Bitcoin Will Never Change To Proof Of Stake

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The below is a direct excerpt of Marty’s Bent Issue #1186: “They’re trying to ‘change the code’ again.” Sign up for the newsletter here.

Attacks to make Bitcoin change its issuance mechanism to proof of stake are futile. History has shown that this type of attack will not work.

Greenpeace and Ripple co-founder attacking Bitcoin’s PoW algorithm

We meet here in this dark corner of the Internet a little less than two months away from the 5th year anniversary of the New York Agreement, which led to a Summer of heated battle between major corporations in the Bitcoin space who believed they could instigate an arbitrary doubling of the block size and users who vehemently opposed the move in favor of soft forking SegWit into the protocol. It seems that there are some out there who did not learn their lesson from this battle or simply aren’t even aware that it occurred. This is evidenced by the fact that Ripple’s co-founder Chris Larsen, who should be in jail (and may be at some point this year) for committing securities fraud, and Greenpeace, an organization’s whose founder left when his baby was co-opted by zealots, announced their initiative to “change the code” of bitcoin.

They want to “change the code” so that bitcoin transitions from Proof of Work of work to Proof of Stake because it is more “climate friendly”. Whatever the hell that means.



Source link Bitcoin Magazine

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