Post
Topic
Board Mining
Merits 1 from 1 user
Re: Bitcoin faces risk of protocol-level censorship as miners under increasing regul
by
philipma1957
on 29/12/2023, 03:56:03 UTC
⭐ Merited by ETFbitcoin (1)
This cannot be controlled using the POW algorithm.
It doesn't really have anything to do with the algorithm. It has to do with OFAC and sanctions.

The Office of Foreign Assets Control ("OFAC") of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States.


Quote
Not all mining pools comply with US requirements, and for a good commission, prohibited transactions will be included in new blocks. In Russia, miners will not obey US requirements, so Russian miners will receive more profit.

https://ofac.treasury.gov/sanctions-programs-and-country-information/russia-related-sanctions



So you open a pool in El Salvador.  they say fuck you BTC is our currency we accept all transactions..

A usa mine would be banned from that pool.

Or would they mine to a proxy via tor. And let all coins sit in a virgin wallet address.

If anything smaller miners will be nimble and the big mines could suffer.

or Donald mother-fucking Trump gets in and the gov goes in another direction.