Home Bitcoin Proof Of Stake Safety Finances Flaw – Bitcoin Journal

Proof Of Stake Safety Finances Flaw – Bitcoin Journal

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This is an opinion editorial by Mickey Koss, a West Point graduate with a degree in economics. He spent four years in the infantry before transitioning to the Finance Corps.

Ethereum founder Vitalik Buterin recently voiced concerns about Bitcoins long term security citing relative security budgets based on network fee structures.

These concerns are unfounded and structured upon a false comparison between the two systems. Here’s why:

First, Ethereum’s proof-of-stake hardware and monetary requirements incentivize staking centralization into service providers like the big exchanges. Outsourcing poses a multitude of risks to include the co-opting of the network at the stroke of a pen by the jurisdictional government in which those entities exist.

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