4 ms·
Why not just switch to proof of stake? Isn't that supposed to be much less environmentally costly?
by ignoranceprior 5y ago
Why not just switch to proof of stake? Isn't that supposed to be much less environmentally costly?
- 0x6A75616E 5y agoBecause the authors are clearly just against cryptocurrency in general. They're pro-banks.
- lwansbrough 5y agoBanks are what proof of stake looks like after a few hundred years. Ultimately, proof of stake is a centralizing mechanism. It delegates authority to those with stake, which incentivizes acquiring greater and greater stakes. This will happen through takeovers/acquisitions and slowly, you'll have an oligopoly of centralized powers which control a large portion of the money supply. Sound familiar?