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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ManuAlzuru🥑
@manu
Thank you for sharing your perspective. IMHO PoW & PoS both claim decentralization, but both lead to centralization. Different mechanisms, but basically the same. As you mentioned PoW ends up Centralized. If I think about it mining isn’t truly decentralized. ASIC production is basically controlled by a few manufacturers who mine first with the machines and then sell later to whoever they want. Access to mining is gatekept from the start. Over time, economies of scale make solo/small scale mining almost unfeasible. Cheap energy + latest hardware = industrial dominance. Mining pools further consolidate power.
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ManuAlzuru🥑
@manu
While PoS eliminates energy waste, it favors capital. Wealth compounds as staking rewards go to those who already have a stake. Many PoS systems also require a minimum stake, pushing validation (sometimes governance) into the hands of large institutions & exchanges. So to me both systems have centralization vectors. One initially through industrial infrastructure (PoW), the other through financial capital (PoS). If decentralization is the goal, do we need a new consensus model? Or is centralization just the inevitable tradeoff of any large-scale blockchain? Curious to hear your thoughts.
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