That's true, but pools have always had this power. I wouldn't say BetterHash "shifts the point of centralization". It's still the same point. What it'd do is potentially reducing pools' power - an improvement over the status quo. That is worth something.
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3/ Pool architecture dominates mining today, which means the majority of mining traffic is unauthenticated. How is adding authentication not a security improvement?
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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.
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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.
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Man this sure blew up


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Not for me... shit-tons of tweets just disappeared :).
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People selecting their own blocks and solving for variance using financial instruments is not a change, so this is a red herring. There is a cost to hedging, and that's your increased cost of capital that is the variance discount.
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There's always a cost for hedging against variance. Doesn't matter if it's thru technical means or other means. I don't think it can come for free.
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Maybe it cannot be eliminated, but shifting the cost is not "solving mining variance".
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One thing we're discussing for
#braidpool is that it could be structured with a cross-chain atomic swap on Lightning shares-for-BTC, which would allow a market for instant payouts and market-based variance reduction. Unfortunately the maturation time for mining is only 100 blocksThanks. Twitter will use this to make your timeline better. UndoUndo
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