Advantage of PoW over PoS

[ðºÞæ]

No Government or Bank will ever create a Proof of Work (PoW) coin, period.  It separates the Men from the Boys.

[duphash]

No Government or Bank will ever create a Proof of Work (PoW) coin, period.  It separates the Men from the Boys.

If PoW requires energy and energy is controlled by govt and banks then why do you consider PoW being different than PoS ?

[rnicoll]

What prevents someone from stealing million BTC from any exchange ? I don't see how PoW prevents this.
With decentralized Asset Exchange like NXT  trade.secureae.com  problem of stealing from exchanges does not exist.

BTC pump of 2013 - 2014 shows that mined currency does not have to be sold and can be hoarded too.

I still don't see compelling arguments in favor of PoW.

I believe there's two points here:

1. With PoW coins, there's no advantage to keeping the coins online, while with PoS coins the exchange is motivated to store coins online where they can stake them.
2. With PoS coins, a major theft can put a huge chunk of mining power into the hands of a malicious actor. See the case with the Vericoin hack from Mintpal, where 30+% of the total supply was stolen, leading to a hard fork to revert the transaction: http://www.coindesk.com/bitcoin-protected-vericoin-stolen-mintpal-wallet-breach/

[duphash]

What prevents someone from stealing million BTC from any exchange ? I don't see how PoW prevents this.
With decentralized Asset Exchange like NXT  trade.secureae.com  problem of stealing from exchanges does not exist.

BTC pump of 2013 - 2014 shows that mined currency does not have to be sold and can be hoarded too.

I still don't see compelling arguments in favor of PoW.

I believe there's two points here:

1. With PoW coins, there's no advantage to keeping the coins online, while with PoS coins the exchange is motivated to store coins online where they can stake them.
2. With PoS coins, a major theft can put a huge chunk of mining power into the hands of a malicious actor. See the case with the Vericoin hack from Mintpal, where 30+% of the total supply was stolen, leading to a hard fork to revert the transaction: http://www.coindesk.com/bitcoin-protected-vericoin-stolen-mintpal-wallet-breach/

NXT decentralized exchange solves that problem too. No central exchange - no concentration of staking power and theft risks.
Am I right ?

[Nxtblg]

NXT decentralized exchange solves that problem too. No central exchange - no concentration of staking power and theft risks.
Am I right ?

Yes, you are right. As long as secure passwords are used for the wallets - which you think we'd all have learned by now - Nxt's decentralized exchange does not have that point of failure.