Author: John Dillon 2013-06-10 08:26:39
Published on: 2013-06-10T08:26:39+00:00
In this message, Melvin Carvalho expresses his opposition to a proposal that would give miners control over the blocksize of Bitcoin. He argues that Bitcoin's fundamental philosophy was "one CPU one vote," and that any deviation from this principle, such as the use of GPUs or ASICs, gives disproportionate power to certain individuals or companies. Carvalho also notes that Satoshi Nakamoto never anticipated the rise of mining pools, which have allowed just a handful of people to control the majority of Bitcoin hashing power.Carvalho believes that maintaining the principle of "one CPU one vote" is essential for ensuring a balance of power in the Bitcoin ecosystem. He acknowledges that wallet authors can influence user behavior to some extent, but warns against giving miners complete control over the blocksize without any checks or balances. In his view, there must be a way for all stakeholders to audit the blocks produced by miners and ensure that they are acting in the best interests of the network as a whole.
Updated on: 2023-06-06T18:40:18.507329+00:00