What is this "Foundry USA" thing? | Bitcointalksearch.org

Faisal2202

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Quote from: ? on December 25, 2024, 01:14:43 PM

This pool actually makes me paranoid so that I registered an account to ask.
Is the destination of this pool to enhance control of USA government gradually?
Here are some related links I found about this pool.

The USA can't control the BTC only what they have mined can they can control that, thanks to RickDeckard for an amazing research on the pool. BTW OP, why do you think this pool is owned by government officials or why this pool is trying to take control of the BTC or BTC mining? I mean, what paranoid thing you saw, I don't get it.

Quote from: hd49728 on December 26, 2024, 10:36:36 AM

When governments require Bitcoin mining pools to KYC users (this case users are Bitcoin miners) and only accept submited, KYCed Bitcoin addresses for receiving Bitcoin mining rewards. It will help governments to have more traces on Bitcoin distributions and their citizen wealth.

Is this actually possible? I mean, they won't know if someone is mining or not until they notice a consumption of energy in some place and wonder to check it. Why would a person be forced to join such a pool, just like people are not forced to use KYC exchanges now, as they can use DEXs too? (It will be optional.)

hd49728

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Quote from: logfiles on December 26, 2024, 09:23:47 AM

Whether pro-crypto or not, they would still want to control most of the people's funds or portfolios. Maybe we shall stop hearing about bans or rumours of bans, but they will be pushing hard towards the regulation of the crypto industry.

With "regulation" they will now have a full say on how you mine, spend or trade your bitcoins among other things.

I agree that governments will try to do more regulations in future. If they could do it from no KYC centralized exchanges to KYC centralized exchanges, they can do the same with most of Bitcoin mining pools.

How about this future?

When governments require Bitcoin mining pools to KYC users (this case users are Bitcoin miners) and only accept submited, KYCed Bitcoin addresses for receiving Bitcoin mining rewards. It will help governments to have more traces on Bitcoin distributions and their citizen wealth.

logfiles

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Quote from: NotATether on December 26, 2024, 01:19:01 AM

By the way, this last part doesn't make much sense any more with the new pro-crypto administration incoming.

Whether pro-crypto or not, they would still want to control most of the people's funds or portfolios. Maybe we shall stop hearing about bans or rumours of bans, but they will be pushing hard towards the regulation of the crypto industry.

With "regulation" they will now have a full say on how you mine, spend or trade your bitcoins among other things.

Apocollapse

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Quote from: ranochigo on December 26, 2024, 06:48:53 AM

Donald Trump has stated that he hopes all of the future Bitcoin to be mined within the US. Would this statement still be positive for the crypto industry and what we stand for? In addition, would the recent stand that he takes still be positive for the Bitcoin mining industry in the US? Of course, discounting the fact that every one of them are just looking to rake it more profit.

Definitely it's bad because the US will own and control the real coins, in their custody, while they just sell the fake Bitcoin i.e. ETF version to the public. If at certain point the US have accumulated at least 90% of Bitcoin, the US technically almost control Bitcoin, having decentralized network become pointless.

Quote from: SilverCryptoBullet on December 25, 2024, 10:25:33 PM

There are attempts to censor Bitcoin transactions from Bitcoin Mining pool, Foundry USA.

Six OFAC-sanctioned transactions missing
Missing transaction observations.

Antpool never censor any Bitcoin transactions and the good thing they're the second biggest mining pool.

ranochigo

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Quote from: NotATether on December 26, 2024, 01:19:01 AM

Foundry is just a miner like any other.

Some people are suspicious of it because they don't usually make public comments like other miners do. Or maybe just because they are hard in the USA in general. By the way, this last part doesn't make much sense any more with the new pro-crypto administration incoming.

Agreed that Foundry probably has little to no government influence.
Just to iterate on your last point:
Donald Trump has stated that he hopes all of the future Bitcoin to be mined within the US. Would this statement still be positive for the crypto industry and what we stand for? In addition, would the recent stand that he takes still be positive for the Bitcoin mining industry in the US? Of course, discounting the fact that every one of them are just looking to rake it more profit.

NotATether

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Foundry is just a miner like any other.

Some people are suspicious of it because they don't usually make public comments like other miners do. Or maybe just because they are hard in the USA in general. By the way, this last part doesn't make much sense any more with the new pro-crypto administration incoming.

ranochigo

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Quote from: ? on December 25, 2024, 01:14:43 PM

This pool actually makes me paranoid so that I registered an account to ask.
Is the destination of this pool to enhance control of USA government gradually?
Here are some related links I found about this pool:
-snip-

The correct address is foundrydigital.com. Any other address that you're visiting is a scam.

The parent company (Digital Currency Group) is private and based in the US. They have to comply with US laws and regulations, though there is no crypto censorship related laws in place yet for the mining industry. Most allegations against Foundry is unfounded at the moment and they have not openly censored any transactions. So far, only MARA pool has openly declared that they're filtering non compliant blocks.

SilverCryptoBullet

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Quote from: ? on December 25, 2024, 01:14:43 PM

This pool actually makes me paranoid so that I registered an account to ask.
Is the destination of this pool to enhance control of USA government gradually?
Here are some related links I found about this pool:

https://bitcoin.lu.ke/mining/pool/foundryusa

https://www.foundryusa.com/

There are attempts to censor Bitcoin transactions from Bitcoin Mining pool, Foundry USA.

Six OFAC-sanctioned transactions missing
Missing transaction observations.

RickDeckard

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Foundry USA basically works as any other pool - They have their own miners but you individual users can also join them in the efforts of mining bitcoin. The thing with Foundry is that they have amassed a huge base of miners, which allows them to currently have an astonishing hashrate of 248.8 EH/s[1]. They are actually part of a larger investment group called Digital Currency Group[2] - which also owns other companies such as CoinDesk.

Quote from: ? on December 25, 2024, 01:14:43 PM

(...)
https://www.foundryusa.com/

I'm 99 % certain that this is not the real website of the company but instead a possible scam. A simple WBM search shows that the domain once hosted a cloud mining service[3] on October 2023 and shortly before the domain was on sale[4].
If you want to learn more about Foundry, this[5] is the source that you should visit.

[1]https://mempool.space/mining/pool/foundryusa
[2]https://www.foundryusa.com/
[3]https://web.archive.org/web/20231206141536/https://foundryusa.com/
[4]https://web.archive.org/web/20220706221600/http://foundryusa.com/
[5]https://foundrydigital.com

Ambatman

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There's no evidence of a direct relationship or control of the government over Foundry mining pool.
They are controlled by foundry digital which is a subsidiary of digital currency group.
Even with the government growing interest in cryptocurrency
The only way they can control it is through regulatory frameworks and not direct ownership.
They are considered one of the largest mining pool.

?

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This pool actually makes me paranoid so that I registered an account to ask.
Is the destination of this pool to enhance control of USA government gradually?
Here are some related links I found about this pool:

https://bitcoin.lu.ke/mining/pool/foundryusa

https://www.foundryusa.com/

Topic: What is this "Foundry USA" thing? (Read 177 times)