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What is your opinion of proof of stake? This video got me convinced that proof of work for Bitcoin is the only way to go.



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4 Comments

  1. My opinion on POS: with pos You have to trust that the ledger you are getting is the right one, wealth is centralizing into jurisdictions and entities over time, energy is distributed across Jurisdictions, without the unforgeable costliness of POW its basically the shitty fiat we have now, especially with the fact that a small group will always control it and decide the monetary policy, look through history and learn about money and all your questions will disappear(money quickly becomes worthless when the cost to produce disappears-Rye stones, glass beads, fiat etc)Read Debt the First 5000 Years and some of Nick Szabos work like Shelling Out and his Bitcoin 2021 speech. Wouldn’t hurt to read Inventing Bitcoin either. It’s completely inferior. There are several other reasons, but those are the biggies. Also chain bloat so most can’t run nodes, constantly changing monetary policy that you can’t plan with as a person nor company, premine(no fair distribution) no absolute truth, needs time as an input. And doesn’t encourage a faster build out of green energy.

  2. https://old.reddit.com/r/Bitcoin/search?q=proof+of+stake&restrict_sr=on.

    PoW is more secure, more censorship resistant and ensures a more fair distribution. Maybe some day when govt fiat ceases to exist, and all forms of monopolistic tyranny and money printing are vanquished from the earth, the Cantillon Effect stops existing, and all the bitcoin has been fairly distributed, then we can consider PoS. So probably never. And by that time, the power consumption of bitcoin will likely be reduced substantially, since the race for new bitcoin is over.

What do you think?

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