Re: [ANN] SpreadCoin | Decentralize Everything (decentralized blockexplorer coming)
My main issue with it, which I brought up originally, was that a miner (a rogue miner) could come in and have no care for Spreadcoin's future and set all of his mining blocks to zero thereby resulting in a much lower, and perhaps unsustainable reward schedule for SNs.
The great thing about miners is that they don't need to care about Spreadcoin's future.
It's irrelevant whether they care or not.
Miners gonna mine, and it's not our job to police their motivations (as georgem would say).
Instead we should care about making their job easy.
(in a chat georgem told me that's what the spread miner will be all about.
Not sure where he is going with that, but we'll see.)
Spreadcoin creates 1440 blocks a day on average.
Georgem made a few calculations about that:
Even if you had a mining cartel that voted 0% all the time,
you would just need 1 rogue miner that mines 1 block a day and votes 100%
to move the SN reward quite considerably in favour of SN.
So having a rogue miner works both ways.
Also, don't forget that mining is about chance.
Someone could have 100 times more hardware than a small guy,
but that small guy might have more luck.
AFAIK, the greatest thing about miner voting is that SN operators are incentivised to mine themselves,
and be it just one block a day.
As a solo mining coin it is essential to get as many people as possible to mine.
How hard can it be to mine just 1 of 1440 blocks?
I think that's a pretty reasonable goal.
-sf-
Georgem? Is that you?
You're right, it does incentivize the node operators to mine, which is quite a good thing - more decentralization. I have told myself before I will begin mining, but I have yet to make any steps towards doing it. Once service nodes are out I will (seriously!) I would love it if Georgem made mining super easy, then all I would have to do is hit the GPU on the ground and Spreadcoin will go into my wallet. That's how that works right?
I went back and found this post:
1000 "0" votes averaged with 440 "100" votes is still a very healthy 30.5 %. So the voting collective would have managed to even surpass the proposed goal during this emergency (suicidal GPU farm).
I actually said back then that barriers to entry for mining were a concern of mine so, I'm on board with making the mining easier so everyone can mine and vote. I never thought that Georgem would approve of that other "proposal" anyway. It was a test!
For future reference if Georgem is not in the forum for a while, everyone can begin espousing ideas that lead to centralization. He will magically appear. It's like rubbing a genie's lamp.