Redpill me on Proof of Stake. I watched a couple videos on youtube

PoW/PoS hybrid master race checking in. Look up Decred. Miners mine the blocks, stakers verify them making a 51% attack impossible. Everyone gets paid for their work.

>>3386797
shit. sounds cool. why doesn't every coin do this then?

>>3386739
>PoS
Really says it all.

Anymore pics? that one was actually perfectly dumbed down for me

>>3386739
PROOF OF WORK CUNT.

>S A T O S H I ' S V I S I ON

I like PoS but I don't know if I like any of the PoS coins.

>>3386801
It's technically not easy if I understand right. Most coins that do use PoS cheat and rely on a centralized "watcher" they have to trust, or use dPoS (delegated proof of stake) where you have to trust a delegate with your funds.

>>3386739
everything is a zero sum game. even bitcoin. after the last bitcoin is mined the miners will be mining for fees. basically a steady stream of fees will be forever sucked from the economy and into the pockets of the miners. eventually the miners will end up with all of the bitcoin in circulation unless they spend enough back into the economy to keep it circulating which is kinda unlikely. just look at rich people. sure they spend more money than poor people but they also hoard more too. they hoard more than they spend. This is a trickle up effect.

>>3386842
Actually, in dPoS ala ARK, the delegate does not at any time have access to the voter's funds. You are free to remove your ARK anytime even while voting, no holds barred. At the risk of sounding like a deluded Arkie, the system is pretty elegant.

>>3386857
Miners will always have to pay for electricity and equipment. So if someone finds a killer way to mine bitcoin, eventually others will as well. Still BTC is relatively simple and isn't perfect.

Having proof of stake lowers cryptocurrency to worse than fiat. Not only does it admit that the currency is just a ponzi scheme, but instead of being backed by electricity, maths, and work, it's just based on trust that the whales will prefer stability over quick gains.

>>3386883
Nice. I'm a DCR fan boy but I've always been interested in ARK. Best wallet in crypto IMO. I meant to buy some during the big dip but missed it before this bull run started so now I'm too butthurt to buy any kek.

File: arks.jpg (163KB, 1000x483px) Image search: [Google]

163KB, 1000x483px

>>3386902
Repent, it's not too late.

>>3386941
Kek I got some other positions I'm waiting to sell then I'll probably start staking ARK. No offense but I think it'll probably pull back a bit after this run.

>>3386897
Sometimes but really depends on the system. For examale Decred is hard-capped at 21 million like btc, and the stakers provide a valuable role by preventing 51% attacks. Miners also get twice as much of the block reward as the stakers do so it's not a huge wealth concentration driver.

>>3386897
So is ETH headed for the grave after this?

>>3387579
For as long as it has the branding, first mover's advantage, and whale's holding, probably not. It'll stay up until something else dethrones ETH and whales chooses to move over.

If I have a huge stake in ETH, there's literally no reason for me to move if the price stays AND there's buyers. But if for whatever reason volume dries and there are no more buyers, then thats a different story.

I don't see ETH dying as they switch to PoS.