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Let me explain briefly why "technical" shitcoiners (think eth bros who pretend they understand PoS) always think their coin has "solved it." Basically, what shitcoiners do is look at high level articles written as PR pieces by project leads. These pieces highlight "solutions," 1/
such as how a particular project has solved X or Y problem in "blockchain." A very popular move is to include a chart comparing coin X to coin Y, Z, etc. These charts always highlight an "inherent flaw" in the other coins. This is perfect shill ammo! /2
So now you've got a decent size cohort of idiot moonboys going around on twitter and the like proclaiming the superiority of "their coin." Well here's the issue..
The issue is that PoS is FUNDAMENTALLY FLAWED. Let me say that again: FUNDAMENTALLY FLAWED. In case you are deaf: /3
The issue is that PoS is FUNDAMENTALLY FLAWED. Let me say that again: FUNDAMENTALLY FLAWED. In case you are deaf: /3
PoS is FUNDAMENTALLY FLAWED!!!!!!!!
Here's the flaw in 3 words so you can all create the appropriate memes:
Stake is centralizing.
See Poelstra's paper for details: https://download.wpsoftware.net/bitcoin/pos.pdf
/4
Here's the flaw in 3 words so you can all create the appropriate memes:
Stake is centralizing.
See Poelstra's paper for details: https://download.wpsoftware.net/bitcoin/pos.pdf
/4
So while your shills are now running around the internet pretending they have the solution to all of the "problems" of the other coins, they are unaware that "their coin" is equally flawed. It doesn't matter what "features" you include or how "scalable" your "solution" is. /5
The ONLY thing that matters is censor resistance... and a coin whose access is controlled only by an ever-more centralized group of stake holders is doomed to fall to the censors. Either the stakers themselves, or another party. /6
So yes these chains can "work" in a limited way (Note: They'll never be truly scalable and as such they'll have rising fees just like Bitcoin. On the flip side, they can scale only at the cost of security). The BEST CASE outcome is rising adoption to the point of censorship. /7
So why even bother? It is due to 3 factors: ignorance of the fundamental problem of PoS (read the paper linked above), ignorance of the SOLUTION that is Proof of Work, and ignorance of monetary theory, which, when combined with knowledge of PoW, shows #Bitcoin 
has already won. /8
has already won. /8
