Mineable or non-mineable crypto currencies?

in #mineable7 years ago

Proof of Stake or Proof or Work?

"Proof-of-stake (PoS) is a type of algorithm by which a cryptocurrency blockchain network aims to achieve distributed consensus. Unlike proof-of-work (PoW) based cryptocurrencies (such as bitcoin), where the algorithm rewards participants who solve complicated cryptographical puzzles in order to validate transactions and create new blocks (i.e. mining), in PoS-based cryptocurrencies the creator of the next block is chosen in a deterministic (pseudo-random) way, and the chance that an account is chosen depends on its wealth (i.e. the stake)." - https://en.wikipedia.org/wiki/Proof-of-stake

In other words this means that on the PoS approach you don't have to wait as all the coins are already available for purchase. More or less becoming a short term business venture as one can purchase most of the coins in the entire pool at low price. Creating a big wave to lure many surfers to ride it for a short time as when enough profit has been achieved the wave is no longer there. PoS doesn't seem to add long term value as PoW does.

When you plant a seed, such seed doesn't become a fully developed tree in one day. Added value comes from time and work.

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