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!
This is false. PoS coins become expensive the moment people want them. You need a small fortune to operate a masternode, so its again give all the chance to those with the most money, and no chance to those without. In fact, i think mining gives a bit more of a chance to those without money rather than staking coins that can never be afforded (or would be too few to be worth anything).
Unless you bought them already when nobody wanted them. Which is exactly what happened to bitcoin ten years ago. You now hope somehow those worthless coins would get a bit of a price hike if people switched to them, and try in vain to "influence" the market, but the market isn't budging.
I omit entirely the part of Bitcoin moving into PoS, as this is never happening. Go elsewhere if you want to play with PoS. So far it has been a complete failure, and if they have to be inflationary like fiat, then its even less worth.
Large mining operations will cease to be profitable in the coming years, there is nothing changing that. And those people you point your fingers at will either move to other business or cease operating. The remaining miners will be those with free electricity and hobbyists who don't care (or want to warm in winter, etc). This happens because the speed the price of bitcoin prices slows down over time, and does not go up in parallel to profits in mining. You can clearly correlate the historical data and see how every day mining becomes less and less profitable, in spite of more efficient asic technology.
So whatever argument you may have against mining, will solve by itself naturally. As for deflationary money, it works with Austrian economics. Bring another inflationary coin to the table and you are only encouraging the eternal dominance of the flawed Chicago school of eternal debt and bubble pops.