Any form of centralized mining is a bad idea as we have found out with ghash getting near 51%
Not sure if p2pool is the answer, but we need something.
Topic: Is it possible to put everyone in a single large mining pool? (Read 1786 times)
Yes, it's even possible for the network to remain decentralized: https://en.bitcoin.it/wiki/P2Pool
(Althoug, basically with P2Pool everyone is solo mining and just shares the rewards)
Everyone mining on p2pool would be the same as solo mining at 1/60th of the actual Bitcoin network difficulty which is still really high.(Althoug, basically with P2Pool everyone is solo mining and just shares the rewards)
I'm assuming the stale share rate would also significantly increase.
Both can be fixed with implementations like this: https://miner.ecki.net:444/
("Real" Pool, that mines against P2Pool, don't know if still active)
Yes, it's even possible for the network to remain decentralized: https://en.bitcoin.it/wiki/P2Pool
(Althoug, basically with P2Pool everyone is solo mining and just shares the rewards)
Everyone mining on p2pool would be the same as solo mining at 1/60th of the actual Bitcoin network difficulty which is still really high.(Althoug, basically with P2Pool everyone is solo mining and just shares the rewards)
I'm assuming the stale share rate would also significantly increase.
Yes, it's even possible for the network to remain decentralized: https://en.bitcoin.it/wiki/P2Pool
(Althoug, basically with P2Pool everyone is solo mining and just shares the rewards)
(Althoug, basically with P2Pool everyone is solo mining and just shares the rewards)
The whole point of bitcoin is to be a decentralized currency, and now you are suggesting to centralize it?
December 29, 2013, 10:13:08 PM
it would be boring as f%*$. the only reason people keep up this charade is they *think* they could beat the odds and get that 25 BTC faster.
What charade? Running solo?
it would be boring as f%*$. the only reason people keep up this charade is they *think* they could beat the odds and get that 25 BTC faster.
Yes, it is possible. Is it likely? No, not at all.
Is it possible to put everyone in a single large mining pool, and share mining reward equally among miners based on hash power and shares.
No, because not everyone wants to be controlled by a pool - "single mining"
Well assuming even if the impossible happened and every pool miner switched to the same pool, we would still have solo miners who wouldn't be apart of the pool.
Excellent point! As long as there's as least 51% of solo miners all is well.
Why should we trust pool operators? Can distribute this trust among miners?
Well assuming even if the impossible happened and every pool miner switched to the same pool, we would still have solo miners who wouldn't be apart of the pool.
Is it possible to put everyone in a single large mining pool, and share mining reward equally among miners based on hash power and shares.
Yes you can but you should also trust the mining pool owner
Why do you want to use a decentralized system in a centralized way? Think about it...
Yeah, it's this really big peer-to-peer pool called "bitcoin." 
Is it possible to put everyone in a single large mining pool, and share mining reward equally among miners based on hash power and shares.
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