Eager to work: Bitcoin switch to proof-of-stake remains unlikely

PoW is the original crypto mining consensus that was popularized by Bitcoin and adopted by several early crypto projects. PoS came into existence with the launch of Peercoin in 2013, and although not very popular at first, scalability and energy efficiency made it a popular choice for new crypto projects.

“We ought to judge a novel invention by the degree to which it solves a problem in society. PoW enables sound money and a decentralized currency backed by real-world energy. PoS can not possibly achieve this.”sent to the United States Environmental Protection Agency clearing that proof-of-stake and proof-of-work are qualitatively different. Thus, it’s misleading to refer to proof-of-stake as a more “efficient” form of proof-of-work, since it does not achieve the same thing.

While a lot is made out of Bitcoin’s energy consumption, which is definitely on the higher side when compared to other crypto projects, crypto naysayers often see the energy consumption as an independent metric. Meanwhile, Bitcoin’s energy consumption is directly proportional to its security, making it truly decentralized.

Critics often assume that the energy used by Bitcoin miners is either stolen from more productive use cases or results in increased energy consumption. However, research studies have shown that Bitcoin miners utilize nonrival energy that may otherwise be wasted or underutilized.

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It's not awesome. And Proof of Waste is at the root of why it's its the ur-shitcoin. It doesn't excel at a single Use Case - and every additional Halving turns it more and more into a Pet Rock.

Bitcoin for the entire crypto space can easily be compared to Tether for the entire stablecoin segment. Both of these cryptos are quite popular and can hardly be displaced from their leading positions despite the insignificant buzz around them.

No amount of disinformation will stop me from spending my USDT on Bitcoin!

If BTC is bad for the environment, can we also talk about China and India too then and compare?

stop talking about this

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