proof of work
vs
proof of stake
proof of work is proving to the network that you have used energy to mine your coins. it is digital energy.
proof of stake is rich people owning the network, paying rewards to the holders for holding the coin
this is the real reason why the trilateral commission is doing a campaign for changing the bitcoin code to proof of stake.
Proof of stake takes the rent-seeking middleman mentality of our modern fiat economy and applies it to currency.
I also think a proof of stake economic model discourages investment because wealth holders have less incentive to deploy their capital productively if they can just earn a risk free return through staking.
Then you consider a coin like Ethereum where 70% of the supply was pre-mined and dolled out to early investors and insiders and you realize that their switch to proof of stake is downright unjust.
Proof of Work is a more equitable model.
