[dyndos]

It's not about distributed governance; it's about abusing a dominant role in consensus. PoS is easier to capture, allowing the dominant party to censor and manipulate the settlement chain.

As for governance, with Bitcoin everyone is equally powerless to dictate how things should go. If you appreciate the fixed ruleset, you can choose to participate.

Ethereum is far more nebulous, being piloted by a foundation which hardforks the protocol at will.

[skybrian]

Okay, but in practice you’re going to trade on an exchange, which can… do whatever it wants?

[dyndos]

I don't trade, I accumulate. Through a handful of different exchanges, and then withdraw.

If I had to, I could plug an ASIC into the wall and 'trade' energy value for bitcoin directly with the network.