8/ These metals were created from the nucleosynthesis process billions of years ago (ht @realLudvigArt). PoW is our feeble attempt at emulating this amazing phenomenon in nature. If anything, energy spent in PoW is *not enough*, in terms of securing the chain against changes.
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There is reason for this apparently nonsensical interest in PoS. It tries to solve an existential problem that these coins have. There is an implicit cost in holding these coins instead of bitcoin, so an interest paying mechanism must be developed to try to compensate the holders
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Although I agree that Vitalik doesn't understand PoW, that PoS sacrifices every property that makes a blockchain valuable, and I don't think it would ultimately work. I think there is another reason for the interest in it. Trying to save an economically doomed appcoin protocol.
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Yes, it’s possible that ETH is desperate to stay relevant, hence the PoS attempt. However that doesn’t explain the new PoS coins like Cardano.
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Agree. My main argument is regarding Ethereum, I think most of the others are outright scams.
End of conversation
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