DOGECOIN to switch to variant of Proof of Stake (PoS)

[thatguy3]

Developer support is present: http://www.reddit.com/r/dogecoindev/comments/289ki5/okay_lets_talk_proofofstake/cidfpj8

Dogecoin community support seems to be present for the switch to non-vanilla PoS.

Discussion on when this should occur is ongoing, but the latest time would be at the static block rewards near the end of 2014.

This would be a major transition for Dogecoin.

[1714695917]

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[1714695917]

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[1714695917]

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[manfred]

Developer support is present: http://www.reddit.com/r/dogecoindev/comments/289ki5/okay_lets_talk_proofofstake/cidfpj8

Dogecoin community support seems to be present for the switch to non-vanilla PoS.

Discussion on when this should occur is ongoing, but the latest time would be at the static block rewards near the end of 2014.

This would be a major transition for Dogecoin.

I have no PoS coins in my portfolio and never will have one, so a move like this leaves me no choice but to sell out at first opportunity if it eventuates. I might as well buy a stamp collection

[ignitiondefect]

Why don't you like coins with POS?

[manfred]

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

[ShibecoinSucks]

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

+1

POS coins are just a fad, the only reason most coins being released are POS is because of how popular Blackcoin was/is. Every damn  greedy developer is trying to capitalize on this. Same goes for the "anon coins" this is just bullstuff fluff for you hungry "investors" to buy up and hold like morons so the developers and whales can transition your money to their pockets. There hasn't been any true innovation in alt coins for awhile, and it certainly isn't POS systems or ANON features. Grow a brain people.

[ChuckOne]

Developer support is present: http://www.reddit.com/r/dogecoindev/comments/289ki5/okay_lets_talk_proofofstake/cidfpj8

Dogecoin community support seems to be present for the switch to non-vanilla PoS.

Discussion on when this should occur is ongoing, but the latest time would be at the static block rewards near the end of 2014.

This would be a major transition for Dogecoin.

I have no PoS coins in my portfolio and never will have one, so a move like this leaves me no choice but to sell out at first opportunity if it eventuates. I might as well buy a stamp collection

Lol? Why?

[ChuckOne]

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

It costs also nothing to create a PoW coin.

Btw. it is even less, because you do not need Genesis Transactions.

[thatguy3]

It won't be pure PoS.

It may be a PoS/PoW hybrid.

[nikola384]

Developer support is present: http://www.reddit.com/r/dogecoindev/comments/289ki5/okay_lets_talk_proofofstake/cidfpj8

Dogecoin community support seems to be present for the switch to non-vanilla PoS.

Discussion on when this should occur is ongoing, but the latest time would be at the static block rewards near the end of 2014.

This would be a major transition for Dogecoin.

I have no PoS coins in my portfolio and never will have one, so a move like this leaves me no choice but to sell out at first opportunity if it eventuates. I might as well buy a stamp collection

Lol? Why?

Indeed. Why? They are the future, imho.
Good for DOGE if they get it!

[lynn_402]

That's probably the best way to keep the network secure, considering that our inflation will be considerably less than Litecoin which has a quite higher market cap, and also considering the ongoing centralization of mining which leave much hashpower in the hands of few miners.

I'd support this.

[thatguy3]

That's probably the best way to keep the network secure, considering that our inflation will be considerably less than Litecoin which has a quite higher market cap, and also considering the ongoing centralization of mining which leave much hashpower in the hands of few miners.

I'd support this.

Something will have to be changed soon in the future.  I am glad they are making decisions.

Dogecoin STILL has the most unique addresses sending coins than any other altcoin. EVEN Litecoin.
http://bitinfocharts.com/comparison/sentbyaddress-ltc-doge.html

There are still tons of users and the potential is there.

[svojoe]

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

Uh... how is this different from any other crypto?

POS is coming to a coin near you, unless traders and manipulators just keep squeezing it forever.

POW is a tax on holders,  No matter how slow the coin-generation it dilutes your value every block every day.  Its also centralized due to mining consolidating smaller and smaller. 

POS is true asic resistance (can't mine it ha!)  Its also true decentralization.   Its also non-inflationary if its zero/low interest (blackcoin is only 1%)

POW is outdated,  its first generation crypto tech with first generation wasteful-ness and security risks.  (51% is a real and daily threat.  Lets see you 51% blackcoin)    It just takes a long time for the the world to catch up.  Btc is still new to 99.8% of humanity.  So it will continue to get first mover recognition.. for a while.

[bitjedi]

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

Uh... how is this different from any other crypto?

POS is coming to a coin near you, unless traders and manipulators just keep squeezing it forever.

POW is a tax on holders,  No matter how slow the coin-generation it dilutes your value every block every day.  Its also centralized due to mining consolidating smaller and smaller. 

POS is true asic resistance (can't mine it ha!)  Its also true decentralization.   Its also non-inflationary if its zero/low interest (blackcoin is only 1%)

POW is outdated,  its first generation crypto tech with first generation wasteful-ness and security risks.  (51% is a real and daily threat.  Lets see you 51% blackcoin)    It just takes a long time for the the world to catch up.  Btc is still new to 99.8% of humanity.  So it will continue to get first mover recognition.. for a while.

POS does not equal fair distribution to the masses.  That's the big difference I guess.

[lynn_402]

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

Uh... how is this different from any other crypto?

POS is coming to a coin near you, unless traders and manipulators just keep squeezing it forever.

POW is a tax on holders,  No matter how slow the coin-generation it dilutes your value every block every day.  Its also centralized due to mining consolidating smaller and smaller. 

POS is true asic resistance (can't mine it ha!)  Its also true decentralization.   Its also non-inflationary if its zero/low interest (blackcoin is only 1%)

POW is outdated,  its first generation crypto tech with first generation wasteful-ness and security risks.  (51% is a real and daily threat.  Lets see you 51% blackcoin)    It just takes a long time for the the world to catch up.  Btc is still new to 99.8% of humanity.  So it will continue to get first mover recognition.. for a while.

POS does not equal fair distribution to the masses.  That's the big difference I guess.

An hybrid where the initial distribution is done through PoW for about a year and the security is later enforced by PoS seems quite fair to me.

[thatguy3]

An hybrid where the initial distribution is done through PoW for about a year and the security is later enforced by PoS seems quite fair to me.
[/quote]

That is essentially what we are seeing here.

[galbros]

Given how the developers treated dogecoin with the removal of the cap, nothing is too crazy to be inflicted on this coin and its poor bag holders.

I'm glad so many think this would be an improvement.  I sort of wish they would just be reliable enough to do what they say they are going to do.

[El Dude]

just merge mine with Litecoin stop being retards or get 51% when you're block rewards halve in 10 days and even more miners leave.

[thatguy3]

just merge mine with Litecoin stop being retards or get 51% when you're block rewards halve in 10 days and even more miners leave.

Merge mining with Litecoin puts a really high sell pressure on Dogecoin, effectively guaranteeing a low price forever.

Not to mention Coinotron does not breed a lot of confidence.

[mazuma]

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

+1

POS coins are just a fad, the only reason most coins being released are POS is because of how popular Blackcoin was/is. Every damn  greedy developer is trying to capitalize on this. Same goes for the "anon coins" this is just bullstuff fluff for you hungry "investors" to buy up and hold like morons so the developers and whales can transition your money to their pockets. There hasn't been any true innovation in alt coins for awhile, and it certainly isn't POS systems or ANON features. Grow a brain people.

You cant grow a brain you idiot

[CoinHoarder]

just merge mine with Litecoin stop being retards or get 51% when you're block rewards halve in 10 days and even more miners leave.

Merge mining with Litecoin puts a really high sell pressure on Dogecoin, effectively guaranteeing a low price forever.

Not to mention Coinotron does not breed a lot of confidence.

I agree that switching to PoS or a hybrid PoW/PoS would be better than being merge mined.

I am biased though because I think PoS > PoW all day long... that is until electrical efficiency and wasted processing power can be worked out with PoW.

Anyways... you guys should figure it out fast before the incentive to secure the Dogecoin block chain is gone.

[El Dude]

just merge mine with Litecoin stop being retards or get 51% when you're block rewards halve in 10 days and even more miners leave.

Merge mining with Litecoin puts a really high sell pressure on Dogecoin, effectively guaranteeing a low price forever.

Not to mention Coinotron does not breed a lot of confidence.

having no hard cap and billions of coins guarantees a low price forever.

[digitalindustry]

I support PoS for Doge it might give it the "leg up" it needs !

Plus it could be a good test for Litecoin and Bitcoin ! ! 1

[Burninj]

Dogecoin is already a POS coin, it's name is Shibecoin!

[Yuzu]

just merge mine with Litecoin stop being retards or get 51% when you're block rewards halve in 10 days and even more miners leave.

Merge mining with Litecoin puts a really high sell pressure on Dogecoin, effectively guaranteeing a low price forever.

Not to mention Coinotron does not breed a lot of confidence.

having no hard cap and billions of coins guarantees a low price forever.

+1

[digitalindustry]

Doge to GOX !

[EvilDave]

I support PoS for Doge it might give it the "leg up" it needs !

Plus it could be a good test for Litecoin and Bitcoin ! ! 1

Me confused....thought Di not Po$ fanboi. Is sarcasm?

Still: PoS DOGE, good move.

[digitalindustry]

I support PoS for Doge it might give it the "leg up" it needs !

Plus it could be a good test for Litecoin and Bitcoin ! ! 1

Me confused....thought Di not Po$ fanboi. Is sarcasm?

Still: PoS DOGE, good move.

wow dude seriously from the blog:

- Random Proof of Work (PoW)
- Proof of Stake (PoS)
- Proof of Scam (Po$)

notice all the different groups here?

Proof of Stake (PoS) and Proof of Scam (Po$) have nothing to do with each other.

http://kolinevans.wordpress.com/2014/07/02/on-po-proof-of-scam-defining-the-rational-crypto-currency-exclusive-socioeconomic-dynamic/ 

[thatguy3]

just merge mine with Litecoin stop being retards or get 51% when you're block rewards halve in 10 days and even more miners leave.

Merge mining with Litecoin puts a really high sell pressure on Dogecoin, effectively guaranteeing a low price forever.

Not to mention Coinotron does not breed a lot of confidence.

having no hard cap and billions of coins guarantees a low price forever.

Possibly, but the bet is that the lower price from inflation would never be as low as having Litcoiners selling Dogecoin for the rest of it's life.

Dogecoin will have a lower inflation rate than Litecoin for 5 more years.  Who knows what will happen by then?

https://i.imgur.com/SdnscyV.png

[lynn_402]

just merge mine with Litecoin stop being retards or get 51% when you're block rewards halve in 10 days and even more miners leave.

Merge mining with Litecoin puts a really high sell pressure on Dogecoin, effectively guaranteeing a low price forever.

Not to mention Coinotron does not breed a lot of confidence.

having no hard cap and billions of coins guarantees a low price forever.

The lack of hard cap would be irrelevant, if the coin was to switch to PoS, since the inflation would be equal to the interest everyone would get in their wallet.

[giveBTCpls]

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

So like Bitcoin

[Benjig]

Maybe doge indeed needs a change, its price is dropping like a rock, but is not the only one, other alts are in the same situation.

[lynn_402]

Why don't you like coins with POS?

What are PoS coins back by? Nothing. Its an illusion that they are worth something. Endless new once will pop up forever because they cost nothing to create.

So like Bitcoin

Indeed. If there was a massive crash, difficulty would adjust so creating a Bitcoin would cost way less.

PoW coins are not backed by the equipment that mine them.

[Arbitrageur]

oh man this is bad! GTFO.

[lynn_402]

oh man this is bad! GTFO.

Why would it be so bad if Dogecoin was to switch to PoS?
This would solve the current concerns about security.

[Equate]

oh man this is bad! GTFO.

There are not that many options left for Dogecoin , so its just coin survival atm.

[lynn_402]

oh man this is bad! GTFO.

There are not that many options left for Dogecoin , so its just coin survival atm.

There is one possibility where Dogecoin could survive with PoW; if Litecoin continues to crash, the Scrypt hashrate could actually maintain a good balance between both coins, even when Dogecoin will be at the block reward of 10000 dogecoins. However, even in that case, Dogecoin's value would have to go up to stay secure.

PoS seems considerably less risky.

[manfred]

If Doge would change to PoS it would be a real unique coin. It probably would be the only coin with unlimited number of coins to be created in an environment of unlimited number of PoS coins.
https://bitcointalk.org/index.php?topic=674029.0;topicseen  

[altcoiner15]

just merge mine with Litecoin stop being retards or get 51% when you're block rewards halve in 10 days and even more miners leave.

Merge mining with Litecoin puts a really high sell pressure on Dogecoin, effectively guaranteeing a low price forever.

Not to mention Coinotron does not breed a lot of confidence.

I agree that switching to PoS or a hybrid PoW/PoS would be better than being merge mined.

I am biased though because I think PoS > PoW all day long... that is until electrical efficiency and wasted processing power can be worked out with PoW.

Anyways... you guys should figure it out fast before the incentive to secure the Dogecoin block chain is gone.

If you're still holding onto doge then you're quite a fool.  It is textbook fad and people got tired of that meme.  POS or POW is a false dichotomy.  Dying coin or up and coming coin is the real question.

[ChuckOne]

Dogecoin is already a POS coin, it's name is Shibecoin!

Good to know.

[devphp]

having no hard cap and billions of coins guarantees a low price forever.

As if a hard cap is helping Litecoin that much

Litecoin has a massive inflation now in double digits and will continue to for the next few years, Dogecoin's massive inflation is reduced each ~2 months with halvenings and by the end of 2014 will become manageable (less than Bitcoin's and Litecoin's for the next 5 years) to guarantee greater valuations of Dogecoin if the developers and community don't stop like Litecoin's devs.

A switch to PoS or some PoW+PoS combo is great, because it takes away worries of the 51% attack. After that Dogecoin has a chance to become a currency of choice for micro and small transactions.

[digitalindustry]

IT WILL SAVE DOGE !!!!1