PoW vs PoS

Redpill me on this. I cannot really see the problem with PoS. Obviously you will want what is best for the network long term if your stake is large. Any good papers on this?

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if i have lots of money i can own the network by simply staking

That will cost you half the market cap. Is that really a weakness? I can 51% attack a PoW chain as well, given enough money.

It's all fun and games until Justin Sun buys enough of that token to become the owner of that blockchain

Proof of stake eliminates all competition and ends up putting all the power in those that have the most money (sounds familiar). PoS also gives zero incentive to improve the network. It's a Jewish scam.

But it would take an incredible amount of time and work to make that possible, you can't just buy enough mining rigs overnight like that

Plus, 51% attacks are permanent in PoS, if you have power, you have it forever. In PoW you have to constantly burn energy and hardware to maintain your control.

Also, the worst you can do with 51% in PoW is double spend. In PoS miners and node operators are the same entity (validators), meaning they control slashing, transaction routing. Having majority control is much worse in PoS.

Proof of Stake and Proof of Work are just Sybil Control Mechanisms and on its own they say nothing about decentralization or security, its basically just spam Protection.

And PoW is actually very similar to PoS because with both you have to make an investment into the network either by buying the hardware or by buying the Stake.

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In a purely democratic system, the minority doesn't hold any power, thus any POS coin is only worth 51% of its market cap. That's all you need to control the entire coin and financially genocide all other minority stakeholders.

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>the worst you can do with 51% in PoW is double spend
Is there anything worse than that? Double spending means that the coin goes to zero in a couple minutes.

>Is there anything worse than that?
Selfish Mining and Miner Extracted Value come to mind. An illness all Proof of Work chains have today.

Slashing doesn't have to be a thing on pos does it? Dunno about these things but you might have a good point there.
would this be the case with ALL PoS chains?
Why would he decide to make all the ones that held the token before him rich, and then probably make the token worthless because he is dominating it. This is literally just flushing money out the toilet.

Take the PoST-pill (HDD-based mining)

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Check out Avalanche, it has the best implementation of Proof of Stake, without any Slashing and no 51% Problem.

Maybe, but I don't like the devs. There are hundreds of chains I could research in-depth, but I've seen at least one major red flag with avax so won't get into that one.
Also, please refrain from shilling coins unless using as an example to explain something. We're just discussing PoW vs PoS.

Not with Raptoreum. It's chain has both pow miners and a network of smartnodes that makes 51% attacks effectively impossible. Smartnodes get a portion of each block as incentive.

Seriously stfu with this inorganic shilling. Your scam coin has no place in this thread, were just discussing the mechanisms.

I'm not theoretically speaking, I mentioned Justin Sun because he actually did that a bunch of times already, most famous was steem.
You might go ahead and call him a retard and say financially it's a bad idea, but rich people can and do buy PoS blockchains

Kek ok, that's actually a really good point. What about starting out with PoW then switching to PoS for efficiency later? Justin Sun probably couldn't buy ETH for example.

Avalanche still has the best Proof of Stake mechanism on the Market.
No slashing and just buying the stake to run nodes is not enough, you‘d need delegators on your node too to give it some weight so just buying and staking and attempting a 51% attack wouldnt work.
Avalanche is unlike any other Blockchain network because of its superior Consensus Mechanism and leaderless architecture.

STFU you inorganic shill, you have no idea how see-through you are.

Ethereum has a shitty implementation of Proof of Stake, it has slashing and a leader needs to be elected to make the next block.
Basically the Ethereum team thinks just rewards isnt enough, you should get punished too even tho it doesnt have to be that way as we see with Avalanche.
Only a matter of time until people will get their stake slashed in a painful way, doesnt even have to be their own fault.

So People will try to avoid that risk by outsourcing to a 3rd party which leads towards even more Centralization.
Overall a shitty system they thought up for ETH2.
Also leaving all those Miners hanging, the people who secured the Network for many years, disgusting behavior.

Avalanche has the best Proof of Stake system on the market and its a good example how to do it right.
Ethereum is a good example on what NOT to do.
No idea what Issues you have with Avalanche, guess the best always have blind butthurt Haters.