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I would like to ask some more difficult questions:
How often does one need to transact to keep mining via POS?
Are the transactions used as a source of entropy for block chain obfuscation?
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THE BITCOIN NETWORK IS NOT THE ANSWER TO OUR FAILING FINANCIAL SYSTEM!!
The Bitcoin Network has added extra strain to the failing financial system. One reason the financial system is failing is due to inefficiency, often caused by corruption. The Bitcoin Network increases the potential for this corruption and inefficiency, not the other way around.
Bitcoiners are like… "oh this ponzi scheme is going to solve our economic problems! Winklevoss told me so!"
Sorry, that's not the case.
WORK TO CENTRALIZE THE NETWORK
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bitcoin will not become the next REAL money. When everything crashes electronics, guns, and silver will be the money. Bitcoin is a scam and so is mastercoin. Look at the rampant corruption within the VC community and bitangels. Look at how David Johnston forces centralized corruption on future implementations of the blockchain. He conned maidsafe into accepting MSC which is total crap.
All the signs are there for runaway corruption followed by a huge price collapse!!!
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Crypto is evolving to the point where uploading content is the future of "mining."
This poses an interesting problem as there is considerable content that has already been created; Who will mine this content?
Some believe the public should be allowed to mine this content in a first come first serve manner.
Unfortunately, StorJ's Metadisk is posing a threat of premining content. This should be opposed vehemently.
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The organization of society inevitably results in a power structure that gets corrupted against he people. This is happening as we speak in crypto currency. The Bitcoin Foundation, DApps Fund, Meetup Leaders, are all banning together to swindle the common man.
At a bitcoin meetup last night I was instructed that "the way new cryptos are released" is with 100% premine and IPO. This is crap.
There are organizations of greedy people in crypto who are looking to use their similar interests to exploit people.
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As people we are all attempting to fulfill a natural desire to have power. Some are born with more of a natural ability than others such as intelligence. A few are intelligent enough to be intrinsically powerful through their intelligence. The same goes for many other skills.
However, the majority of people are not intrinsically powerful due to an outstanding skill. These people seek the consolation prize: money. Money grubbers can be seen hoarding their only way of moving up the social ladder. Now they can have a little more power over material than their fellow man. This increase in power is very addicting to the money grubber. His ears perk up at the thought of a chance to make more money. His life is lived to fulfill the advancement of his power and he has found an outlet to do so through hoarding.
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