Will Bitcoin Embrace Staking or Stay True to Proof of Work?

[Lexandroove]

NGL, up until this point, Bitcoin staking has stayed a dilemma, with the coin still not being stakable natively because of its Proof-Of-Work mechanism. One thing we can’t argue against, however, is that there have been drastic changes to how Bitcoin yield is generated.
Stacks is one platform that several sights have been on for a while now, with its roadmap indicating its move to soon launch a Bitcoin staking system that aims to increase Bitcoin's utility and drive demand for its native token. Bitcoin Layer2s such as Babylon Labs are also showing their effects in integrating staking functionalities directly with the network, enabling users to participate in securing decentralised finance applications and earning opportunities without compromising the network’s security integrity.
The recurring question for me is: are we in a position to soon witness a fundamental shift in Bitcoin’s structure towards a staking-intensive model, or will staking on the network only be treated as an afterthought?

[Oshosondy]

There is no signs that bitcoin will move to staking. Coins like ethereum easily moved to staking because of the influence of its developers which makes the coin to be centralized.

If there is a sign that bitcoin is moving or might move to PoS, we are going to discuss about it, but that is not happening for now.

[tbct_mt2]

The recurring question for me is: are we in a position to soon witness a fundamental shift in Bitcoin’s structure towards a staking-intensive model, or will staking on the network only be treated as an afterthought?

Proof of Work is a thing to stay with for Bitcoin blockchain, miners, nodes and community. Bitcoin blockchain is not only Proof of Work but also a very strong one, a strongest and most secure PoW blockchain with highest hashrate, most decentralization, no censorship.

Moving to Proof of Stake will be a mess like what Ethereum has faced with. Ethereum even as a PoW blockchain was already smaller and weaker than Bitcoin blockchain, and the migration from PoW to PoS only makes that blockchain weaker in security, less decentralization, easily censored.

How stronger Bitcoin blockchain compares to other PoW blockchains, see
https://howmanyconfs.com/

[Natalim]

There is no signs that bitcoin will move to staking.

I also think it will probably never happen because shifting Bitcoin to Proof of Stake would mean changing the whole system, not just making a minor update.

Thats also one reason Bitcoin is still the king for many people. It has stayed with Proof of Work and kept the same basic security model from the beginning. I really dont see that changing in the future.

But its still good to discuss these things. At least people can share different opinions, and newbies can learn more about how Bitcoin actually works.

[Upgrade00]

NGL, up until this point, Bitcoin staking has stayed a dilemma, with the coin still not being stakable natively because of its Proof-Of-Work mechanism. One thing we can’t argue against, however, is that there have been drastic changes to how Bitcoin yield is generated.

Bitcoin opted for the most secure algorithm option from the jump and has no reason to consider a shift to another.
There has been no drastic change on bitcoin, just platforms interacting with it in different ways.

The recurring question for me is: are we in a position to soon witness a fundamental shift in Bitcoin’s structure towards a staking-intensive model, or will staking on the network only be treated as an afterthought?

No, there has never been a consideration in the bitcoin community to hybrid into a different algorithm, not even as an afterthought.

[Moreno233]

Staking is mostly possible in coins that are centralised like ETH and the others although there are a few exception to this. Like you rightly stated, Bitcoin does not encourage staking because of PoW model it uses and for the fact that there is no central single authority in Bitcoin unlike other coins. Hence, for there to be a change in protocol,  it has to be through consensus which I don't see happening in Bitcoin.

[Cookdata]

Bitcoin Layer2s such as Babylon Labs are also showing their effects in integrating staking functionalities directly with the network, enabling users to participate in securing decentralised finance applications and earning opportunities without compromising the network’s security integrity.
The recurring question for me is: are we in a position to soon witness a fundamental shift in Bitcoin’s structure towards a staking-intensive model, or will staking on the network only be treated as an afterthought?

Bitcoin will not transition to proof of stake because it will not, and there is no reason to do that. You see these staking companies, they are business people looking for something to show that they are working, so they can launch their coins. This Babylon, I did test their platform from the beginning of their testnet with some signet coins, launched their token, got some airdrop allocation, and that was the last time, same as others. The staked Bitcoins are mostly from institutional investors and some private investors, there is no reason to stake your coins for an insignificant yield with risk of hack.

Staking Bitcoin does not make any sense, maybe to proof of stake network, but it will never make any sense for a coin that is proof of work. Most of the staking platforms are exploited every day, and no one bears the consequences or compensation. It's better to keep coins in your wallet than do staking. I'm even more surprised by centralised exchanges that offer the same services when they can focus on trading related services.

[JollyGood]

Just to stay on topic, I will state the following. There is no evidence nor serious discussion between the main developers about Bitcoin being altered in the manner you have alluded to.

Having said that, your account has come to my attention. There is absolutely no way that a real newbie wrote that post. When I see certain telltale signs, I can only conclude there is something else going on. The post was designed to seem as though it was made someone new to the forum but we both know that is not the case.

NGL, up until this point, Bitcoin staking has stayed a dilemma, with the coin still not being stakable natively because of its Proof-Of-Work mechanism. One thing we can’t argue against, however, is that there have been drastic changes to how Bitcoin yield is generated.
Stacks is one platform that several sights have been on for a while now, with its roadmap indicating its move to soon launch a Bitcoin staking system that aims to increase Bitcoin's utility and drive demand for its native token. Bitcoin Layer2s such as Babylon Labs are also showing their effects in integrating staking functionalities directly with the network, enabling users to participate in securing decentralised finance applications and earning opportunities without compromising the network’s security integrity.
The recurring question for me is: are we in a position to soon witness a fundamental shift in Bitcoin’s structure towards a staking-intensive model, or will staking on the network only be treated as an afterthought?

[Lexandroove]

The recurring question for me is: are we in a position to soon witness a fundamental shift in Bitcoin’s structure towards a staking-intensive model, or will staking on the network only be treated as an afterthought?

Proof of Work is a thing to stay with for Bitcoin blockchain, miners, nodes and community. Bitcoin blockchain is not only Proof of Work but also a very strong one, a strongest and most secure PoW blockchain with highest hashrate, most decentralization, no censorship.

Moving to Proof of Stake will be a mess like what Ethereum has faced with. Ethereum even as a PoW blockchain was already smaller and weaker than Bitcoin blockchain, and the migration from PoW to PoS only makes that blockchain weaker in security, less decentralization, easily censored.

How stronger Bitcoin blockchain compares to other PoW blockchains, see
https://howmanyconfs.com/

I know, right? Bitcoin’s Proof-Of-Work model isn’t likely to get altered, especially not by the PoS. My point wasn't that Bitcoin should or will migrate to PoS as Ethereum did, but that we're seeing an ecosystem of Layer 2s and protocols experimenting with ways for BTC holders to earn yield while keeping the base layer unchanged. To phrase it better, the question is whether these staking-like mechanisms will become a major part of Bitcoin's economy or remain niche services built on top of Bitcoin, rather than changes to the network itself

[LogitechMouse]

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The recurring question for me is: are we in a position to soon witness a fundamental shift in Bitcoin’s structure towards a staking-intensive model, or will staking on the network only be treated as an afterthought?

While there are no specific number into this one, in order for a big change to be implemented on Bitcoin, there are certain groups of people/entities who needs to agree into one specific thing and in this case, it's staking. Not all could agree into it, but they can't force anybody to use it as well. If somebody wants to stake Bitcoin, they'll just make a fork of it.

The big questions with this one are "Will the miners agree to it?" and "Will the node operators agree into it?". Also, are the core developers of the coin agrees to it which is for me I don't think so. Another question is that what will the investors prefer? The Bitcoin that they used to see over the course of a decade? Or another forked version of it? We saw BCH and BSV as Bitcoin forks, but it didn't gain much traction. So in short, nope this will not happen, and mainly it's because the miners will surely lose their business, and I don't see the core developers agreeing into it as well.

No one in the community sees this or even like this to happen TBH... or are they?

[JollyGood]

I have tagged your account with neutral trust.

You skipped past my post but can always reply: https://bitcointalk.org/index.php?topic=5590638.msg67020466#msg67020466

~

[CryptopreneurBrainboss]

The recurring question for me is: are we in a position to soon witness a fundamental shift in Bitcoin’s structure towards a staking-intensive model, or will staking on the network only be treated as an afterthought?

Bitcoin embracing staking defeats the whole purpose of real decentralization and that doesn't suit well with the ideology behind creating Bitcoin by Satoshi. Take a look at most of the coins that have adopted the staking algorithm, have they been truly decentralized and that'll tell you exactly what'll happen to Bitcoin if its gets adopted. Most people pushing for this are those looking to benefit from the staking rewards because of the thousands of Bitcoin under their control and this isn't going to look good for the industry. I don't buy into the idea of giving up control of my Bitcoin just because of some peanuts I'm being promised as I'm comfortable with the capital gains I already get by only HODLing my coins in my own wallets.

[Dr.Bitcoin_Strange]

Bitcoin Layer2s such as Babylon Labs are also showing their effects in integrating staking functionalities directly with the network, enabling users to participate in securing decentralised finance applications and earning opportunities without compromising the network’s security integrity.
The recurring question for me is: are we in a position to soon witness a fundamental shift in Bitcoin’s structure towards a staking-intensive model, or will staking on the network only be treated as an afterthought?

For your better understanding, what Babylon Lab is trying to do in not to alter Bitcoin network and make it become a proof of stake, as a matter of fact, they can not change the consensus mechanism of Bitcoin and there's no way Bitcoin will be changed to proof-of-stake, it will remain proof-of-work, what Babylon Lab is doing is to build their idea on top of Bitcoin but not changing the technology's consensus mechanism.

Previously, if you want to stake your Bitcoin, you can do that by depositing your coins to an exchange or to any centralized platform, meaning that the coin is not in your custody (not your key, not your coin), while your coins in being locked in a centralized platform, they give you small interest yield, right?

Now, what Babylon Lab intend to do is to enable a Bitcoin holder lock their coin (in form of staking) in their own custodial wallet, while the protocol verifies that the coin is locked and then it serves as collateral in Defi applications and also on-chain collateral for proof-of-stake networks. So, this would be done without centralized custodian platforms and without bridging or wrapping Bitcoin.

This is not in anyway suggesting that Bitcoin network is being changed to proof-of-stake and the company that's trying to develop this can not also force anyone to use the service they provide.

[sunsilk]

It's been in the subject for so long and  I don't think that there will be a consensus about bitcoin becoming a proof of stake.

That will sacrifice the security of it and is anyone going to like it? maybe the whales will do but majority of us won't.

When nothing is broken, there's no need for any changes or fixes at all.

[pooya87]

NGL, up until this point, Bitcoin staking has stayed a dilemma,

How did you come up with that conclusion?!!!
PoS is not even considered as a viable choice for it to be a dilemma!

with the coin still not being stakable natively because of its Proof-Of-Work mechanism.

Wrong. It is not considered because Proof of Stake is a fundamentally flawed protocol that doesn't work and meanwhile Proof of Work is a fundamentally strong protocol that is working fine so there is no need to seek a replacement.

One thing we can’t argue against, however, is that there have been drastic changes to how Bitcoin yield is generated.

No there has not not been any drastic change, it's pretty much the same as it has always been: block subsidy + fees.

Stacks is one platform that several sights have been on for a while now, with its roadmap indicating its move to soon launch a Bitcoin staking system that aims to increase Bitcoin's utility and drive demand for its native token.

Some centralized service offering people interest on the money they hand over to that service is not considered "increasing bitcoin's utility". It is categorized as yet another centralized business trying to make money.

Bitcoin Layer2s such as Babylon Labs are also showing their effects in integrating staking functionalities directly with the network,

I have to research what that is but these things are not "integrating directly into bitcoin" they are separate networks that usually have nothing to do with Bitcoin even if they are linked to it somehow (like through pegs or something similar).

The recurring question for me is: are we in a position to soon witness a fundamental shift in Bitcoin’s structure towards a staking-intensive model, or will staking on the network only be treated as an afterthought?

No we are not. But by coming up with weird ideas many will try to come up with opportunities to make profit though...

[JeffBrad12]

Proof of Stake is free voting power for institutional that hold millions of bitcoin on behalf of their customers, this idea is insanity. If they ever have the power to vote for change, shitty idea like freezing legacy address' bitcoin will be a thing and get voted through consensus.

Bitcoin already have yield built into the coin if that's what you sought after, the 21m hardcap for total supply is better yield than ethereum staking could ever be. it don't need to change the entire blockchain for like what...2% APR ?