Author: Jeff Garzik 2014-07-17 16:14:41
Published on: 2014-07-17T16:14:41+00:00
In the context provided, the author discusses the concept of "acceptable" in regards to Bitcoin mining. While there is disagreement on whether the marketing of a 40% solution is a good idea, the author believes it is a positive step in the right direction. However, the more critical issue is developing technical solutions for decentralized transaction selection and other aspects of SPOF-proofing mining. The author provides a historical note on Satoshi's views on GPU mining pools and the potential devolvement of the network to a few big players at VISA/MC transaction levels. Though there is consensus on the need for a "keep bitcoin free and open" technical solution, it remains to be seen how much engineers can do to make life fair. One possible solution is making transaction selection more independent from hashpower, but there are several other proposals being discussed.
Updated on: 2023-06-09T01:05:31.698134+00:00