So it looks like IBM is going to use Ethereum

[UnicornFarts]

http://two-bit-idiot.tumblr.com/

http://www.reddit.com/r/ethereum/comments/2rucph/vitalik_buterin_on_ibmsamsungs_adept_from_eth/

Washing machines that order their own soap ... first true practical use of cryptocurrency besides drugs! 

[ArticMine]

http://two-bit-idiot.tumblr.com/

http://www.reddit.com/r/ethereum/comments/2rucph/vitalik_buterin_on_ibmsamsungs_adept_from_eth/

Washing machines that order their own soap ... first true practical use of cryptocurrency besides drugs!  

Or fridges that order food only from sources that use approved GMO technology from Monsanto, thereby extending the Apple DRM model to food. No thanks. If they are stupid enough to use proof of stake, then a not at stake attack using derivatives may be the solution to save the world from this Orwellian monstrosity.

Edit: By the way this is not as crazy at it seems. http://www.theverge.com/2014/6/30/5857030/keurig-digital-rights-management-coffee-pod-pirates.

[UnicornFarts]

Good luck with that

http://www.theverge.com/2014/8/28/6079711/keurig-coffee-pod-drm-has-been-defeated

 

[ArticMine]

Every form of DRM has been defeated because at a very fundamental level DRM is based upon flawed mathematics. The fact that corporations have spent billions of USD to build elaborate structures on top of fundamentally flawed mathematics or lobbied governments to pass legislation to give legal protections to these structures does not change the underlying reality.  Proof of stake suffers from a similar fundamental flaw and without a central from of authority is ultimately doomed. Building elaborate and expensive structures on top of these flaws will not solve the problem.

By the way one needs to go no further than the failure of the banking system in 2008 to understand the failure of proof of stake since banks are at a very fundamental level proof of stake organizations. 1 share = 1 vote. It took the intervention of centralized authorities central banks and governments to clean up the mess.

[Daedelus]

Proof of stake suffers from a similar fundamental flaw...

If your flaw isn't in this list...

https://bitcointalk.org/index.php?topic=897488.msg10152632#msg10152632

... could you add it to the bottom of the thread?


No POS attack described so far has shown to be plausible.

[ArticMine]

Stake does not equal exposure:

Consider for example a pirateat40 style "trust" on a POS coin. The "trust" has a very significant stake combined with a very significant short exposure, and consequently a vested interest in the collapse of the currency, and can vote the stake accordingly. https://en.bitcoin.it/wiki/Pirateat40. POS rewards the creators of ponzi schemes.
 
A variant of this is an exchange gone bad. Again the exchange operator controls a massive stake via customer deposits but no exposure, and if fraud occurs creating a fractional reserve. The exchange has a vested interest in the collapse of the currency in order to cover losses and can vote the stake accordingly.

Buying the currency while at the same time selling a greater amount on a derivatives market, creating a large stake with a short exposure and vested interest in the collapse of the currency. Again the stake can be voted accordingly.

Need I go on ...

[Daedelus]

Yes... in the other thread 

[ArticMine]

Yes... in the other thread 

Done.

[tokeweed]

Stake does not equal exposure:

Consider for example a pirateat40 style "trust" on a POS coin. The "trust" has a very significant stake combined with a very significant short exposure, and consequently a vested interest in the collapse of the currency, and can vote the stake accordingly. https://en.bitcoin.it/wiki/Pirateat40. POS rewards the creators of ponzi schemes.
 
A variant of this is an exchange gone bad. Again the exchange operator controls a massive stake via customer deposits but no exposure, and if fraud occurs creating a fractional reserve. The exchange has a vested interest in the collapse of the currency in order to cover losses and can vote the stake accordingly.

Buying the currency while at the same time selling a greater amount on a derivatives market, creating a large stake with a short exposure and vested interest in the collapse of the currency. Again the stake can be voted accordingly.

Need I go on ...

we'll see how POS evolves and what develops.  despite the bolded text above, i think it's still worth exploring. overall, crypto is one big experiment at this point.