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I believe that #Bitcoin 
(Cash) inevitably represents an existential threats to govts
Thus the crypto that endures MUST be censorship-resistant & uncapturable
PoS systems lead to entrenched power which can be captured, thus I do not see PoS coins leading us into the new world
(Cash) inevitably represents an existential threats to govtsThus the crypto that endures MUST be censorship-resistant & uncapturable
PoS systems lead to entrenched power which can be captured, thus I do not see PoS coins leading us into the new world
The new world, a great equalizing event, in this case being a world of 100% financial inclusion, the end of the US empire, the end of untouchable trans-national corporations and indeed the end of central banking and nation-states.
PoW is dynamic. You can always bring more computing power on board & today's machines grow obsolete
PoS however requires controlling coins, which never go obsolete & permit today's elites to onboard directly to elite status again, hence rewarding past corruption
PoW is superior
PoS however requires controlling coins, which never go obsolete & permit today's elites to onboard directly to elite status again, hence rewarding past corruption
PoW is superior
Once an elite takes control of a PoS system, for new people to enter becomes prohibitively expensive at a rapidly increasing cost if the coin has a max limited supply
This further enriches elites of this system and makes it harder for new blood to enter
This is self-destructive
This further enriches elites of this system and makes it harder for new blood to enter
This is self-destructive
Whereas PoW systems constantly have new machines coming out, old machines going offline, and there is no race for an artificially constrained asset in order to be a participant in the system.
Thus PoW has natural cycles of power changing hands fluidly and without drama
Thus PoW has natural cycles of power changing hands fluidly and without drama
The US empire and its USD only survives because it is the largest fraud among fiat currencies in the world and this permits its MMT central bank to print endlessly
But once people migrate to a better medium of exchange, ie #Bitcoin Cash, their power to print money will decline
But once people migrate to a better medium of exchange, ie #Bitcoin
Cash, their power to print money will decline
This process will not be gradual since the whole system is perched on a precipice of debts, deficits, failing infra, exported real industry, bubbles and bad loans
The fiat system is fragile
The fiat system is fragile
Hence, as we see in Nigeria, nation-states will wake up to the reality that #Bitcoin Cash represents their end and will try to turn all cryptos into sandboxed, regulated toys
Thus the crypto that matters in the long run is the one that can survive censorship
Little else matters
Cash represents their end and will try to turn all cryptos into sandboxed, regulated toysThus the crypto that matters in the long run is the one that can survive censorship
Little else matters
PoW means distribution of coins by dynamic merit, ie by whoever converts some work into new coins
but many PoS coins are ICOs, often with distributions skewed to serve the founding team and their venture capital partners
PoW is egalitarian
PoS is centralized and elitist
but many PoS coins are ICOs, often with distributions skewed to serve the founding team and their venture capital partners
PoW is egalitarian
PoS is centralized and elitist
