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?
That's not what I meant. Exchangeability within the system is one thing; exchanging outside the online system is helped by proof of stake.
Think of it this way: what happens if one day people wake up and say "I don't care about bitcoin." Independently of the value of distributed architecture and open books, there's no counter. It's an existential problem for bitcoin and most cryptos. Yes, there is true value to a trusted network (most crypto-haters ignore this outright) and secure accounting in and of itself, but beyond that it has nothing. If there was proof that say, the Mormon church, or the State of Texas guaranteed each Brighamcoin as being worth one hour of labor or one bushel of wheat, this would provide a guarantee that, above and beyond the secure transparency of transactions within the system, that the currency could be exchanged from one system to another.
Obviously that's an analogy, but that's how I see proof of stake: a bridge of accountability from the crypto environment to non-crypto and material environments. And that's why I think a centralized blockchain currency is superior (with the important caveat that it can't be controlled by cheats and liars). Bitcoin on its own is a secure value transfer mechanism, but cannot guarantee its underlying value without material accountability, which comes in the form of proof of stake.