1917 sats \ 2 replies \ @ek 1 Sep 2023
I would sell my PoS coins for PoW coins
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It depends when it occurred. I don't see mere capital as a sufficient way to secure the network in a world of infinite fiat but if we were on a bitcoin standard and had limited supply money that people/governments can't manipulate and acquire for nothing, it might be more feasible. There still would be a concern over a nation state being able to acquire a massive amount of stake by confiscating it from its citizens.
Maybe some sort of hybrid of PoW/PoS will emerge at some point.
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Recommended read, here I share my two cents about the treat of the ETF and how the financial powers could try controlling Bitcoin: #226279
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PoS also opens the doors to equivocation from block signers. The tradeoff is not just the scarcity of the resource used to secure the network, but also the strength of the claims to finality.
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What the fuck are you talking about
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Pourquoi
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156 sats \ 1 reply \ @OC 1 Sep 2023
It wouldn't be Bitcoin at that point. It would be just another PoS shitcoin
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Bitcoin can't change to PoS. That's called a hardfork and whatever this PoS shitcoin is, it would not be bitcoin. I would sell that Piece of Shit right away for bitcoin. There have been >100 hard forks off of Bitcoin. Sometimes they make a little noise before no one cares, but you probably wouldn't even know if one happens today!
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Of course, because it would mean that the bitcoin experiment failed.
POS is ridiculous beyond a shadow of a doubt, if you really think about it.
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100%
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Bitcoin is POW. My node will not validate POS blocks Therefore Bitcoin will always be POW
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Will never happen... but yeah I would dump the fork coins. Let's just say if I thought this was likely I would not be someone in bitcoin.
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That will not happen, such a code will never get close to my node.
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I'd make sure to spin up a few more nodes and signal POW only, the I'd dump my POS coins for POW coins on the market
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The following does not have to do with OPs question, but I'd love to share some thoughts anyway.
Do your rememebr waht happend during the last cycle? There was a huge POS (Piece of Shit) attack coming from shitcoiners. Specifically ethheads, who were marketing their ultra-sound-money POS (Piece of Shit), in such a way, that it supposedly is better than POW coins. They even went so far as to call for the "flippening" and believed that their POS (Piece of Shit) would be crowned the new King. However, their attack failed and their next attack will fail again.
If you come for the King, you better not miss.
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The newly created money is sent to the original currency holders, which sounds very evil. Bitcoin that becomes Proof-of-Stake is not Bitcoin anymore.
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Proof of Sh**
BTC stronger is BTC POW!
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PoS tried to kill the Bitcoin... Ha-ha-ha-ha They FAILED, as they were thrown to the ground.
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Yes
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There is literally no chance of this happening chiefly because it would cause a mass sell-off.
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That sounds like an airdrop
I'd likely sell around 80% of PoS BTC & then the rest when it fails.
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Swap to xmr and turn on every device as a miner