create account

Can Bitcoin Go Proof of Stake? by idiosyncratic1

View this thread on: hive.blog |  peakd.com |  ecency.com
hive-167922 · @idiosyncratic1 ·
$24.38
Can Bitcoin Go Proof of Stake?
Ethereum Merge is about to happen in 3 days. As the big day approaches, Considering the scope of the event, it is a historical time for cryptocurrencies as one of the most popular Proof of Work coins switched to the Proof of Stake consensus model. 

![bitcoin proof of stake crypto.png](https://images.hive.blog/DQmet8QD7BGG27Ejq6nBYd2UcYWbP7rNzEJLQEodrRECCaq/bitcoin%20proof%20of%20stake%20crypto.png)

Though both Ethereum and Bitcoin are kept separate from the other altcoins even in the eyes of policymakers, these coins have unique sides that make themselves different from each other. 

Do you think Bitcoin can switch its model to Proof of Stake?


### Who wants PoS Bitcoin?
Actually, not veteran crypto enthusiasts and institutional investors. Mostly, there are some niche groups of people that go for it. According to [Cointelegraph](https://cointelegraph.com/news/eager-to-work-bitcoin-switch-to-proof-of-stake-remains-unlikely), environmentalists and people who prefer PoS over PoW want Bitcoin to merge itself as Ethereum does.


> Bitcoin (BTC), the original cryptocurrency that started it all and even today continues to drive the market sentiments, has faced numerous challenges along the way. The latest challenge seems to be around its mining consensus, proof-of-work (PoW) and its consequent impact on the environment.

Bitcoin is heavily criticized as a non-eco friendly digital asset that consumes energy to create internet money. As you can guess, there the harder the blocks found, the more energy is likely to be consumed by miners.

![image.png](https://images.hive.blog/DQmWCTvU4eC8uWTFgcqSe1mRcUDBvuJb8A4KRH39RRGhF4L/image.png)
[Rolandberger](https://www.rolandberger.com/en/Insights/Publications/How-crypto-mining-will-transform-the-energy-industry.html)

Though it may look a bit scary and hard-consumer, there is a positive side of mining operations, too.

>  57% of the energy used for crypto mining comes from renewable sources (hydro, wind, solar, nuclear, geothermal and carbon generation with carbon offsets. [Rolandberger](https://www.rolandberger.com/en/Insights/Publications/How-crypto-mining-will-transform-the-energy-industry.html)

More than half of Bitcoin mined is obtained via renewable energy ♻️ As this fact went viral, the environmentalist approach, which one one of the most popular one, lost its initial influence. 

### Okay but Why Not?
**Security & Satoshi**! (But honestly, also miners!)

> Proof-of-Stake coins eliminate democracy and move the power to the ‘richest in the room’. Bitcoin is democratic, where a newcomer and a seasoned veteran have the same voice and the same power.” -[Currency](https://currency.com/will-bitcoin-ever-switch-to-proof-of-stake)

There is a critical point emphasized by O'Brien: Bitcoin means Opportunity Equality! On PoS Staking, unfortunately, the working mechanism makes it even harder for **common crypto enthusiast** to have his/her voice.

![image.png](https://images.hive.blog/DQmSSYFRNjXo9wTFVtS7GRvPZgBthwpatDCxxVbLgvxikYE/image.png)
[Crypto51](https://www.crypto51.app/)

Unless you have enough hardware with crazy hash rates to attack Bitcoin and you have enough millions of dollars for 51% attack, Bitcoin's security is devastating.

Finally, miners have a voice in the Bitcoin ecosystem. It would not be logical for miner companies to sell off their harwares and embrace any idea of Proof of Stake version of Bitcoin.

> nce proof-of-work mining on Ethereum will end. That might put even more public pressure on Bitcoin's big energy use, [Decrypt](https://decrypt.co/109424/the-ethereum-merge-matters-for-everyone-in-crypto) 

Even with Ethereum merge, thousands of people will immigrate to Bitcoin ecosystem after they mil Ethereum network!

One way or another, Bitcoin is still a perfect fit for today's crypto ecosystem. It is beyond a chain that works for projects; it is for a solid financial system in the world!


Bitcoin is already great:
- with increasing network difficulty (via Proof of Work)
- time and money requires to attack the chain
- the vision that is against the corrupted financial system
- increasing percentage of green/renewable energy use. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@idiosyncratic1/can-bitcoin-go-proof-of-stake)
👍  , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , and 198 others
👎  
properties (23)
authoridiosyncratic1
permlinkcan-bitcoin-go-proof-of-stake
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["proofofbrain","ctp","crypto","bitcoin","merge","neoxian","cent","archon","leofinance"],"canonical_url":"https://leofinance.io/@idiosyncratic1/can-bitcoin-go-proof-of-stake","links":["https://cointelegraph.com/news/eager-to-work-bitcoin-switch-to-proof-of-stake-remains-unlikely","https://www.rolandberger.com/en/Insights/Publications/How-crypto-mining-will-transform-the-energy-industry.html","https://currency.com/will-bitcoin-ever-switch-to-proof-of-stake","https://www.crypto51.app/","https://decrypt.co/109424/the-ethereum-merge-matters-for-everyone-in-crypto"],"image":["https://images.hive.blog/DQmet8QD7BGG27Ejq6nBYd2UcYWbP7rNzEJLQEodrRECCaq/bitcoin%20proof%20of%20stake%20crypto.png","https://images.hive.blog/DQmWCTvU4eC8uWTFgcqSe1mRcUDBvuJb8A4KRH39RRGhF4L/image.png","https://images.hive.blog/DQmSSYFRNjXo9wTFVtS7GRvPZgBthwpatDCxxVbLgvxikYE/image.png"]}
created2022-09-12 00:15:51
last_update2022-09-12 00:15:51
depth0
children12
last_payout2022-09-19 00:15:51
cashout_time1969-12-31 23:59:59
total_payout_value12.222 HBD
curator_payout_value12.158 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length4,276
author_reputation497,306,620,132,905
root_title"Can Bitcoin Go Proof of Stake?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id116,534,276
net_rshares33,678,988,328,478
author_curate_reward""
vote details (263)
@antoniojoseha ·
$0.03
RE: Can Bitcoin Go Proof of Stake?
Many people can migrate to eth if they want to, but something im sure it won't happen is someone taking the first place from bitcoin.

Eth is innovating and their fees are probably going to be cheaper, yeah. But it always going to be an altcoin, second place, etc.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@antoniojoseha/re-idiosyncratic1-4bn42m)
👍  
properties (23)
authorantoniojoseha
permlinkre-idiosyncratic1-4bn42m
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["leofinance"],"canonical_url":"https://leofinance.io/@antoniojoseha/re-idiosyncratic1-4bn42m"}
created2022-09-12 00:29:18
last_update2022-09-12 00:29:18
depth1
children1
last_payout2022-09-19 00:29:18
cashout_time1969-12-31 23:59:59
total_payout_value0.014 HBD
curator_payout_value0.014 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length370
author_reputation48,619,941,191,120
root_title"Can Bitcoin Go Proof of Stake?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id116,534,548
net_rshares40,050,649,605
author_curate_reward""
vote details (1)
@idiosyncratic1 · 
I would not have any problem if ETH, though too hard, was able to outperform BTC.

PoS Bitcoin in future may shock all of us, though 😌
properties (22)
authoridiosyncratic1
permlinkre-antoniojoseha-2022912t34241330z
categoryhive-167922
json_metadata{"tags":["hive-167922","leofinance"],"app":"ecency/3.0.33-mobile","format":"markdown+html"}
created2022-09-12 00:42:42
last_update2022-09-12 00:42:42
depth2
children0
last_payout2022-09-19 00:42:42
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length134
author_reputation497,306,620,132,905
root_title"Can Bitcoin Go Proof of Stake?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id116,534,742
net_rshares0
@chekohler ·
RE: Can Bitcoin Go Proof of Stake?
Proof of stake migrates the trust from real-world expenditure and free market actors to centralised control, oracles and validators, it continues to centralise over time and because it has no tether to real world expenses with the burning of energy, it now becomes a system that only references itself and thus fails as a method measuring value

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@chekohler/re-idiosyncratic1-7ujvit)
properties (22)
authorchekohler
permlinkre-idiosyncratic1-7ujvit
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["leofinance"],"canonical_url":"https://leofinance.io/@chekohler/re-idiosyncratic1-7ujvit"}
created2022-09-13 10:07:24
last_update2022-09-13 10:07:24
depth1
children0
last_payout2022-09-20 10:07:24
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length446
author_reputation524,332,427,393,665
root_title"Can Bitcoin Go Proof of Stake?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id116,575,070
net_rshares0
@edicted ·
$0.05
RE: Can Bitcoin Go Proof of Stake?
Can BTC switch to POS: yes.
Should BTC switch to POS: no. 
Will BTC switch to POS: never. 

POW mining and the consumption of energy is not something to be avoided.  
It is a feature not a bug.  
There's no reason to get rid of it and every reason to keep it. 
The environmental impact nonsense is blatant political propaganda. 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@edicted/re-idiosyncratic1-5pq3eo)
👍  
properties (23)
authoredicted
permlinkre-idiosyncratic1-5pq3eo
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["leofinance"],"canonical_url":"https://leofinance.io/@edicted/re-idiosyncratic1-5pq3eo"}
created2022-09-12 19:22:24
last_update2022-09-12 19:22:24
depth1
children2
last_payout2022-09-19 19:22:24
cashout_time1969-12-31 23:59:59
total_payout_value0.023 HBD
curator_payout_value0.023 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length428
author_reputation3,487,917,156,251,768
root_title"Can Bitcoin Go Proof of Stake?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id116,558,778
net_rshares65,691,197,598
author_curate_reward""
vote details (1)
@idiosyncratic1 ·
$0.04
RE: RE: Can Bitcoin Go Proof of Stake?
> POW mining and the consumption of energy is not something to be avoided.


Even if all other cryptocurrencies switch to PoS, I do not want Bitcoin to be in the hands of top stakers. Imagining the mining of Bitcoin like digging gold under the ground make me convinced about adopting Bitcoin as a reserve currency of the new world. 

A PoS Bitcoin would be another Ethereum Killer killer at most. More than half of the mining operations are done via renewable energy. No need to play with fire on the side of Bitcoin, just keep it as pure and primitive (!) as possible ✌🏼

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@idiosyncratic1/re-edicted-6ya7vu)
👍  
properties (23)
authoridiosyncratic1
permlinkre-edicted-6ya7vu
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["leofinance"],"canonical_url":"https://leofinance.io/@idiosyncratic1/re-edicted-6ya7vu"}
created2022-09-12 19:40:36
last_update2022-09-12 19:40:36
depth2
children1
last_payout2022-09-19 19:40:36
cashout_time1969-12-31 23:59:59
total_payout_value0.019 HBD
curator_payout_value0.019 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length671
author_reputation497,306,620,132,905
root_title"Can Bitcoin Go Proof of Stake?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id116,559,153
net_rshares56,429,790,960
author_curate_reward""
vote details (1)
@edicted · 
It's such an interesting debate because it's all totally pointless game-theory that's never going to actually happen. Funny how people make such a fuss over it.  Looking at how conservative Bitcoin is as a network, it is literally impossible to make the change... all that would happen is that another fork of Bitcoin gets created that has exponentially less consensus than the original network... just like all the other forks of bitcoin.
properties (22)
authoredicted
permlinkre-idiosyncratic1-ri44dq
categoryhive-167922
json_metadata{"tags":["hive-167922"],"app":"peakd/2022.07.1"}
created2022-09-12 19:49:03
last_update2022-09-12 19:49:03
depth3
children0
last_payout2022-09-19 19:49:03
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length440
author_reputation3,487,917,156,251,768
root_title"Can Bitcoin Go Proof of Stake?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id116,559,349
net_rshares0
@finguru ·
$0.04
RE: Can Bitcoin Go Proof of Stake?
It can but satoshi wouldn't like it so they won't do it. xD 

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@finguru/re-idiosyncratic1-yay9u)
👍  
properties (23)
authorfinguru
permlinkre-idiosyncratic1-yay9u
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["leofinance"],"canonical_url":"https://leofinance.io/@finguru/re-idiosyncratic1-yay9u"}
created2022-09-12 15:45:30
last_update2022-09-12 15:45:30
depth1
children1
last_payout2022-09-19 15:45:30
cashout_time1969-12-31 23:59:59
total_payout_value0.017 HBD
curator_payout_value0.018 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length159
author_reputation358,211,814,021,785
root_title"Can Bitcoin Go Proof of Stake?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id116,551,931
net_rshares50,510,864,242
author_curate_reward""
vote details (1)
@idiosyncratic1 ·
RE: RE: Can Bitcoin Go Proof of Stake?
Besides Satoshi, miners may kill off us 😅

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@idiosyncratic1/re-finguru-teav4)
properties (22)
authoridiosyncratic1
permlinkre-finguru-teav4
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["leofinance"],"canonical_url":"https://leofinance.io/@idiosyncratic1/re-finguru-teav4"}
created2022-09-12 19:44:21
last_update2022-09-12 19:44:21
depth2
children0
last_payout2022-09-19 19:44:21
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length140
author_reputation497,306,620,132,905
root_title"Can Bitcoin Go Proof of Stake?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id116,559,232
net_rshares0
@muratkbesiroglu ·
$0.05
RE: Can Bitcoin Go Proof of Stake?
I am in favor of PoS for Bitcoin. I am a proud supporter of PoS since 2018. PoS is the new norm. DPoS is the norm of the future.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@muratkbesiroglu/re-idiosyncratic1-44e6gn)
👍  
properties (23)
authormuratkbesiroglu
permlinkre-idiosyncratic1-44e6gn
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["leofinance"],"canonical_url":"https://leofinance.io/@muratkbesiroglu/re-idiosyncratic1-44e6gn"}
created2022-09-12 14:09:48
last_update2022-09-12 14:09:48
depth1
children1
last_payout2022-09-19 14:09:48
cashout_time1969-12-31 23:59:59
total_payout_value0.022 HBD
curator_payout_value0.023 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length236
author_reputation965,812,973,271,119
root_title"Can Bitcoin Go Proof of Stake?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id116,549,114
net_rshares64,378,181,369
author_curate_reward""
vote details (1)
@idiosyncratic1 ·
RE: RE: Can Bitcoin Go Proof of Stake?
> DPoS is the norm of the future.

I would go for PoW Bitcoin forever as it is still the **digital gold** in my eyes. For the rest of crypto, we need DPoS adoption 😎

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@idiosyncratic1/re-muratkbesiroglu-2etmff)
properties (22)
authoridiosyncratic1
permlinkre-muratkbesiroglu-2etmff
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["leofinance"],"canonical_url":"https://leofinance.io/@idiosyncratic1/re-muratkbesiroglu-2etmff"}
created2022-09-12 19:43:39
last_update2022-09-12 19:43:39
depth2
children0
last_payout2022-09-19 19:43:39
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length273
author_reputation497,306,620,132,905
root_title"Can Bitcoin Go Proof of Stake?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id116,559,215
net_rshares0
@poshtoken · (edited)
$0.06
https://twitter.com/idiosyncratic1_/status/1569120163580067840
https://twitter.com/franklinbwhite/status/1569134191010349060
<sub> The rewards earned on this comment will go directly to the people( @idiosyncratic1, @cryptocanny ) sharing the post on Twitter as long as they are registered with @poshtoken. Sign up at https://hiveposh.com.</sub>
👍  
properties (23)
authorposhtoken
permlinkre-idiosyncratic1-can-bitcoin-go-proof-of-stake50313
categoryhive-167922
json_metadata"{"app":"Poshtoken 0.0.1","payoutToUser":["idiosyncratic1","cryptocanny"]}"
created2022-09-12 00:27:30
last_update2022-09-12 01:23:12
depth1
children0
last_payout2022-09-19 00:27:30
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.062 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length345
author_reputation5,163,332,883,690,488
root_title"Can Bitcoin Go Proof of Stake?"
beneficiaries
0.
accountreward.app
weight10,000
max_accepted_payout1,000,000.000 HBD
percent_hbd0
post_id116,534,521
net_rshares173,333,869,969
author_curate_reward""
vote details (1)
@tuxtify ·
RE: Can Bitcoin Go Proof of Stake?
The fact that bitcoin's security has not been perceptibly breached is precisely because it uses POW. It is inevitable that with POS there is some centralization The way of mining, as you mention is to use renewable sources, better optimization of mining equipment, and maybe some change in the hash algorithm. To solve the rest of bitcoin's needs there is yRSK Lighting. Greeting.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/@tuxtify/re-idiosyncratic1-4rftf6)
properties (22)
authortuxtify
permlinkre-idiosyncratic1-4rftf6
categoryhive-167922
json_metadata{"app":"leofinance/0.2","format":"markdown","tags":["leofinance"],"canonical_url":"https://leofinance.io/@tuxtify/re-idiosyncratic1-4rftf6"}
created2022-09-12 21:24:57
last_update2022-09-12 21:24:57
depth1
children0
last_payout2022-09-19 21:24:57
cashout_time1969-12-31 23:59:59
total_payout_value0.000 HBD
curator_payout_value0.000 HBD
pending_payout_value0.000 HBD
promoted0.000 HBD
body_length480
author_reputation5,364,333,340,084
root_title"Can Bitcoin Go Proof of Stake?"
beneficiaries[]
max_accepted_payout1,000,000.000 HBD
percent_hbd10,000
post_id116,563,312
net_rshares0
Help/Feedback