"machine enforced plutocratic system where early adopters and syndicates have absolute power"
Also applies to, e.g. USD spent on amazon, casting votes in bipartisan elections, paying taxes, etc.
It is a fundamental aspect of modern capitalist organization of wealth. It is worth assessing the rate at which it is being concentrated, which for USD is a historically unprecedented rate.
Let me know when ETH gives interest-free borrowing, debt forgiveness, bankruptcy bailouts, years of quantitative easing, 10x leveraging of capital etc. but only for the richest 100 or so ETH holders...
It's easy to believe in M1 and even M2 USD, but when you look at M3 and FR policy driving continuous unending inflation, I think you'll find proof-of-stake to be Robinhood level egalitarian by comparison.
Btw you can stake less than 32 eth on plenty of services.
I don't know what you are trying to say here, but know this:
ETH and USD are not comparable. The US Government secures real-world business operations themselves, while cryptocurrencies merely secure payments.
Who pays the price of USD inflation? It's largely not Americans. It's a net transfer of wealth from the satellite economies (that the USA secures through its military presence) to the USA. Not to mention, (an appropriate amount of) inflation promotes actual spending.
Cryptocurrencies are not economies, they are merely payment networks. They should be useful as payment systems. They should primarily serve to provide value to those using them as payment systems, not investors, developers, inside traders, stakers, miners, or any other middleman. The moment that it's more favorable to become a middleman than to use cryptocurrency for it's intended purpose is the moment that the dynamics of the system switch from payment network to ponzi scheme.
Cryptocurrencies SHOULD NOT favor early investors. They SHOULD have inflation in the form of a block reward, which ensures the security of the network for those that USE cryptocurrency at the cost of those who merely OWN it.
Also applies to, e.g. USD spent on amazon, casting votes in bipartisan elections, paying taxes, etc.
It is a fundamental aspect of modern capitalist organization of wealth. It is worth assessing the rate at which it is being concentrated, which for USD is a historically unprecedented rate.