Post
Topic
Board Bitcoin Discussion
Re: Decentrally mined currency has failed and can't possibly be rescued
by
franky1
on 30/11/2014, 16:27:56 UTC
Your solution to most things seems to be "change ip address". This is fantastically short-sighted. You also seem to be conflating or confusing the issues of anonymity and freedom of transaction.

If the rapid centralization of mining hardware that we're seeing continues, and control of mining effectively consolidates into the hands of a few, then it is not much of a stretch of the imagination to think that governments/banks/corporations will seek to compel the victors (the cex.io's of the next decade) to blacklist transactions that they consider fraudulent. Your identity may be secure behind TOR (I wouldn't bet on it, personally) but if your address is blacklisted then you're still screwed, and no amount of TOR exit node hopping is going to change that.

The centralization of pools is a problem until it is solved, apparently p2pool is not the solution, and this sort of hand-waving and saying "it'll be ok, we'll figure this out" strikes me as naive, and fundamentally unwise.

i could write pages and pages about every microtopic of anonimity, centralisation of mining by a single party owning al the rigs, centralisation of mining by pool owners, anonimity of individual users, regulations of individuals, pools, mining farms, and all the other blah.

but instead of waffling and going into great detail, i just jumped straight to the point.. the problem is not with the protocol its with the people.... no matter what you attempt to do with the protocol, even though nothing needs to be done, people are the deciding factor.

so lets meander into your territory of the centralised mining farmof one individual owning a substantial amount of hash.
if we changed the protocol to be proof of resources.
a mining farm can easily set up for $20 a unit, multiple rasberry Pi's to mimic that there are multiple users with multiple machines to hide the fact its still one person.
if we changed the protocol to PoS, there are already ways around that
if we changed the protocol in any way there will always be ways to circumvent it.

POW is not broke.. the people are
bitcoin is not broke.. the people are

people are free to choose what they want to do and if a arge mining farm came together then people can all move away from that host and try different pools to keep the balance of power.
if regulations came in that people from new york had to be regulated then PEOPLE can easily mimic that thy are in russia
if regulations came in that people needed to b taxed, then PEOPLE can hide their identity to not associate their funds with their real life.

do not think i post without thinking about the topic, even if i dont waffle through my every thought. i simply try to get to the point of the issues and explain them in plain english
do not think because i am not using big words that i am not smart. i know more than you think, and i know enough that looking smart helps no one, so its best to speak in laymens terms and just get to the point

have a nice day