Will the new #ethereum proof-of-stake mechanism create a Bank of America of Crypto and a Digital Wells Fargo that will eventually control the system?
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@admin they can use their money to buy coins and corner their market with proof of stake.. they can use their money to buy miners and corner the market with proof of work... either way they can corner the market with a financial investment if they wish.
@freemo Today though, I understand, the mining of new coins is entirely decentralized but with proof of stake the question that was asked of me was ... doesn't this mean whales could corner the market on all new coins and with it the control the network. The incentive is there.