Bitcoin

Today, a majority of BTC is traded and custodied on CEXs. With the advent of ETFs, in the long term BTC will effectively be controlled by a few regulated CEXs. Might as well cancel PoW and go PoA - it'll actually be more decentralized than 2 mining pools & a handful of profit-maxi centralized mining corporations.

wouldn’t we be back at square one, except with BTC as the currency in use?

i know that i know nothing. thinking out loud in /quezt while listening to /hiphop.

BDFL of Quilibrium, Eng @ Farcaster, ex-Coinbase, always opinionated, never hydrated

/quilibrium

i’m stupid, so pardon me if my question is silly but when you say a revamp, do you mean refactoring or like, a rekindling of people’s commitment to it?

we're kind of getting to that point. I suspect if satoshi were still around, they would agree that pow needs a revamp