The one word no one wants to hear "Regulation".
More decentralization means 'less regulation'. 
Topic: Could/should we change the protocol to restrict the market share of mining pool? - page 2. (Read 2359 times)
November 17, 2013, 10:13:46 PM
November 17, 2013, 09:46:38 PM
The one word no one wants to hear "Regulation".
November 17, 2013, 09:28:30 PM
One of the main reasons why people love BTC is that they think BTC is democratic and nobody can damage it since it is protected by millions of users. Call me stupid if you want cause I feel quite unconformable now when I realized just 3 to 5 persons (the operators of BTCGuild, GHash, Eligius, BitMinter, and Slush. See https://blockchain.info/pools) can effectively damage the who ecosystem.
One example is the current proposal of Luke Jr (see https://bitcointalksearch.org/topic/miners-time-to-deprioritisefilter-address-reuse-334316). Yes, this time that patch may be not so harmful and you happen to side with Luke. But eventually you may disagree on other more serious issues but you have to put all your trust on that 3 to 5 operators.
Could we do something in the protocol, so that no mining pool could exceeds 5% of the market share and bring back BTC to be real decentralized again?
One example is the current proposal of Luke Jr (see https://bitcointalksearch.org/topic/miners-time-to-deprioritisefilter-address-reuse-334316). Yes, this time that patch may be not so harmful and you happen to side with Luke. But eventually you may disagree on other more serious issues but you have to put all your trust on that 3 to 5 operators.
Could we do something in the protocol, so that no mining pool could exceeds 5% of the market share and bring back BTC to be real decentralized again?
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