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    Author Topic: Is PoS dead?  (Read 17377 times)
    devphp
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    August 24, 2014, 01:49:59 PM
    Last edit: August 24, 2014, 03:49:00 PM by devphp
     #301

    But there is one problem with pure PoS coins:

    Rich get richer JUST by sitting on their stake.

    which (in my opinion) inevitably leads to centralisation of stake (just getting all fees until you get all the currency).
    It will take definitely much longer time than centralisation of mining power did, but it probably will happen some time.
    And wide adoption of such currency is only speeding the process (more transactions → more fees)
    Am I wrong?
    That is the only thing that i dont like about NXT and
    that is where NEM with their Proof of Importance algorithm can succeed.
    Indeed, the main problem is that the difference between the rich and the poor gets worse with POS. Sure it is energy efficient, but that does not make up for anything. POS does not have a future, and sadly I do not see even NEM succeeding. It's all speculation who knows what will happen in the upcoming weeks.

    Some of the assets on NXT AE have gone up 500%, which means if the poor bought in to them, they'd be 5 times more rich now. And if the rich didn't buy, they'd still have the same. Which means there are opportunities born every minute, you just need to search for them and make your bets. Wisely. It's the companies that (will) run on top of NXT that add the value, sitting on stakes and not investing means the person is not actively exploring opportunities and will surely miss on them, and then pay more to buy shares of those companies.
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