David Hoffman (Bankless) on Everything About the Merge (EP.349)
On The Brink with Castle Island
Stakers vs Miners
Ike: comparing stakers with miners, like a key assumption you're relying on is that basically, stakers wouldn't behave similarly to miners. In proof of stake, the thing is completely inverted, where you are actually in a competition to be more bullish than your fellow stakers. The more, the more total ether becomes staked, the yield comes down and so people will start to play chicken with each other as if they never want to sell their stake. Ike: People are so fundamentally long on ether that they'll take the lower and lower yields and not unstake.
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