Proof of Stake was a mistake. great thread from @meltem

10/ almost done with the spice 

i've said this so many times

Bitcoin has accelerated AI by at least a decade. Bitcoin created a new data center business model including behind the meter co-lo, flexible loads, demand response, hedging w the underlying. it's profound. https://t.co/OMOTqD2O0i

11/ i've never said this in public before but, it's time

Proof of Stake was a mistake

Ethereum could have been a trillion dollar protocol with its own robust energy to compute ecosystem. instead MEV extracts billions in value from users and apps. https://t.co/5eqIEnEunu

Meltem Demirors

Proof of Stake was a mistake. great thread from @meltem 

https://x.com/Melt_Dem/status/1902563208436609153

ETH is pretty much now captured, which troubles me. Tell me more about your disagreement!

Well, it isn’t. But if it had stuck with PoW, it would be by now. ASIC mining was already starting to dominate mining at the end of PoW, and by now all mining equipment for BTC and ETH would be made by the same 1-2 companies. Stop and consider, what would happen if an ASIC firmware vulnerability was uncovered tomorrow?