Post
Topic
Board Bitcoin Discussion
Re: stop blaming miners
by
thecrazy1
on 24/03/2017, 21:38:14 UTC
no jonald

Mining centralisation is entirely a result of the companies selling miners taking advantage of their specialist manufacturer status. It's too expensive for a regular entrepreneurs to compete with these outfits, and even if they could, they need access to another limited resource: processor fabrication plants (which is also a politicised just oligopoly like the Bitcoin miner business is)


Miners aren't to blame, the mining monopolists are. The only way to break that monopoly is to change the technology so that the mining market becomes easy to enter. We must change the PoW algorithm to something that can't be easily made into a specialist processor, to lower the barrier to entry in the mining market.
Yes that is one way to look at it, another way is that you want to change the rules of the game because you can no longer win with those rules. Till the time you were winning, rules were fine. Miners have made the biggest investment in the bitcoin system, they secured the network when required and now you simply decide to set all their investments and hard work to zero.