Post
Topic
Board Bitcoin Discussion
Re: Good days to bitcoin will be back soon.
by
Zaguru12
on 18/11/2022, 18:26:53 UTC


As for POS nothing more to say infact the recent saga around Centralized exchanges as proven that POS doesn't have a future due to its centralization, I just hope investors do not realise it late.

If comparing POW with POS then of course POW will be the better choice because it brings decentralization but the collapse of exchanges, specifically FTX in recent days, I think has nothing to do with POS. All the people who lost money in the FTX crash are aware of the risks of putting their money in FTX but they chose the risk to seek profit and they were too subjective to trust FTX completely.

I was in no way comparing FTX situation to POS it was just an example that no matter how clearer its looks once two or three people can control something like exchanges then it will lead to manipulation. With POS I think the highest stakers control it more than the others. What if two or three people have the highest number of the coins and they decide to withdraw them wouldn't affect the other smaller stakers and in this sense isn't coin central between them.

 Major example is Lido and Coinbase controlling almost 40% of ethereum nodes. Can these two manipulate the ethereum node to there favour? Then its slightly similar to CZ controlling Binance