2 ms·
That isn't a counter argument to the rich get richer. POW is still a race to the bottom that favors the well funded.
by jayd16 5y ago
That isn't a counter argument to the rich get richer. POW is still a race to the bottom that favors the well funded.
- atweiden 5y agoWhat commercial activity doesn’t “favor the well-funded”? That’s a rather moot point, wouldn’t you say? Staking coins just means clicking a button and receiving a financial yield proportionate to your initial investment. Simply showing up with money on day one is enough to earn money on your money. People financially invested in staking frequently pretend like button-clicking auto-yield is the exact same thing as A) procuring powerful computers which rapidly become obsolete year after year, and B) paying for electricity and hosting facilities for those computers over a long period of time. But the difference between the two scenarios is night and day, and no amount of waxing poetic over “commerce favoring the well-funded” will change that fact. To act as if staking has exactly the same economic properties as mining is false equivalence.
- deleted 5y ago[deleted]
- deleted 5y ago[deleted]
- rawtxapp 5y agoThere's a difference between a billionaire generating yield on their money by investing and taking risks vs the Fed just sending them x% of freshly printed money because they are already a billionnaire.