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Is it even feasible to move Bitcoin to Proof of Stake?

• chizhik-pyzhik 4y ago
  It's certainly possible but likely not to happen. Bitcoin developers seem to have adopted a much more conservative stance than other chains, focusing almost entirely on stability and test coverage. I think Ethereum moving to proof-of-stake has hardened this mentality even further.
  • rufusroflpunch 4y ago
    I think it's worth pointing out to people that the developers really have nothing to do with it. If the developers all decided to more Bitcoin Core to proof of stake, the node runners would just switch clients. Proof of work is core to the ethos of Bitcoin.
• abakker 4y ago
  Proof of Steak?
  • DonHopkins 4y ago
    Proof of Bullshit.
• Quindecillion 4y ago
  Yes, and it has already been done. https://coinmarketcap.com/currencies/bitcoinpos/ https://coinmarketcap.com/currencies/bitcoinpos/ Bitcoin is open-source software. Anyone can fork the code and change it however they want. Just need to convince others to run a node with your code and convince the market that your new network protocol is worth something. However the history of Bitcoin hard forks has shown that they're all almost certainly doomed for failure or irrelevancy, because one of the main value propositions of the original Bitcoin is that it's resistant to change by any single authority. Want to replace the original Bitcoin using PoW with a new Bitcoin using PoS? You have to convince everyone running a Bitcoin PoW node (~50k globally) to switch over to the PoS client, including all the miners around the world (~6k globally). Why did it work for Ethereum? Because it's centralised. The community will follow the lead of whatever Vitalik and the Foundation states is the path forward for the protocol. Bitcoin has no such centralised leadership and so is resistant to top-down decision making.