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?
Proof of stake is not necessarily evil; but central bank digital currencies (cbdc) are!
I’m ok with eth going pos, but will avoid as much as I possibly can any cbdc.
Keep in mind IBM build the computer system for the concentration camps in wwii. Today IBM is building the international vaccine passport system with hyperledger (a private blockchain that uses the same concepts but redesigned to permit centralized control)
Yeah Central Bank digital currencies are terrifying. I want to do absolutely everything in my power to support the proof of work systems and keep an alternative going so that maybe we have a hope in hell of resisting cbdcs. I understand a little bit why the banks want them but they're not benevolent and they're not going to use them nicely.
Simply put it puts too much power in the hands of bankers and governments.
POW vs pos to me is not the real fight.
The real fight is
That is a much better way of putting it. That is a significantly better way of putting it because public versus private, custodial versus non-custodial, anonymous versus traceable. You're right they're all extremely important questions.