It is literally formalisation of the pyramid scheme that is crypto. Have a bunch of money? Well, have more for free. How can anyone be arguing for this in good faith?
Proof of stake is the most retarded thing ever:
Lucas Wright
David Hall
>How can anyone be arguing for this in good faith?
They aren't, they just want something to market their pump and dump as Bitcoin 6.0.
Blake Morgan
Algorand $0.00001 EOY
Isaac Richardson
you need some kind of system to secure the network, have any better ideas? and pos is definitely more eco friendly which normies will love. normies also love the passive income meme so it's perfect, there will be so many normie retards buying our bags in a few years
Jayden Gray
Hallo? Hallo, Herr Santos?
Ich fick dich in den Arsch du Schwein. Ich fick dich in den Arsch du kleiner fieser Kanacke. Du krummbeiniges mieses Kanacken-Schwein. Ja, da kiekste, dit hörste gerne, wa? Ne Neger-Nülle werd ich dir in den Arsch ficken. Nen richtigen schönen Neger werd ick dir holen, mit nem zwei Meter langen Schwanz. Der wird der so in den Arsch ficken, dass du drei Tage Dünnschiss hast. Hörst ja immer noch zu! Ja, du geile Sau. Dit hörst du gerne. Da läuft dir der Geifer ausm Maul, wa? Du glatzköpfiger, miesijer, kleener dreckiger Türken-Kanacke. Ick lass dir vom Neger so in den Arsch ficken, dat glaubst du jarnicht. Ja da biste sprachlos, wa? Und die Nülle schneid ick dir ab, ick schneid dirn Jewinde uff deine Nülle lass ick dir schneiden, dann kannste nen Korkenzieher-Arschfick machen. Du dreckiger mieser Kanacke. Ja oh ja dat hörste gerne, wa? Ja dit gloob ick dir. Du mieset Stück Scheiße, du. Du mieses, dreckiges kleenes Stück Scheiße. Ick fick da so in' Arsch. Ick hol dir die Neger, die werden dir so in den Arsch ficken. Ik schneid dir ´n Gewinde uff die Nülle, ick schneid dir die Eier ab und mach Eiersalat draus. Ja... Aber dit kann man ja nicht fressen. Wat bei dir inne Eier is, kann man ja nich fressen, du alte Dreckssau. Du mieset, dreckjiget Schwein. Sach ma willste ooch ne volljeschissene Unterhose haben? Ja, willste ene haben?
Ian Williams
they know its ponzi but they will keep trying to pump their coins with it until governments say no
Cooper Edwards
Best passive income meme is the earlier you get in the better. LID staking just dropped today and it’s bout to pull a PAMP
Daniel Carter
anyone person with an iq higher than 110 will automatically default to ponzi first when dreaming up a money making scheme its the way the human brain works and there's a reason it's illegal
Joshua James
>we trust you because you have money
isnt it kinda how banks work?
Michael Cox
Staking is pajeet tier idealism. Any project mentioning staking or masternodes is immediately written off as a pajeet scam, eth included.
Evan Price
Haha wow, definitely did not expect to see this here xD
Jack Morris
POW is just POS in disguise with a huge environmental impact.
The richer can buy either mass hash power or a big stack, so why bother with POW anyway.
Christian Morales
PoS = rent seekers that want to gain ongoing fees in perpetuity without ever expending any additional effort.
which tribe could that be?
John Jenkins
based
Cameron Phillips
pow requires constant reinvestment. this is why you don't like it shlomo....you want your rent in perpetuity. kys
Connor Fisher
Poor mentality. NGMI
Julian Anderson
already made it lazy hook nose.
kys
Blake Fisher
>people should be able to use my coins for free
How’s the weather in Jerusalem?
Joshua Robinson
>you want your rent in perpetuity.
anyone got a jew version?
Isaac Diaz
>Already made it but writting his shitty opinion on Zig Forums
NGMI
Justin Smith
Lol you just described every financial system. The rich always have more opportunities to use their wealth to accumulate more while the poor struggle to stay afloat.
But as a decentralized system you need a mechanism to incentivize users to delegate resources to secure the network. We currently do this with mining rewards. This however has a high barrier to entry and negative environmental impact. PoS makes sense and I wonder if they'll implement a sliding scale to help prevent whales from dominating all of the rewards.
If you think ETH is a ponzi and not one of the most amazing inventions of our time you're just retarded.
Andrew Torres
fair enough
Proof of work seems fine to me. I am not a professional miner, I make cents a day but leave it on in the background when I'm not doing anything, but it seems like a pretty decent system. All it is is a huge grab for money, and journalists are doing the shilling work for a hard fork as far as I can see. Are they getting paid for this? Because they're shilling it as some great wonderful dream when loads of those guys have only tiny amounts.
It's obviously a pyramid scheme (to a degree) and I'm fine with that, but PoS just seems to make it utterly egregious.
Obviously, the biggest mistake nearly all of us did was not buying BTC when it was at 10p. Even so.
No? That's not how banks work at all? And I thought crypto was supposed to be different to currencies regulated and overseen by financial authorities?
To be honest, I don't even know what a masternode is.
Yes, but it's different, as the other person that responded to you said.
Holobunga
Xavier Campbell
YOURE NOT ALLOWED TO SHITPOST WHILE BEING EXTRA COMFY STAYING UP ALL NIGHT NOT GIVING A FUCK BECAUSE YOU MADE IT!!
BUY MY PREMINED COIN IM STAKING AND GETTING IT LISTED ON CURVE.FI!!! PLZ!!!
Benjamin Butler
Security and functionality matters, what “normies” think doesn’t fucking matter. You have a pump and dump greater fool mindset, some cryptos actually have fundamental value.
Kayden Hernandez
"sliding scale"
You realise the entire point is to exponentially increase power as they have more money, right? Proof of Work is, admittedly, one that is dependent on money too - it's dependent on how much you'll spend on your mining hardware. But even small-time individuals can still make a *bearable* amount of money. ETH and every other Cryptocurrency *is* a ponzi scheme, you must be pretty retarded and unfamiliar with the technology and the general setup of crypto if you think otherwise.
We're all gambling on whether we'll benefit from them.
Michael Allen
>Have a bunch of money? Well, have more for free.
That's how capitalism works. You want to ban interest?
Noah Phillips
Kill yourself kike shill
Daniel King
Proof of Work is fine.
Jason Cruz
You don't know what a ponzi scheme is. Ponzi schemes don't go through multiple market cycles. PoW requires customized chips and cheap power / a lot of space and equipment to remain competitive. That's a huge investment and also a learning curve.
Aaron Smith
BTC - proof of works secures some ststems with vast majority of rewards going to the miklionaire and billionaire class with patented asics and millions of dollars in equipment while consuming more electricity than decent sized countries and it's only possible yo compete in countries with subsidized power. prooff of stake delivers all the security guarantees of bitcoins POW with more decentralization, the power consumption of a few houses.
Brandon Carter
cardano's proof of stake system is the only one in crypto that PROVABLY has the same security properties of bitcoin. soon cardano will be resistant to spikes of dishonest majority, making it even more secure than BTC. It's also a fuckton more decentralized. contrast picrelated to BTC where 4 pools control more than 50% of the hashpower and 10 pools control more than 95% if the hash.