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Author Topic: Can someone explain to me how PoS works?  (Read 2871 times)
spartak_t
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May 09, 2015, 08:48:26 AM
 #61

Because POS is also much better than POW because you don't get the sell pressure and when you do it's from people who already invested.

OP asked how POS works.

Can we agree that PoS has more positive things than flaws (like inflation, on which Daedelus is avid supporter Grin)?

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Crestington
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May 09, 2015, 09:13:51 AM
 #62

Because POS is also much better than POW because you don't get the sell pressure and when you do it's from people who already invested.

OP asked how POS works.

Can we agree that PoS has more positive things than flaws (like inflation, on which Daedelus is avid supporter Grin)?

I didn't read the whole thread but I think it has more positives than flaws.

and also i want to let you know that today i doubled my holdings just by staking  Grin
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May 09, 2015, 09:23:55 AM
 #63

and also i want to let you know that today i doubled my holdings just by staking  Grin

Yeah, I've checked last posts on PayCon while I was looking on it's specs. Kinda crazy interest. Smiley

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May 09, 2015, 09:28:24 AM
 #64

and also i want to let you know that today i doubled my holdings just by staking  Grin

Yeah, I've checked last posts on PayCon while I was looking on it's specs. Kinda crazy interest. Smiley

Well I think you may be able to get away with higher interest if it's a static reward because the reward per year reduces as the money supply grows. If you have high compounding interest then it just goes to the floor and creates a revolving door at 1 Satoshi.
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May 09, 2015, 07:26:54 PM
 #65

Because POS is also much better than POW because you don't get the sell pressure and when you do it's from people who already invested.

OP asked how POS works.

Can we agree that PoS has more positive things than flaws (like inflation, on which Daedelus is avid supporter Grin)?

You haven't been reading the posts in this thread. Troopnetpt and I are against inflation, you are the only one in favour.

It would help if you stopped trying to distort others views and just present your own.
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May 09, 2015, 08:25:34 PM
 #66

I cannot comment on nxt since unfamiliar with how the code works, never had time to review the source....

That being said, pos fails the byzantine generals problem so while I think it has a lot of great ideas and I used to think it was cool ....

I feel differently now,  proof of work is the best...


For more on the Byzantine Generals Dilema http://pages.cs.wisc.edu/~sschang/OS-Qual/reliability/byzantine.htm

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May 09, 2015, 08:30:37 PM
 #67

pos fails the byzantine generals problem

Could you elaborate what makes you think that?
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May 09, 2015, 09:23:13 PM
 #68

I cannot comment on nxt since unfamiliar with how the code works, never had time to review the source....

That being said, pos fails the byzantine generals problem so while I think it has a lot of great ideas and I used to think it was cool ....

I feel differently now,  proof of work is the best...


For more on the Byzantine Generals Dilema http://pages.cs.wisc.edu/~sschang/OS-Qual/reliability/byzantine.htm

I disagree because large holders would sell for profit if the price went high enough and are sometimes forced to sell due to economic issues (rent, bills etc.)
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July 19, 2015, 06:32:56 PM
 #69

I need to keep up this thread to better understand how POS works.
How is a coin/block in a wallet selected to create the next block?
More coins in a wallet, more age the coins, more weight and so more chance to be selected. But what about the hash and mathematical calculus? Is there a paper or something else where to study on?

thanks

       


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Crestington
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July 20, 2015, 06:11:17 AM
 #70

Because POS is also much better than POW because you don't get the sell pressure and when you do it's from people who already invested.

OP asked how POS works.

Can we agree that PoS has more positive things than flaws (like inflation, on which Daedelus is avid supporter Grin)?

You haven't been reading the posts in this thread. Troopnetpt and I are against inflation, you are the only one in favour.

It would help if you stopped trying to distort others views and just present your own.

I am in favor of inflation because if you have higher inflation then people will pull their Coins off the exchanges in order to Stake them which reduces the amount of sell orders on the exchange and increases the security of the network. When you have higher inflation (the sweet spot), there is enough liquidity that you have high volume on the exchange and people can trade on the exchanges and make profits of buying and selling but if bought it a little high, then can hold on to them and Stake and still gain profit later on. A lot of buying and selling (volume) creates distribution and over time it distributes the Coin more evenly provided there is also a good amount of development work happening. Very few people are going to buy and hold on to any Coin forever, especially if they are building a good amount of Coins and the price is rising, if you bought 1 btc worth and now it's worth 10 btc then you would probably sell some to make ROI.
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