Please list all your resourses and tools for explaining the technological flaws in Proof of Stake.
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50 sats \ 5 replies \ @premitive1 28 Sep 2022
The problems are economic, not technical. What does the technical matter with bad economics?
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30 sats \ 4 replies \ @F 28 Sep 2022
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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0 sats \ 3 replies \ @premitive1 28 Sep 2022
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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50 sats \ 0 replies \ @nerd2ninja 28 Sep 2022
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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30 sats \ 0 replies \ @ek 28 Sep 2022
You don't think we need money? You think we should go back to trade and barter?
Money is a winner takes all game.
Using money the majority does not use makes no sense.
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10 sats \ 0 replies \ @ken 28 Sep 2022
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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21 sats \ 0 replies \ @ek 28 Sep 2022
Why The Ethereum Merge is a Monumental Blunder (13 August 2022)
Was also posted on SN
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150 sats \ 0 replies \ @jimmysong 28 Sep 2022
The main problem is that it doesn't solve the Byzantine General's Problem. The signers have to know what to sign and that requires a central authority.
It's all decentralization theater for that reason. So the technical flaw is that PoS is completely unnecessary since it's centralized anyway.
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0 sats \ 0 replies \ @0391398253 28 Sep 2022
For now it seems like swift on steroids.
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0 sats \ 0 replies \ @nerd2ninja 28 Sep 2022
"Why a Former Chinese Ethereum Community Leader Thinks POS Is a Lie and Joins Bitcoin Education Work"
https://wublock.substack.com/p/why-a-former-chinese-ethereum-community
Also posted on SN: #74725
"In terms of security alone, PoS mechanism still has Stake Grinding Attacks, Long Range Attack, and 51% Attack Cost."
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