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144 sats \ 2 replies \ @ek 23 Oct \ parent \ on: "Quasi-consensus": help me understand this conversation with Chris Guida bitcoin
We still have censorship resistance because there’s no stopping someone from mining their own blocks, right?
No, see #1222210:
Sure, it only takes one block, but if everybody else can get into each block while I can only get into one block a year, I would consider myself censored, not very unlike a bank closing my account.
In reality, if you’re really mining your own tx, it’s more like never though.
Bitcoin’s censorship resistance relies on miners acting in their own interest, not that everyone is mining their own tx, that would be ridiculous.
Chris Guida & Co. are suggesting miners to not be selfish, see debate in the linked post.
This is absolutely crazy to me.
You should really watch the debate.
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42 sats \ 1 reply \ @ek 23 Oct
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that would be ridiculous
Because getting a single confirmation on your tx would be like winning the lottery
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0 sats \ 0 replies \ @Undisciplined 23 Oct
I get that. I articulated my thoughts better here #1263201
Free entry into mining, means profit seekers will come in and accept those censored transactions, but just that threat of entry will keep miners from engaging in widespread censorship.
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