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50 sats \ 5 replies \ @premitive1 28 Sep 2022 \ on: What are technical flaws in Proof of Stake? bitcoin
The problems are economic, not technical. What does the technical matter with bad economics?
Agreed, technically they are all pretty much standard. However, there need only exist 1 money, and any amount is enough to run an economy - as long as it is verifiably scarce. Bitcoin wins on this front and many others
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There doesn't need to exist any money at all, let alone only one. I don't agree with that conclusion.
If for most of existence money did not, I don't understand how we can be so sectarian and extremist in our conclusions about how money should work in an economy.
I like bitcoin more than other things, but I don't see how it becomes the only existing money without massive violence,
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Simple, I'm not accepting your random shitcoin that just got minted today which is probably pre-mined in especially in the case of POS is completely untrustworthy and in the case of POW has much less hashrate therefore much less security and as most people just stick to what they know and Bitcoin is what everyone knows, there seems no reason that would be sane to use anything else.
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There doesn't need to exist any money at all
You don't think we need money? You think we should go back to trade and barter?
let alone only one
Money is a winner takes all game.
Using money the majority does not use makes no sense.
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Without money, trade becomes incredibly inefficient. I'm not sure we'd have the progress we have today if not for money.
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