block inc Q chairman Jack Dorsey hinted at what his thoughts were about that ether ETH/USD Merge citing a colleague’s blog Bitcoin BTC/USD Maximalist calling the space outside of the Apex cryptocurrency “shitcoin country.”
What happened: On September 14, Dorsey, the former CEO of Twitter Inc TWTRshared a link to a blog titled “A Bitcoiner’s Guide to Proof of Stake” by Scott Sullivan.
— jack (@jack) 09/14/2022
In the blog, Sullivan describes Ethereum’s upcoming Proof-of-Stake network upgrade as “notable” so that bitcoiners can understand the differences between Proof-of-Stake (PoS) and Bitcoin’s existing Proof-of-Work (PoW) consensus mechanism. .
See also: WHY IS THE ETHERUM MERGER IMPORTANT?
“Once Ethereum rids itself of PoW’s ‘dirty’ and ‘wasteful’ externalities, we can expect the gloves to be pulled off in the narrative war, and I think bitcoiners should be ready to hit back,” Sullivan said.
The blog goes on to argue why PoW is superior to PoS based on a range of ideas such as decentralization, network security, permissionlessness, and incentive structure.
Screenshot from Sullivan’s blog
Sullivan concludes by saying that those who want to live in a world where their money “will store its value well into the future without changing on a whim” should carefully consider the tradeoffs between PoS and think PoW.
Price promotion: At press time, BTC was trading at $20,167, up just 0.21% over the past 24 hours, according to data from Gasoline Pro. ETH traded at $1,621, overtake BTC and Dogecoins DOGE/USD as traders had anticipated the merger.
Continue reading: 6 hours until Ethereum (ETH) changes forever: what you need to know before the merger
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