The misconception of what socialism even is in this thread is disappointing.
You all do realize that Bitcoin in its purest form is a type of communist concept right? Satoshi was trying to even out the field in the world of the haves too much and haves not much at all.
Even XEL "Decentralized" motto should tell you everything
Anyways I'll be shutting off my node as seeing members in the community just see this as a "get rich quick scheme and let's centralize it". I'll be watching from the sidelines.
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It simply doesn't make any sense what you are inherently proposing here. Cryptocurrencies are not socialism and wouldn't work if someone would try to force socialism onto them. Cryptocurrencies and the whole cryptocurrency economy are pure capitalism. If you like it or not.
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I also see a lot of this extreme socialist kind of thought that comes from intellectual laziness - people often ask for "equality" without even considering the actual consequences of it. Further they don't even think of the fact that whenever communism or extreme socialist agendas have been attempted they have often resulted in even more inequality by creating a tiny oligarchy which lives in absolute comfort whilst everyone else is forced to have equality in miserable poverty.
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Could you please leave out the political talk? Every time I read "socialist" or "communist" somewhere, I know I'm about to see a massive mudflinging fest, with no winner, but a lot of losers.
Regarding the "rich getting richer" thing:
What is called PoS in XEL is not exactly a rich getting richer scheme. Apart from transaction fees, there is nothing to earn. In the last hour, there were four transactions, which add up to 0.4 XEL transaction fees. And someone has to mine those blocks which have no transactions at all.
I'm pretty sure that no matter how big a whale you are, at the moment, staking loses you more money than it makes. This indicates, that whoever is staking at the moment, does this either for fun or because they believe in the future success of Elastic, when there will be multiple transactions per block and staking might actually be profitable. At the moment, it loses them money rather than making them money.
That all being said, I have yet to see a convincing concept of a "Proof of…"-system that rules out the possibility of people with lots of money buying a better position, be it by buying stakes (PoS), hardware (PoW) or votes (DPoS). I'm not exactly a fan of "rich getting richer" schemes myself, which, admittedly, is partly because I'm not one of them, but as long as there is no convincing alternative solution, I consider it a given.
This has nothing to do with politics, but with inevitable effects resulting from applying a set of rules. You can't choose only the parts that you like and leave out the rest, that is not how these systems work. You can only change so much to keep a system in a workable state, anything else has to be adapted to the given set of rules (and the consequences following these rules).
