I deleted my prior reply. Too many typos. My point was that Jack Dorsey might improve things. It's scary how China (Bitmain) still controls mining.
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Mining has always been centralized, though who's the biggest miner keeps rotating. 1:05 video showing the rotation in miner dominance: https://twitter.com/SDWouters/status/1780594555429290311 I predict it will continue to be centralized, if only b/c it's a tough business where scale makes sense.
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This is not nice, to say the least. To change proof of work function, will piss off current miner cohort sure, as well put a stain on bitcoin reputation of stable and trustworthy and predictable What's the guarantee that history won't repeat itself and new miner wave won't centralized around new/old bitmain again. Solution should place incentives correctly, imo, it should be easier/more profitable to not be a member of a pool, or be a member of not a large one. It's easy to say though, I don't know how to do it.
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This was already warned years before, now they already own 47% of the entire hashrate...
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10 sats \ 1 reply \ @siggy47 24 Apr
deleted by author
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Yeah hope so, things have become more centralised than I realised.
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