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General Discussion / Re: Charles Hoskinson Left Ethereum?
« on: August 08, 2014, 07:18:07 am »Quote
Here's my primary problem. PoS is fundamentally controlled by people who own the tokens of the system. If one has developed a non-monetary system such as distributive computation, storage, or hosting services for example, then the vast majority of users likely will not hold a substantial stake in the system's tokens rather a small oligarchy of speculators, early adopters and perhaps infrastructure providers would. Thus you have a system where the people who use the network must accept the demands of a small group as we currently do with the centralized web.
Sorry but in bitcoin also the early adopters, the geeks have mined enormous amounts in the early days. In a sense isn't it the exact same thing? The small oligarchy of speculators who understood bitcoin hold a substantial stake...
All POW coins are controlled now in reality by mining pools and very few people.
POS coins also may be available cheaply in reality. Who knows if in 5 yeras 1NXT = 1BTSX=$1,000. Everyone has the choice to speculate on that price and 5 years from now people may say the same things that they say about early adopters as in bitcoin...
All in all I believe that none is fair. One is energy efficient the other not. That is the only difference in my head..