Hi guys.
Plz don't kill me for asking.
I see a lot of hype around alt-coins.
When asked, many will point out POS as a plus vs bitcoin.
I was wondering:
1. Can Bitcoin change to POS if wanted to by the community?
2. Is POS really an advantage (if it is - is it an advantage because it saves energy, or because it diffuses power)?
Thank you!
PoS doesn't diffuse power, with PoW you can buy things which earn you the Bitcoin whereas with PoS you buy Bitcoin to earn the Bitcoin, either way there will be some extent of centralisation and fights with the small people.
It's also comparatively vulnerable. It needs time to develop.