what do you think about the bitcoin meeting where only very few core bitcoin core developer and only a few of the biggest bitcoin miners were invited? Do you think bitcoin is getting more and more centralized? And what do you think about ethereum and the hard fork? I think that bitcoin and ethereum are going to become more and more centralized because of the economic model behind them. Bitcoin is deflationary so the people who have the most money will be rich in bitcoin too. And in ethereum it is similar. In both systehms there are no mechanism to prevent that rich people get richer without producing something usefull for the people like food, produkts or work for the people. Bitcoin is like gold and ethereum is like oil the only diffrent is that bitcoin and ethereum are virtuell so it is not like gold or oil it is not real. It is not doing something good for the people and it doesn't support people who do something usefull like producing food. Those systems are only for the richt. The poor can't profit from those systems. Yes transferring money is going to become cheaper with bitcoin and smart contracts are going to make machines going to be more independent. Bitcoin is a store of value really? You shouldnt store your money in bitcoin you should invest in your local community so the money circulates this is why money is nice because money is only alive if it moves. And why is ethereum inflationary? Does it make sens? Why does ethereum not have a negative interest instead of a inflationary system. If it would be negative interest the money would be easier to control. It would be easier because you could vote who will get the money. the money which get in there would always stay the same. In an inflationary system the economy has always to expand which is not good for enviroment. In an system with a negative interast and a fix ammount of money the exconomy doesen't have to get bigger it only can get faster and more efficent. The circulation speed of money is the key of economic success.
Some valid points, the biggest thing about ethereum is pos at least bitcoin doesn't pay the people with the most even more money..., those dev/white black Robyn hood buterin foundation people holding the most, they will be the ones who get the majority of the stake from pos. People haven't caught on to that yet. PoS coins don't work, Crypto is about mining, alot of other stuff too but pow is a must for this to work.
This is a great analogy. Although, I think POS is going to be more energy efficient and faster, but only in mass adoption scale. Someday.
PoW is empirically verified and has ecological validity, i.e it has proven to have worked. PoS on the other hand is still experimental. Moreover: there are new emerging types of PoW. Proof of Capacity for instance (PoC), which is very energy efficient to the extent you can mine with a smart phone. This will allow Ethereum Classic to extend into underdeveloped countries like in Africa, Asia, South America. The current direction of ethereum classic is PoW/PoS Hybrid.
(Dash has just become PoW/PoS Hybrid. If you stake 1000 Dash, you get to be a validating node and earn revenue from transactions )
If we offer both we will attract supporters of both
How we will build Ethereum Classic?
Decentralised Communication & Society
Decentralised Law
Decentralised Production of Goods, Services & Energy
Decentralised Monetary System