Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Oh yeah, it is that part of the cycle again 
Yesterday, i have read the first FUD article in a long time about Bitcoin, the energy and resource eating monster
This time, the framing was "one transaction is wasting a swimming pool full of water" for cooling the nodes
Again, the Vitalik coin was mentioned as demonstrating an alternative, because "changing the algorithm" (POS, for newbs) saved 99% of energy in the network.
The one argument i couldn't really follow was "the more expensive Bitcoin gets, the more energy intensive the network becomes"
my rating: bullish, though
the more articles
the more FOMO will kick in
A mainstream news law?
Yesterday, i have read the first FUD article in a long time about Bitcoin, the energy and resource eating monster
This time, the framing was "one transaction is wasting a swimming pool full of water" for cooling the nodes
Again, the Vitalik coin was mentioned as demonstrating an alternative, because "changing the algorithm" (POS, for newbs) saved 99% of energy in the network.
The one argument i couldn't really follow was "the more expensive Bitcoin gets, the more energy intensive the network becomes"
my rating: bullish, though
the more articles
the more FOMO will kick in
A mainstream news law?
Shifting of ethereum from PoW to PoS just tells the story that how centralized this coin is with unlimited supply of coins. The decentralized concept originally proposed by Satoshi is only limited to bitcoin.
People do have nature of criticising new products. That's how this world is moving. In initial days people made fun of Wright brothers who proposed idea that human can fly. There are less number of haters for bitcoin with every passing year as more are embracing it.
It will be nice start of week if I see 40k after I wake up on Monday morning!!!
Have a nice weekend everyone.
Yeah, true that.
BUT...
what do you consider to happen if bitcoin would switch to PoS one day?
It's not impossible, there's that. Even if would become relevant through future BIPs, what would you think would change implicitly?
OG's leaving? Institutions going all-in? Big miners wrecking it all for the profits? Satoshi coming out like Superman?
This is not a rethoric question (my example answers are rethoric, though). I really asked for your opinion.
Don't get me wrong, i'm not in favor of PoS, this model is just a No-Go for the sake of Bitcoin's "soul" (an analogy), but i can see the point(s) of such a change, which are on top of "good willing" people, but the downsides have to be considered, too, which is most likely not the case with everybody who likes the PoW ideas, they just see their manifests, not much caring about the other possible effects on the system, which are by no means always positive, imho.
But there's always a bad aftertaste with "good will", inherently, i think most of us here know that "good will" (aka. "wanting only the best for something/somebody) is most always not really the best, especially in hindsight.