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Is anyone here actually BTC positive? (lemmy.ca)

submitted 1 month ago by [email protected] to c/[email protected]

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I have been using crypto since 2017, made plenty of dumb trades which caused me to lose out a lot. Currently my portfolio is about 80% BTC and while the new USA admin seems they may do more damage than good to the crypto space I'm still positive about Bitcoin.

This sub seems like a meme or anti-btc sub mostly. Anybody here who isn't that way?

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[–] [email protected] 1 points 8 hours ago (1 children)

I agree with a lot of your points, but I’d add that money is a limited economic resource tied to the real world, atoms and all that. Buying stake in a network carries a real, physical cost similar to buying mining equipment.

Also, I don’t think PoS’s more flexible recovery models are necessarily a bad thing. They actually provide adaptability in case of problems.

But if we look at resilience historically, PoW chains have been vulnerable to 51% attacks, like we’ve seen with Ethereum Classic and Bitcoin Gold. Where as with PoS, noone has even been able buy up 51% of a chain for an attack.

[–] [email protected] 1 points 5 hours ago

Sorry but you can't compare the physical ressources of PoW and PoS, mining isn't buying a shit tons of ASICs and getting bitcoins.

How it's recovery model is more flexible ? How does mining can't adapt to issues ?

51% on Bitcoin has been highly improbable from decades now, miners will see it comming fast enough to adapt. Forks and 51% attacks are two very different concept. You had it with ETH PoW and you'll probably get new fork even after PoS chains.

Again I never said that PoS was less secure, I said it was more neutral and resilient. Bitcoin needs to be neutral and resilient as a network. PoS is a different consensus mechanism that have different tradeoff.