polynya
@polynya
It is pretty clear that Bitcoin as a blockchain is a colossal waste of energy. As BTC custody continues centralizing to a few ETFs, CEXs, institutions, in the long term >50% of BTC will be held by a handful of organisations Might as well just cancel PoW and move to PoA at that point. It would actually be *more decentralized* as PoW will inevitably centralize over to a handful of industrial players and pools due to crippling economies of scale. Plus, it'll solve the security budget problem. As before, the full nodes will be there as the last line of defence irrespective The only thing matters for BTC is it remains a speculative store-of-value, doesn't matter the mechanism to achieve that https://x.com/i/trending/1885868663116296256
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Thomas
@aviationdoctor.eth
I wouldn’t put it past a central authority like the US administration to try and push for PoA in favor of a small cartel of doxxed corporate authorities from TradFi. Thus guaranteeing that Bitcoin stays under US control in perpetuity, better backing a strategic reserve, and avoiding the terminal risk of 51% attacks. That would be the ultimate irony for Satoshi’s vision. My alternative future remains that all BTC just lives on as a wrapped token on Ethereum and there isn’t a need to run the original chain anymore.
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cqb
@cqb
Do a Bitcoin merge into the beacon chain as an additional execution environment or an enshrined rollup. Fixes security budget, fixes pow, fixes bridging with shitty wrapped assets
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helladj™
@helladj.eth
What is PoA
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