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RE: Proof of Stake Coins as (almost) free way to multiply your holdings.
quite interesting! So you don't believe in savings? how do you explain savings?
saving =collection of labor surpluses.
as labour has value=money
saving =collection of values(money)
if there is no incentive to hold values(staking) then wouldn't the value itself lose value
and money would be just a paper?
savings is keeping value you created for the future. Investment on the other hand is taking resources from others (profit) without doing labor yourself. In other words it is slavery.
"if there is no incentive to hold values(staking) then wouldn't the value itself lose value"
true value how much socially necessary labor it takes to create an object. I don't care about the price of stupid coins.
"and money would be just a paper?"
That's all it is right now, we just pretend it has value.
If you don't care about the price of stupid coins, then why are you entering a discussion on an article about cryptocurrencies?
I read all of your comments and wonder if you just want to argue.
"Investment on the other hand is taking resources from others (profit) without doing labor yourself. In other words it is slavery."
Incorrect. Investment is risking capital. The terms of how investors are rewarded for taking that risk is measured as rate of return or ROI. A person or entity holding a significant stake in crypto is taking a risk. PoS ensures that people participating in the system have a proven stake in the system this ensures that the actions they take will be in the best interest of the system.
Debt is a form of bondage (slavery if you prefer) it is a contract to repay what was borrowed with interest to account for risk and opportunity costs that the investor bears.
"Incorrect. Investment is risking capital"
on average capitalism must make profit, or it will literally collapse. So its like saying a casino risks all their money because they are gambling.
"PoS ensures that people participating in the system have a proven stake in the system this ensures that the actions they take will be in the best interest of the system."
Is upvotig yourself the best interest of the system?
also I really don't care how currency is used, I'm talking about capital.
"Debt is a form of bondage (slavery if you prefer) it is a contract to repay what was borrowed with interest to account for risk and opportunity costs that the investor bears."
When a person has no choice in life but to borrow money, college, a house, a car, or even food can put him into that position. It is mass slavery and there is no way to justify it.
"Is upvotig yourself the best interest of the system?"
I am new here and have no idea how upvoting works. I will say that the incentive of people participating in a system need to aligned with the best interest of that system or that system can not be trusted. That is as true for a crypto-currency as it is for the voting system of a representative republic.
"When a person has no choice in life but to borrow money, college, a house, a car, or even food can put him into that position. It is mass slavery and there is no way to justify it."
So everyone is entitled to a house they didn't build, a car they didn't pay for and food they didn't grow just because they were born? That is a very childish and ignorant view. There is no incentive for anyone to INVEST their time (yes time is an investment) to produce any of those things unless there is a direct benefit to them. Stop with the nonsense.
There is no capitalism today, it's oligarchy, socialism and fascism paraded around as capitalism. IT IS A LIE.
Everyone should be angry; we've been cheated, lied to and enslaved. Plantations and slave owners are gone but the US has become the plantation with globalist slave owners. Our lives and the lives of our children have been sold to globalists and banks who rob everyone through inflation and deflation all while creating war and division between countries, races and religions.
"So everyone is entitled to a house they didn't build, a car they didn't pay for and food they didn't grow just because they were born? "
so every business owner is entitled to the products they didn't build and the profit they didn't make?
Free market capitalism is as much of a fantasy as utopian society in socialism....two extreme form of human imagination.....can never happen why?.....GREED
So i am better of promoting my fev coin at the moment
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You seem to forget karl marx is one of the founders of sociology.
"human nature" is based on the society and human conditions. greed is common because it is what we reward under capitalism. Change systems and we lose the vast majority of greed.
Lol... no i have not
Would not that all be an utopian fantasy....have not we gone too far already?
is it not accepted values in our current interpretation of free market democracy?
( you may question the integrity of free market)
That
We are constantly manufactured to be competative and greedy, furthermore, being greedy is encouraged,as a result,casino definately florish, Overconsumption lead to overproduction that generates even more debt, more debt= more necessities - more necessities bring up more invention. And we are constantly competing in the name of individul freedom.
greed and debt are the foundation that generate our necessities & creativity.
Quantitative easing , print money out of thin air, currency devalue, crypto arise ...we definately evolving regardless...i guess crypto is the best answer to mould conventional model of free market into more accepted method.
Main point: staking is necessary to preserve our current acceptance of free market values, incentives are the rule of the game... cryptos are here to survive and cant affort to be radical altogether.
"greed and debt are the foundation that generate our necessities & creativity." wrong
in a free market the only thing that's free is the market.
I would never assume we had free market ever..
Production is only for more profit than the real need....is not that greed
it is? But we could like, you know, produce for need instead of bothering with exploiting the workers for profit.
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http://anticapitalismfaq.com/