Ethereums POS system isn't as I thought?

[cryptohunter]

After talking to a few others it seems ethereums POS is nothing like the POS with other alts.
From what I can gather you will require a minimum of 1250 ethereum and even then only 250 persons will be chosen or elected as validators? even then you could be fined ether if you dont have the required bw or resources to validate at any given time?

Also only the first few slots are available at 1250 it scales up rather harshly after that?

Is there a reason only 250 people will secure the network? Is the reason speed?  would it not make it more vulnerable to attack having so few validators? or not?

Who understands the ethereum POS method and the reasons behind it?

[1713996101]

1713996101

[1713996101]

1713996101

[Johnyloco]

It is probably made that way so that only a few people get rich, seems like Ethereum was mostly made for that purpose  If you have enough money I suggest having a talk with Vitalik, he can probably help you with that, and it's always good to have some friends up high 

[Hueristic]

It was a scam from day one and you guys are just figuring it out now really?!?!?!?!

[Spoetnik]

It was a scam from day one and you guys are just figuring it out now really?!?!?!?!

I guess they did not get suspicious when the pumped in 2016 shell of a project ICO coin from 2014 had mining tacked on in 2016 was a scammy operation.. apparently the leader dumping a Million dollars worth of coins was not a tip-off either.. or the blatant gimmick.. APP's

Maybe Butters & friends can start another DAO and REALLY convince these guys ?
..then fork around for awhile promising Bitcoin is dead.. long live it's replacement.
..used by Microsoft, Big Banks and IBM.

PS:
$100 a coin in 6 months i hear  

Bitcoin never had a chance.. RIP BTC

Bitcoin.. it was a thing

[shyliar]

My understanding is that centralization is required to scale. 250 only nodes confirming helps with that.

[CoinBreader]

So ETH will become centralized ! and 1250 is not a amount can everyone can have ! epic.. just grab 50ETH and leave them for ever just in case..!

[kiklo]

Centralization is not a requirement of Proof of Stake,

That is just a requirement by the Devs to keep centralized control of ETH.

Which Eth will die a flaming death, however just for reference
Currently it has less the 40 mining pools.
https://etherchain.org/statistics/miners

Therefore less than 40 individuals determine ETH direction with their PoW design.
250 nodes owned by separate people would be over 6.25 times what they have now.  

But just to reiterate my personal viewpoint
Eth will die a flaming death.



 

[Come-from-Beyond]

After talking to a few others it seems ethereums POS is nothing like the POS with other alts.
From what I can gather you will require a minimum of 1250 ethereum and even then only 250 persons will be chosen or elected as validators? even then you could be fined ether if you dont have the required bw or resources to validate at any given time?

Also only the first few slots are available at 1250 it scales up rather harshly after that?

Is there a reason only 250 people will secure the network? Is the reason speed?  would it not make it more vulnerable to attack having so few validators? or not?

Who understands the ethereum POS method and the reasons behind it?

Why don't you troll IOTA instead? Ethereum is beyond your comprehension.

[cryptohunter]

After talking to a few others it seems ethereums POS is nothing like the POS with other alts.
From what I can gather you will require a minimum of 1250 ethereum and even then only 250 persons will be chosen or elected as validators? even then you could be fined ether if you dont have the required bw or resources to validate at any given time?

Also only the first few slots are available at 1250 it scales up rather harshly after that?

Is there a reason only 250 people will secure the network? Is the reason speed?  would it not make it more vulnerable to attack having so few validators? or not?

Who understands the ethereum POS method and the reasons behind it?

Why don't you troll IOTA instead? Ethereum is beyond your comprehension.

It's already a pariah project now. No need to clutter the main board with it at this time. I'd prefer not to mention it at all if possible.
Please stop name dropping that scheme into every thread.

Try to keep on thread and remain civil and helpful else remove yourself and create your own.

This is an information thread for those that may be interested, some of which I'm sure would be able to comprehend to a reasonable degree.

You don't seem to realise that some threads are of interest to other people aside from myself. So please don't contaminate the thread with your brand of childish personal remarks and lack of any substance that may provide useful for those interested in this topic.

Although you're a reasonably intelligent fellow (come from beyond is beyond my level of comprehension)  I suspect there are several individuals on this board that could comprehend many things you would be crushed by. How would you like them to tell you to stop enquiring and trying to learn? inhibit discussions that many others could benefit from?
It is not your place. Please improve your manners and customs. What is acceptable in certain places in the world is not acceptable in others. Same for rigged self enrichment schemes, to you they may well seem fine and fair... to others they may seem less so. We need to be able to discuss the observable events without personal childish comments and remarks.


This thread is regarding the POS method eth will employ after the POW phase is done.

[Come-from-Beyond]

This thread is regarding the POS method eth will employ after the POW phase is done.

This thread would be regarding the POS method eth will employ after the POW phase is done... if it wasn't started by you. Here you are just playing concern troll card. As usually.

[iamnotback]

From what I can gather you will require a minimum of 1250 ethereum and even then only 250 persons will be chosen or elected as validators? even then you could be fined ether if you dont have the required bw or resources to validate at any given time?

Is there a reason only 250 people will secure the network? Is the reason speed?  would it not make it more vulnerable to attack having so few validators? or not?

Who understands the ethereum POS method and the reasons behind it?

So ETH will become centralized ! and 1250 is not a amount can everyone can have ! epic.. just grab 50ETH and leave them for ever just in case..!

Pay attention to where I wrote, "Vitalik probably proposes to have shard validators trust each other with forfeitable deposits, but that like PoS destroys Nash Equilibrium. As well as I explained my video, external business logic can conflate shards even if cross-shard messages are restricted, leading to chaos, discontent when a shard validator set has lied (for profit obviously), and a drop in the value of the token. Bruce Wanker will be laughing again.".

Also listen to my video about why validation must always become centralized, and read the Ethereum Paradox thread.

Readers I was telling you last year that Casper can't work technically. Sigh.

[Greenenergy]

It is still up to debate ? I thought that there will never be a transition to PoS and that will PoW will stay forever.

[spartacusrex]

The system requires multiple miners to validate the blocks. This is why there is a limit to the number of miners allowed. otherwise the system won't converge as too many miners will be required and the network latency will prevent it from happening within a viable amount of time.
..

I think a network like Ethereum should not be spending resources running POW when there is so much other processing that needs to be done.
..

the thing is.. once they do switch to POS any fork can provide the EXACT same security ( POS not POW ). This will mean ETH1 , as I think of it, will become more of a reference, and many more networks will sprout up.

I'm not sure how that will play out.

[ratatatat]

As a matter of fact there is not a single pos-coin on the market which isn't broken one way or another.

Go figure.

[kiklo]

As a matter of fact there is not a single pos-coin on the market which isn't broken one way or another.

Go figure.

That is kind of a blanket statement, which I believe to be untrue.
So here are some PoS coins, please detail how each is broken in your understanding.

ZEIT
HoboNickel
Evergreencoin
Blackcoin

 

[ratatatat]

As a matter of fact there is not a single pos-coin on the market which isn't broken one way or another.

Go figure.

That is kind of a blanket statement, which I believe to be untrue.
So here are some PoS coins, please detail how each is broken in your understanding.

ZEIT
HoboNickel
Evergreencoin
Blackcoin

 

I remember BC having problems. The others are too worthless to be attacked.

[kiklo]

As a matter of fact there is not a single pos-coin on the market which isn't broken one way or another.

Go figure.

That is kind of a blanket statement, which I believe to be untrue.
So here are some PoS coins, please detail how each is broken in your understanding.

ZEIT
HoboNickel
Evergreencoin
Blackcoin

 

I remember BC having problems. The others are too worthless to be attacked.

In other words you are making up shit, and have no details to back up your statements.  

 

FYI:
Definition of Broken : having been fractured or damaged and no longer in one piece or in working order.
(All of the PoS coins networks mentioned above are working , so your statement was false.)    

[ratatatat]

As a matter of fact there is not a single pos-coin on the market which isn't broken one way or another.

Go figure.

That is kind of a blanket statement, which I believe to be untrue.
So here are some PoS coins, please detail how each is broken in your understanding.

ZEIT
HoboNickel
Evergreencoin
Blackcoin

 

I remember BC having problems. The others are too worthless to be attacked.

In other words you are making up shit, and have no details to back up your statements.  

 

FYI:
Definition of Broken : having been fractured or damaged and no longer in one piece or in working order.
(All of the PoS coins networks mentioned above are working , so your statement was false.)    

Let's talk about the bigger and formally more popular POS-coins PPC, CLAMS and VRC
Why are they all this low? Can you try and explain the abysmal price slump of these coins?

Which pos-coin do you consider the leading one? Blackcoin? Likely that was compromised aswell, just needs a bit of diggin'. Afterall it's also not valued incredibly high and usually there's a reason for that.

So tell me: what happened to PPC and what happened to Vericoin to make them fall from grace like that?

[Come-from-Beyond]

As a matter of fact there is not a single pos-coin on the market which isn't broken one way or another.

Go figure.

WARNING: A brainless Bitcoin Maximalist spotted.

[ratatatat]

As a matter of fact there is not a single pos-coin on the market which isn't broken one way or another.

Go figure.

WARNING: A brainless Bitcoin Maximalist spotted.

translation: i don't have a good answer so i need to make rediculous ad hominem accusations.

It's also a conspiracy theory btw and i think people who believe in a bitcoin conspiracy are a bit strange. The tinfoilhat-type.

edit: haven't you been a pos-coin dev or is your account bought? Why don't you comment on why nxt is so very cheap too or tell us about how bter got hacked?