Post
Topic
Board Bitcoin Discussion
Re: Who needs Satoshi Nakamoto principles?
by
IadixDev
on 10/12/2019, 12:13:27 UTC

Sure it's definitely unfortunate no doubt about that. But going back to my point, there's really nothing we can do about this. If a poor person can mine through a cellphone, what's stopping a rich person from mining through a thousand cellphones? If a poor person can start one business, what's stopping a rich person from opening a hundred businesses that can rival the poor person's business? Just examples. Unless you're going to KYC every single miner so  you can really know that you're limiting your users to a number of devices to limit the hashrate they're using, you really can't fix this, especially in a decentralized manner.

Already if he needs to buy 1000 smartphones to have 1000x the power of a smartphone its a win compared to scale effect of mining farm.

The cost/hash is totally unfair between ASIC/mining farm and common hardware today. If the cost/hash stay more linear with the investment cost its already something.

After its doesnt necessarily mean the network is "more secure" or more efficient compared to having centralized mining farm with the lowest cost/hash possible, with all the enterprise strategy behind each transistor for this dedicated purpose.

Even to me it seems making it less scalable in term of cost/hash will decrease the total hash power for a given block reward, but its also what can make it more profitable for those with small non scalable computers, who are not necessarily going to invest much into bitcoin or xcoin either.