1/ So let me get this very straight why ethereum and every POS is a scam and will always be a scam.
Yield farming = A giant ponzi scheme that will last only if new investors deposit their money into it so the previous ones get paid.
Yield farming = A giant ponzi scheme that will last only if new investors deposit their money into it so the previous ones get paid.
2/ The fiat yield farming lasted long cause guess what, their APY ain't 20% and also they have central banks that print free money (in case you haven't noticed).
The POS staking, is nothing but another yield farming with cryptocurrencies.
The POS staking, is nothing but another yield farming with cryptocurrencies.
3/ The big difference between Bitcoin (POW) and these POS systems is that in POW you have to spend money, energy, work and there is a cap in the supply of the coins, even after all the bitcoins are mined, still the mining will be highly profitable as the fees will worth more than
4/ enough to cover the expenses. In the POS all you have to do is to deposit some money (crypto) and you hope they will generate to you wealth out of nowhere.
5/ The only way POS will work, is if new investors deposit their money, otherwise it's doomed to fail as every centralized network. The way that POS work, the rich get richer and the poor, poorer.
6/ As the majority of the supply is owned by few people, they're able to propose whatever they want and make it happen like dictators. Using the democracy function in these system makes completely no sense.
7/ All the POS systems have no cap to their supply just because they have to pay their validators, otherwise they're dead. Ponzis, ponzis, ponzis.
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