Makes some interesting points, though “scam” is a label that exhibits confidence in them at the wrong level of abstraction.
I’ve personally always thought of PoS, to the extent I grok it it, as “fiat by other means.” Not an exact substitute for PoW yanmaani.github.io/proof-of-stake
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Cf. Throwing around the label “scam” is fine as a way to trash talk opponents and pick a fight, but if you actually believe it even as a metaphor in cases like this, you have an epistemic hygiene problem. A scam is a scheme intentionally designed to deceive and defraud.
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Logging an idea that seems important for future reference. A lot of shaky thinking is marked by what @bysl referred to as “confidence at the wrong abstraction level”
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PoS may well have structural problems people are in denial about, that’s showing up as perversely difficult engineering problems and roadmap slippage, and drive compromises or abandonment in future. Happens all the time in tech. It’s a different problem than “scams.”
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