The technical and security issues are just one of many issues.

Another completely different issue is that does PoS coin have market pull?
Does the PoS message resonate with people at large?

As I understand it the current value of bitcoin comes in quite a big part from hope that bitcoin is going to the moon and even in extreme cases perhaps even some countries adopt bitcoin as their official currency.

The message of PoS has not been tested how much pull there is and I firmly believe that the market pull for PoS coin is much less than PoW coin.

The PoS message sounds way too much like telling people they should buy into a coin that is secured by Rockefellers and Rotschilds.
Some people that were in on it early on and now they are just sitting on their pile of millions doing nothing. Guess what. People do not like Rockefellers or Rothschilds. Sure if you hope you are going to become the Rockefeller or Rotcshild of the new economy you love the idea but nobody else does.

If we then think of some country they see it the other way around. A country thinks some 20 year old George or Mary in their basement are not convincing enough to be the basis to put the security of the whole economy of the country on.

The anonymity of the whoever secures the PoS coin works both ways and neither is good. The anonymity allows people to think simultaniously that the whole security is based on some bunch of 20 year guys in their basement and also at the same time that they are Rockefellers. That just is not going to be a succesful message to sell  and without a resonating message the coin is going nowhere fast.

In PoW this is not such a problem because in PoW marketing message these issues are not in front and center as they are in PoS case.

I believe PoS people understand this problem and therefore PoS people are not really convinced their own superior PoS coin is going to go places on its own. Therefore instead of selling their own coin they are in bitcointalk to convince bitcoin to surrender and die to make way for PoS. That is only way PoS can get places. But I believe that is going to be the high point of PoS if that happens and it is downhill from there.

Not everything technically superior is going to sell well.
There are lots of things that are technically brilliant but market still does not care about them.

your opinion

and "it hasnt been broken yet" is not an acceptable argument for security

So your position is that PoS is proven, but not actually proven enough that YOUR money should be at risk?

i voted no and i stopped mining a looong time ago.
i just dont think any pos system offers the same security as pow does.
and i like to keep my money secure..

if you store your gold open in your garden please dont force me to do the same because i prefer to use power to secure mine

2 points :

1) You seem incapable to empathize with the arguments from others that PoW offers different and possibly better security benefits than PoS/DPoS
2) Using your analogy you are indeed cutting off the leg or at least taking a chunk of meat out with your approach to changing Bitcoin

You appear to me as someone who doesn't have much experience working on open source projects where people voluntarily contribute code. Unless you are the project coordinator or cheif github maintainer that has been earned through years of contributions in code you have no place to be making the demands you are making.

If you truly want bitcoin to change consensus mechanisms than you either need to start contributing to the open source repo and interacting with devs in a positive way or indirectly by hiring or befriending the devs directly.

whining on a web forum is not going to produce results and may even be counter productive.

So you are afraid of the current PoS currencies? Moving your wealth into them is as drastically equivalent to cutting off your leg? Why would that be?

I NO voted because it could be an issue with forking, we don't want two versions of bitcoin floating about.

So successful in fact that you resist moving to them and troll BITCOINtalk with incessant pleas to be just like them.

Your coming off extremely judgmental and like you have a sense of entitlement to how Bitcoin should be designed and anything that isn't going your way is a "waste and leach" towards your vision of bitcoin.

Bitcoin was designed around PoW, perhaps it will change , perhaps not, but you have no place calling people shills or leaches when talking about them simply fulfilling Satoshi's design protocol.

Bitcoin is voluntary, and no one is imposing it upon you, like no one is imposing Bitshares upon us ... we are free to use either or both.
Throwing hissy fits because others don't agree with you doesn't help your cause either.

Whoop de woo, a full node, like I haven't been doing that since I started.

I am voluntarily participating in bitcoin as it was designed to work, shame on me.

What? I've been a part of keeping bitcoin running the last 2 years and I'm the shill? What have you done for bitcoin lately?

Yah srsly, if it's about using and promoting PoS crypto, take your money and fuck off into one.

If it's about a money grab so bitcoins market cap serves your personal agenda, well... keep plugging.

Nice words as usual. I didn't know about this history, interesting indeed. As the system and the community grows this issues will be more rare. I don't know how this could be an issue in such a big community as bitcoin if we decide to switch to 10k delegates DPoS or something.

And don't forget, delegates could only do what they should do.

Also think if we used that anual 1.314.000 BTC as incentive to grow the network, adoption and others instead of just dilution, proof of waste and of course securing the network.

Yes.


It's relevant to the "USD has 1% interest on savings accounts" argument you used.

Again:

If we switch bitcoin to pure PoS, without changing issuance model, what would prevent the majority from hoarding? It's a simple question.

Sunshine, let's keep some manners here, OK?

1% interest is less than inflation, does it pay to hold?

Ever heard of negative interest rates? Why did they do that?

http://www.bloombergview.com/quicktake/negative-interest-rates

Are you now saying that deflation is good for economy?

Besides, USD is a legal tender, so people will be spending it even if they don't want to. You can't really compare it to un-established crypto-currency.

Right, and the government pays your transportation costs to go and do physical banking, and buys you new pants when you wear the pockets out with change.

Everything worth doing costs something, get over it.

I agree it's too early to make a judgement based on comparing any 2 coins. But you don't need empirical data to discuss differences between PoS/PoW designs. You only need common sense for that.

NXT is probably not the best example in this case. Since it's non-inflationary, the only income you get is your share in tx fees (afaik), which atm are very insignificant. Therefore from the average holder's point of view - it's probably better to use it and keep it alive.

Now what would happen if we switch BTC to PoS (with the same issuance model)? You think it would increase activity? You have @micky123 above saying he would stop investing. I know I wouldn't be keen on buying a coffee with my PoS coins and wouldn't touch my stash to tip or donate.

If your coins generate you more coins - you don't want to spend them. Simple.

Right now you have bitcoin hoarders, who (despite all the logic) wouldn't use their coins at all. If they're further incentivised to hoard - why would they change their approach?