I dont understand proof of stake

[Anonymous No.51021696]

Isn't it the exact same as the same kike system we have now in which those with greater capital will always have more power and politicial sway? So why is it seen as so revolutionary? Because its (((decentralised)))? By that same logic you can argue anything is decentralised. My poop is decentralised. Is this all an elaborate pump and dump ponzi with the illusion of self sustainability that comes after years and years of promised updates ? Btc I understand, xmr. Eth's smart contracts are cool but in reality the cases where trustless scripts are needed or cost efficient are basically zero beyond muh monkey pictures.bros?

[Anonymous No.51021711]

>>51021696
Garbage word salad. Take meds.

[Anonymous No.51021712]

>>51021696
It's just for the greenfags to feel better about themselves

[Anonymous No.51021722]

>>51021711
To deep for you. Keep getting scammed


Also OP, life is a Ponzi scheme

Survival, food and Pain is real

[Anonymous No.51021732]

>>51021696
PoS is fiat.
Simple as.

[Anonymous No.51021741]

>>51021711
no u. you can't concentrate for a minute? Take addies

[Anonymous No.51021747]

How is rich people owning all of the miners any different than rich people owning all of the tokens

[Anonymous No.51021763]

Always was a scam, kiddo

[Anonymous No.51021775]

>>51021747
Miners must sell to make a profit.
Miners must engage with the real economy to make a profit.
Miners are incentivised to not manipulate, at least downwardly, or a least not for long, the coin's price.

PoShitters can sit without doing anything.
PoShitters don't have to engage with the real economy.
PoShitters are incentivised to manipuled the price to accumulate more, generally crashing the price until point of no-return since no one read the fable of killing the golden goose.

[Anonymous No.51021780]

>>51021732
so ethereum is the digitalised talmudic system we currently have?
>>51021747
anybody with a cpu can mine xmr. You can mine it on your library pc's. if mass scale cpu mining took off like btc with asics they could rework the algorithm to be mine able on mobile phones. That is decentralisation, not to mention that with p2pools xmr will be literally immune to 51% attacks. do you not see the difference between anybody with a gpu being able to validate transactions compared to validators being locked out from not having 32 eth, that is said will be deflationary in the future? So the plan is to have a cartel of validators for perpetuity? sounds like the same system we have right now that crypto was invented to overturn

[Anonymous No.51021795]

>>51021763
how has he gotten away with this and hoodwinked everybody into believing eth is the most secure, functional and decentralised network?

[Anonymous No.51021812]

>>51021747
>>51021775
Well but you forget its better for all if the sell pressure is only 1/10
Muh real economy is also bullshit
I think POS is fine for Ethereum since there are 100ks of validators. Well the problems is lido and this shit
>>51021780
XMR is near perffect is needs to have POW, also BTC should have it

[Anonymous No.51021829]

>>51021696
no its completely different dont you see it enriches the ETH whales and turns them into an oligarchy that rules over all of crypto with so much power that even bitcoiners have no choice but to bow before their power

[Anonymous No.51021844]

>>51021812
It’s clear that network fees will be the primary driver of higher validator yields, but also that the reward structure is not economically sustainable without significant growth in those fees. Why would fees keep rising if everybody is hodling and validating, alongside the rest of the eth roadmap being to decrease gas usage and increase scalability ? It seems fundmentally unsustainable

[Anonymous No.51021857]

>>51021844
>It’s clear that network fees will be the primary driver of higher validator yields
No you dont know the economic model
Only the small 1-2 GWEI extra fee goes to the validators the rest gets burned
The main income is the block reward

[Anonymous No.51021868]

>>51021857

[Anonymous No.51021888]

>>51021868
I dont know what this is but i know that what i said is correct

[Anonymous No.51021897]

>>51021888
ok have a nice day vitalik

[Anonymous No.51021905]

>>51021696
What will you now say about proof of Randomness that combined the best of PoS and PoW? Dumb cunt

[Anonymous No.51021914]

>>51021696
this is spot on. well done OP

[Anonymous No.51021929]

>>51021905
why am I a dumb cunt fren? that isn't very nice. how do you prove to the blockchain that they're random, and that nobody got an opportunity to look at them and act on them first?

[Anonymous No.51021964]

>>51021897
Did you ever look up the fee model?
Block reward is the big thing, from the gas fees most get burned. Yes in a bullmarket the fee thing can be maybe just as big or bigger but a high base apy is secured by the block reward

[Anonymous No.51022003]

>>51021775
>Engage with the real economy
You mean pay electricity bills and market sell their crypto for fiat? Or are they mining for charity and ideals alone?
Stakers are also incentivized to not dump their tokens, it affects their principle and ability to compound if they only sell.

[Anonymous No.51022036]

>>51021780
You would never make money mining Bitcoin on a phone unless the price was absolutely asinine. It's a cute idea of course but it's a work of fiction. Would BTC ever consider moving to something accessible for normies? Because the majority of small miners have washed out due to the electricity + hardware costs long ago

[Anonymous No.51022052]

>>51022036
your reading comprehension isnt great fren, I was talking about xmr that entire comment, the devs have changed the algo before to decrease centralisation and will do again if need be

[Anonymous No.51022069]

>>51022003
are you aware of the nothing at stake problem that is an inherent and fundamental weakness in a pos consensus mechanism?
>Because of all the arguments above, we can safely conclude that this threat of an attacker building up a fork from arbitrarily long range is unfortunately fundamental, and in all non-degenerate implementations the issue is fatal to a proof of stake algorithm’s success in the proof of work security model.
troon Vitaliks own words regarding it

[Anonymous No.51022533]

>>51021795
there are people who believe Craig Wright is Satoshi even with the Satoshi wallet signing a message that he's lying about everything
There are people who believe Cardano is the future despite it literally not doing anything
People are stupid.

[Anonymous No.51022821]

>>51021775
To make money with proof of stake you need to sell tokens you yield
You need to spend money buying tokens to stake
Crashing the price is good for miners since less market activity means less miners means easier mining means more rewards
>>51021780
XMR is based but you’re delusional if you think mining XMR is anywhere near worth the money involved for the average person, with one computer.

[Anonymous No.51022967]

>>51021929
It is very much possible. Qanplatform's roadmap already addressed this question

[Anonymous No.51023004]

>>51021696
>Isn't it the exact same as the same kike system we have now in which those with greater capital will always have more power and politicial sway?
Yup.

[Anonymous No.51023084]

>>51021696
Proof of stake isn’t decentralised. With proof of work, you can participate in a decentralised way simply mining coins. How do you on ramp in pos without taking centralised dollars, and using a centralised exchange, I.e binance to buy ethereum?
The only people who were able to participate in staking eth to obtain new eth in a decentralised way are the people who mined it when it was still PoW.

[Anonymous No.51023140]

it's just a sybill deterrence mechanism
you don't think the person with the most energy and computational power isn't also the welathies? this way we don't expend a fuck ton of energy that could be put to better use

[Anonymous No.51023196]

>>51023084
but you need to buy a centralised mining rig using centralised fiat my guy

[Anonymous No.51023567]

>>51023196
The point of decentralisation is that it’s supposed to be censorship resistant. To mine eth, all you need are graphic cards. The government can’t and won’t just ban the sale of gpus.
On the other hand, the only reason someone use binance is because they want to buy crypto, and you HAVE to play by their rules if you want some.
Why are you even in here if you can’t grasp that elementary difference?

[Anonymous No.51023814]

>>51021747
>drill for oil to get more
>can't drill for oil, just buy oil barrels and a central system automatically gives you more depending on the amount in your possession
it's literally the same

[Anonymous No.51023964]

>>51021775
you are a complete retard

[Anonymous No.51025877]

>>51022533
Can you stop spouting such blatant lies.
Goylems are NOT people, and as long as they can vaccinate themselves, are not going to be a longterm issue.
Stop fearmongering.

[Anonymous No.51027910]

>>51021829
So you're saying no future for ETH?

[Anonymous No.51028362]

>>51021763
He's right.

[Anonymous No.51029251]

>>51023964
So fucked up

[Anonymous No.51029268]

>>51021696
Yes that’s why it’s garbage. Proof of work was carefully labored over many years to be a solution for trustless payment. PoS erases anything that bitcoin hoped to achieve. It’s pointless.

[Anonymous No.51030709]

>>51027910
I guess we'd never know for sure until after the merge oldfag. Finding out that there's a privacy protocol on the blockchain for anonymous transactions and shielded assets was also encouraging.

[Anonymous No.51030811]

>>51021763
>history
Gay
We need a blockchain with no history, like the old days. Store your own transaction history, commie.

[Anonymous No.51030867]

>>51021696
No, it’s the same kike system with a few advantages:
-digital so censorship and revision am an happen instantly, across all of society
-decentrally operated, so banks don’t even have to do any work
-public, so you can track all transactions by dissidents (this transparency won’t extend to governments, pedophiles, and governments however)

[Anonymous No.51031023]

>>51025877
Top kek

[Anonymous No.51031041]

>>51030811
It's not about a blockchain with no history. What users actually need is privacy on blockchains so they can make untraceable transactions and mind their own business.

[Anonymous No.51032711]

>>51021696
>same kike system
yes proof of stake is fiat 2.0
however, all that's necessary for us, is to await big wheeze.
>big wheeze?
see picrel