Exactly this is what ignorant people proposing POS need to understand:
... The security of consensus validation in Bitcoin is independent of miners, for all purposes except for transaction ordering. Miners have a sharply limited function in Bitcoin: BFT agreement on transaction ordering, to prevent double-spend attacks. All other security is provided by the Bitcoin Core node you have running at home on a Raspberry Pi, consuming 10W of electricity at negligible cost.
This is not the case on POS networks. On POS networks, so-called “validators” with high capital stake have total control of the blockchain.
This was just proved in practice a few days ago: The Terra blockchain executed a contentious hardfork in 10 days (!), over massive community opposition. To exercise central authority over an allegedly “decentralized” blockchain, Do Kwon and Terraform Labs needed only the collusion of a relatively small group of large, wealthy DPOS companies. Imagine if Bitmain had that type of power over Bitcoin, and you get the idea of how POS really works!
Thank you so much for this post and its high educational quality.
Explanations like these will be of unbelievable value in the coming months and years, when POW/
BTC will be attacked. (It has already begun)
TL;DR
... POS essentially means a network by the whales, of the whales—for little retail moon-chasers to pour in their dollars, for the benefit of the whales. ...