Re:Mainnet Merge Announcement
by paulmd on Wednesday August 24, 2022 @11:39AM
(#32580850)
the existence of ethereum as proof-of-stake makes it impossible to stop proof-of-work coins via exchange regulation/etc. It's trivial to run exchanges on ethereum and therefore they largely exist outside any possibility of regulation. Previously you could sorta leverage this in via the exchanges/etc but now there is no possibility of ever banning the environmentally-harmful PoW coins.
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Your post makes many assumptions. One - existence of trustless bridges from PoW chain to Ethereum (trustful bridges are rather easy to kill). Second, regulation can be achieved in a way OFAC does it - "anyone who holds/buys this token is a felon". This drives money away from the chain, reducing its PoW budget.
And I really suspect that Ethereum will win the race anyway. At least until something really juicy appears (like private contracts, chain-managed secrets, etc).