Bitcoin Forum

Why none of pos coin is successful?
As we see, PPC once is in the third place in the coinmarketcap, but now, it's out of top 10.

Have you ever heard about clams? They doing great and the price is stable, not to mention that has a support that most of the altcoins dont count with.

With PoW there's a cost associated with producing a coin with mining equipment and electricity so miners won't sell their coins any cheaper than that which creates a floor price. With PoS there is no cost of production, you just have to own and hold coins which also means that everybody can stake their coins.
Another significant difference is that newly generated PoS coins are going to people who are already holding the coins as a reward. That is generally not true for PoW. And more coins mean inflation so in essence PoS coins are rewarding stakers with free coins at the cost of inflation. Personally it doesn't make sense to me why anyone would invest into PoS coins especially considering the average lifespan of coins and how rapidly things change in crypto - but that's jut me.

Do you know any POW coin that is successful ?

Yup, you have a point.  Bitcoin can't be considered a total success yet.

TransitCoin will change the views of users about POS coin. It will have a floor price of 1$ we will always buy back it and user will be able to mine it on our pool using virtual mining contracts :-)

Please visit:

https://bitcointalk.org/index.php?topic=1057084.new#new

^ LOL, can't we get a discussion without people shilling their bullshit coins in here?  Thanks for the laugh though.

i think its because of there are so many POS coin to choose from and there are also lots of scams happening
that's why investors loose interest on POS

Damn, why isn't there a “follow” button on this BBS? That's three people I've encountered now who are also from planet Earth, I was beginning to think I was the only one.

Cheers

Graham

You assume all POS algo's have inflation, which isn't the case.

I assume by success you mean marketcap ranking. These winners will not be determined by mining algorithms. Traders and investors generally don't look at code when making financial decisions.

There are plenty of pos coins still alive and well. Few have failed and so have pow coins. I don't think being #1 on market cap is the only way to see success. Dogecoin probably has more users than BTC but its value is as much. More people own Doge than BTC. In that case Doge is more successful. 

Coinmarketcap is a completely useless number - or at least wildy overestimated or misunderstood in my opinion.

As fluctuating as the daily trading volume is, it still has way more merit imo (top15 by cap):

I don't see any pos coin being very successful.
Maybe it is because due to the lack of real world users using the coin and these coins are mostly for pump and dump purpose only.

Mintcoin "MINT" is successful. Its a great PoS coin.

Lel

We've heard that one before.

+1 reply of the day  8)

I have heard that floor price argument quite alot, and most of the time people get it wrong (I am not saying you do, I dont know).

Economically the costs at which the coins were produced are irrelevant. The only thing that matters are the costs to reproduce the same coins in the moment of selling. Thats the first thing so many people fail to understand when asking what the mining costs of a coin were. I admit there is a psychological barrier to sell at a loss once you have mined which might create a temporary floor, but not for long. Its not like we havent seen miners sell at a loss before.

So what matters are the current production costs , not former costs, which means the current hashrate. For me mining a coin is just another form of demand. I can either buy a coin directly or chose to mine it. In case of POS coins, mining is not an option, so all demand is manifesting as demand on exchanges. I really cant see why the possibility of mining a coin - if you accept what I just wrote - does add any floor. POW coins can just die as POS coins can die.

I also really dont see the problem that staked coins go to those that already have coins, unless of course we are talking about one of those 250%+ coins, but we will all agree that those are more for fun/gambling/ripping off people and irrelevant in the long run.

The average lifepsan of a POS coin is pretty short, but the same is true for many POW coins. There are quite a few POS coins in the top 30. That the top ten is heavily dominated by POW coins might have something to do with the first-mover advantage (its not like the second doesnt have an advantage over the third and so on, just smaller). If I am not mistaken the top ten is not so much dominated buy POW, but by older coins - that all used to be POW coins. Feel free to correct me here as I am not entirely sure here.   

May i please know what's your definition about bullshit coin. Prior making mind set try to analyze things properly :)

no pos coin is successful because they aren't worth anything. i can launch a pos tomorrow for 1btc and pimp it out for all to "profit"

most have ninja premines, scammy icos, or just pure scams.

Don't you see the 9th: NXT, which is PoS coins. The price bounces back over 0.00004700 BTC / NXT level. It built on Java from the scratch. It has many features and a lot of ongoing projects. Behind it the dev team is very active.   

OP ignores one big factor: demand! If the PoS coins are really good and attract many ppl's attention, ppl are buying up the coins. The price of the coins will definitely increase.

sorry, i was mostly referring to the newer generation coins.  NXT is an original, before pos coin spam, it has its own problems but it will live on longer than most pos coins.

Proof of Stake coin wallets generate new coins by staking your existing balance. Conversely all the NXT coins that will ever exist were generated in its genesis block and its impossible to stake NXT coins.

NXT is not a PoS coin.

Because new pos coins have no significant disadvantage over existing pos coins, which goes on for ever and ever.
Endless "limited" coins.

Wow, an impressive attempt to redefine the crypto landscape  :D

I think you may believe "POS" is shorthand for "POS+Inflation" ? If not POS, then what is Nxt?

You cannot stake your NXT coins to generate new NXT coins. The term NXT uses is forge because the only block reward for a NXT miner is the transaction fees paid on a particular block. The term forging was chosen to indicate that no new NXT coins can ever be generated.

PoS coins are more likely to fail then PoW coins because people want to MINE coins, or be able to mine them and stake them.

POS coins do the exact opposite what crypto should do... It makes the rich richer which in turn hurts the decentralization. So in short, pos coins are just for pump&dumpers who prey on fools.

So how does any of your points support your statement 'Nxt is not a POS coin"? It seems to do the opposite. Unless you weren't finished? 'Nxt is not a POS coin... it is a POS platform.'  :D

The total coins available for Proof of Stake coins increases over time, whereas NXT has a fixed number of coins that remains constant over time. That's why NXT is not a PoS coin.

Give this man a medal!

because there was not any good POS coin launched with fair initial distribution, most coins launched were for quick profit, without a long term view

Your example makes no sense. Though I must have missed the memo from the high commissioner of crypto decreeing as much...  ;)

How about if the rich get richer at the same rate as everyone else?