Cardano Guy Says Turn Off Bitcoin

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In this video, I discuss Charles Hoskinson's proposal to shut down Bitcoin mining and move all existing BTC to other crypto networks in the form of wrapped Bitcoin (WBTC).

This is, of course, a terrible idea as it would neuter many of Bitcoin's key strengths as a bearer asset that can be sent to anyone in the world, without having to ask permission or deal with censorship.

By contrast, proof of stake networks like Cardano and Ethereum have given up control of the protocol to insiders, early beneficiaries of the pre-mines, as well as to large staking pools that are run by regulated large corporations.

These groups can actively censor addresses and transactions at the protocol level-- especially if required to do so by regulators or law enforcement.

Capital that is staked on networks like Cardano is capital that is not being used to invest in new solar panels, wind turbines, or nuclear power plants.

Not investment advice! Consult a financial advisor.

Disclaimer: I don't know Charles Hoskinson personally. I'm sure that he's a great guy in real life. Everything that I know about him has been taken from widely available public sources on the internet. I don't know if these allegations are true, or not-- so do your own research and come to your own conclusions.

Bitcoin is good for the environment:
https://www.youtube.com/playlist?list=PL7w04GVKPitFDpZrzSkjokm6Sm3NsxwBJ

Charles Hoskinson's thought experiment:
https://www.youtube.com/watch?v=CWSUatgdd5U&ab_channel=CharlesHoskinson

BitGo:
https://www.bitgo.com/

Hoskinson may be making a fortune from staking ADA:
https://mobile.twitter.com/coryklippsten/status/1433661082967547908

Initial token allocations for public blockchains:
https://miro.medium.com/max/1200/1*TayypeN1nRVdmikXjuy4hA.png

This book says mean things about Charles:
https://books.google.com/books?id=QEb8DwAAQBAJ&pg=PA166&lpg=PA166&dq=%22charles+hoskinarles+hoskin..