I am not against proof of stake, exactly. But proof of stake has been around for... | Hacker News

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		cwyers on May 2, 2021 \| parent \| context \| favorite \| on: What is Chia cryptocurrency and why is it bad news... I am not against proof of stake, exactly. But proof of stake has been around for a long time, and is a very small part of the crypto market right now. I don't really understand why, but until proof of stake is able to get adoption, I don't think the existence of proof of stake is a very good defense against the accusation that cryptocurrencies are wasting resources.

my123 on May 2, 2021 [–]

Proof of stake is even more of a Ponzi, with the rich in a given cryptocurrency getting even richer with time.

At least for miners in a PoW system, there’s a pressure for some liquidity by miners selling to cover the mining costs.

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