Post
Topic
Board Development & Technical Discussion
Merits 14 from 4 users
Re: [Megathread] The long-known PoW vs. PoS debate
by
n0nce
on 04/03/2022, 12:57:28 UTC
⭐ Merited by Welsh (5) ,pooya87 (4) ,BlackHatCoiner (3) ,JayJuanGee (2)
I can't believe some people are still thinking that Proof of Stake is the future, just because it spends less energy than Proof of Work, and it fits the green narrative propaganda.
I think this is what is behind the recent push to get bitcoin to convert to PoS. There is not a technical rational behind wanting to switch. There is a desire to implement the green new deal.
If they really cared about the environment, they (Ethereum guys etc) should build mining plants that run on renewables or maybe even develop something that ordinary people can buy and run their miners off-grid. Or something else entirely; what I'm trying to say is that there are much better ways to work on a PoW cryptocurrency to make it impact climate less.

To me, this just seems like a cash grab. The founders know exactly that they have a large amount of coins, while probably not running a single miner. With their greed increasing, they want more coins, so now they're trying to convince people to sell their mining rigs and pump more money into founders' pockets by acquiring large amounts of coin and 'staking' it.