the two largest bitcoin mining pools in the world - Foundry USA and Antpool - require identity verification on all miners that use them
53% of global bitcoin hash rate has been doxxed between these two pools...
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Whats up with an open source mining pool repo?
@Tatum Turn Up @Derek Ross
#Poolstr
Guys, this means only one thing!
We need to make a nostr pool, with nostr identity "verification", so no KYC at all.
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Miners need to grow a pair of ballsβ¦
This is an insidious fight you stage.
Shocking
Large miners are already doxxed.
It's the small miners that hold the line in decentralization.
Is that the solution? millions of small scale miners? i wouldnβt be surprised at all.
Billions of micro miners, fishing for winning lottery tickets.
Millions of miners, using excess heat.
Thousands of large miners.
π―
That's why Monero CPU mining with all its shortcomings matters.
βThe purpose of the system is what it does, not what it claims to do.β -Stafford Beer-
Nope, ASIC mining & free market competition for PoW equipment is superior in every way.
Not true. As a regular user its much more practical, convenient to use my PC when i dont use it or even say let 30% of the cpu work for monero.
With BTC you need special hardware mainly from china. Bullshit warranty, wait time, manipulation, TAX and postage .....so much crap just to mine.
With regular hardware anyone can buy its doable for everyone. I rather have milljons of people support the network than hundreds with their farms. But that's me.
Antpool just started requiring KYC meaning more then half of miners are identified.
But no free market competition for different hardforks? Odd
What a load of crap,
Good luck mining cents meanwhile the botnet army of mining occurs on stolen computing using malware.
You have the crypto version of communism right in front of you and you can't see it...it's all theater.
Likewise, what a load of crap!
I don't care much for "earning" but more about supporting the network.
And as anything Monero just as well as Bitcoin can and will be used by criminals. So what?
Are you saying none of the BTC miners is part of criminal organisation? Yeah right! Be delusional and support big corps line Antminer who scam everyone with their miner each time.
Either way privacy by default is the way to go!
Now you're just saying things I didn't say to knock em down plus a bunch of dumb bullshit.
Enjoy your monero! Hope you're all in because it's the best thing ever! ππππ
I do like Bitcoin but i would have preferred it was hardware that was more accessible.
Next the lack of privacy is crap. That is one reason i rather use Monero or LTC with MW.
What your lacking to understand is that LN which everyone seem to promote is the definition of centralization. Same with Asic mining. How many companies can afford the big farms ?? Not many i bet and it just became even more expensive for them,,,,
Like I said you're a communist,
Rather than relish competition, actual free market competition - you want the protocol to basically be for basement dwellers as you can't mine it meaningfully.
If I want to mine pennies worth of bitcoin I can do that too with readily available hardware.
Idk how this a point you guys try and make, it's a dumb point for people sipping dumbfuckjuice.
As for the privacy part, I've already gone over this 100x & if you don't understand - you're probably too far gone anyways.
Enjoy your "privacy" masturbation.
It's so 'great' that its users will eternally have their wealth debased by #Bitcoin
The best is when they call you "NGU" bro for bringing this up ππ
They all in it to βsave the worldβ my arse π€£
βIm beyond your economic incentives it all about free speech!β π€£
Basically they're telling us they want their 'privacy' money to incentivize them to sell their house and move into a cardboard refrigerator box.
π€£
They need to keep inflating the supply to support the miners though π€‘
Bitcoiners need to keep inflating txn fees to support the miners though π€‘
Switch π to π other π pools π
I mine with Braiins, but they havenβt been winning blocks much this month. Didn't expect their market share to be so low either.
Love Brains, but you are right. It does hurt going a day without finding a block w Brains, so I split miners between Brains and F2Pool for a bit more consistent rewards. I guess that's just the cost of trying to be decentralized.
And only Braiins uses Stratum V2?
At the moment. Yes
Will stratum v2 help with this at all?
Miners used to have the good sense to switch pools.
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Its very simple, we need low power miners for at home mining. I can't run a 3kW miner at home, the power bill would dox me and I can't afford it. Even a 1kW miner would be a stretch, it'd be a huge increase to my usage. I need something in the range of 500W with reasonable efficiency, meaning if newer miners are running 3kW at 110-150 the, I need something close to 15tH. Now we just needs $10'sM...
Thanks for the heads up on this! Very interesting.
Foundry USA has some Chinese shares as I know. And Antpool and the F2 pool are the same hand, it's Bitmain.
If this was news to you, you haven't been paying attention.
If this scares you, you don't understand Bitcoin as well as you told yourself this morning.
If you think these mining pools will exist long term, you're a ππ».
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That's the possibility of 51% attack
Lowly pleb miner bucking that trend
What about the super low rate nerd miners? After all the point isn't to win necessarily but create an affordable miner with an army of users to secure voting positions?
Home mining, yes, but it must be done with ASICs to achieve a meaningful percentage.
I have faith with the next iterations of #nerdminers and #bitaxe projects.
πͺ
I do not see a problem in this. Rather not KYC of course. Worse case they move (again) to another country if it gets out of hand.
Exactly this.
Is this the bigger miners, trying to pre-empt a compulsion to do this anyway from the state?
i.e. if we 'regulate ourselves' and 'be good' we can be transparent, and ultimately be left alone - without the need for enforcement that might reach over and above?
Indeed. And the answer here is - you cannot comply your way out of fascism/communism.
We will all learn the hard way. It's the only way for most of us...
Shortsighted, imho. They are signing their own death warrant.
Pleb pools must grow stronger and more scattered.
We need to decentralize mining. I know its not obvious, but relying on these big pools is a vector of attack for bitcoin.
I'm certain today's chip makers could make usb asic sticks like the blockeruptors of old. 200,000 people each running a usb asic at 5-10gh/s and linked to an independent pool could make a difference
Snort
Snort - Nostr
Snort is a feature-packed, decentralized social media client built on Nostr protocol. Fast, censorship-resistant, and open source.
Or we could change the mining algorithm, making all those dedicated ASIC's obsolete overnight. Return to the days of CPU mining.
And face the possibility of easy attack like CPU mineable shirtcoins are.
#Bitcoin is strong also because it doesn't change the rules overnight.
This is scary!
When p2pool on bitcoin?
Monero is showing the way
All Monero shows me is how to have your wealth debased by #Bitcoin
Not really. The shirtcoin is much easier to attack, that's not the way we want to go.
One day you'll understand why #Bitcoin is the way. Good luck on your journey.
All Bitcoin shows me is how to have your wealth surveillable, nonfungible, and prohibitively expensive to transact on chain in the near future #Monero
In the future maybe. RN not really
Bitcoin is the way.
Nevertheless you have to be honest about problems and good solution by other projects
Centralized kyced mining is a problem (and an attack vector)
P2pool is a solution (with tradeoffs)
Like hell it isn't...
Draw the graph for bitcoin starting q4 of 2020β¦.
Still debased. What's your point?
A voir si pour les mineurs la décentralisation est importante et la façon dont ils vont réagir.
Vont-ils s'identifier sagement ou choisir d'autres pools plus respectueuses de la vie privΓ©e ?
Not cool.
Solutions for competitive mining from home is the way to go
Where are the bitcoin heaters at?
Hyper-KYC-coinication π
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Compliance to government ID is the way to go down to the road of hell
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Why wouldn't you just use another pool. That's strange.
Because if you're are registered business making profits and paying taxes, kyc isn't a problem. A half decent accountant will minimize your taxes, and you don't have to sneak around like a low life criminal when everything is above board.
We never saw the 53% Attack coming.
Aren't miners supposed to migrate voluntarily to other pools?
The solution is that every bitcoiner needs to at minimum run an S9 and point at slushpool. Even if it is a net loss. The combined hash will add up.
Why is everything about drivechains these days. π«
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You are calling bitcoin decentralized virtual crypto currency, but obvious problem is seeing that whole mining system is centralized and it critically depends on huge technical things that must be powered by electricity that is centralized system too. Bitcoin is moving into trap. Proof of work consensus is moving into trap. It is bullshit to tell that you can keep on renewables and your own sources, those big ones already have you in trap. Stories about decentralized bitcoin are just fairytales. Col delegated proof of stake consensus into mining pools would represent mamy times more protection for bitcoin than this, those like nodes would be able to run anywhere powered just by sun and 100% protected from censorship.
Potentially one big drawback to PPLNS locking people with big expenses in.
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Get out
Reminds me of how the charts of staking pools look for shitcoins. I'm no Bitcoin magician, but it just doesn't look decentralized enough.
#noKYC #sovereignty
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There will be chenges soon
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This is , like, not cool man.
They can switch whenever they want.
DCG and friends have ALWAYS been an enemy of Bitcoin
what are these miners getting in exchange? what's incentivising them not to switch?
There are 2016 blocks every 2 weeks, surely income stability can't be a factor especially if you're a public miner and report quarterly earnings - even if you're a 1% hashrate pool that's about 262 blocks in a Q with reasonable certainty and even a chance of being lucky and getting more.