Hilariously I saw an article this week about how Buterin was saying he was worried about Bitcoin because it is proof of work, saying it can't sustain itself and it will be easy to attack in the future. Just shows that all the founders of centralized blockchains are just out to promote their own thing. Now that Ethereum is moving to PoS Buterin feels the need to try to flip the reality and claim that PoW is insecure while PoS is better lol
I don't have anything against PoS. It is better for centralized blockchains (so basically it is better for Crypto) because it is more efficient and if you are a company with a centralized blockchain or at least a only partially decentralized blockchain you don't care about the weaknesses of PoS because you're trying to build apps not money. While PoW is infinitely better for the one highly decentralized blockchain, the one cryptocurrency that is global money - Bitcoin.
You move to PoS either because you need greater centralization or because you failed to achieve enough security through PoW because PoW is pretty much a winner take all system - as Andreas Antonopoulos once said, the world only needs one PoW blockchain, and that's Bitcoin.
As to the OP's question why Bitcoin won't go to PoS. Because (1) it would be very complicated and dangerous, (2) it is entirely unnecessary, (3) it would likely destroy the entire power and importance of Bitcoin, turning into just another crypto rather than a global money, (4) Bitcoin's PoW provides a lot of benefits to society which would completely disappear if it switched to PoS, and (5) nobody in Bitcoin wants to do it because of the above reasons and so there is zero chance it could ever happen.
I don't have anything against PoS. It is better for centralized blockchains (so basically it is better for Crypto) because it is more efficient and if you are a company with a centralized blockchain or at least a only partially decentralized blockchain you don't care about the weaknesses of PoS because you're trying to build apps not money. While PoW is infinitely better for the one highly decentralized blockchain, the one cryptocurrency that is global money - Bitcoin.
You move to PoS either because you need greater centralization or because you failed to achieve enough security through PoW because PoW is pretty much a winner take all system - as Andreas Antonopoulos once said, the world only needs one PoW blockchain, and that's Bitcoin.
As to the OP's question why Bitcoin won't go to PoS. Because (1) it would be very complicated and dangerous, (2) it is entirely unnecessary, (3) it would likely destroy the entire power and importance of Bitcoin, turning into just another crypto rather than a global money, (4) Bitcoin's PoW provides a lot of benefits to society which would completely disappear if it switched to PoS, and (5) nobody in Bitcoin wants to do it because of the above reasons and so there is zero chance it could ever happen.
PoS is flawed by design. Not only it enriches whales, but it makes the Blockchain more centralized. All of the buzz surrounding PoS is the energy-efficiency compared to PoW. But the latter can also be energy-efficient if miners rely on renewable energy sources. Most altcoins will turn themselves to PoS, as it would benefit exchanges and developers more than anyone else. Bitcoin will never become PoS for many obvious reasons. I'm glad the community prefers to keep it that way for the good of the BTC blockchain's decentralization. Who knows if BTC remains the only PoW cryptocurrency on the market? Just my opinion
