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A comment on China says it wants to eliminate Bitcoin mining. Parent comment

Re:China says it wants to eliminate Bitcoin mining by DennisP on Tuesday April 09, 2019 @06:27AM (#19613252)
Luckily, proof of stake research seems to be going really well. We can have decentralized blockchains without the climate impact.
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Re:China says it wants to eliminate Bitcoin mining by kbody on Tuesday April 09, 2019 @10:18AM (#19614894)
Security-wise they haven't been really tested yet, but Ethereum moving to a PoS model will be a good case.

The only reason they are accepted at the moment is that it's free money, especially for the initial coin holders(founders/friend investors etc.).

For some reason people now accept fully pre-distributed coins. At least Ethereum went through a PoW phase to allow for some non-ICO distribution.

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Re:China says it wants to eliminate Bitcoin mining by frontloadpro on Tuesday April 09, 2019 @09:40AM (#19614472)
POS hasn't been proven to work without centralization.

It's why alt coins have stayed basically irrelevant.

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