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I don't get pos
Can you sell me why it is preferrable?
I believe people like pos due to these reasons:
1. Allows people to obtain more coins without the need of expensive mining equipment or the technical knowledge.
2. As users are holding coins in their own wallets (for the sake of generating new coins) this decreases market saturation and dampens dumping fears.
3. Encourages a buyers mindset, the more coins you have the more coins you generate.
4. Helps to secure the network with lots of live nodes, in order to earn new coins through pos users must have their wallets running.
5. Reduces electricity usage that is often ridiculed as wastefulness, save the world greenpeace global warming and all that.