Not larger, better. There are ways to create a PoS cryptocurrency with fair interest and supply, which can match (for example) to mined bitcoins per year.
Maybe when you own some and just hold it, but how will people get that supply if they don't purchase some? That's pretty scammy (ponzi'ish) to me I would say... and yet at the same time, not even remotely close security wise compared to a PoW algorithm. It sounds good to you on paper when you worry about collecting interest like a bank, but the whole point of cryptocurrencies is to get away from a "banking" like system and to create a decentralized currency that (theoretically) anyone can get by running nodes and mining, while also making it secure and decentralized.
Now in my mind, ASIC resistance is the way to go... but could be wrong.
The thread is not about current pros and cons of PoW and PoS. Of course that you have to purchase some in order to take the interest. What matters here is how this interest will be distributed (i.e. currently PoS is making rich richer) between stakeholders. The whole point of cryptocurrencies is to compete with fiat (i.e. to show it is the better way), which means that
they are competing with the banks. As far as I know there is nothing decentralized at the moment and that is why I started this thread. I'm not sure if it will be ever achieved.
Without redistribution everything gets centralized roughly along the lines of the Pareto Principle...
80% of sales from 20% of clients, 80% of wealth owned by 20% of population, etc...
Because that's human nature... and you cannot change human nature.
https://en.wikipedia.org/wiki/Pareto_principleFor anything to be differently distributed requires heavy-handed, corrupt central abuse...
So by that standard Bitcoin and most Third World governments are extremely corrupt...
While most Western governments and corporations are are moderately corrupt, but getting worse every year.
I've been waiting for a crypto ecosystem to apply periodic REDISTRIBUTION based on meritocracy...
And Steemit talks a lot about transferring wealth to contributors from non-contributors in their Whitepaper...
Plus only Steemit has the metrics and power to do a periodic redistribution among holders...
If they did a carefully weighted, logarithmic redistribution quarterly to ALL contributors (devs, content, users, voters, traders)...
It would be radical and electrifying.
