I'm a cryptominer, I do proof of work because I believe in incorruptible, open source, fair, permissionless, non-custodial data tracking and money.
I see a big trend to push into Proof of Stake. It makes no sense to me. It's only slightly more secure than regular banking and it's an interest/inflationary model of money, many are centralized and CBDCs are just proof of stake cryptos. It basically feals like the bankers are trying to destroy cryptocurrency by infecting it with the banking system.
Is it just me who thinks like this? What are your thoughts?
Looks like war then. I knew the bankers were going to fight back. I was expecting them to use legislation. I didn't expect them to invade and corrupt. I should have. It's their MO.
I like gold and silver, but pay for something online with it lol.
Glad to see it's not just me.
When I was learning about crypto, pow made me excited and hopeful for the future. Then I read about proof of stake and I'm still angry.
Kind of defeats the entire purpose of having gold or silver though. Cuz you'r gold and silver are still held in a custodial service. If the custodian decides to steal your assets, I mean he already has them. It's like buying gold or silver on the stock market, you don't actually have gold or silver you just have a promissary note that says that it's yours, like an old greenback.
If I could store my assets in a non-custodial manor like a safe we're only I have the combination or the key, that's significantly more secure because then if somebody wants it they have to come get it.
That's why I like my private wallets. They're non-custodial so for somebody to steal my crypto they would have to bust into my house and steal my recovery keys.
I live in Canada so this is something I think about because my prime minister and deputy Prime Minister and finance Minister of all decided that they can just steal your money whenever they want.