Quote from: pooya87 on January 29, 2023, 05:06:15 AM

Interestingly enough a couple of years ago the Chinese government released a list containing a handful of cryptocurrencies which they referred to as "trusted" and basically good cryptocurrencies. In that list you couldn't see bitcoin but you saw ethereum on top of the list!

Of course Bitcoin isn't on the list. China doesn't like it, especially when it's a decentralized and censorship-resistant cryptocurrency. With Ethereum, that's no longer the case due to the fact that the network made the switch to PoS. If China or any other country want to control ETH, all they have to do is go after centralized exchanges. After all, these entities will be the ones staking most of the ETH on the network. If they control the exchanges, they can control ETH.

I cannot say the same about Bitcoin, becuase it has a different consensus algorithm. By being a PoW cryptocurrency, anyone can secure the blockchain with their mining hardware. Exchanges can't use customer funds to perform decisions on the Blockchain. They will need to set up a huge mining farm that will be able to mine 51% of the blocks if they want to control BTC (which is very unlikely they will be able to do this). Believe me, PoS is nothing more than an agenda for governments to control crypto/Blockchain tech. It's all disguised as "protecting the environment", but the truth is that governments are pushing devs to turn their coins into PoS so they can control them (centralization). Who knows if BTC remains "the only PoW coin in town"? Just my thoughts Grin