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Proof of work (PoW) is inherently distributive. Coin holders don’t receive any coins simply for having coins. You can either earn new coins through exchange or expend energy to mine them.

Proof of stake (PoS) is inherently concentrating. Large coin holders receive new coins in proportion to coins they hold. They earn yield by staking their coins and increase their stack indefinitely and exponentially without no further expanses.

This is why large corporations love Proof of stake bc they can easily control it. This is why proof of work matters. This is why we #Bitcoin and not #Shitcoin.

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Discussion

Jose Sammut 2y ago

Competitive issuance is fair issuance. Issuance to holders is oxymoronic.

Duvel 2y ago

I like the term competitive issuance.

Bitopia 2y ago

Well said!

BitcoinAddict 2y ago

Also POS is inflationary

🇰 🇷 🇾 🇵 🇹 🇮 🇽 2y ago

In a nut shell!!

Bernie 2y ago

It’s actually even worse. Because stakers get coins in proportion to their % of total stake.

So if only 10% are staked, they stake 2% of total network, so receiving 20% of all new coins.

In above example you can control the network with just about 5% of coins.

And finally delegated staking fucks it up completely

네딸바 2y ago

And they premined and rewarded themselves from the start😂 what a mad 🤡

Duvel 2y ago

A fair distribution of coins. What about those who have more to spent for mining rigs and thus have a higher probability of receiving more coins?

Carl B Menger 2y ago

I never said that #Bitcoin is a Marxist invention.

Duvel 2y ago

It is a genuine question. I'm not suggesting anything you've said.

Mindaugas 2y ago

Bitcoin mining is an industry no different from any other. You spend your own time, add other resources, and so you produce product - profit.

You are welcome to support your less gifted relatives and friends, but business works like any other business, and just like nature does: whoever produces the best product has the best product, either for oneself or for sell. No room for systemic support of the less gifted ones in here. As mentioned, families and close ones must support them. The broader nature promotes the strongest ones.

And when you say "who has more money", you mean more bitcoin. And bitcoin can only be earned fairly. So all good.

Of course there is this one time initial transition from unfair money. But there is no way around it. When you are in shit, you are all shitty even while stepping out of it.