[spottybanana]

If you believe in free market capitalism, people should migrate from PoW to PoS coins, because PoS coins provide the same features with less expenses.

In practice this won't happen, because PoS coins don't deliver the same features (security, decentralization, permissionless) or the market doesn't believe they do.

Also the savings with PoS are not passed to the users of the cryptocurrency, but to the stakers, or big holders of the cryptocurrency. How do we even know, that these people will spend the money they make using some more enviromentally friendly way? Maybe they just buy lambos with the money and fly around with private jets.

Mining is quite small amount of the total transacted amount of BTC daily, and people are willing to pay the cost. If you want to replace Bitcoin with some more enviromentally friendly thing, you have to offer the same capabilities (or better). PoS coins fail to deliver this.

[everfree]

> In practice this won't happen, because PoS coins don't deliver the same features (security, decentralization, permissionless) or the market doesn't believe they do.

It's been what, 2 or 3 years since decent PoS designs were introduced to the market? The crypto market is still trying to tell the difference between their right foot and a private key. Give it a few more years and eventually the market will settle convincingly on a design it values the most, be it PoW, PoS, or something else.

In the mean time, it's silly imo to say that the market has decided. The crypto space is still a volatile bloodbath of old chains dying and new competitors rising.

[noxer]

PoS is not the successor of PoW. FBA consensus is. PoS is and always was just a adjusted new version of same idea that only removed the energy problem. The comparison between PoW and PoS is a useless distraction. Its like comparing diesel ICEs with gas ICEs ignoring EVs completely.

>and people are willing to pay the cost.

No they are not. BTC runs on the block reward not on the fees. Without block reward the average Tx fee would be like 150 USD. (Not accounting for the fact that this would significantly drop the number of Tx which would then raise the cost for the rest of the transaction even higher.)

[New_California]

I believe in free market capitalism and you are incorrect. Please see my recent comments history for the "why PoW".