> If you bought $1000 of AMZN shares 20 years ago you'd have orders of magnitude more voting power than someone who buys $1000 of AMZN shares today.
Equities typically aren’t masquerading as global currencies. Fairness does matter, here.
It’s absolutely material that the pseudonym “Satoshi Nakamoto” had no reasonable expectation of profit at the time of launching Bitcoin c. 2009, for instance.
It’s also material that Bitcoin miners couldn’t continue mining bitcoin absent continuously ordering new ASIC miners from Asia, whereas PoS miners can plop down cash on day one, and mine the same proportion of coins forever at little to no additional cost.
AMZN investors aren’t typically peddling narratives involving fairness the way PoS investors are. These people are claiming PoS is “more fair” than Bitcoin. It’s profoundly incorrect, but also rather unsurprising.
I don't think anyone here is saying that PoS is somehow solving world poverty. The people who claim PoS is better than PoW typically do so because it is more power efficient and still capable of running an effective monetary network (at least what we've seen so far). I don't know anyone who says PoS is "more fair" although I would argue that delegated staking is certainly more geographically friendly than PoW (and to an extent, PoS) which will inevitably end up geographically focused in areas with low cost of operation (cold areas with the cheapest power and rent). PoS could be done on a Raspberry Pi plugged into your modem.
Equities typically aren’t masquerading as global currencies. Fairness does matter, here.
It’s absolutely material that the pseudonym “Satoshi Nakamoto” had no reasonable expectation of profit at the time of launching Bitcoin c. 2009, for instance.
It’s also material that Bitcoin miners couldn’t continue mining bitcoin absent continuously ordering new ASIC miners from Asia, whereas PoS miners can plop down cash on day one, and mine the same proportion of coins forever at little to no additional cost.
AMZN investors aren’t typically peddling narratives involving fairness the way PoS investors are. These people are claiming PoS is “more fair” than Bitcoin. It’s profoundly incorrect, but also rather unsurprising.