Proof of Scam (Po$) is a real socioeconomic exclusively cryptocurrency dynamic – the definition & explanation.
A word on Proof of Scam (Po$) Why it is real and what it is.
Po$ ( Proof of Scam) not to be confused with PoS (Proof of Stake) is an actual exclusive crypto currency dynamic , people like to joke but i’d like to define why Proof of Scam (Po$) is an actual unique socioeconomic effect;
Proof of Scam (Po$) ;
1; Can be broadly defined as anything outside the Random Proof of work distribution, to a degree that it is nearly in the centralized fiat groups of monetary systems, a key element of that is; as a replacement to the Random Proof of Work distribution model you have instead , the “trust us” principal, which is very specifically “human” and associated with the Fiat centralized monetary system, I’m specifically defining the shift from a “trust-less” Random mechanical system, to a “trust us” human system. which some may argue is more flawed for monetary distribution.
2; Also it could be contested that if the Random Proof of Work distribution mechanism is so flawed in either its initial period or in its ongoing distribution, then there may be an allegation leveled that a crypto entity maybe displaying Po$ behavior.
but the better and more provable definition is the first.
Po$ is uniquely a Crypto currency dynamic; Monetary system groups explained.
Proof of Scam is a uniquely Crypto currency dynamic, it can not be used for fiat applications because fiat is not a “trust-less system”.
if you would like to visualize it; fiat centralized paper Debt issued money is in a bubble of its own that can never be governed by a Random Proof of Work system, or any other “trust-less” system.
then we have ; “Cryptocurrency” that is then in its own group which can be split up then into all its other sub groups – of which one is Po$ “Proof of Scam.”
There are many monetary system groups but I will list for example a few to further the explanation;
1. Fiat Debt money issued Monetary group.
This is generally referred to as “Debt money” this system is centralized and issues “credit creation” (new money) by creating loans. both public and private.
2. Fiat money issued Debt free Monetary group.
Generally the same as Debt money except that a “government” is usually issuing the currency without exclusively loaning it into existence, still centralized and still not using any “Trust-less system”.
3. Crypto currency a Trust less decentralized Monetary group
Crypto currency uses Random Proof of work to ensure that there is “Trust-less” ongoing distribution of monetary mechanics.
This group can be then split into its various grouping systems –
- Random Proof of work (rPoW) mostly just called (PoW)
- Proof of Stake (PoS)
- Proof of Scam (Po$)
and so on, individuals can contest the fore and against of each system, but these are the general sub categories.
Summary of Po$ or Proof of Scam.
Po$ can generally be best summarized as the “crossing over” of the trust less aspects of the Random Proof of Work distribution system into to a more fiat like centralized “trust us” monetary group.
in this the Po$ system generally relies on the “good will” and “good nature” of the human trusted distributors (a very key element of the fiat system), there is multiplying aspect to the Po$ system and that is that generally crypto currency is pseudo anonymous, so it could be generally stated that you are relying on the “good will” of anonymous distribution actors.
There are many examples, but the key points to take away are;
- if the (rPoW) Random Proof of Work is flawed in such a manner that distribution relies on the “Trust us” ” “its ok” system.
- the “One CPU One Vote” Principal is replaced by the “trust the anonymous person on the internet” principal.
- As long as it first qualifies as a “cryptocurrency”
- if it has a Block-chain
To be more concise – (Po$) Proof of Scam is still a Cryptocurrency by definition, because it still has a decentralized ledger and thus is grouped in the “cryptocurrency” group, however the key aspect of Cryptocurrency that is generally defined as “Random Proof of Work distribution”, that was defined and to all intents and purposes invented by “Satoshi” and best summed up in his/her comment as “One CPU one Vote”;
This key aspect is shifted from the traditional system of Random mechanics to a more centralized fiat monetary system, so some could contest that it is the worst parts of both systems merged, i.e the pseudo anonymity of cryptocurrency and digital currency combined with the centralized “trust us” ” we have good intentions” of the fiat system.
That is Proof of Scam (Po$) and it is not a joke at all.