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RE: Can Bitcoin Go Proof of Stake?

in LeoFinance2 years ago

Can BTC switch to POS: yes.
Should BTC switch to POS: no.
Will BTC switch to POS: never.

POW mining and the consumption of energy is not something to be avoided.
It is a feature not a bug.
There's no reason to get rid of it and every reason to keep it.
The environmental impact nonsense is blatant political propaganda.

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POW mining and the consumption of energy is not something to be avoided.

Even if all other cryptocurrencies switch to PoS, I do not want Bitcoin to be in the hands of top stakers. Imagining the mining of Bitcoin like digging gold under the ground make me convinced about adopting Bitcoin as a reserve currency of the new world.

A PoS Bitcoin would be another Ethereum Killer killer at most. More than half of the mining operations are done via renewable energy. No need to play with fire on the side of Bitcoin, just keep it as pure and primitive (!) as possible ✌🏼

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It's such an interesting debate because it's all totally pointless game-theory that's never going to actually happen. Funny how people make such a fuss over it. Looking at how conservative Bitcoin is as a network, it is literally impossible to make the change... all that would happen is that another fork of Bitcoin gets created that has exponentially less consensus than the original network... just like all the other forks of bitcoin.