Quote from: goldkingcoiner on October 21, 2024, 08:18:17 AM

Not only is PoS a POS (Get it? Tongue

) but it is also a way to completely centralise a decentralized cryptocurrency. When Ethereum became PoS, 2 addresses owned 46% of the nodes. That is de-facto de-decentralized (aka centralized).

That is not something we would want for Bitcoin.

There's no doubt in that. I think the term is overhyped. Especially with Vitalik claiming it's the next big thing. All part of governments' propaganda against climate change. After all, PoS is marketed as "carbon neutral" while PoW is not. Some have criticized PoW coins like Bitcoin and Litecoin due to their "high energy consumption". But they've got it all wrong. Financial institutions (aka banks) are the ones that consume a lot of energy. No one criticizes them because they're part of the corrupt, monetary system endorsed by governments worldwide (Fiat).

PoW can be as "carbon neutral" as centralized PoS if miners decide to use alternative energy sources (going green). No need to switch to PoS ever. But nothing's stopping you from forking off Bitcoin and creating a new PoS-based chain. That's the beauty of decentralization and open source, right? Cheesy