What’s Wrong with Proof of Stake?
Bob McElrath
5211

PoW isn’t viable for 3 reasons

  1. Performance: 5 TPS isn’t viable
  2. Electricity: continent-scale power-use ofPoW is a cancer unless it’s computing something useful
  3. Not secure because 1) buying the machines is relatively cheap compared to driving up the price at 50% buy or even 10% buy 2) doesn’t destroy the value of your own stake 3)can reuse to attack any fork.

Furthermore, this articles wrongly assumes that value is determined by cost of production

After something is created its value is set by supply and demand

Stating proof of stake tokens have no value because it cost nothing to add a database row is to deny market supply and demand proving otherwise

Dollars have value too. If you disagree, then send me all your dollars.

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