The PoW vs. PoS Debate | Lyn Alden & Justin Drake

Lyn Alden is the Founder of Lyn Alden Investment Strategy and an expert in macro markets who’s also a strong Bitcoin, proof-of-work proponent. Her friendly counterpart, Justin Drake is a researcher at the Ethereum Foundation and is pro proof-of-stake. Both are recurring guests on Bankless!

The two experts debate which is better: proof-of-work or proof-of-stake for creating a global-crypto money system? Other topics include: economic security, deterrence and recoverability in the face of the dreaded 51% attack, minimization of governance power, economic fairness, commodity vs. equity money, and so much more!

Which is your preference, proof-of-work or proof-of-stake? Warning: after this debate, your preference may change.

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Topics Covered:

0:00 Intro
6:15 Backgrounds
8:12 The Better Monetary Premium
11:00 Equity, PoS, Commodity, PoW?
23:30 Hypothetical PoS Bitcoin
30:25 Lyn’s Rebuttal to Multiple Justin Claims
36:05 Justin’s Rebuttal to Multiple Lyn Claims
44:50 Inherently Fair or Unfair?
53:27 Different Kinds of Risk
57:30 Client Diversity
1:03:00 Lyn’s Macro Perspective
1:13:00 Justin’s Technical Perspective
1:17:42 Governance & Memes
1:29:55 The Rich Get Richer?
1:32:35 Closing Arguments

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Resources:

Lyn’s Proof of Stake Article
https://www.lynalden.com/proof-of-stake/

Economic Security & Efficiency
https://docs.google.com/spreadsheets/...

Lyn’s Twitter
  / lynaldencontact  

Justin’s Twitter
  / drakefjustin  

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Not financial or tax advice. This channel is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. This video is not tax advice. Talk to your accountant. Do your own research.

Disclosure. From time-to-time I may add links in this newsletter to products I use. I may receive commission if you make a purchase through one of these links. Additionally, the Bankless writers hold crypto assets. See our investment disclosures here:
https://newsletter.banklesshq.com/p/b...