Hacker News Reader

> If someone asked "how safe is proof of work?" ten years ago, everyone would have laughed and thought you're joking

I see PoW and PoS as nearly analogous in this regard - the rich can dominate both and so on - except that PoS is far less wasteful.

I'm excited to see where this goes.

I agree. The article the GP posted posits that they are equally wasteful, but ignores the fact that:

- The thing that they are wasting, capital, was created out of thin air by the act of switching to PoS

- There are large negative externalities to burning power by mining with hashes, which increase the cost to society of using PoW vs. PoS.