Bitcoin Forum

After talking to a few others it seems ethereums POS is nothing like the POS with other alts.
From what I can gather you will require a minimum of 1250 ethereum and even then only 250 persons will be chosen or elected as validators? even then you could be fined ether if you dont have the required bw or resources to validate at any given time?

Also only the first few slots are available at 1250 it scales up rather harshly after that?

Is there a reason only 250 people will secure the network? Is the reason speed?  would it not make it more vulnerable to attack having so few validators? or not?

Who understands the ethereum POS method and the reasons behind it?

It is probably made that way so that only a few people get rich, seems like Ethereum was mostly made for that purpose  ;D If you have enough money I suggest having a talk with Vitalik, he can probably help you with that, and it's always good to have some friends up high  :P

It was a scam from day one and you guys are just figuring it out now really?!?!?!?!

I guess they did not get suspicious when the pumped in 2016 shell of a project ICO coin from 2014 had mining tacked on in 2016 was a scammy operation.. apparently the leader dumping a Million dollars worth of coins was not a tip-off either.. or the blatant gimmick.. APP's

Maybe Butters & friends can start another DAO and REALLY convince these guys ?
..then fork around for awhile promising Bitcoin is dead.. long live it's replacement.
..used by Microsoft, Big Banks and IBM.

PS:
$100 a coin in 6 months i hear  :D

Bitcoin never had a chance.. RIP BTC :'(

Bitcoin.. it was a thing

My understanding is that centralization is required to scale. 250 only nodes confirming helps with that.

So ETH will become centralized ! and 1250 is not a amount can everyone can have ! epic.. just grab 50ETH and leave them for ever just in case..!

Centralization is not a requirement of Proof of Stake,

That is just a requirement by the Devs to keep centralized control of ETH.

Which Eth will die a flaming death, however just for reference
Currently it has less the 40 mining pools.
https://etherchain.org/statistics/miners

Therefore less than 40 individuals determine ETH direction with their PoW design.
250 nodes owned by separate people would be over 6.25 times what they have now.  :P

But just to reiterate my personal viewpoint
Eth will die a flaming death.

http://blog.utahscouts.org/wp-content/uploads/2015/08/flaming-marshmallow_01.jpg

 8)

Why don't you troll IOTA instead? Ethereum is beyond your comprehension.

It's already a pariah project now. No need to clutter the main board with it at this time. I'd prefer not to mention it at all if possible.
Please stop name dropping that scheme into every thread.

Try to keep on thread and remain civil and helpful else remove yourself and create your own.

This is an information thread for those that may be interested, some of which I'm sure would be able to comprehend to a reasonable degree.

You don't seem to realise that some threads are of interest to other people aside from myself. So please don't contaminate the thread with your brand of childish personal remarks and lack of any substance that may provide useful for those interested in this topic.

Although you're a reasonably intelligent fellow (come from beyond is beyond my level of comprehension)  I suspect there are several individuals on this board that could comprehend many things you would be crushed by. How would you like them to tell you to stop enquiring and trying to learn? inhibit discussions that many others could benefit from?
It is not your place. Please improve your manners and customs. What is acceptable in certain places in the world is not acceptable in others. Same for rigged self enrichment schemes, to you they may well seem fine and fair... to others they may seem less so. We need to be able to discuss the observable events without personal childish comments and remarks.


This thread is regarding the POS method eth will employ after the POW phase is done.

This thread would be regarding the POS method eth will employ after the POW phase is done... if it wasn't started by you. Here you are just playing concern troll (http://www.urbandictionary.com/define.php?term=concern%20troll) card. As usually.

Pay attention to where I wrote (https://bitcointalk.org/index.php?topic=1361602.msg16723910#msg16723910), "Vitalik probably proposes to have shard validators trust each other with forfeitable deposits, but that like PoS destroys Nash Equilibrium. As well as I explained my video, external business logic can conflate shards even if cross-shard messages are restricted, leading to chaos, discontent when a shard validator set has lied (for profit obviously), and a drop in the value of the token. Bruce Wanker will be laughing again (https://bitcointalk.org/index.php?topic=1524467.0).".

Also listen to my video about why (https://bitcointalk.org/index.php?topic=1361602.msg16718923#msg16718923) validation must always become centralized, and read the Ethereum Paradox thread.

Readers I was telling you last year that Casper can't work technically. Sigh.

It is still up to debate ? I thought that there will never be a transition to PoS and that will PoW will stay forever.

The system requires multiple miners to validate the blocks. This is why there is a limit to the number of miners allowed. otherwise the system won't converge as too many miners will be required and the network latency will prevent it from happening within a viable amount of time.
..

I think a network like Ethereum should not be spending resources running POW when there is so much other processing that needs to be done.
..

the thing is.. once they do switch to POS any fork can provide the EXACT same security ( POS not POW ). This will mean ETH1 , as I think of it, will become more of a reference, and many more networks will sprout up.

I'm not sure how that will play out.

As a matter of fact there is not a single pos-coin on the market which isn't broken one way or another.

Go figure.

That is kind of a blanket statement, which I believe to be untrue.
So here are some PoS coins, please detail how each is broken in your understanding.

ZEIT
HoboNickel
Evergreencoin
Blackcoin

 8)

I remember BC having problems. The others are too worthless to be attacked.

In other words you are making up shit, and have no details to back up your statements.  ;)

 8)

FYI:
Definition of Broken : having been fractured or damaged and no longer in one piece or in working order.
(All of the PoS coins networks mentioned above are working , so your statement was false.)    

Let's talk about the bigger and formally more popular POS-coins PPC, CLAMS and VRC
Why are they all this low? Can you try and explain the abysmal price slump of these coins?

Which pos-coin do you consider the leading one? Blackcoin? Likely that was compromised aswell, just needs a bit of diggin'. Afterall it's also not valued incredibly high and usually there's a reason for that.

So tell me: what happened to PPC and what happened to Vericoin to make them fall from grace like that?

WARNING: A brainless Bitcoin Maximalist spotted.

translation: i don't have a good answer so i need to make rediculous ad hominem accusations.

It's also a conspiracy theory btw and i think people who believe in a bitcoin conspiracy are a bit strange. The tinfoilhat-type.

edit: haven't you been a pos-coin dev or is your account bought? Why don't you comment on why nxt is so very cheap too or tell us about how bter got hacked?  

Only one pos-coin in Top 20 on CMC - and that one is pumped and its price has nothing to do with fundamentals. (NEM)

Someone care to explain please why pos-coins aren't successful in the market?

Wasn't PPC formally the goldstandard of Pos-coins with one of the best devs around? What happened?

Clams: best distribution model ever with incredibly strong community support - why is it lying in the ditch?

1. I think it should be... 'as usual' .. perhaps look into that to be sure.

See how I seek to help you improve your English even though you are not the easiest person to get along with. Having said this I'm not an English boffin so these are suggestions only for your further study. I'm the last person to be pointing out errors but I know you like to constantly evolve and improve yourself.




2. Your assumption (concerned troll) is incorrect. I am seeking to discuss and understand further the POS method Eth will employ after it finishes the POW phase.

Although I didn't partake in the ICO i have no great issue with it (compared to other icos)  since it gave ample opportunity to invest and also offered a reasonable POW phase. If you compare it to other ICO's on this board it was executed okay. Having said that I don't really agree with any ICO on here in full since all are open to a large degree of insider dealing and manipulation that is not possible with a correctly executed POW phase. I have since mined a reasonable amount of ETH and am trying to decide whether or not to hold or sell at this stage.

If the POS had of been like it is with most other coins where everyone could simply stake their coins and gain a % then if all you needed was 1250 to stake i would guess there would be an increase in demand as everyone tried to accrue that number of coins before POw switched off. This is not the case it seems so attaining that amount is not so important as I'd previously thought it would have been. It seems that POS this time will not be useful to the vast majority of holders to attain more coins.

Translation: a dude is Bitcoin Maximalist who created a newbie account to post BS.

You were caught on an outright lie and you think someone will trust your words?

someone is a bit salty   :D

Hmmm I'm not sure exactly.. Perhaps...

You were caught in an outright lie and you think anyone will trust what you say?

 Anyway since English is not your first language I have no issues with your lack of English comprehension. Mine is not the best and it is my first and only language.

However we've been  through his a few times ...and each time you fail to bring forth any proof for this unsubstantiated claim you can't stop gurgling on about.

Please don't go around in circles. Improve your english comprehension before presuming that what I said/implied was a lie. Perhaps I could be at fault for not making it clear enough for you intially. However, since that time I have gone to great lengths to assist your understanding.

As I say I know you're a very smart individual and have done very well considering.  Just go and read through my posts again and bring forth my lies. Then I can help you breakdown these complicated English puzzles and reveal to you that there is indeed no lies contained within.

I did not know that the ico sale had started and finished. Does not mean.. I was not aware there would eventually be one. I think this is your main area of confusion.

However, again this is not the thread for bringing up your self enrichment schemes. Make your own thread. I have been through that one with you too many times and every single time you refuse to discuss observable events and rather make person childish remarks.

Now either contribute to the thread in the context of the OP or stay out and make your own thread revealing my lies and your self enrichment scheme the name of which I will not mention on this thread since it does not belong here. We are discussing a different token that employed a far fairer initial distribution method and advertising campaign along with a sensible (but smaller than perfect) POW phase. Please take heed for your next scheme and strive to improve upon this even further. I have great faith in your abilities in all things other than you  keeping your hand from the cookie jar. I say faith since there is no solid proof that you manipulated your scheme grossly in your favour only that it looks entirely like you did from the observable events. If you disagree then make a thread and I will meet you there shortly. Please no repetitive discussion of it on this thread.

It seems you have finally got good pills against your reality denial issue, at least I see some progress...

I think you two gentlemen have more productive use of your time than this silly bickering.

Unfortunately I think we can all agree that the same can't be said for Spoetnuts.

hunter why not just let IOTA do its thing? It doesn't harm you. There are so many altcoins now, you don't have to worry about IOTA taking a lion's share any more. Wouldn't it be better to spend your effort trying to find which are the best investments than to waste time trying to bury itsy-bitsy IOTA (https://www.youtube.com/watch?v=p77hQrdjPVk).

And CfB can't you just let it die who was wrong? Who cares. All of us were wrong at one point.

I think we all graduated by now from all the bickering?

"Concern troll" is the most favorite trick of Cryptohunter, I just warned the others so they won't feed him.

I just ... I just...

"concern troll" does not apply here because I am an Eth holder and have no interest in damaging eth through pretend concerns." I have often praised ethereums distribution method for having a POW phase and a lot of pre launch advertising above other ICO's (although I still do not agree with pure ICO or any ICO over pow) so cfb again is making unfounded claims and statements as usually


As far as I can see "concern troll" is only a major worry to those that have something to hide. I mean damage can only be done to a project if the concern troll manages to encourage others to examine events that are questionable or obviously unfair/underhanded. I can see why concern troll is worrying to you CFB and your schemes. Any real investors in crypto should really do their own homework and examine all available evidence.

I have no interest in cfb coming here diverting the subject this topic and have asked many times for him to stick on topic or make his own threads.

@anonymint - I agree with you. I have lost interest in that.

Back on topic. Ethereums POS.

Can you prove it? After your lies were exposed I stopped trusting your words.
e9917313d217fcd6a87a8a14e690cbcf99c79f567eb10009e8d078b9df75a938

Simple, the reason many PoS coins prices are so low is
1. Brainless Slander against PoS coins without details to back them up. Propaganda does work , which is why it is used so much during war & politics.

2. Manipulation by Rich Players to keep their prices low, as the Fact that well designed PoS coins give everyone the chance to make them, not just the people that are rich enough to buy Chinese ASICS and join Chinese Mining Pools.

Like all Lies, in Time the Truth will be realized by all and well designed PoS coins with Strong Communities will be at the Top of Coinmarketcap.
Next time you use the word broken, at least make sure the coin network is down, otherwise your slander shows your lack of truthfulness.

 8)

Prove I lied. Then I can take you more seriously rather than going around in circles with a person who makes false accusations with nothing to back it up.

It was merely your lack of English comprehension. I said I had no idea the IOTA ICO had been conducted, not that I did not previously know it would happen at some point. But when it was asked when we were told not to even ask at this point suggesting to me it would be in the distant future (that is not a fault of iota).

However, even this tactic you have of making up stories about people is not effective. When you encourage people to investigate for themselves what you suspect is a scam then they themselves get to review the observable evidence and make up their own minds. Does not matter how often you scream the instigator of these investigations is a liar (even though they are not and you can't show one shred of evidence that I am) it makes no difference because the people themselves will review these observable events and make up their own minds based on what they find. If some decide it was not open to gross manipulation through exceptionally narrow initial distribution then that is up to them.

I had the same thing with darkcoin when I first mentioned their scam on the main board. I see years later some of the main dark pumpers and protectors of dark that tried the same tactics on me have now have come around to saying it was a scam all along. Your scam is more concealed of course since you're a smart guy. However a scheme that is open to gross manipulation as yours will be grossly manipulated as has been the case with you ransoming off your tokens for 33x ico soon after. So nobody wanted to by the ico but then suddenly everyone wanted to pay you ethereum gains for a coin where nothing had really changed? not even on exchanges??

Why do you insist on saying I have lied but then fail to bring forth any evidence when I challenge you over and over that I did lie?

Anyway why are you still on this thread?

Make a new thread and I will join you there if you wish to go through all of this again.

Yes I could prove it if I so wished. (that i hold a reaonable amount of ethereum)

Could you prove you had even 500 individual investors to your latest scheme. Real individuals not just sock puppets. Even 300 real different people?

Remember when I asked you in public if there were multiple sock puppets so the distribution would be even more tiny that it appeared and your replied it does not matter since bitcointalk does not matter and you will simply find investors outside of this board that were not aware of this??

Anyway open a new thread to continue this old chestnut. I am bored of IOTA. If you were not constantly following me around, PMing me and even dedicating videos to me I would have forgotten about you and your scheme a while back. Now that I see there are multiple DAG projects and yours is a pariah I am ready to forget it knowing I have done all I can to bring this latest scheme into the spotlight on this board.

Now get back to the drawing board for nxt3 and this time share it out a little more. You're getting better. 16 people .... perhaps 80 people....next time give the entire board a fair chance.

Hash "I bet he will make an excuse, as usually..." with SHA-256 and you will get "e9917313d217fcd6a87a8a14e690cbcf99c79f567eb10009e8d078b9df75a938" that you have quoted. You are so predictable, my friend. Well, you are again in reality denial state, let's take a break, I don't want your brain to meltdown. See you next week.

PS: If someone is curious what video was meant - https://www.youtube.com/watch?v=KM36ED544iE

it's  'as usual' ..

ta

CfB back to programming. You are wasting your time.

cryptohunter, nobody cares about who said that you lied or whatever. You thought the ICO was not a free, open market.  You made your point. I don't care about all the words that flew around. Don't sweat it. Let him say what ever. Nobody cares what he says.

I don't care 1 iota.