Will Bitcoin move to Proof of Stake?

[ChiBitCTy]

Proof of Stake is garbage and it blows my mind that so many people seem to be trying to promote it as if it's a better way to run the blockchain.  The question I ask everyone who is a fan of Proof of Stake is, how many cypherpunks are in favor of proof of stake over proof of work? The answer is not many!  The largest "bag holders" are given too much control with this method..hence a huge reason why Elon Musk owns and promotes Dogecoin...he want's to be in control and that appeals to him.

[Artemis3]

I'm not going to say that Bitcoin will never switch to PoS, the future can be very unpredictable. There were people thought that Internet is just a fad and won't get any traction. But currently such switch seems to be very unlikely and the overall probability is very low, because Bitcoin's main goal is maintaining decentralization and PoS is against it. But maybe Bitcoin community will change after many years and will be more accepting of introducing centralization, or maybe some improved versions of PoS will be invented that will be more decentralized and attack-resistant. But PoW works well enough, so there must be some strong reason to seek to replace it.

Bitcoin will never switch to PoS. If you want to play with that, you can go to the altcoins and see how it goes, good luck.

If i wanted centralization, i would stick to fiat. I have some bolivares for you, bet you want to live earning those instead?. It has only lost 14 zeroes in 13 years. Its already worst than classic textbook example of hyperinflation: Germany post WWI (lost 12 zeroes in 10 years).

Many altcoins have centralization AND inflation built in, because they can't bother to read Austrian economics. So they exist under a flawed model, in other words, its more of the same. Digital fiat with all its flaws and then some. CBDCs or so called "stable" altcoins which are just pegged doing fractional reserve practices without the pesky regulation banks receive, what could possibly go wrong?

And don't get me started with reversing transactions. That act itself destroyed the value forever, if a select few can invalidate transactions at will, its worthless forever.

[DOH!]

POS is the transition of ETH, while performance improvement issues in the 2.0 upgrade, most recently Staked will gradually remove miners from Ethereum.  While bitcoin does not need to do so as POW is highly preferred for miners because of issues related to bitcoin network security. I think,  It is the key feature that keeps decentralization
Decentralization is the source of the existence of the crypto market. POW will make bitcoin unbreakable or pressurized.  Bitcoin will never change this mode.

[Keremgor]

POS is a long ponzi , S.N would ve chosen if it wasnt.

[marine4u]

I think POS will be a serious impact on fairness for the entities participating in the network because it has so many advantages that include manipulation that can happen more in the other way.  POS will be a slaughterhouse for much more enforceable control than POW, bitcoin will never move to POS.

[wxa7115]

Will Bitcoin move to proof of Stake? Does anyone know? What are the developers opinions on this matter?

We have to be very clear about this, this is never going to happen, and if the bitcoin core developers were dumb enough to do or try to do something like this I can assure you that someone will fork the core of bitcoin immediately and from that point on that will probably be considered to be the true bitcoin.

I know there are a lot of people that care about the environment and that do not like the energy consumption of bitcoin, but those people know nothing about the technology behind it and how it is by far the most efficient system that we have in place, it is way more efficient than the banking system that we have in place, so if that is the reason you are asking then don't worry since all of those people do not really know what they're talking about.

[slaman29]

I think more renewable resources will be used for Bitcoin mining and PoS is not necessary.

PoS is for shit coin and their developers launch coin network with huge premined coins. They use premined coins to stake and dominate network when block rewards are high.

Actually, the renewable sources thing is just a FUD in my opinion. Every world industry needs to make the switch, not just Bitcoin mining. It was singled out because of the misunderstanding that mining produces no value (totally wrong of course).

PoS is an alternative I think it can be done right, but agree that most coins using it now are just lazy and scammy.

[Ucy]

We can't move to proof of stake because it's not a true consensus mechanism. You can however hold Bitcoin (without the consensus) and benefit from future price increase.    There is a good reason why Bitcoin consensus mechanism is called Proof of Work rather than Proof of Stake or Proof of Equipment or Proof of Capacity etc. People who know this fact will be careful with PoS to avoid missing the importance of right consensus mechanisms to truely decentralized network.
"When purpose of a thing is not known, abuse is inevitable"

[pinggoki]

Satoshi had made himself clear that once bitcoin was out in the public, there are no alteration that will be made directly to the coin itself. So this means that however people think PoS is beneficial for bitcoin in the long run we can never expect it to be reimplemented into that system because Satoshi wouldn't want and wouldn't do it. Main reason why it wasn't put in the same system I would assume is because Satoshi never assumed bitcoin will be a store of value besides being a form of currency that could rival fiat, so they never bothered with ensuring that computation is efficient and cheap because it was made under the same assumption that it will be used just as how you would use cash.

no, I'm sure bitcoin will stay on PoW. PoS will only make bitcoin lose its decentralization. many people don't want bitcoin to be controlled by some people, therefore PoW is mandatory for bitcoin. bitcoin is special because of PoW, if btc uses PoS I doubt the sensation will be the same.

This is also true, what really made bitcoin outshine fiat is the fact that it is decentralized, and if we were to transfer into a PoS service system bitcoin will inevitably fall into a centralized network which will not fare well for users who adopted bitcoin for its anonymity and security. One more reason why I think it's only fair that bitcoin is in PoW right now, even if PoS in the long run offers some more benefits.

[NotFuzzyWarm]

All attempts to change from PoW to Piece of Shit would break the entire Bitcoin ecosystem. Not only would the Rewards process have to change but so would the millions of miners being used.

In short - it ain't gonna happen!

[dreamer81]

NEVER 

The ones that decides this are the people that has invested heavily in mining hardware. Why would they move to PoS and make their whole investment worthless??

[slaman29]

The ones that decides this are the people that has invested heavily in mining hardware. Why would they move to PoS and make their whole investment worthless??

I always thought about this too, but the ETH miners also resisted ETH 2.0 (which essentially was moving from PoW to PoS) and in the end they also started getting behind it.

I think ETH miners would love it. Stake the ETH they were mining during the grace period, then move their hardware to other PoW alts. Bitcoin people would probably never consider it though, or would they?

[omone1]

Proof of Stakes actually rewards the rich and the network can be hijacked by group of whales for their benefits. while in proof of power, it's purely a decentralized fair distribution and has a stronger better security. Bitcoin is POW and it will remain so.

[coupable]

Proof of Stakes actually rewards the rich and the network can be hijacked by group of whales for their benefits. while in proof of power, it's purely a decentralized fair distribution and has a stronger better security. Bitcoin is POW and it will remain so.

Compared to Ethereum, there should be a way on how to use POS without letting whales manipulate the market. The main difference is that Ethereum has a centralized administration responsible for updates while bitcoin updates need the agreement of the majority of miners to change the mining algorithm .
Actually, the migration from POW to POS will break the entire ecosystem of bitcoin. But for the long term, it will become a serious problem how to reward the miners who maintain the network unless they start impose too much high fees to cover the mining charges at least. This would probably happen after the next halving .

[OgNasty]

Will Bitcoin move to proof of Stake? Does anyone know? What are the developers opinions on this matter?

No, Bitcoin will not move to Proof of Stake ever. I am as sure of this as I am that the earth is not flat. The developers all believe this is a bad idea for reasons that are already littering this thread. Mostly, because Proof of Work is just plain better and more fair.

[MoneyJ]

My bet on this is Bitcoin will never ever go to Proof-of-Stake consensus algorithm. It already has the superior and decentralized PoW. See how durable and impregnable the blockchain ledger is for the last 12 years? Still cannot be hacked, the security itself underlines the effectivity of PoW as very much strong and cannot be manipulated .

[slaman29]

My bet on this is Bitcoin will never ever go to Proof-of-Stake consensus algorithm. It already has the superior and decentralized PoW. See how durable and impregnable the blockchain ledger is for the last 12 years? Still cannot be hacked, the security itself underlines the effectivity of PoW as very much strong and cannot be manipulated .

I'd bet on it too but the payout is probably peanuts. PoW has worked well for Bitcoin, nothing even comes close in terms of security, still the most important thing for anyone who wants to use Bitcoin to pay and keep value.

At the same time block rewards are still going to be very good at these prices even for the next 2 halvings so that is at least 8 years more if not 12 years with no issue.

[LogitechMouse]

I'm thinking of any reasons for Bitcoin to move from POS to POW but I can't think of any (or its just because I don't want to think anymore ).

I don't also think that it will do what ETH did too. Moving from POW to POS. Bitcoin is a decentralized currency unlike Ethereum that is being owned by Vitalik so moving it from POS to POW requires many, many and many people that will agree into it. To cut it, it will never happen .

[n0nce]

Will Bitcoin move to proof of Stake? Does anyone know? What are the developers opinions on this matter?

Nope, it won't - that's one reason why we like BTC so much  

If anyone or the team can modify the protocols, it leaves doubt to investors that its not decentralize.

You can check Bitcoin's open source code: https://github.com/bitcoin/bitcoin
As you can see, there are currently 819 contributors, meaning Bitcoin does get modified by various developers, here are the BIPs that have been proposed and implemented over the years: https://github.com/bitcoin/bips/.
However: any change that is added to the code must be backed by the decentralized node and miner community. Since nodes independently 'vote' which blocks and transactions are accepted, they can thus essentially refute a BIP for example. So without the support of majority of the network, developers can't change Bitcoin BTC.

There was no news about this. Moreover I think that Bitcoin is not developing any more, so it is doomed to be unchangeable. When some people say that they want Bitcoin to be greener they don't mean Proof-Of-Stake, they are talking about renewable energy for mining. Moreover, you can look at Ethereum, it is a long-long process that has not finished yet and we are still waiting for Ethereum 2.0.

As explained above, Bitcoin does develop, check the GitHub and version history: https://bitcoincore.org/en/releases/.
Please don't spread misinformation if you are unsure about something.

[Leviathan.007]

Nothing is completely impossible in this world but in the current situation, I can strongly say bitcoin will not move or adapt to proof of stake and there are many logical and non-logical reasons for it. It's just like you say when the earth will turn in the opposite side direction and impossible in the current situation. However, since bitcoin is available on GitHub and anyone can take a fork from it there can be many other pos versions of bitcoin forked from the original version.