RE: Proof of Stake Coins as (almost) free way to multiply your holdings.
Stupid is, as stupid does.
Why the mentioning of money? The author didn't mention that term or word you are referring to. How are you defining that word? The word "money" is abstract and has biblical origins directly synonymous with "gods" whom your profile name claims to deny. What money is, or is not, is irrelevant to this article.
Once again, it's not free because; ACCORDING TO PROOF OF STAKE GUIDELINES aka the system set forth by the authors of the token requires a computer to be functioning and ready to complete and verify a circuit. If you don't like the rules then don't play the game.
My intention is not to insult or say that you are wrong; or to defend pos tokens. It is, however, to question the terms and presuppositions this article seems to have attached to it with some.
capital, sorry just trying to use terms you people understand lmao
Think of it like an investment or like a savings account at a bank. You deposit a bunch of money and over time, it grows. That's the basic concept of POS coins.
The more you buy, the bigger the investment and hence more money in your pocket. When you buy more, it raises the price of the coin and therefore those early adopters get a higher ROI. So on and so forth.
resources have to come from somewhere. That extra money comes from the labor of the workers
It's a similar concept with nodes on other POS coins as well. Those who manage the nodes, are investing money on servers and get a share of the profits
have you ever heard of the labor theory of value?
Not really..... Please elaborate?
if you were starving and the payout was your only way to access food and I used my free market to flag you, would that be violence or just my rights?
Trick question, the only thing keeping you from food would be the guard at the door of the market, not money.
The guard is your ruler and god, money means nothing.
This happens for real every day. 20 million die a year of poverty a year.
read this
https://en.wikipedia.org/wiki/Labor_theory_of_value
So I did some research and as it turns out, money on steemit doesn't come out of thin air. There are those who actually manage the nodes (and get a certain percentage of the block rewards) so technically speaking, you could consider them the miners who are managing this blockchain..... Hope that makes sense....
I don't get what workers you're talking about over here. If by workers you mean those who manage the nodes then yes. They have volunteered for this and get paid for it with a certain percentage of each block's rewards. They are also investing their time, energy and money and we can be considered the employees of this firm where we produce content and get paid for our work