREE! (comparatively) Yipee!.. BUT.. there is no price floor.

A POW network, cannot be replicated with the same security, unless you also have all the hashing power as well. Costs a lot. This is important.

A POS network, can be replicated with exactly the same security. Costs almost nothing.
 
..

I like them BOTH, but they play very different roles in the crypto scheme of things..

The issue seems to be that no-one has come up with a way of distributing POS coins without an IPO / ICO.

For instance, you could, if you wanted, just hand them out  evenly to every 'Legendary' Bitcointalk user.. Would that annoy people less ?

I don't think so that POS is free. You also have to keep your computer turned on, that uses CPU, GPU, everything, so it's not free.

I agree with you not every one have the hardware to mine coins,that s why big only big companies can concentrate mining and gets hold of the big shares,while pos coins ,holders has shares on the future of the coins..

I agree with this statement POW is waste of electric power and energy!
But i'm against ICO , those are mostly scams!
 I don't know why people falling on those dirty tricks?

That's why i support many POS coins

After long term of PoW, say 3 years, I think it is OK to be PoS. PoW can dilute the value of the developer's coin and distribute the coins fairly.

Just very few coins live for 3 years :P

That is right. Most of the coins are just scams. They are created to scam people. I think we will not touch those coins.

POW is the only fair distribution model if done correctly with full announcement and no instamine settings.

ICO = total abuse and gaming in so many ways it's hard to even set out a group of guidelines to ensure it's fair.

1. it turns out to be a scam with no tech behind it and they run with the btc and dump their coins
2. it's good tech with insta ICO for devs and a few pals (let a few members get some to help pump it)then talked up and pumped on here whilst being withheld from exchange to build hysteria. Then released for 50x ICO price. Then dumped and new project started later.



POS? who cares - if the distribution is fair it does not matter about the POS so much unless it's a crazy %

Couldn't vote since i wasn't sure what 1 and 2 indicated.


POW only - boycott other methods unless extreme measures to show ICO was well handled.

Yet another thinly veiled anti ethereum FUD thread. Bagholders will be bagholders.  

You are completey out of control with ETH. I don't see this as anti ETH at all.

Their ICO was actually done rather well in comparison to others. Everyone had a long time to decide whether to get in or not.
I did not and now see it as a HUGE error financially. Never mind though there will always be new opportunities.

Some ICO were and still are totally rigged from the start.

POW is far easier to ensure fair distribution.

good job

I agree with you there are many people who do not have a mining rigs to mine those coins and those pos and ICO is there way to get involve on those coins but some devs are just using it to scam people with no uses of the coin ,people should be wise enough to see the value of what is being offered on those IPO..

OP is just pissed that POS has leveled the field to bring more people into the digital world. It gives him power to mine and know that the majority of others don't nor care to. They will enter the game by buying coins and keeping them in their wallet and staking.
He sounds butt hurt.

I totally agree,this is part of adoption of a crypto currency and it is up to investors if they are going to take it or not it's always invest at your own risk and invest only what you can afford,this is much easy that setting up mining rigs..

I guess POS is good as against POW which conumes electricity which would have been useful for eco system

If there is any Purpose or any actual work happening around a coin then i am sure POS is going to be of more worth

I don't believe POW is perfect system for distribution because those mining farms are main source of new coins. Especially in China where they have extreme cheap electricity.
Pow+Pos is probably better solution.

https://www.ovoenergy.com/binaries/content/gallery/ovowebsitessuite/images/guides/how_much_does_electricity_cost__large-copy-8.png

https://www.ovoenergy.com/guides/energy-guides/average-electricity-prices-kwh.html

After several years of PoW to distribute the coins fairly, then it is good to change to PoS to save electricity.

Realizing the PoW distributed coins unequally to whoever have the biggest mining operations, personally would not consider that fairly.
Those PoW Miners dump the coins on the exchanges, so it really takes ~ 3 years or so before a coin is fairly distributed after the PoW miners start dumping.


 8)


FYI:
Reason Proof of Stake will succeed Proof of Work, is pure economics.
Input Costs to keep a PoW network running increases constantly while rewards continue to decrease, until it is no longer profitable.
Input Costs to keep a PoS network running is minimal, can be run as minimized app on a PC that is up and running for something else, basically almost Zero energy costs.
 :D

PoW costs a lot. So it give the bottom line value for the coin. The cost of mining with PoS is small, so people will dump their coins.

I like POS  :D

you can always avoid getting scam even when coins are being ICO, IPO and whatever they call it by checking which company are behind the coin and check its background and their plans. if it sounds not too good to be true, it must be possible.. A lot of these coins i think will turn out to be POS and then POW later so price i believe will increase. it will still depend to the devs and the people behind the coin.

I like POS, I dont like IPO/ICO

It highly depends on the coin and on the projects. For some projects like NXT, NEM or Qora for instance, an POS + ICO combination makes sense.
Future upcoming like Lisk or Wave are also qualified to use the combination. It makes absolutely sense if a good team is behind the coin.

For the pure PoS coins, it has to be issued with IPO or ICO, like NXT. I like the coins converted from PoW to PoS.

Pow = fairest and most transparent way vs ico

If there has to be an ICO for fund raising.  It should also have a large POW phase to ensure better distribution that the closed curtain of the non transparent non regulated ICO.  POS can come later.

Pure pos right off the bat is not good for distribution, there should be a pow phase for distribution then movement to pure pos once fair distribution has happened.

Agree, certainly the most unbiased distribution which gives equal opportunity for everyone.

the only people that hate pos are circus clowns that play video games and squeeze their pimples all day.