I just got a story published in MIT Technology Review on why Bitcoin will likely never move to proof of stake. [MIT Tech Review]

Since Ethereum migrated to proof of stake, that’s got more people asking, “Why is it necessary for Bitcoin to consume an entire country’s worth of energy?”

Bitcoin is decentralized in theory only and the folks who control the code are fiercely tied to keeping Bitcoin in its original form for completely irrational reasons.

Bitcoin Cash in 2017 was the last attempt to make any reasonable update to the Bitcoin reference code — and BCH ended up just another altcoin.

Bitcoin purists still refer to Bitcoin Cash as a “rebellion” and a “corporate takeover” as opposed to a sincere effort to reduce congestion on the network.

Now that lawmakers and regulators are getting more fed up with crypto, the pressure for Bitcoin to reduce its CO2 footprint will only increase.

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