Post
Topic
Board Altcoin Discussion
Re: The state of crypto - The only serious thread on the subforum
by
smooth
on 16/09/2015, 23:08:20 UTC
Delegated proof of work, which Bitcoin is, doesn't.  It's no more fault tolerant than DPoS.

Hashcash POW is subject to sybil due to ASICs, this is clearly something that satoshi did not foresee, I agree.

The pool sybil is due to pool mining, not ASICs. Even before ASICs, there were pools nearing 50% hash rate, outcries, and pools subsequently "shrinking" (though that may have been a sham).

What ASICs do is concentrate mining (at least indirect control over it) in the hands of ASIC developers as a sort of hydraulic empire. That may break down as hashing ASIC technology becomes commoditized, which seems somewhat inevitable.