Topic: Am I the only miner who feels disgusted by the talk of PoW change? - page 2. (Read 6177 times)

Electricity rates don't centralize mining, infact the difficulty of gpu mining can't be centralized , even if you have the large investment budget you can't setup a gpu mining farm like what we see in asics farms , gpu is the best and most healthy mining requires alot of effort,handling and experience , not just a plug and play , some hardware knowledge and calculations is required , and i wish bitcoin can be gpu minable again.

Electricity rates don't centralize mining, infact the difficulty of gpu mining can't be centralized , even if you have the large investment budget you can't setup a gpu mining farm like what we see in asics farms , gpu is the best and most healthy mining requires alot of effort,handling and experience , not just a plug and play , some hardware knowledge and calculations is required , and i wish bitcoin can be gpu minable again.

no they are not as efficient as cpu aws instances, they are far worse, inf act you don't see it often used, instead aws instaces are perfect for cpu coin, but they will centralized the hashrate too much and kill the coin

Well, is a GPU coin also bad then? A random dude can use AWS GPU instances to own a large amount of hash in no time.
https://aws.amazon.com/ec2/Elastic-GPUs/

LMAO I don't think it works like you guys think it does   

https://i.imgur.com/urEk9do.jpg

Well, is a GPU coin also bad then? A random dude can use AWS GPU instances to own a large amount of hash in no time.
https://aws.amazon.com/ec2/Elastic-GPUs/

cpu coin are also bad, and worse than asic, because a random dude could use aws instances to own a large amount of hash in no time and centralized the mining activity

You're first mistake was going to /r/bitcoin and expecting something coherent. Stay away from that place. It is nothing but garbage. If you really want to stick to reddit, go to /r/btc.

Its was far more disturbing when asics first came online, i regret that pow change didnt happen in start. I know a lot of people have they money
in asics and for that reason dont want algo change, but as it is, whole bitcoin community is in the hands of few asic producers, which is one of the worst scenarios possible.

If we could restart, how would you change it to prevent centralization? Centralization is largely due to low cost power, ASIC's and access to ASIC's aside.

Its was far more disturbing when asics first came online, i regret that pow change didnt happen in start. I know a lot of people have they money
in asics and for that reason dont want algo change, but as it is, whole bitcoin community is in the hands of few asic producers, which is one of the worst scenarios possible.

That certainly would be a problem with a substantial size increase, but there is another more immediate problem even at only 2MB blocks - the quadratic sighash scaling problem. It's possible to DoS the network with transactions that are very heavy handed in input/outputs for their size leading to block verification that can take a very long time to complete. The 1MB block that took 25 seconds to verify a while back on fast hardware was an example of that in action at only 1MB blocksizes. The code that does the verification is much more efficient now but still would have taken 11 seconds to verify. Double the size of that and you have a block that takes almost 45 seconds to verify. 6MB blocks and you have blocks that can take longer than the average time between blocks of 10 minutes. Slower hardware would hit that limit at even smaller block sizes. Segwit transactions scale linearly with signature hashes so 1MB of signatures for segwit transactions are a lot faster than 1MB of normal transactions, and linearly for 4MB of transactions, which is the maximum possible allowed with segwit as currently coded. That 4MB of transactions would take less than 1MB of normal transactions to verify. Note that most blocks are NOT that sighash heavy but the fact remains that it is a mechanism to DoS the network.

I think POW will never work for crypto coins.


edit

fucked up POS WILL NEVER WORK

the problem is that LN alternative are also centralized with their HUB, at least from what i understood, it seems that you can't preserve the current decentralization if you want to fix the block limit/scaling issue

if they cna coem up with something better would be better but there is no time anymore, now the choice is based on what is less worse, not on what is ideal

My understanding after 6 months involved in the space is that bigger blocks lend towards greater centralization due to increased costs of running nodes etc (storage, bandwidth).

For this fact alone I would never support a block size increase if there were other viable options available.