Proof of stake explained simply by Lyn Alden:
“[staking ETH] would be like a political system where you get a vote for every hundred dollars you have, and then also get paid a dollar by the government for casting each vote. Mary the high school science teacher with $20,000 in net worth gets 200 votes, and earns $200 from the government for voting. Jeff Bezos, with $200 billion in net worth, gets 2 billion votes, and earns $2 billion from the government for voting. He’s a more valuable citizen than Mary, by a factor of a million, and also gets paid more by the government for already being wealthy.”
Proof of stake is just a recreation of abstract power that already exists today. The rich get richer.
LynAlden (npub1a2c…w83a)
MarkHarvey / Mark Harvey
npub1am…rm0pq
2023-04-09 22:56:03
Author Public Key
npub1amfa5fg9l6p6jg6jqw7uxlhk9c38gawkphzndvxm4ftsplw0m7uqarm0pqPublished at
2023-04-09 22:56:03Event JSON
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"created_at": 1681080963,
"kind": 1,
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"content": "Proof of stake explained simply by Lyn Alden:\n\n“[staking ETH] would be like a political system where you get a vote for every hundred dollars you have, and then also get paid a dollar by the government for casting each vote. Mary the high school science teacher with $20,000 in net worth gets 200 votes, and earns $200 from the government for voting. Jeff Bezos, with $200 billion in net worth, gets 2 billion votes, and earns $2 billion from the government for voting. He’s a more valuable citizen than Mary, by a factor of a million, and also gets paid more by the government for already being wealthy.”\n\nProof of stake is just a recreation of abstract power that already exists today. The rich get richer.\n\n#[0]",
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}