Great argument why PoW > PoS. While I agree as a whole and specifically with the challenges of social consensus aspect of PoS, don’t PoS “stakers” have to pay the “upfront” cost to buy the tokens in order to stake, regardless of the “reality” they choose to follow?https://twitter.com/hugohanoi/status/951764800077377538 …
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1/ Sure, the penalty would come after they became a bad actor, but they would have to buy X amount of coins up front in order to stake in the first place, (assuming no prior ownership) right?Therefore, haven’t they already “paid” for the incentive to act good?
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2/ And since the market wouldn’t give them the same value for their newly created, alternate reality token, the idea is that they would be wasting the value they put into the original token by becoming a bad actor.
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3/ Only time will tell, but I think this does have a chance to properly align incentives for *most* honest actors. I definitely agree with you though that machine consensus > social consensus and that PoW is more inherently secure than PoS.
End of conversation
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