Post
Topic
Board Bitcoin Discussion
Re: New bitcoin mining algorithm
by
franky1
on 26/09/2019, 00:40:27 UTC
Well, let's say some mining pool has taken over 51% of the network and can now manage your state as it wants, for example, change the chain that you have 0 coins, what do you say?

pools cant change the main rules. they would get their blocks rejected. they can only choose what transactions get included or excluded.
in short they could black list certain transactions formats or addresses, but not change the rules
try to learn about the risks before trying to pretend a algo change is needed. it just seems like your real intention is a 'get rich quick for free' option.. the flaw in that, which others have also noted is that if there was a get rich quick for free, everyone would be doing it and the end result is no one wins. thus coming back to your original problem. where you will ned to actually do something to get something. which is part of life

ASICs mean a more centralized world of BTC where a few manufacturers and a few pools control all the income.  What is so great about that?  Satoshi designed it so anyone could mine and anyone could earn BTC.

cpu mining any better? oh wait you hear the cries that 'AMD and Intel own mining'
GPU mining any better? oh wait you hear the cries that 'AMDati, Nvidia and Intel own mining'
no matter what mining is done. ther will always be cries blaming the hardware manufacturer for being king.

PoS mining.. oh wait you hear the cries where people pool/syndicate their funds into stake and that raises the minimal stake threshold to then not let the little people have a chance.

in short no matter what people try, if there is profit to b made people will try anything and everything to get more. leaving some people with less