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Author Topic: PoW vs PoS- Proof-of-Stake Might be the Winner here (Save the Environment)  (Read 1064 times)
Wind_FURY
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November 01, 2018, 08:33:03 AM
 #61

Any POS coin? Be specific.

Plus why should we grant the originators of the, "POS coin that replaces Bitcoin", perpetual power over the network and its users?

Any
low inflation PoS coin,

go look for one that you personally like and quit being a dumbass.
(Low Inflation rates vary from 5% down to less than 1%, take your pick.)

Any? Without consideration if that POS coin is really better than Bitcoin? Name one low inflation POS coin that could replace Bitcoin. I promise I won't laugh.

Quote
If you are so stupid you believe going with a Low inflation PoS coin gives them perpetual power over you then

1. You are a dumbass , because if they sell their coins, their so called perpetual power is diminished since they have to sell from their principle.

They have perpetual power because it cost the originators nothing to stake. What gave them the right to keep power perpetually, and why should we grant it to them?
  
Quote
2.  You can stick with your Bitcoin , where the Few Elite Chinese Miners actually do have perpetual power over the network and it's users.
    (Funny how the fact you are literally the Chinese Miners bitch does not bother you in the least.)

The "few" are going to be "many". Japan and South Korean companies are doing their own research and development in ASICs for POW. Bitmain will not "rule" forever, if that's what you believe. While POS originators and whales will perpetually have the power over the network and its users.

Quote
3.  Stick with Fiat and your Government elected overlords.

What? Hahahaha!


Quote
For people that want freedom, Proof of Stake is the only game in town , because it is the only one where you can still confirm your own transactions.

"The only game in town"? Which cryptocurrency are we talking about? Cool

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November 01, 2018, 03:44:09 PM
Last edit: November 01, 2018, 04:08:37 PM by Zin-Zang
 #62


Quote
If you are so stupid you believe going with a Low inflation PoS coin gives them perpetual power over you then

1.  Because if they sell their coins, their so called perpetual power is diminished since they have to sell from their principle.

They have perpetual power because it cost the originators nothing to stake. What gave them the right to keep power perpetually, and why should we grant it to them?
  
Quote
2.  You can stick with your Bitcoin , where the Few Elite Chinese Miners actually do have perpetual power over the network and it's users.
    (Funny how the fact you are literally the Chinese Miners bitch does not bother you in the least.)

The "few" are going to be "many". Japan and South Korean companies are doing their own research and development in ASICs for POW. Bitmain will not "rule" forever, if that's what you believe. While POS originators and whales will perpetually have the power over the network and its users.


@ WindFury,

Ok you want a coin picked for you by someone else,  You go with Blackcoin as your PoS Choice.

PoS coins go dormant after they stake , No PoS holder can maintain dominance over a PoS network if his coins are dormant.
This dormant period gives other stakers a chance to stake, Bitcoin PoW does not have a dormant period.

Chinese miners which (Bitmain is 1) have ruled for over 2 years with ~70% ,
Sorry no signs of them losing power whatsoever, in fact with the recent price failures of bitcoin to return above $10000,
those Chinese miners are in a better position to not only maintain their % , but increase it.
That is the advantage to getting in early, they already have the infrastructure and experience required.
Enjoy that silly hope that they will be dethroned.  Cheesy

In the meantime , Bitcoin Miner do have perpetual power over your money ,
however due to the dormancy period No PoS coin holder has perpetual power over your transactions.
If you can't grasp that , that failure of understanding is on you and no one else.

To try and make you think , answer this:
If a PoS holder never sells any of his coins , exactly where is the profit for him?
What good is his ever growing % of coins, if he never exchanges any for worldly goods?

Once you realize the answer to that,
it becomes apparent the PoS holder will always sell a % of his coins which will decentralizes a PoS network.
In Contrast to
a PoW Network where the PoW miner can sell 100% of his coins and still keep centralized control over the PoW network using his ASICS.

A Low Inflation PoS Design moves toward Decentralization or the PoS holder never profits.

A PoW Design moves toward Centralization as only the elite rich can maintain it insane energy arm race.


FYI:
Sidenote: PoW coins like Bitcoin allow the miners to choose transactions based on what fee price is payed,
Approving or Denying transactions if you don't pay their current extortion rate of the day

The Majority of PoS coins , charge a fixed low rate fee with no refusals or delays waiting approval from the staker,
also the transactions are entered in the order of appearance not a random order like PoW, (where higher fees jump in front of the line.)

The Standard PoS wallets don't have an option to refuse transactions,  they process all transactions in order by default.
Just another reason PoS is superior to PoW. Increase fairness and reliability in transaction processing.

FYI2:
ZEIT for example can process Maximum Transactions Capacity ~12 million transactions per day Onchain
Bitcoin Onchain Maximum Transaction Capacity even with Segwit is inferior to ZEIT transaction performance.

I was Red Tagged because Lauda Blows Theymos to get back on DT
The rest are just lauda's personal butt monkeys=> Hhampuz , Vod, TMAN , achow101
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November 02, 2018, 04:45:51 AM
 #63


@ WindFury,

Ok you want a coin picked for you by someone else,  You go with Blackcoin as your PoS Choice.

PoS coins go dormant after they stake , No PoS holder can maintain dominance over a PoS network if his coins are dormant.
This dormant period gives other stakers a chance to stake, Bitcoin PoW does not have a dormant period.

Chinese miners which (Bitmain is 1) have ruled for over 2 years with ~70% ,
Sorry no signs of them losing power whatsoever, in fact with the recent price failures of bitcoin to return above $10000,
those Chinese miners are in a better position to not only maintain their % , but increase it.
That is the advantage to getting in early, they already have the infrastructure and experience required.
Enjoy that silly hope that they will be dethroned.  Cheesy

But you support POS in which the originators, stakers, whales of the network are granted perpetual powers because it costs them nothing to process, validate, or to vote on the network's behalf.

Quote
In the meantime , Bitcoin Miner do have perpetual power over your money ,
however due to the dormancy period No PoS coin holder has perpetual power over your transactions.
If you can't grasp that , that failure of understanding is on you and no one else.

There are costs in POW and will always be. Bitmain will not "dominate" mining forever. It is you who do not grasp the situation, especially the situation in POS.

Quote
To try and make you think , answer this:
If a PoS holder never sells any of his coins , exactly where is the profit for him?
What good is his ever growing % of coins, if he never exchanges any for worldly goods?

As a monetary system, the creation of POS coins from thin air have no costs, staking them to maintan the network have no costs. Why should "they" be granted the right to keep their power perpetually for free?

Quote
Once you realize the answer to that,
it becomes apparent the PoS holder will always sell a % of his coins which will decentralizes a PoS network.
In Contrast to
a PoW Network where the PoW miner can sell 100% of his coins and still keep centralized control over the PoW network using his ASICS.

A Low Inflation PoS Design moves toward Decentralization or the PoS holder never profits.

A PoW Design moves toward Centralization as only the elite rich can maintain it insane energy arm race.

POS bears no cost to keep their power, POW bears costs and it is becoming more costly, especially for Bitmain now that competitors are coming in.


Quote
FYI:


Zeitcoin? Good luck. It will NEVER replace Bitcoin.

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bones261
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November 02, 2018, 05:42:52 AM
 #64

however due to the dormancy period No PoS coin holder has perpetual power over your transactions.


What "dormancy period" are you talking about? Are you talking about having to wait a certain amount of confirmations before your coins can stake again? All one needs to do is use coin control and split their transaction into several different addresses, and recombine them when and if a UTOX gets too small. You can basically maintain the same staking weight perpetually, using only one node. Those with the most coins will have their weight affected much less after each stake than the little guys who only have a few coins to split.


.Mix coins.
 
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Zin-Zang
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November 02, 2018, 05:53:56 AM
Last edit: November 07, 2018, 03:52:57 PM by Zin-Zang
 #65

however due to the dormancy period No PoS coin holder has perpetual power over your transactions.


What "dormancy period" are you talking about? Are you talking about having to wait a certain amount of confirmations before your coins can stake again? All one needs to do is use coin control and split their transaction into several different addresses, and recombine them when and if a UTOX gets too small. You can basically maintain the same staking weight perpetually, using only one node. Those with the most coins will have their weight affected much less after each stake than the little guys who only have a few coins to split.


Peercoin dormancy period 90 days
Tekcoin  dormancy period 30 days
Mintcoin dormancy period 20 days
Zeitcoin dormancy period  1 day  

You think you have enough of any of those coins to maintain control for that many days over everyone else.

What I saying is you can't block all of the transactions in a PoS network like you can in a PoW network.

And you would need alot more than 51% to even try it.

* IF a Bitcoin miner has 51% , he can basically find every single block in a row and therefore 100% control what transation are or are not included.
* In a PoS network even if the holder had 70% , he still be unable to find every single block in a row and control the transaction like what a PoW miner can do.
(The Dormancy period prevents constant control in PoS like what a PoW miner has.)

FYI:
The Dormancy period is the time before a block of coins is eligible to stake again after staking.
Staking weight is never constant as coins using coin age , # of coins are multiplied by the time since last staked.
So the more you split those coins into more blocks the less your chance of staking quickly.
As far as the little guys go that can't afford alot of coins, there best option is to combine all of their coins in 1 block and then use coin age to multiple that amount so it can earn new coins.  And the little guy that can only afford a few PoS coins has a snowball chance in hell of affording to mine a bitcoin.
PoS network have a greater degree of the Chaos effect protecting them , as you never know how many coins will be staking at a given time.



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Quote from: Bitcoin Forum
A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.

Quote
@WindFury,

Guy your ability to block out what is right in front of you is sickening.

PoS Holders can not dominate like a PoW Miners can, it is just not coded that way.

How many Nodes do you run?

It cost money to run Nodes, it is not free.  Plus those coins in the Nodes are not free,
You purchased them or you mined them with PoW, but you have to run a node to compete to make more,
and you have to sell some if you want to exchange it for other items.


You admit bitcoin miners currently have perpetual power over you and have had it for over 2 years with no quick end in site.

And you whine that PoS holders may possibility have that same power, when I have explained to you multiple times that they don't.

That's it? The cost to be the perpetual power on the network is to run a node, or nodes if they want to Sybil attack the network.

POW costs are very high. They are so high that it will force some "powers" in the network to fail. Watch Bitmain, its "monopoly" will not hold forever, not like the originators of a POS coin.


Wow! you are just really so stupid , you can't comprehend what perpetual power really is.


Ok , I am done talking to you, there is no hope for you.


Enjoy your bitcoins and your servitude to Bitmain , which will never end.
Keep thinking Bitcoin will cost $1 million dollars per coin and that it is not environmentally damaging to the world.

You think your religious fanaticism to bitcoin will make you rich, now that is funny.

Good Day Moron.  Smiley  


Quote from: Bitcoin Forum
A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.

Quote
@WindFury,

Guy your ability to block out what is right in front of you is sickening.

PoS Holders can not dominate like a PoW Miners can, it is just not coded that way.

How many Nodes do you run?

It cost money to run Nodes, it is not free.  Plus those coins in the Nodes are not free,
You purchased them or you mined them with PoW, but you have to run a node to compete to make more,
and you have to sell some if you want to exchange it for other items.


You admit bitcoin miners currently have perpetual power over you and have had it for over 2 years with no quick end in site.

And you whine that PoS holders may possibility have that same power, when I have explained to you multiple times that they don't.


Just how big a moron are you?

FYI:
Bitmain will be your master as long as you own bitcoin.
https://dailyhodl.com/2018/08/11/crypto-mining-king-bitmain-is-raking-in-huge-profits-every-quarter/
Quote
Bitmain currently dominates the mining sector.
Bitmain is raking in huge profits every quarter.
Bitmain also controls numerous mining pools.
Conservative estimates by the accounting firm Bernstein have put Bitmain’s market share at 70%-80%.
Bitmain currently owns or operates a number of the world’s largest mining pools. These include Antpool and BTC.com. The reclusive company also operates several cloud mining divisions in addition to these hardware-based mining pools. Hashnest, Suanlibao, and BW.com are three of the biggest cloud mining operations in existence today. All of them are controlled by Bitmain.
Antminer rigs are now the industry standard.
Bitmain has pioneered the shared data center business structure
Bitmain is able to increase their profits even further by positioning their data centers in these regions.
Bitmain operates subsidiary mining farms in Israel, Switzerland, Canada, and Singapore.
Bitmain now controls the destiny of BTC in terms of development
Experts put Bitmain’s network control at around 51%.


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A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted.

Quote
@The Bitcoin Mods,

Your Continued Censorship of my posts has exceeded my ability to ignore.

You delete my posts with accurate information,
You leave a Moron's post like wind fury untouched.

So to hell with you and to hell with your free speech censoring bullshit.

.
 Kiss


* @Lauda, I was going to leave btctalk for good, Until I saw your endearing message in my trust score, because of your concerns , I am going to stay.  Smiley  Cheesy
* Alert your minions the game is now afoot.*


I was Red Tagged because Lauda Blows Theymos to get back on DT
The rest are just lauda's personal butt monkeys=> Hhampuz , Vod, TMAN , achow101
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November 02, 2018, 09:03:01 AM
 #66

@WindFury,

Guy your ability to block out what is right in front of you is sickening.

PoS Holders can not dominate like a PoW Miners can, it is just not coded that way.

How many Nodes do you run?

It cost money to run Nodes, it is not free.  Plus those coins in the Nodes are not free,
You purchased them or you mined them with PoW, but you have to run a node to compete to make more,
and you have to sell some if you want to exchange it for other items.


You admit bitcoin miners currently have perpetual power over you and have had it for over 2 years with no quick end in site.

And you whine that PoS holders may possibility have that same power, when I have explained to you multiple times that they don't.

That's it? The cost to be the perpetual power on the network is to run a node, or nodes if they want to Sybil attack the network.

POW costs are very high. They are so high that it will force some "powers" in the network to fail. Watch Bitmain, its "monopoly" will not hold forever, not like the originators of a POS coin.

Quote
Just how big a moron are you?


Not as big of a moron as the person who believes Zeitcoin is the one true Bitcoin killer. Hahaha. Cool

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Wind_FURY
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November 03, 2018, 07:47:30 AM
 #67

Is this necessary? Won't this only add an unnecessary overhead in costs for staking in a POS system? I believe this will not only make the whales become the perpetual powers in the network, this will also absolutely centralize the validators in the system because the hardware development and creation are not the same as POW hardware's race for total efficiency.

https://www.coindesk.com/ethereum-foundation-filecoin-back-plan-to-make-proof-of-stake-hardware/

Quote
Announced Thursday at Devcon, the annual gathering of developers in Prague, Ethereum Foundation researcher Justin Drake unveiled preliminary designs for application-specific integrated circuits, or ASICs, that will support an upcoming ethereum technology called the "beacon chain."

In essence, the beacon chain is a random number generator, and it's expected to form part of the next major iteration of the ethereum network – ethereum 2.0 – under an alternative, proof-of-stake consensus protocol (compared to the proof-of-work approach utilized today).

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mikeywith
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November 05, 2018, 11:05:29 PM
 #68




    I am not new in this forum , but still suffers to get merits. If you think i am capable enough , please tip me a merit. It will boost my speed.



    No wonder you are not getting any sort of merits.  not only because you believe that POS is a winner, but due to the way you try to present your idea.

    see I have never learned English writing in school , it's very rare to find english speakers where i live, I learned what i learned mostly online and from watching movies and shit like that ! . and one thing I have learned "For Free" is that whenever you try to compare something to something else ,you have to address both PROs and CONs of EACH. you can't say

    CONs of pow are ********************************

    so POS is a the winner ! . really?


    now back to the topic, the way i see it, the best chance that any POS project has is being  Hybrid PoW+PoS , that might actually work. ! . aside from that POS alone is bullshit at its best.

    and as for the environment Banks around the globe consume much more power than every ASIC/GPU/FPGA combined. and if you want to play that environment card, then there are many other more important issues you should try to solve before you talk about POW. start with Make-up  waste disposal    Grin[/list]

    d5000
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    November 06, 2018, 08:33:41 PM
    Last edit: November 07, 2018, 01:19:30 AM by d5000
     #69

    Is this necessary? Won't this only add an unnecessary overhead in costs for staking in a POS system? I believe this will not only make the whales become the perpetual powers in the network, this will also absolutely centralize the validators in the system because the hardware development and creation are not the same as POW hardware's race for total efficiency.

    https://www.coindesk.com/ethereum-foundation-filecoin-back-plan-to-make-proof-of-stake-hardware/
    Interesting. Unfortunately, the article isn't very clear with respect to the reasons for the development, and why a specific hardware would be needed. It sounds a bit like "trusted hardware", but it seems to be something different.

    Currently reading this article:
    https://blog.trailofbits.com/2018/10/12/introduction-to-verifiable-delay-functions-vdfs/

    However, there is also something that sounds positive:
    Quote from: Coindesk
    Looking at the work ahead, Drake struck a positive tone – particularly the prospect of designing and implementing the plan in an open-source fashion
    It seems to be an open hardware project, so a centralization caused by a single manufacturer seems not possible, and also the hardware should not be expensive, so there would not be much risk of "minting centralization".

    Edit: I read the article now. It seems Ethereum wants to achieve a system where a dishonest majority (a "minter cartel") cannot game the random number generator. For me, it seems that this goal is difficult to achieve from the start, as even Bitcoin is attackable if the majority of the hashrate is dishonest. From my understanding the problem VDF wants to solve is similar to the "selfish mining" problem in Bitcoin. It may be simply "overcomplicating" things.

    Zin-Zang
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    Killing Lightning Network with a 51% Ignore attack


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    November 07, 2018, 03:49:18 PM
    Last edit: November 07, 2018, 04:10:54 PM by Zin-Zang
     #70

    Is this necessary? Won't this only add an unnecessary overhead in costs for staking in a POS system? I believe this will not only make the whales become the perpetual powers in the network, this will also absolutely centralize the validators in the system because the hardware development and creation are not the same as POW hardware's race for total efficiency.

    https://www.coindesk.com/ethereum-foundation-filecoin-back-plan-to-make-proof-of-stake-hardware/

    Quote
    Announced Thursday at Devcon, the annual gathering of developers in Prague, Ethereum Foundation researcher Justin Drake unveiled preliminary designs for application-specific integrated circuits, or ASICs, that will support an upcoming ethereum technology called the "beacon chain."

    In essence, the beacon chain is a random number generator, and it's expected to form part of the next major iteration of the ethereum network – ethereum 2.0 – under an alternative, proof-of-stake consensus protocol (compared to the proof-of-work approach utilized today).

    What are you complaining about , you want waste and inefficient design like bitcoin's proof of waste.
    Eth founder is just doing his best to appease morons like you wind fury giving you what you want a crappy design with useless hardware to buy.


    For the record ethereum so call PoS design is not PoS , it is some bastardization of Proof of Stake.
    Eth PoS is not a true PoS implentations and only the unaware can't recognize that.

    Technically we should call Eth PoS,  Eth's PoBS , as they are just ruining PoS to make it appeal to the PoW religious fanatics.


    I was Red Tagged because Lauda Blows Theymos to get back on DT
    The rest are just lauda's personal butt monkeys=> Hhampuz , Vod, TMAN , achow101
    bitmover
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    November 07, 2018, 04:48:08 PM
     #71


    For the record ethereum so call PoS design is not PoS , it is some bastardization of Proof of Stake.
    Eth PoS is not a true PoS implentations and only the unaware can't recognize that.

    Technically we should call Eth PoS,  Eth's PoBS , as they are just ruining PoS to make it appeal to the PoW religious fanatics.



    What are you talking about?
    Ethereum casper is a transition from PoW to PoS. Every 50 mined blocks, there will be one minted PoS block.

    This is not a bastardization, but a transition, as no one has ever tried POS with a real and big project before. This is something totally new.

    Ethereum serenity will be full PoS. https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ

    I believe you are just trolling around to make a +1 post for your chill coin...

    konfuzius5278
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    November 07, 2018, 11:18:37 PM
     #72

    I can only laugh at people that say we can mine Bitcoin with green POW.

    They dont understand that the power can be used much better for other things.


    Proof of Stake a security leck? These people should name ONE coin (not exchange) hit by an attack. I dont know one.

    But I can name half a douzen relativly big coins attacked by an 51% hash attack.

    And even Bitcoin attack is simple for a goverment. Or just for Bitmain. Think about they nearly control 51% of the pools. At the moment they dont do because it has no interest. But when BTC value is 50k $ then with a simple attack they can earn more money then they ever get with mining and seeling these "guess game" maschines.


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    bitmover
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    November 07, 2018, 11:24:02 PM
     #73

    Proof of Stake a security leck? These people should name ONE coin (not exchange) hit by an attack. I dont know one.

    There was never a coin with a large market capitalization using POS, that's why.

    Quote
    But I can name half a douzen relativly big coins attacked by an 51% hash attack.

    And even Bitcoin attack is simple for a goverment. Or just for Bitmain. Think about they nearly control 51% of the pools. At the moment they dont do because it has no interest. But when BTC value is 50k $ then with a simple attack they can earn more money then they ever get with mining and seeling these "guess game" maschines.



    Government cannot do a 51% attack on bitcoin, because it costs energy and hardware. It would cost a blackout.

    Let's suppose u.s.a government woild like to a 51% on bitcoin. Just go to the nearest Walmart, buy 6 million s9, plug all of them on the same room and done right?

    It needs a long time to buy hardware, put them in different locations...it's doable but much harder than a POS attack. Just buy some coins and boom.

    Zin-Zang
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    Killing Lightning Network with a 51% Ignore attack


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    November 08, 2018, 04:52:50 AM
    Last edit: November 08, 2018, 05:41:51 AM by Zin-Zang
     #74


    For the record ethereum so call PoS design is not PoS , it is some bastardization of Proof of Stake.
    Eth PoS is not a true PoS implentations and only the unaware can't recognize that.

    Technically we should call Eth PoS,  Eth's PoBS , as they are just ruining PoS to make it appeal to the PoW religious fanatics.



    What are you talking about?
    Ethereum casper is a transition from PoW to PoS. Every 50 mined blocks, there will be one minted PoS block.
    HYBRID GARBAGE
    This is not a bastardization, but a transition, as no one has ever tried POS with a real and big project before. This is something totally new.
    Blackcoin was as high as $72 million dollars at one time, it is a true PoS coin and it has survived all of the fairy-tale security attacks.

    Ethereum serenity will be full PoS. https://github.com/ethereum/wiki/wiki/Proof-of-Stake-FAQ
    Don't believe all of the hype they feed you ,
    it should say "Ethereum serenity will be Ethereum Special Customized Bastardization Version of PoS.


    I believe you are just trolling around to make a +1 post for your chill coin...
    And you be Wrong again!



    I believe you been living in PoW land for too long,
    Proof of Stake Coins such as Blackcoin , MintCoin , and several others all run a PoS only coins derived from the Peercoin original design.
    Sunny King invented Proof of Stake,  trying to act like Eth is Proof of Stake is nonsense.

    The casper protocol, the fact Eth devs actually pretend that N@S is a issue, when it is a fairly tale for the PoS illiterate to believe.
    Now the Random hardware nonsense, Eth proof of stake will depend directly on their smart contract system ,
    No Real Proof of Stake coins have the security risks that eth bastardization using smart contacts based PoS will have.

    Eth is making a PoS Frankenstein creature that is not really proof of stake.
    Sorry to burst your bubble.
    Ethereum is not the True PoS coin you are looking for.
    It is merely a hype driven over complicated smart contract hybrid and odds are when the security breaches to it happen.
    Morons will all scream see PoS is unsafe, when the fact is PoS is Safe , but this bullshit Eth is doing is not.  Wink


    I been studying True PoS coins for years, and their are many to choose from, Ethereum is not now and won't be later a True PoS coin.


    Proof of Stake a security leck? These people should name ONE coin (not exchange) hit by an attack. I dont know one.

    There was never a coin with a large market capitalization using POS, that's why.

    Quote
    But I can name half a douzen relativly big coins attacked by an 51% hash attack.

    And even Bitcoin attack is simple for a goverment. Or just for Bitmain. Think about they nearly control 51% of the pools. At the moment they dont do because it has no interest. But when BTC value is 50k $ then with a simple attack they can earn more money then they ever get with mining and seeling these "guess game" maschines.



    Government cannot do a 51% attack on bitcoin, because it costs energy and hardware. It would cost a blackout.

    Let's suppose u.s.a government woild like to a 51% on bitcoin. Just go to the nearest Walmart, buy 6 million s9, plug all of them on the same room and done right?

    It needs a long time to buy hardware, put them in different locations...it's doable but much harder than a POS attack. Just buy some coins and boom.

    Government won't buy hardware to pull off a 51% attack,
    they will capture Wu Family and Coerce him into performing one just as any Major Power like US, China , Russia or Europe could do.
    * How many of the new design Antminers do you thing Wu's Company has been running before they start selling to the public,
     they been out competing the other PoW miners that buy ASICS from them for months, and now they sell them to the public starting today,
    and you really don't think they have been profiting off of them at least all summer.  Tongue
    * Oh and for the posers that think Wu does not have 51% thru multiple sources, the government can always procure his and then shoot tomahawk missiles into the other warehouses making Wu 100% not just 51%, that is the danger when your operation requires so much energy you can't hide it. *
    PoS can be run off a laptop in a coffee shop and moved daily to secure it from direct military attacks like what can easily destroy bitcoin.


    You lugnuts , always claim it is so easy to buy some coins and boom, put your money where your mouth is.
    Pick any and I mean any PoS coin with a marketcap over $1 million dollars and show us how you break it.
    Because I call you out on that it is so easy line, so put up or shut up.  Cheesy
    Or did you just want to admit you're flaccid now.

    Gmaxwell made up most of the PoS fairly tales, he is supposed to be well off financially ,
    why don't you PoW lugnuts ask him to kill a PoS coin to prove he was not lying the entire time.
    Disclaimer : Gmax is one of the mods in this very forum, I know you're one of the posers censoring my posts.
    He could at least write a multi staking client to at least give his N@S Lie a smidgen of credibility.

    I was Red Tagged because Lauda Blows Theymos to get back on DT
    The rest are just lauda's personal butt monkeys=> Hhampuz , Vod, TMAN , achow101
    konfuzius5278
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    November 08, 2018, 09:42:23 PM
     #75

    Proof of Stake a security leck? These people should name ONE coin (not exchange) hit by an attack. I dont know one.

    There was never a coin with a large market capitalization using POS, that's why.

    Quote
    But I can name half a douzen relativly big coins attacked by an 51% hash attack.

    And even Bitcoin attack is simple for a goverment. Or just for Bitmain. Think about they nearly control 51% of the pools. At the moment they dont do because it has no interest. But when BTC value is 50k $ then with a simple attack they can earn more money then they ever get with mining and seeling these "guess game" maschines.



    Government cannot do a 51% attack on bitcoin, because it costs energy and hardware. It would cost a blackout.

    Let's suppose u.s.a government woild like to a 51% on bitcoin. Just go to the nearest Walmart, buy 6 million s9, plug all of them on the same room and done right?

    It needs a long time to buy hardware, put them in different locations...it's doable but much harder than a POS attack. Just buy some coins and boom.
    When its SOOO easy to do, hacker would do it just for fun.

    And you did not answer the Bitmain 51% problem :-)

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