Post
Topic
Board Bitcoin Discussion
Re: Decentrally mined currency has failed and can't possibly be rescued
by
franky1
on 01/12/2014, 05:28:49 UTC
I think you, franky1 et al fail to appreciate that an ASIC farm is a fixed position investment, with a lot of fixed capital infrastructure. You don't move these without being seen nor without losing some of your capital (downtime, loss of favorable electricity connection, favorable rent lease, etc).

It is as if you guys are living in some Bugs Bunny fantasy world and have never actually run a business.

now thats funny.
i do thank you for realising the difference between the code and physical/human issues. where by you are seemingly running out of arguments concerning the code and now moving onto talking about a physical building and the way humans choose to mine in a certain location, so again thank you.

now that your worrys of the code being broke seem to be subsiding and now the worry of physical location. this too has been talked about a hell of alot over the last few years, and again it does not mean decentralised mining is broke or unrescuable.

i think you have to have a few more pokes in the right direction to see that bitcoin as a whole and decentralized mining as a whole will continue for decades and that the only worry is human choices in regards to how they hide themselves physically(location), identifiably(online data revelations), financially. you will see that those things have nothing to do with the mining software or bitcoin. and are all human choices.

so lets poke you a bit in the direction..
1. if regulation was to come about people WILL move. as such people are already moving out of new york now. EG bitcoin foundation is now in london
2. regulations take time. months infact. more than enough for someone to recode their network software to be more stealthy. more than enough time to ship devices abroad and set up
3. even if one large farm gets shut down due to lack of care, other people will continue to mine on different pools. in short bitcoin wont die if 1 mining farm gets shut down
4. the whole bases of being decentralized is actually better then your worrying scenario's. because you are talking as if every bitcoin miner is in a centralized location. thus meaning centralized/solo mining is dead and cant be rescued. not decentralized.
5. if someone had the choice to continue running a mining farm in NY when its regulated fully. risking getting shutdown for good. OR lose 1 weeks potential income to move everything.. they will choose to move.
6. even if you continue to mine in NY, its easy to say that your a remote mining host for users. and that you are not the one in receipt of the 25btc per block.

nothing needs to be changed on the protocol, just how humans interact and make choices is the only thing that needs to change.

all of your worries (which you cant simply stick to one worry before its slapped to the ground) have been talked about multiple times, and solutions, idea's, concepts. predictions etc have all come from it.

and too be honest im starting to think you are now playing a game that has 3 parts
1. make people panic over nothing
2. mention hubris as many times as possible (must be your word of the week)
3. mention coinjoin as many times as possible.