Author: Prayank 2021-05-08 10:21:04
Published on: 2021-05-08T10:21:04+00:00
The writer of the provided context believes that PoS is not a better consensus mechanism compared to PoW used in Bitcoin. They argue that any proposal related to PoS in Bitcoin is not an improvement and that PoW works better for the base layer or Bitcoin protocol. They also express their opinion that the Bitcoin protocol should not be changed based on mainstream media articles, new buzzwords or trends, altcoins, governments, etc. The writer acknowledges that everything involves trade-offs and that PoS may work for projects that want to use Bitcoin for few things, but it is not the best consensus mechanism for a decentralized network.The writer suggests that there are better things to focus on, such as privacy. They also mention some improvements related to Bitcoin mining, including Stratum v2, more countries starting to mine Bitcoin recently, and recycling ASIC heat. The writer expresses their desire to see people in India researching about creating better ASICs and being more involved in Bitcoin mining.The provided links include discussions on why Bitcoin doesn't migrate to proof of stake, Andrew Poelstra's FAQ on ASICs, and an article about fake stake attacks on chain-based proof of stake cryptocurrencies.
Updated on: 2023-06-14T21:26:07.582951+00:00