
Why PoS Ethereum Cannot Become a Base Currency
On the struggle between PoW and PoS in cryptocurrency, I often state my views, but it seems I have never set them out fully on the blog. Yesterday, just as a netizen wrote in asking about this, I wrote a few paragraphs, and I’m posting them here as well. Asked whether Ethereum might replace Bitcoin as the value-preserving currency of future society, my view is as follows: Of course Ethereum can preserve value, but I oppose POS currencies as the standard value-preserving currency, and this is for political reasons. POS provides a mechanism for risk-free interest-bearing accumulation, so value preservers can keep earning interest continuously. Even fiat currency does not…
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