Very thought-provoking post, Crouton. I've asked repeatedly in the past why we can't go to a pure "Proof of Service" model to secure the blockchain, but no developer has ever replied.
eduffield flare UdjinM6
or anybody else who would like to at least comment on the feasibility of such a thing, I would be interested in hearing from y'all.
In any event, I'd like to take a moment to address two things:
1) If we wait until the tech is perfect before spreading the word, we will be waiting forever. Ever heard of emunie? Not many people have. Eighteen months ago they were working on something that was literally revolutionary. The problem is that they never released it--the main dev wanted it to be perfect and so he is still working on the code. Unfortunately for them, the project is now (IMO) mostly irrelevant, because their better ideas have been implemented already in other coins which did not wait for perfection before they released. The same goes for marketing. I'm not suggesting a superbowl ad or anything, but you can have the most perfect technology in the world, and if nobody knows about it, then it's all for naught.
2) The mining-is-good-for-the-little-people argument is a straw man, and it's about time that it died. By far the biggest reason I see people promoting PoW is because it allows people with less money to get involved in crypto. That's true to an extent, but people seem to forget that buying a PoS (or Proof of Service) coin on an exchange is a perfectly valid way to get involved. So you spend $500 on mining equipment and get x number of coins. You have the option, of course, of spending $500 on Cryptsy and getting x number of coins as well. Hardcore PoW advocates seem to have this idea that the only valid way to acquire coins is to mine them, and that there is somehow something "dirty" or unsavory about buying them. But let me ask, for those of you who own gold or silver...did you mine it yourself? Or did you buy it from somebody who already owned it? For those of you who own U.S. dollars, did you make them yourself (okay, you might not want to answer that publicly!), or did you buy them?