Re: Is Bitcoin infrastructure too Chinese? What should be done technically?
It's not good to have an exact algorithm planned out, since then someone could make an ASIC for it in advance.
Then how about a group of developer upload encrypted code of the algorithm? They simply need to decrypt when it's needed.
Or choose ProgPoW since it's flexible and valid algorithm parameter/formula depends from previous block metadata (hash, merkle root, etc.).
It is odd, imo, too much concerns about ASICs and zero interest in the situation with pools.
Because potential solution/"solution" is known by more people
I'm also a bit concerned about the "new monopolies" that could emerge after a PoW change. It may sound a bit naive, but - is there a possibility to create/fund an open hardware project for mining chips running the "new Bitcoin algorithm"? It's true however that major "chip foundries" are located in China, but there are at least some scattered around the world (mainly Europe and North America) which could step in for production.
I think it's possible. But, the competition with China won't gone since the cost to manufacture the chips is still cheaper on China.