Yup, power remains with the ability to control the larger payout.
-
-
2/ That logic also doesn’t factor in the possibility of solving mining variance *without using pools*, e.g., thru external means such as financial hedges. See my thread on the topic of variance - finding blocks is not the only type of variance.https://twitter.com/hugohanoi/status/1004875566477004800 …
-
3/ Pool architecture dominates mining today, which means the majority of mining traffic is unauthenticated. How is adding authentication not a security improvement?
-
4/ Can you elaborate RE: latency? Traditional pools rely on one single getblocktemplate() service to divide the work between all miners. Eliminating this bottleneck at least gets rid of one type of latency.
-
5/ Bottom line is even if it’s possible to solve mining variance thru something like
#braidpool, it doesn’t mean we can’t pursue both approaches. Especially given that#braidpool is still highly experimental. -
Ignore
@evoskuil, he loves to throw shit on stuff by ignoring all the practical effects, and mostly not even bothering to do research. -
Now now kids, we can all get along.
-
Man this sure blew up


-
Not for me... shit-tons of tweets just disappeared :).
End of conversation
New conversation -
-
-
Because it would destroy confidence in the system. https://en.m.wikipedia.org/wiki/Ghash.io
-
Precisely, so you can say that there is a natural force against pool monopoly - pools don't want to kill their golden goose. Even better if pools are forced to show their hands in the open, which is what BetterHash could do.
-
It's a political solution to a computer science problem.https://twitter.com/BobMcElrath/status/1005921429840375808?s=19 …
-
I would also love to just stay in the realm of computer science - but the fact is that Bitcoin is half-political in nature
Decentralization needs active human participation. -
Unless a computer science solution is proven to NOT exist, we shouldn't compromise in the name of expediency.
-
Agreed! But this argument doesn’t apply here since a/ Bitcoin is a live, 100-bil-dollar network running in production & b/ pool mining centralization is *already* the political reality. BetterHash will improve on the status quo, not making things worse. It’s highly practical.
-
Now if
#braidpool is proven to work & we’re launching Bitcoin tomorrow, it’ll be a different story
End of conversation
New conversation -
-
-
Because there is a declining advantage to having greater than 50%. At 100% there is no advantage whatsoever. It makes not more assumptions than are in place for existing pool operations.
Thanks. Twitter will use this to make your timeline better. UndoUndo
-
Loading seems to be taking a while.
Twitter may be over capacity or experiencing a momentary hiccup. Try again or visit Twitter Status for more information.
