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I'm not. Bitcoin has stagnated, and it hasn't delivered its promise of being used as a DeFi currency. I bet if it was Ethereum that El Salvador had chosen, the
by chaostheory 5y ago
I'm not. Bitcoin has stagnated, and it hasn't delivered its promise of being used as a DeFi currency.
I bet if it was Ethereum that El Salvador had chosen, the opinion wouldn't be as harsh. Proof of stake doesn't have the same energy consumption concerns.
imo this is still a great development for all of crypto and DeFi. It will also help protect people who aren't connected and wealthy from losing their value due to ever higher levels of inflation (it is currently much higher than 3%) http://www.shadowstats.com/alternate_data/inflation-charts http://www.shadowstats.com/alternate_data/inflation-charts
- keymone 5y agoProof of stake doesn’t use the energy because it doesn’t solve the problem that bitcoin solves.
- chaostheory 5y agoYes, but what's your point?
- keymone 5y agoit's part of the larger argument: proof of stake systems give up explicit and transparent cost of decentralized permissionless currency for obscure and hidden costs of centralized and permissioned currency. and that cost is generally higher, because proof of work is the most efficient known (or possible) solution of such problem.