"PoS is a grift"
Lightning is literal Proof of Stake and I think it's awesome 🙄
Bitcoin was the zero to one moment. PoS is a grift. Ethereum is a grift. Web3 without PoW is a grift. Without work, there is no substance.
#bitcoin #BTC #austrians #economics #rothbard #mises #libertarian #news #finance #blockchain #nostr #freedom #breaking #plebchain #pleb #money #new
#anarchocapitalism #liberty #lightning #freemarkets #trading #politics #government #mining #markets
https://bitcoinmagazine.com/markets/reimagining-web3-with-bitcoin
Discussion
Lightning is a layer 2 that is created on a PoW and performed on a PoW, I wouldn’t classify it as either a PoS or a PoW. The analogy I would use is more of an attached payment system that is built on top of the existing Bitcoin network, similar to an aggregator. But you’re right, it is great.
You literally have to a proof your stake when creating a payment channel. It's the only viable PoS out there.
It’s not a consensus method. It’s just providing liquidity. Settlement is still happening on BTC L1.