whats your opinion on POS (Proof of Stake)

[MattibroYT]

my dad is very deep in POS, and I want to know your opinion about it.

[MattibroYT]

just to clarify im not an english speaker so my english might not be very good 

 

[Hairless Monkey Boy]

lipstick on a pig.

[rkv_2401]

12 hours ago, Caroline said:

A real POS scheme that will only benefit the corporate whales and big players in general, leaving nothing for the rest. Small miners like me will be kicked out from the game forever, with this move they just turned ETH into Tradfi System 2^TM which is stupid.

 

I used to hype for the pump last year but now I just wish the bubble bursts and crypto sinks to $0 forever. This was clearly and agreement between the exchanges, big stakers, government agencies and corporations to turn crypto into a centralised system they can fully control and pump and dump whenever they want to benefit from it.

Exactly, proof of stake literally rewards centralization AND only serves to help the wealthy (in cryptocurrency assets) get even wealthier. Not to mention that these currencies undergo hyper-deflation and that's why they're worth what they're worth : Because people want to speculate and make more money, so they buy it, not any real world application.

 

I wonder; is there any real world application, either already out there or in the pipeline, that makes the crypto ecosystem worth the $1 trillion dollars it's supposedly worth now?

[Mihle]

On 7/16/2022 at 8:20 PM, Caroline said:

A real POS scheme that will only benefit the corporate whales and big players in general, leaving nothing for the rest. Small miners like me will be kicked out from the game forever, with this move they just turned ETH into Tradfi System 2^TM which is stupid.

 

I used to hype for the pump last year but now I just wish the bubble bursts and crypto sinks to $0 forever. This was clearly and agreement between the exchanges, big stakers, government agencies and corporations to turn crypto into a centralised system they can fully control and pump and dump whenever they want to benefit from it.

It's not much different than POW that uses ASICs, it ends up being few large players.

 

You can have systems that for every coin you have an additional one is weighed less in POS over a certain amount, but then I don't think it's possible to stop people to just have multiple wallets/pools.

 

I dislike energy use of any POW crypto so if POS means crypto dies I don't care, let it come.

[marcuzx]

its a pile of shyte bro

[Isuck Assimov]

Its really not different except less electricity for proofing. Even with PoW your profit is decided by your ability to purchase mining rigs. Both are just pyramid schemes for the rich to get richer off the back of those less privileged.