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Title: If I have lots of money & you ask me to invest part of it in PoS Post by: Ucy on April 20, 2021, 03:35:31 PM Assuming I have alot of money and you try to convince me to invest part of it in a decentralized project with Proof of Stake in order to qualify as a validator... I will likely never invest in such project if it's difficult for anyone to easily become a validator. I'm more interested in robust Network with consensus that anyone can easily join and leave at will. I wouldn't really trust a Cryptocurrency Network without all or majority it's participants taking part in full network consensus and monitoring the network for issues .
I'd still consider PoS very risky if you just have to pay $100 to be a validator. It should worth just your internet device, talents/skills, reputation and probably a means of identification to be a validator in a truely Decentralized Network/System. Title: Re: If I have lots of money & you ask me to invest part of it in PoS Post by: jrrsparkles on April 21, 2021, 12:58:20 AM If there is no requirements to become a validator then the network will face the spam attack and don't forget that blockchain transactions can be reversed too with 51% attack. Anyway I don't invest on those shitcoins as well where I am agreeing with you. :D
Title: Re: If I have lots of money & you ask me to invest part of it in PoS Post by: bitterguy28 on April 21, 2021, 09:23:55 AM It's your money , It's your prerogative where to spend or invest it..
Just Make sure that you know what your doing and you know what can happen to your Money. Title: Re: If I have lots of money & you ask me to invest part of it in PoS Post by: boyptc on April 22, 2021, 11:31:23 AM That's why being a validator requires an amount that can't be achieved by most. It's for those people who really cares about the network and wants to help and with the possible little to no feedback from doing so.
Well, we're entitled to what we want to do with our money and it's up to you if you're going to be one or invest it elsewhere which make it profitable and you will be satisfied with. Title: Re: If I have lots of money & you ask me to invest part of it in PoS Post by: Ucy on April 22, 2021, 03:55:16 PM That's why being a validator requires an amount that can't be achieved by most. It's for those people who really cares about the network and wants to help and with the possible little to no feedback from doing so. Well, we're entitled to what we want to do with our money and it's up to you if you're going to be one or invest it elsewhere which make it profitable and you will be satisfied with. It's not really about the money. It's about full decentralization and security of a network. Would you accept it if your leaders/politicians ask you to pay certain amount of money in order to take part in governance or voting in election? A public network ought to be open to governance and consensus without restrictions. It shouldn't be determined by money... the qualifications should be by merit. I think there are networks where you can stake some of amount of money to earn reward without participating in consensus, right? I don't have problems with them even though I have never attempted staking before nor inquire about how they work. Why I'm more interested in PoS is because of its vulnerablity that can be exploited by those who wish to centralized a cryptocurrency. |