PROOF OF STAKE EMPOWERS THE RICH

[Anonymous No.28935680]

IOTA consensus empowers the people

What does he mean by that?

[Anonymous No.28935717]

>>28935680
It means Vitalik won't like it

[Anonymous No.28935765]

>>28935680
What consensus Algorithm does it use then?

[Anonymous No.28935911]

>>28935680
So it won't benefit all these huge corporations and there CEO's they're so called partnering with?...

[Anonymous No.28935943]

When will this shit move I’m sick of Bitcoin

[Anonymous No.28936077]

>>28935765
A completly new one.

Full explanation would be "Fast probabilistic consensus in a DAG + Mana-based node-reputation"

I think it needs a more catchy title. Maybe "Democratic consensus", "Swarm voting" or "Proof of honest participation" would hit close

[Anonymous No.28936082]

>>28935943
patience. first rise by march with the migration to the new network.

https://twitter.com/iota/status/1361736160385630221

[Anonymous No.28936132]

>>28935911
Not on the consensus level. Partners benefit by having the upsides of DLT without the fees

[Anonymous No.28936159]

>>28935680
Iotex has no link to iota?

[Anonymous No.28936197]

>>28935680
Proof of stake empowers those with skin in the game?

[Anonymous No.28936292]

>What does he mean by that?
when you can't build, tweet
technology is hard. tricking boomers is easy

[Anonymous No.28936295]

>>28936197
Yeah so zero sum bullshit. Get money by having money

[Anonymous No.28936363]

>>28936197
The rewards in PoS are based on fees (deal-breaker for many use-cases) and inflation. Sounds like shit to me

[Anonymous No.28936718]

>>28936292
See and learn. This year will be hard awakening for those without a bag

[Anonymous No.28936839]

>>28935765
The more iota, the more mana I have. So that's pretty much the same. Rich people still get the most voting power.

[Anonymous No.28936863]

>>28935680
and? Fuck poor people

[Anonymous No.28937036]

>>28936839
instead of PoS , for IOTA Consensus i call it Proof of flow PoF, it's not enough to stack IOTA , you have to use them to get Mana

[Anonymous No.28937082]

>>28935680
>empowers the machines
Yet another 4th industrial resolution shitcoin from our eurocucks

[Anonymous No.28937097]

>>28937036
What if I just send my iota in a circle to gain mana?

[Anonymous No.28937175]

>>28936839
Many differences between PoS and IOTA consensus (this thing really need a better name)

>In PoS your coins are locked, in IOTA free
>In PoS coins can get slashed, not in IOTA
>In PoS you get financial reward, in IOTA only voting power
>In PoS one leader gets determined for every block, IOTA is leaderless and has no blocks

[Anonymous No.28937227]

>>28937097
They produce less Mana the shorter they have been on an address. Sending old coins >> Sending new coins. You will reach limit soon

[Anonymous No.28937457]

>>28937097
Mana it's not for end user , it's for voting mecanisms of nodes.

[Anonymous No.28937527]

>>28935680
Centralized shitcoin

[Anonymous No.28937618]

>>28937527
Shoo! Back to the samosa fields with you pajeet.

[Anonymous No.28937769]

>>28935680
And a centrally controlled network empowers no one except the single controller of the network.

[Anonymous No.28937779]

>>28937618
IOTA in its current form does not provide any censorship resistance, since the path of the tree is centrally directed through a Coordinator node run by the IOTA Foundation. As such, IOTA is no more decentralized than an Apache Kafka cluster, or Ripple

tl;dr centralized shitcoin

[Anonymous No.28937812]

>>28937527
FUCK YOU _
|_| |_|
| | /^^^\ | |
_| |_ (| "o" |) _| |_
_| | | | _ (_---_) _ | | | |_
| | | | |' | _| |_ | `| | | | |
| | / \ | |
\ / / /(. .)\ \ \ /
\ / / / | . | \ \ \ /
\ \/ / ||Y|| \ \/ /
\__/ || || \__/
() ()
|| ||
ooO Ooo

[Anonymous No.28937844]

>>28935680
proof of work drives towards vertical integration and empowers the rich.

[Anonymous No.28937902]

>>28937175
>In PoS you get financial reward, in IOTA only voting power
So by "empowers" you mean it lets people vote on what happens to IOTA huh? I don't think that's the kind of empowerment people are looking for

[Anonymous No.28937904]

>>28937812
Not an argument.
Now kill yourself centralized shitcoin shill

[Anonymous No.28937964]

>>28935680
Commie

[Anonymous No.28938218]

>>28937904
Ok you are right , do what you want.I try just inform others which are interested. Coordinator it's not a problem, and will be removed asap.

[Anonymous No.28938440]

>>28938218
Kill yourself you retard.
You will never make it with your centralized shitcoin and you will spend your entire life in poverty. Enjoy.

[Anonymous No.28938576]

>>28937779
Decentralized test met is working perfectly. To be released this year.
If you want to make money you have to buy before these things happen you dope, buying IOTA when coordicide happens is when i'll be dumping half my bags on you late idiots.

[Anonymous No.28938682]

>>28938440
>YOU CAN'T TAKE MY STAKING FEES!! NOOOOOOOOOO YOU CAN'T SOLVE THE TRILEMMARINO!!!!!! NOOOOOOOOOOO I NEED MY PARASITIC STAKING FEES TO PAY FOR MY NEET LIFESTYLE!!! NOOOOOOOOOOOOOO!!!!

[Anonymous No.28938704]

>>28938576
>Decentralized test met is working perfectly
Which is centralized.
Why are you lying you nigger?

[Anonymous No.28938749]

>>28938682
Was already all solved by Avalanche 5+ months ago.
See when you are a laggard still investing into obvious scams like iota you will ngmi.
stay poor dumbo.

[Anonymous No.28938766]

>>28938682
salty germans, topkek

[Anonymous No.28939143]

>>28937779
>Mentions some software he heard of once
>Mentions literal banker coin
>Neglects to mention that milestones are purely a safety feature and double spend attacks have never been succesful in iota's history
>Ignores the testnet which has no coordinator

How many rupees were you paid for this rajesh?

[Anonymous No.28939234]

>>28939143
Its a dead centralized ghost chain.

[Anonymous No.28939268]

>>28938749
Avalanche copies some IOTA code to make quick bug. IOTA Foundation however has 120+ employees inventing a completly new consensus algorithm. They can code faster than AVAX can ctrl+C ctrl+V

[Anonymous No.28939374]

>>28938749
Here we go, Avax holder

[Anonymous No.28939379]

>>28936718
learning proper english as well as proper thinking will pay lifelong dividends
gambling on shitcoins results in misery
even if you happened to win in the short term, having made the wrong decision you would replicate your poor choices and lose on whatever you tried next

[Anonymous No.28939389]

>>28939234
POO IN THE LOO POO IN THE LOO
That's what you sound like.
I like that you come to an iota thread to get buttblasted over a coin you think is centralised. Don't you have any hobbies praveen? Finished touching up more women in the market and now you're at home on your 2004 dell while your mother is screaming at you from the kitchen about you never finding a wife, and you bringing shame onto your four testicled rhino god?

I pity you Rajeet.

[Anonymous No.28939456]

>>28939389
>even more salty germans
this thread is kino

[Anonymous No.28939521]

>>28939268
They have 120 useless faggots that live on your costs and dump on you.
>>28939374
I‘m AVAX ICO chad.
>>28939389
Stay butthurt you centralized shitcoin retard.
Its enough satisfaction for me to know that you will die poor.

[Anonymous No.28939586]

>>28939379
PPpppfffttttpppPPPffftttTTttttttt

[Anonymous No.28939840]

>>28939143
>>28939389
Funny you call him pajeet when you’re the one without a single argument and a bunch of ad hominem. Methinks you poo in streets

[Anonymous No.28939850]

>>28937036
>>28937227
So whales will control 90% of the voting power same as everywhere.

[Anonymous No.28939907]

>>28937175
>In PoS your coins are locked, in IOTA free
That is not true. Look at Algorand (ALGO).
>In PoS coins can get slashed, not in IOTA
That is not true. Look at Algorand (ALGO).
>In PoS one leader gets determined for every block, IOTA is leaderless and has no blocks
That is not true. Look at Algorand (ALGO). Algorand technically has a leader, but the leader is unknown to everyone else, so it is sort of leaderless in that sense.
>In PoS you get financial reward, in IOTA only voting power
Okay? But how to incentivize anyone to use the system in that case?

[Anonymous No.28939915]

>>28939840
See previous points I made to him before he started cooking hot vindaloo in this thread.

[Anonymous No.28939995]

Well any scarce ressource on this planet is centralized with the rich. Be it money or hardware (which is also based on money). Is there any solution to this fundamental problem?

[Anonymous No.28940191]

>>28939907
Yes Algo is another Gen 3 coin, definitely better than ETH. Does it have fees and can transmit data? These two features are responsible for 90% of current IOTA adoption (which is best in space). Fees are literal dealbreaker for most usecases (see gif)

[Anonymous No.28940311]

>>28939995
This is where we get to the final redpill sir.

The only solution to this problem is that either all humans suddenly become 100% moral and righteous, never going to happen ever.

Or we have a system where a 100% moral noncorrupt thing/being dictates everything as the world leader and noone can escape it, aka some sort of God.

Now this is what the world is knowingly/unkowningly trying to create with AI systems/everyone connected to the internet to be controlled, tho it will fail as its not possible to create a righteous God character to put everything into balance.

the duality of man is inescapable

[Anonymous No.28940396]

>>28940311
In this case dont complain about IOTA consensus

[Anonymous No.28940401]

>>28935680
DR;NS

[Anonymous No.28940790]

>>28940191
In 2021 it will do 47k tps after upgrade (right now it does 1k I think)
fees are less than $0.001/transaction
And finality is very fast (what is the finality of IOTA?)

[Anonymous No.28940973]

>>28940311
Ooohh so cool Im the one who edit that pic

[Anonymous No.28941264]

>>28940790
Finality 10s
Currently 1000mps (IOTA speak for tps, cause data)
Fluid sharding is currently researched. If it works there might be thousands of interacting Tangles (each 1000+mps). But dont want to hype research too much.

As a bonus ofc scalable smart contracts (each SC is its own blockchain with its own validator nodes. Only finalized blocks are anchored on the Tangle).

[Anonymous No.28941488]

>>28940790
>>28941264
Its not an achievement because its centralized.

[Anonymous No.28941492]

>>28940191
Without fees only financial institutions like mastercard (censorship champions) will run validator nodes. There is no motivation for anyone else that isn't already invested on IOTA to get into it.

[Anonymous No.28941556]

>>28940396
That will happen the instant IOTA shills shut the fuck up about "muh consensus for the poor and downtrodden." (this thread OP in case you didn't notice)

[Anonymous No.28941595]

>>28941492
With a node you have prime access to the network, since you can prioritize which transactions you process first. This means every company that relies on a certain tps will run a node. Plus non-profit nodes like IOTA Foundation, Universities and private people.

[Anonymous No.28941630]

>>28941595
>>28941595
>you can prioritize which transactions you process first.
Thats called frontrunning, another downside of the centralized shitcoin

[Anonymous No.28941745]

>>28941630
The incentive to valdidate other transactions is they will grant you Mana. Mana determines how many tps your node can send AT ALL. This means to guarantee your throughput, you will also validate others (for free).

[Anonymous No.28941792]

So IOTA doesn't have an abstract form of "POS" as mana?

[Anonymous No.28941834]

>>28938704
What are you on about? The test net is running without the coordinatir smooth brain.
>>28938749
You don't know what the trilemma is turkroach because IOTA is the only serous project attempting it. Piss off with your broken blockchain.

[Anonymous No.28941919]

>>28936077
>Democratic
forgive my mixing politics with money, but...
would use of 'democratic' at this point be seen as pandering?
weird how a single word can make or break a concept.
the only reason why btc is a thing is because bitcoin sound way better than cryptocoin or blockcoin.
this is the same reason why doge will ultimately succeed.
btw, iota seems so minuscule in thought

[Anonymous No.28941960]

>>28941792
There is actually still debate how to call the new consensus. Technically its "Fast probabilistic consensus with Mana-based sybill protection".

More crisp terms would be
- Democratic consensus
- Swarm voting
- Proof of honest participation
- Proof of flow

[Anonymous No.28941962]

>krautcuck social justice coin
no thx

[Anonymous No.28941979]

>>28935680
he means that he's a dirty commie

[Anonymous No.28942033]

>>28941919
It is democratic in the sense that nodes literally VOTE on conflicting transcations (double spends). Their votes are weighted by their Mana though, which in turn is based on their honest behaviour in the past

[Anonymous No.28942122]

>>28936718
imagine believing this unironically

[Anonymous No.28942308]

>>28942033
i get it, and i like it. trust, all around is good.
i'm looking at it from a marketing standpoint, as this subreddit tends to just be a shillfest and opposed to positive thoughtful discussion about the real reason of why a particular coin works or doesn't.

[Anonymous No.28942438]

>>28942308
The "democratic" term is not fixed and just my little idea. I will talk to people from IF though to see what term they like. Everything is better for marketing then "Fast probabilistic consensus with Mana-based sybill protection"

[Anonymous No.28942531]

>>28941960
Ok, now explain why machines should be "empowered" instead of being subject to human authority.

[Anonymous No.28942623]

>>28942531
https://en.wikipedia.org/wiki/Fourth_Industrial_Revolution

[Anonymous No.28943485]

>>28942531
Ever heard of automatization?