system
A chat on subreddit /r/pcmasterrace
human
Can I get an ELI5 of what that means/meant?

E: Probably shouldn't have said ELI5. I have a rough knowledge of how mining is and how you are being rewarded for verifying transations on the blockchain, just not how proof of stake changed things.
gpt
Instead of proving you can do the work, you now prove you have the money.

Basically, in the past, using electricity to run operations was king. But now, just having money is king. (Which was already king because you had to buy the machines that did the work).

But hey, at least now you only have to have money to make more money.

And then the crypto marked imploded and everyone was happy.