Proof of Work vs Proof of Stake (Proof of Wealth) ⛏️vs💲

In January 2022 we saw massive movement on the ₿itcoin Blockchain. Someone was buying 10's of thousands of ₿itcoins 'privately' over multiple transactions. Billion's of $ worth. Leaked documents from major banks showed they were buying up as much ₿itcoin as possible. Why would they do this? Likely because they know ₿itcoin will become very valuable in the future, also, it was assumed that they would push to change the ₿itcoin blockchain from 'Proof of Work' to 'Proof of Stake' in an attempt to gain control over the protocol and blockchain by pooling their ₿itcoin holdings to become the largest and most powerful stakeholder.

Now we are seeing this plan spring into action. The WEF, Greenpeace, the Biden administration are all attacking ₿itcoin's minuscule power usage, begging to switch it to 'Proof of Stake', where the largest shareholders would control it, could make changes to it, increase the amount of BTC over 21 Million, you name it. Their plan is very transparent and wont work. The ₿itcoin community loves Bitcoin precisely because it can only be changed by majority consensus, and by boasting the largest and most powerful computer network in the world: it is immune to being hacked or compromised via cyber attacks.

Satoshi owns 1 million of the 21 Million ₿itcoin and he's been dormant for 14 years. Michael Saylor owns 1% of the BTC supply and the last thing he wants is for the ₿itcoin blockchain to be changed. The largest holders believe in ₿itcoin as humanity's last chance at Sound Money and will fight government and banks from gaining control of it. https://cryptonews.com/exclusives/who-owns-the-most-bitcoin.htm

In this video, I discuss the differences between Proof of Work and Proof of Stake (which I have renamed as "Proof of Wealth" to better highlight what it really is).

Only decentralized consensus achieved through Proof of Work can provide neutral and ethical money for the world.

The global financial system already runs on a version of proof of stake (where those with the most coins exert the most power over the money and the system), and it would be a shame to recreate this system by relying on proof of stake cryptocurrencies.

Proof of Stake is easy to fake or game.

By contrast, there is no way to fake or game Proof of Work.

Proof of Stake doesn't solve the Byzantine Generals Problem.

There is no way to achieve decentralized consensus with Proof of Stake, no matter how much smoke and how many mirrors you deploy.

Remember this the next time you hear Vitalik or Charles Hoskinson try to muddy the waters.

Proof of Work:
https://manofmany.com/wp-content/uploads/2019/03/Arnold-Schwarzeneggers-Diet-and-Workout-Plan.jpg

Proof of Stake:
https://preview.redd.it/anyone-know-the-context-for-this-pic-of-reagan-and-crew-v0-caskioppvq981.jpg?auto=webp&s=ef574c515e2aa502e2c5ad59a2383e90e6729346

https://www.atlantafed.org/-/media/images/economy-matters/inside-the-fed/2021/03/24/20210315_ecm_fomc_hero.jpg?h=auto&w=100%25

Do you like the current proof of stake system?
https://twitter.com/PelosiTracker_

https://www.bbc.com/news/world-europe-38369822

https://www.politico.com/news/2022/01/10/federal-reserve-vice-chair-resigns-ethics-scandal-526849

https://www.cnn.com/2022/10/14/business/bostic-trading-violations-fed/index.html

Original Video by Bitcoin University (formerly Trader University): https://www.youtube.com/watch?v=AHr0An9GF9A

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