Post
Topic
Board Bitcoin Discussion
Re: Jack Dorsey wants to decentralize Bitcoin mining with new investment
by
franky1
on 30/11/2023, 00:16:32 UTC
-cut-
But is this necessary? I am thinking it is a good idea, but what about you people. Is it a good ideas?
Not only a good idea, it's a brilliant idea, at least for credibility of proof of work consensus mechanism. For a long time i've seen giant centralized pools as a biggest threat to bitcoin.
And centralization of them was undermining the whole idea of centralization, so i am glad that someone is rethinking how we should approach idea of pools.

Only potential problem i see in this is someone will find an exploit and steals one block of rewards. And that's something i can live with. Also as i am not an expert i don't know where the fud will come towards this but
i am prepared to read critique against this with a grain of salt.

its not a great idea..
both "ocean" and ckpool are still pools .. where one manager is the one deciding which transactions do or dont get into a block. its still one manager deciding if he wants to flag support for a protocol upgrade proposal.. the asics still dont have a say in it..

analogy
its still a factory producing the same product. all thats changed is users salary method. getting paid per 10 minutes instead of per month for ocean and the guy that math the millionth target product id gets paid all salaries of all workers for being the lucky worker in the production like for CKpool

but in both cases the factory is still managed by the same factory owner who still has control of whats produced