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Think PoS Is the Future? Look at USD That Is a Failed Implementation of PoS, Then You’ll Buy Bitcoin. Proof-of-Work is a system made for the good of all.

Think PoS Is the Future? Look at USD That Is a Failed Implementation of PoS, Then You’ll Buy Bitcoin. Proof-of-Work is a system made for the good of all.



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14 Comments

  1. PoS might work in some scenarios, but in situations where decentralization is an absolute must (as in the case with scarce assets like Bitcoin to prevent tampering and censorship), PoW is the only solution.

  2. While I have no reason to defend, or like, Proof of Stake, the whole “USD is a failed implementation of PoS” argument in the article is a total non-sequitur.

    If PoS centralizes power in the hands of a few, it does not follow that a different centralized system of power that **shares nothing in common with PoS** is somehow an example of PoS.

  3. PoS doesn’t get the advantage of military and police…yet anyway. There’s no reason a PoS network couldn’t decide to declare national sovereignty and start printing armies and other govt programs once it grows big enough to do without hyperinflating the base.

  4. I really don’t have an opinion on PoS or crypto. I am not out to influence anybody. I look around and Bitcoin is the best store of value ever devised with a technology behind it that is innovative beyond measure. It is almost inevitable, in my opinion, that it becomes money. I don’t need to worry about convincing strangers on the Internet. I am not in this for the gold rush. I am here for the future.

  5. tldr; As of June 2021, the share of renewable energy in the electricity consumed by the Bitcoin system was 56%, which is an excellent figure. However, the opponents of Bitcoin don’t want to hear about the numbers. They prefer to continue criticizing Bitcoin no matter what. A currency for the people backed by the people is not something they think is a good idea.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  6. You simply can not build a network trying to become sound money on a proof of stake system. It’s far less egalitarian and far less secure than proof of work. PoS is going to be an interesting experiment tho and I think it will succeed long term for applications outside of money. We only need one PoW chain anyway.

  7. Fiat does not involve “proof” of anything. The word “fiat” means some authority just decrees the “truth” without any need to prove it.

    I agree that PoS is inferior to PoW but let’s not pretend that it’s as bad as fiat.

What do you think?

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