What do you think about 100% PoS coins?

[rmindel]

I am really interested about how Nxt will go,
And Neon was announced 100% PoS

Maybe the time of buying GPUs/ASICs and wasting electricity for nothing will be soon over

The only problem is - if you don't have mining how do you spread the coin around...
I think NxT didn't do it right, i wonder how the next ones will do it

what do you think?

[1714590246]

1714590246

[1714590246]

1714590246

[OnkelPaul]

Don't we have enough Piece of Shit coins already?

SCNR

Onkel Paul

[hashtagcoin]

Interesting idea.

[CCCrypto]

At that point it's not much different than a low-yield checking account, right?

I don't think 100% PoS can work; I think a hybrid model (like Peercoin) is necessary to ensure continued use. Otherwise the barrier for entry (to improve your stake in any meaningful way), will be too large. You'd have to invest huge dollar amounts to make any gains, and even they would be minuscule.

Unless I'm missing something.

[rmindel]

The whole point of digital currencies is to replace the bank system, and give minimal transaction fee and fast transactions.
It's not about gaining interest, and getting rich quick schemes.

People nowadays are getting into this field only for 'getting rich schemes'...

The "mining" process of dealing with hashes is wasteful energy wise, and not really relevant to confirming transactions.
If there is nothing "to mine", you save 100's of millions in electricity that is spent on that.

so the whole point in PoS is that your wallet could do the confirming action, because it's not that cpu intensive, and to give you motivation you will get some tiny interest on your stake.