Any voting mechanism based on money is ultimately rigged. Like Proof of Stake. It just perpetuates that the wealth stays with the wealthy (overwhelmingly in male hands) who get more wealthy over time.
Discussion
Agrees. Proof of Stake is the same rigged system we already have today.
People with the most money aka power should not decide the protocol rules and get outsized reward from that same system as a result.
Let's not even open the can of worms on PoS. The energy around you is still mostly free, comparable to water (in most parts of the world). I totally agree that money can buy the best ways to capture energy, but i do not see any better solutions that we could implement today (or foreseeable future for that matter).
What kind of mechanism would you propose or like to see?
Any closed system is a dead system. Only systems that encourage energy generation instead of destruction will survive long term.
Proof of stake is a closed system, it's only source of energy input and output is what people directly transfer from other systems of energy. Thus, it's a zero sum game that is doomed to fail when people realize the only gains to be made are at the expense of other people.
Proof of work however is an open system that transfers energy in and out through not only energy transfer from other systems, like proof of stake, but from the open system of our world of abundant energy.
Bitcoin is absorbing the current energy of society, while also creating new value by absorbing the excess energy we generate from the earth itself.
Political voting is a false dichotomy regardless of what mechanism is used.
Is free market rigged?