10 sats \ 0 replies \ @Roll OP 3 Jun \ parent \ on: Is Bitmain Hijacking Their Firmware? | Guest: Junseth security
Bitmain’s involvement in the Bitcoin community is discussed, including their influence on SegWit activation and their use of covert Asic boost. Their intentional crippling of firmware and recent announcement of expecting a baby are also mentioned, along with the University of Austin’s adoption of Bitcoin.
Highlights:
- Bitmain used covert Asic boost, grinding Merkel Roots, giving them an advantage over other miners. -They blocked SegWit activation to protect their covert Asic boost capability.
- Bitma-in initially denied using covert Asic boost but was proven wrong by Greg Maxwell.
- Intentional firmware crippling on Bitmain’s ant miners led to mining empty blocks.
- University of Austin adopted Bitcoin and created a Bitcoin endowment fund with Unchained.
- Slow adoption of Bitcoin in universities due to outdated leadership.
- University of Austin’s move might inspire other universities to adopt Bitcoin.
Key Insights:
- Bitmain’s use of covert Asic boost, grinding Merkel Roots, gave them an unfair advantage, impacting the fairness of the mining process.
- Blocking SegWit activation hindered the development of lightning network, impeding Bitcoin’s scalability.
- Bitmain’s dishonesty about using covert Asic boost damaged their credibility within the Bitcoin community.
- Intentionally crippling firmware on ant miners showed Bitmain’s willingness to prioritize their own interests over the overall health of the Bitcoin network. -The University of Austin’s adoption of Bitcoin showcases the growing acceptance and recognition of its potential as a valuable asset.
- Outdated leadership in universities has been a hindrance to Bitcoin adoption, but the University of Austin’s move can serve as a motivating example for others.
- The adoption of Bitcoin by universities can lead to increased research, development, and innovation within the cryptocurrency space.