kcbitcoin's avatar
kcbitcoin 3 months ago
Every time I re-read @Gigi “Bitcoin is Time”, I understand more about Bitcoin and admire its beauty more. This time, after listening to the 7-hour plus podcast by @Vlad, Bitcoin Takeover Podcast on Kaspa interview relating to proof of work, the beauty of proof of work is simply astonishing. PoW is superior to PoS because: 1. No matter how powerful anyone is, everything is reset after each round of game in PoW. Powerful players still have edge in each round, but it is not on an accumulated basis over time. In PoS, power accumulates over time, same as what tradfi is doing right. Capital begets more capital. What kind of new system do we get in PoS? 2. Time is the most precious thing we have as human. If you want something valuable, use your most precious asset (i.e. time) to exchange. Can’t be more fair to anyone, and this is what ensures bitcoin’s moneyness. Bitcoin is locked in time.

Replies (3)

WildBill's avatar
WildBill 3 months ago
Are you in agreement that Kaspa has a place alongside Bitcoin?
kcbitcoin's avatar
kcbitcoin 3 months ago
I would say PoW chains are more credible, and in the long run will have a chance to gain more adoption and public acceptance. Tech-wise, I am still learning Kaspa
WildBill's avatar
WildBill 3 months ago
Good for you for studying and not being closed-minded.