Redpill me on proof of stake

[Anonymous No.4258305]

Spoonfeed me on why these coins are special, why people say on /biz that it's the next hot shit (that ridiculous grost pump etc). Whats proof of stake, how does it work etc thanks.

[Anonymous No.4258421]

Spoonfeed me mommyyyyyyyy

[Anonymous No.4258931]

They are environmentally friendly lol

[Anonymous No.4258954]

you get more returns from staking than you do from holding a good stock portfolio for a year

[Anonymous No.4258990]

>>4258305
With POS Miners can only mine as much new blocks as they already hold, so if you own 1% of total coin (your stake) in circulation, you can mine up to 1% of it.

I don't understand why this is better, I think the idea is it takes the power away from the miners and puts it back into the holders of the currency since it forces miners to accumulate - but that sounds like it could concentrate power to them again

So to answer your question I have no fucking idea, but neither does 80% of the fuckers investing in crypto

[Anonymous No.4259378]

Be like me.
Buy ODN at the lowest right now.
Stake the coins on a raspberry pi.
Get 10% reward annually.
Lambo in 2 years.
Yes i have 2.5mil coins

[Anonymous No.4259469]

>>4258931

when you put it that way i want to sell. environmental friendliness is not profitable for any business

[Anonymous No.4259523]

>>4258305
Read this

http://www.truthcoin.info/blog/pow-and-mining/

And other articles he's written. It's pretty dense but basically the tldr is pos just moves the "work" around in a shell game but doesn't really come out to any resource savings. Also, distributions are far more centralized in PoS

[Anonymous No.4259631]

>>4258305
wanna get red pilled nigger?

https://www.youtube.com/watch?v=L5eh24xTUO8

before this i didn't fully appreciate POW.
it's a MUST watch.

you're welcome.

[Anonymous No.4259631,1]

>>4259378
Prove and send pajeet 8k holder the rest for a node

[Anonymous No.4260116]

>>4258305
WHO IS THIS