POS is a scheme for illegal unregistered securities

[nullius]

@d3l

Lol there is little point to discuss why POW is better. I still wonder when BITMAIN will launch their POS is bad POW is good campaign or if they have already done so. They got billions at stake.

That’s a nonsensical conspiracy theory—and pretty much backwards, when VC-backed projects are actively shilling for POS everywhere for a reason.

For my part, I have a long record of extreme hostility to Bitmain’s corruption, and hostility to Jihan Wu personally (reference for those who don’t know the background to that one). I condemned Bitmain earlier in this thread—on this very page, which you evidently did not read:

@nullius

The substance: When I point out that POS centralization empirically results in such scenarios as the Steem hostile takeover and the Terra centrally-commanded hardfork, whereas POW Bitcoin empirically resisted years of multiple hostile takeover attempts by powerful miners such as Bitmain, the only counterargument is to accuse me of “extremism”.

I am likewise hostile to the corrupt financial manipulators who profit the most from POS.

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@d3l

In short. With POS everyone can participate.

This is how you participate in validating a POW blockchain:

[Guide] How to run a Bitcoin Core full node for under 50 bucks!

Zcash needs similar guidance. I recently discussed this in a post here; and both here and on Github, I have started actively to protect poor people’s access and ability to run nodes. (I need that.)

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@d3l

With POW you need to buy expensive hardware and can only be profitable if you live in a country with cheap electricity.

That’s just an argument seeking free money. There is no free lunch. POW miners run on razor-thin profit margins in a hypercompetitive business. POS is by the whales, for the whales, of the whales—but it promises you a mirage of somehow getting something for nothing.