Author: Jorge Timón 2015-08-04 10:53:07
Published on: 2015-08-04T10:53:07+00:00
The discussion surrounding the issue of mining centralization and the blocksize consensus limit is ongoing in the Bitcoin community. One member noted that while increasing the blocksize may potentially increase centralized control by the Communist Chinese government, restricting it only allows them to maintain their current hold on 57% of the Bitcoin hashing power. The member suggested that miners outside of China should point to different pools and build more farms in smaller countries, such as Venezuela or Iceland, which have cheap electricity and could be good places to mine. Another member argued that if the concern is truly about mining centralization, then warning against increasing the blocksize consensus limit in this particular moment in time when mining centralization looks already bad would be more appropriate. They also raised the possibility that the other member may not actually care about mining centralization and was simply using the argument in favor of increasing the blocksize for another reason.
Updated on: 2023-06-10T18:01:37.322615+00:00