nbearableus t1_izbamrq wrote
Reply to comment by IsThereAnythingLeft- in Ethereum’s energy switch saves as much electricity as entire Ireland uses | The success of The Merge concept may now serve as a roadmap to enable a switch from Proof of Work to Proof of Stake in Bitcoin. by chrisdh79
Bitcoins purpose is to send value via blockchain, across the Internet, without central control
POS essentially centralises it to a number of large holders.
Like it or not, blockchain is here to stay and will be the fulcrum of the new monetary system ie. CBDCs
IsThereAnythingLeft- t1_izbfvuw wrote
It was supposed to be a peer to peer payment system, it has openly failed at that and most admit it. 5 tps isn’t a global payment system. The large holders of PoS networks is no different than large mining pools for PoW
nbearableus t1_izbisyx wrote
So it has a purpose. It absolutely has failed, now treated as speculative asset.
Yes there is essentially no difference except I can mine but I don't have enough eth to be of use in pos.
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