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Topic: What happens when major banks become supernodes? - page 2. (Read 1926 times)

legendary
Activity: 2394
Merit: 1216
The revolution will be digital
-snip-
By node, OP probably mean miner.

Soooo whats a "Superminer"?

A big pool owner like GHash.IO is a super miner Cheesy
copper member
Activity: 1498
Merit: 1528
No I dont escrow anymore.
-snip-
By node, OP probably mean miner.

Soooo whats a "Superminer"?
legendary
Activity: 2394
Merit: 1216
The revolution will be digital
What exactly do you mean by a supernode? Never heard of the term...
If you're talking about the banks having a crap ton of nodes I don't really see an issue so long as there are a reasonable number of other nodes so that there is no foul play with transaction exclusion. But really it's unlikely that the banks will bother with large amounts of nodes - they only serve to relay and confirm transactions as legitimate.

A bank running a lot of nodes would be like a bank providing services for the competition for free.  Unless that bank makes money off bitcoin in some other way it does not make sense.
Exactly. People don't understand that running a bunch of nodes doesn't gain you access to oodles of free money the same way fractional reserve banking does. Bitcoin strips the power from banks and gives it to We the People.

Banks will want no part of it until they're left with no customers and no choices, and then they'll capitulate.

By node, OP probably mean miner.
hero member
Activity: 784
Merit: 1000
https://youtu.be/PZm8TTLR2NU
What exactly do you mean by a supernode? Never heard of the term...
If you're talking about the banks having a crap ton of nodes I don't really see an issue so long as there are a reasonable number of other nodes so that there is no foul play with transaction exclusion. But really it's unlikely that the banks will bother with large amounts of nodes - they only serve to relay and confirm transactions as legitimate.

A bank running a lot of nodes would be like a bank providing services for the competition for free.  Unless that bank makes money off bitcoin in some other way it does not make sense.
Exactly. People don't understand that running a bunch of nodes doesn't gain you access to oodles of free money the same way fractional reserve banking does. Bitcoin strips the power from banks and gives it to We the People.

Banks will want no part of it until they're left with no customers and no choices, and then they'll capitulate.
sr. member
Activity: 362
Merit: 262
What exactly do you mean by a supernode? Never heard of the term...
If you're talking about the banks having a crap ton of nodes I don't really see an issue so long as there are a reasonable number of other nodes so that there is no foul play with transaction exclusion. But really it's unlikely that the banks will bother with large amounts of nodes - they only serve to relay and confirm transactions as legitimate.

A bank running a lot of nodes would be like a bank providing services for the competition for free.  Unless that bank makes money off bitcoin in some other way it does not make sense.
hero member
Activity: 742
Merit: 502
Circa 2010
What exactly do you mean by a supernode? Never heard of the term...
If you're talking about the banks having a crap ton of nodes I don't really see an issue so long as there are a reasonable number of other nodes so that there is no foul play with transaction exclusion. But really it's unlikely that the banks will bother with large amounts of nodes - they only serve to relay and confirm transactions as legitimate.
sr. member
Activity: 249
Merit: 250
Will this be a good thing?  Adapt and survive right?
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