Proof Of Stake Security Budget Flaw – Bitcoin Magazine

This is an editorial opinion piece by Mickey Koss, a West Point graduate with a degree in economics. He spent four years in the infantry before transferring to the Finance Corps.

Ethereum Founder Vitalik Buterin Recently Speaks concerns on the long-term security of Bitcoin citing a relative security budget based on the network fee structure.

These concerns are unfounded and are structured on a false comparison between the two systems. Here’s why:

First, Ethereum proof-of-stake hardware and currency requirements encourage concentration bets into service providers such as major exchanges. Outsourcing poses a multitude of risks including co-opting the network under the approval of the government having jurisdiction where such entities exist.

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