This is fantastic.
Giving individual miners the tools they need to avoid centralized decision-making on what transactions they mine is excellent.
I'm sure Jihan Wu will have a few fits about this - just like covert Asicboost - but we're used to that kind of push-back from his monopolist mindset.
Cheers to Matt for devising a way to keep the users in control, not ham-fisted centrists.
Topic: [2018-07-03] ‘Miners Are Miners Again’: Bitcoin Core Dev Launches Alternative (Read 155 times)
July 05, 2018, 10:27:28 AM
July 04, 2018, 12:39:07 PM
Bitcoin core developer Matt Corallo has launched a mining pool which aims to increase decentralization as Bitcoin mining becomes increasingly monopolized.
Full article on Bitcoinist
That's a very good initiative and awesome news to hear. I really would wish all those Bitcoin haters to read this and know that Bitcoin is even getting better. Kudos to te Bitcoin Core developer for this Full article on Bitcoinist
July 04, 2018, 08:39:11 AM
Strongly supportive of this move, everything that can be done (whether at the protocol level or in the commercial arena) to decentralise mining is welcome. There hasn't been any meaningful disruption to the consolidation of the mining market up till now, hopefully this is the beginning of that trend reversing.
July 04, 2018, 12:36:32 AM
Unfortunately there needs to be a proper scare before people start taking this type of thing seriously. Miners are just as lazy as everyone else it seems. The noble alternatives rarely get taken up unless there's a very compelling reason to do so.
We had had a few scares before, but once it passes nobody pays attention again. This seems to be a good idea - you contribute to the pool with maximum hashing power, so that the chances of you getting a share of the block reward is maximised. At the same time, the mining pool doesn't have the power to carry out a malicious attack.
July 03, 2018, 07:07:04 PM
For honest miners who have invested a lot of resources in their operations and are viewing Bitcoin as a long-term business, it should make a lot of sense to use pools like these that are guaranteed to not be used against Bitcoin. But if established miners offer better fees or other advantages that translate directly into profits, than it shouldn't be surprising that most miners will choose them, because the nature of this business is very marginal. And lets not forget that Bitmain can use their influence to force miners into using their pools.
July 03, 2018, 06:18:48 PM
This is great news! I hope that every hasher demands it and every mining pool switches over.
I think ghash.io demonstrated to everyone what happens when you go over 50%.
Who is ghash.io? Exactly.
Unfortunately there needs to be a proper scare before people start taking this type of thing seriously. Miners are just as lazy as everyone else it seems. The noble alternatives rarely get taken up unless there's a very compelling reason to do so.
I think ghash.io demonstrated to everyone what happens when you go over 50%.
Who is ghash.io? Exactly.
July 03, 2018, 01:39:32 PM
Unfortunately there needs to be a proper scare before people start taking this type of thing seriously. Miners are just as lazy as everyone else it seems. The noble alternatives rarely get taken up unless there's a very compelling reason to do so.
July 03, 2018, 01:18:44 PM
Bitcoin core developer Matt Corallo has launched a mining pool which aims to increase decentralization as Bitcoin mining becomes increasingly monopolized.
Full article on Bitcoinist
Full article on Bitcoinist
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