Wow! A much needed discussion is finally starting now! So OP is literally saying the community to move to the POS algorithm and scrap the POW algorithm that miners are using now! I am sure, a lot of big companies will be unhappy after seeing this because these companies have invested millions to set up their mining operations.

But the argument is very valid because only a handful of people/companies are handling the entire mining operations of bitcoin where a commoner like us don't stand a chance at all! So if bitcoin moves to POS, a lot of common people will be happy as they will have better chance to earn bitcoin and make their dream come true!

But wait! What about the rarity of bitcoin? It will be killed if the network moves to POS. Also, if there is a minimum holding requirement given, it will be again controlled by few whales where again commoners won't stand a chance! So this kind of change may become disastrous for the community!

I personally wouldn't want bitcoin to move to a different algorithm because things are now slowly shaping up for bitcoin! It's just a 10 years old currency and still have a long way to go! I believe it's better to maintain the current model because this is how Satoshi designed and developed it!