[2019-08-08] Blockstream Reveals Massive Bitcoin Mining Facilities - page 2.

BitHodler

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Quote from: Carlton Banks on August 08, 2019, 06:51:52 PM

however well intended, the same company that sponsors Bitcoin developers also mining BTC is a conflict of interest. It's a good thing they're not the only organisation sponsoring developers, but I still would prefer that this had not happened.

I don't see any problems here. I like the fact that the 5-6 exahash they added lowers the dominance of Bitmain's mining pools, and this is just a start with how I expect Blockstream to keep increasing their hashrate.

All the anti Blockstream propaganda comes from the Bcash camp-- they do not control Bitcoin development nor have they ever done so. I wish them good luck with the future contributions they have in store for Bitcoin.

I have never tried Blockstream satellite, but when I have some free time and the right equipment, I'll see how it works and have a geek-out moment. They added LN support too so I'm kinda looking forward to it.

Kakmakr

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Quote from: Carlton Banks on August 08, 2019, 06:51:52 PM

however well intended, the same company that sponsors Bitcoin developers also mining BTC is a conflict of interest. It's a good thing they're not the only organisation sponsoring developers, but I still would prefer that this had not happened.

the BetterHash pool is a good counter balance however. Anything that helps decentralize the mining market adds to Bitcoin's strength, even if Betterhash is a modest move in that direction. This should push other pools into adopting Betterhash also.

With any luck, Blockstream will be totally incompetent or too naive to enter the mining business, and rolling out Betterhash will be all that remains of this story in the long term

Why would you see this as a conflict of interest? They are not getting any kind of advantage over their competition with their involvement in them funding the development. The source code for Bitcoin is Open source and everyone can scrutinize the code to see if they are adding something that would give them a unfair advantage. Roll Eyes

I think it is a good move to add to the decentralization of mining and also to support the hashing power and security of the technology that they working on.

1Referee

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Quote from: Carlton Banks on August 08, 2019, 06:51:52 PM

however well intended, the same company that sponsors Bitcoin developers also mining BTC is a conflict of interest.

I think that is what can and should be expected from a business with eye for profits. As much as I respect Blockstream for what they have done, I am glad that their 'dominance' in terms of developer commits has taken a massive dive. Most of the commits nowadays come from Chaincode Lab's developers.

I think the real bummer move from Blockstream's side was that they defended Tether while we all know how questionable their business model is. I'm pretty certain that the motivation behind that move was to protect their Liquid client.

Carlton Banks

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however well intended, the same company that sponsors Bitcoin developers also mining BTC is a conflict of interest. It's a good thing they're not the only organisation sponsoring developers, but I still would prefer that this had not happened.

the BetterHash pool is a good counter balance however. Anything that helps decentralize the mining market adds to Bitcoin's strength, even if Betterhash is a modest move in that direction. This should push other pools into adopting Betterhash also.

With any luck, Blockstream will be totally incompetent or too naive to enter the mining business, and rolling out Betterhash will be all that remains of this story in the long term

gentlemand

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https://www.forbes.com/sites/ktorpey/2019/08/08/blockstream-reveals-massive-bitcoin-mining-facilities-fidelity-an-early-customer/amp/?__twitter_impression=true

Here's an interesting one.

BlockstreamBorgAxaCore, your favourite lizards, have two giant mining facilities and two of their clients are Fidelity and Reid Hoffman. They account for about 7% of the entire hashrate at these difficulty levels.

Also planned is a mining pool that uses the Betterhash protocol which puts decisions back into the hands of miners rather than pool operators.

I had no idea they were planning this.

Topic: [2019-08-08] Blockstream Reveals Massive Bitcoin Mining Facilities - page 2. (Read 404 times)