Can Bitcoin’s Code Be Changed at the Whim of Powerful Influencers?
Just how secure is bitcoin’s code against political or financial pressure?
This research was sponsored by Luno, a platform that allows users to buy, save and manage cryptocurrencies.
Earlier this year, a $5 million marketing campaign hit presses, screens, and devices everywhere advocating a change in bitcoin’s code from proof of work (POW) to proof of stake (POS).
This ad, shown below, was fronted by Greenpeace and the Environmental Working Group (EWG) and quietly financed by Ripple labs co-founder Chris Larsen. It seems quite persuasive, as you can see below:
However, as impressive as it appears, there is a problem with it.
It is not actually true.
In fact, it is fraudulent in its claims and if bitcoin was a centralized entity of any sort, they would already have issued court proceedings by now. This appears to be designed to appeal to people who have no real understanding of how bitcoin works…
