10 sats \ 4 replies \ @kepford 14 Sep 2023 \ parent \ on: Paxos confirms it’s responsible for $500K mistaken Bitcoin transaction bitcoin
If F2pool does return the transaction fee it is a market signal to miners to switch pools if they are unhappy. I would be unhappy if I were a miner in that pool. We've probably all over paid for a transaction by mistake. Not to this level but this isn't a pleb. This is a company. No one stole this money. F2pool has agreements with miners and there isn't any such agreement with users of bitcoin and miners. IMO it really isn't F2pool's decision to make here if you get right down to it. If a solo miner had found the block then they would have a choice to make but it would be their choice impacting no one else.
No matter what F2pool does here, asking Twitter in a poll says a lot about the leadership there.
That's my view, unforgiving and ruthless commitment to the rules we all agreed on, I think this is a pretty big deal, if F2Pool hands back the funds that could have maybe kept certain miners a float and given them a healthy windfall, then to me it kinda shows that mining pools have way too much control.
If i'm a miner and you making me miss out on a bag, im jumping ship.
Also for me it kills the whole argument for security budgets and wanting tail emissions and drivechains? Oh you need money? Why you giving it away then because some company f'd up?
We all get rekt if we don't Bitcoin properly, no exceptions
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I think I get why some people are saying they should return it. They are thinking of this as if you overpaid at a restaurant or something like that. Peer to peer. Lets say I was paying you for lunch in bitcoin and I accidentally paid you more than you asked for. You could send the excess amount back to me. This is using the system as designed. What is happening here is different. We are talking about a software mistake and we aren't talking about paying person to person. This is built into the protocol. Not to mention the agreement the Pool op has with the miners who seem to have no say in this deal.
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Exactly. Pools are a control point. No doubt about it. What should keep them in check are miners that can switch pools. I'm kinda hoping they do return it just so we can see what the actual miners do. They have options unless I'm missing something. I'm not a mining expert but I have been doing homework on that front over the past few months.
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I could be oversimplifying things but it is my understanding that it is easy to switch pools. Change some config in your miners and point your hash to another pool. I mean, at scale that would be a pain but 20 BTC is nothing to scoff at. If I were a miner there is no way I'd stick with a pool op that did this. Just as I'd never use a service like Paxos
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