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comment by kleinbl00
kleinbl00  ·  2393 days ago  ·  link  ·    ·  parent  ·  post: Crypto isn’t a bubble. Fiat money is worthless.

I meant that very essay. You are a prince among men, sir. I should have said "skimmed" instead of "read" because I'm going to have to read it for realsies now.

To elaborate on mk's point, "proof of stake", from an individual standpoint, means "I am willing to surrender value for a set amount of time in order to vouchsafe the sanctity of the network that delineates that value for which I shall make interest." Instead of "give me a coin, I have done a tremendous amount of work" it's "here's a coin that has already demonstrated a tremendous amount of work, I offer it as insurance for the functioning of the system."