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114 sats \ 4 replies \ @south_korea_ln 7h \ on: Bitcoin needs a censor bitcoin
Very entertaining read. Not sure if it'll work out the way it is being theorized, but it's a neat example of game theory potentially leading to the best outcome for Bitcoin.
Yeah, so much is just thinking about what people might do.
Maybe when the time comes all the hashers stick with the pool even though it censors because they offer bonus free Taylor Swift concert tickets.
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I wonder if there is any argument to be made for a future where solominers play a role again. I guess their aggregate hash power doesn't even show in the chart above?
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At the moment, solo mining pretty much means losing out on profits. Unless you are a really big solominer with a lot of hashpower, you probably aren't solving a block this decade.
On the other hand, maybe you are running a bitcoin mining water heater and you like to play the lottery.
I'm not sure how a widespread adoption of "byproduct hashpower" changes things. Interesting to consider.
But it seems likely that pure, for-profit mining will always be the dominant portion of hash power.
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Yeah, I was definitely not thinking about it being useful for the individual. But if 1000s of people consider this lottery mining as something they are willing to pay for (without likely profits), as an aggregate, you start forming the equivalent of a small pool of "idealistic" miners, who likely will have less pressure to censor.
On second reading, I guess that's what you referred to as "widespread adoption of "byproduct hashpower".
But it seems likely that pure, for-profit mining will always be the dominant portion of hash power.
I agree.
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