4 ms·

I am not against proof of stake, exactly. But proof of stake has been around for a long time, and is a very small part of the crypto market right now. I don't r

by cwyers 5y ago

I am not against proof of stake, exactly. But proof of stake has been around for a long time, and is a very small part of the crypto market right now. I don't really understand why, but until proof of stake is able to get adoption, I don't think the existence of proof of stake is a very good defense against the accusation that cryptocurrencies are wasting resources.

my123 5y ago
Proof of stake is even more of a Ponzi, with the rich in a given cryptocurrency getting even richer with time. At least for miners in a PoW system, there’s a pressure for some liquidity by miners selling to cover the mining costs.