Couldn’t the same thing be said about Bitcoin though? With all the mining pools? The biggest pool ultimately has most control/profit over the system.
In Bitcoin you have to race to have the fastest gear, cheapest power, most robust connections, elegant software. In POS the king can sit on his ass and rule the entire system.
So in Bitcoin, the guy who can afford to buy the “best gear” is the king and gets to sit on his ass and rule the entire system then. Still risk of one miner taking control/power.
In Bitcoin it's only a temporary seat on top. You've obviously never mined before. Mining rigs turn into doorstops so quickly that people have chartered 747s to deliver them.
That’s the point though... he who has the most money sits on top and controls the rest.
You seem to think that once you're up there it's easy to stay there permenantly. Couldn't be further from the truth.
So there is risk but it's very temporary. POS whales are permanent oligarchs who don't need to spend a dime to control the coin forever. Huge difference.
It depends on how the POS is set up though. When there is an inverse voting system in place then everyone has a voice and everyone is rewarded for contributing to the network.
Rigging like that it only makes it easy to game. One whale can easily split into a million minnows in an anonymous environment.
Only temporarily. If they stop upgrading and staying on the cutting edge they'll soon be unprofitable.
yup this - they must constantly work to keep up or they become irrelevant. you also must think of creative methods like optimizing your own client software or attacking other chains...
