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Is anyone actually really sure that Proof of Steak is secure though? Anyway, none of this matters because Bitcoin exists and is the dominant shitcoin (due to f

Is anyone actually really sure that Proof of Steak is secure though? Anyway, none of this matters because Bitcoin exists and is the dominant shitcoin (due to first mover advantage). All these other shitcoins can claim whatever efficiency, but it doesn't matter because that's a very isolated view of the problem. The shitcoin economy as a whole will still be fueled by mining unless somehow Bitcoin gets dethroned and the whole mining thing just goes away. I can't imagine that happening without the whole economy crashing completely into the ground – but that would bring all these efficient coins down with it.

disqard 5y ago
This is my first time hearing the moniker "shitcoin". Thank you :D
chrisco255 5y ago
Yes, they've been live for years. Bitcoin can't do smart contracts, it's not a Turing complete scripting language and it's very difficult to work with, so of course it matters. And already more transactions and more daily volume is settled on Ethereum than Bitcoin, see https://money-movers.info/ https://money-movers.info/ and https://cryptofees.info/ https://cryptofees.info/ (pink lines are Ethereum DeFi applications)