Author: Antoine Riard 2023-09-13 20:25:07+00:00
Published on: 2023-09-13T20:25:07+00:00
There are several points discussed in the email. The sender first mentions that they are not aware of any theory regarding the cost/income structure of a lambda mining operation, as well as how changes in withhold mined coins can impact the long-term sustainability of the business. They also mention the importance of considering relationships with electricity providers and mining chip makers.Moving on, the sender agrees that if a mining operation disregards OFAC sanctioned transactions, as long as this is a minority of economic transactions, they can afford to stay in business without losing long-term blockspace issuance. However, if the cost of regulation enforcement becomes too high, they can consider moving to a jurisdiction with lower regulation costs. The sender highlights the need for further research on whether additional constructs and smart contracts would incentivize block-reorgs or transaction censoring attitudes.The email also mentions the uncertainty regarding the miners' incentives equilibrium if the timewarp attack is reduced. The sender agrees that miners and full-nodes operators' incentives should be a built-in protection in case of consensus upgrades that significantly alter the Bitcoin deep security model. However, they note that the model itself is unclear and has not been formalized despite years of blocksize wars and proposed covenant upgrades.In addition to the technical aspects, the sender raises concerns about the application of OFAC (Office of Foreign Assets Control) respecting EU GDPR (General Data Protection Regulation), Article 8 of the CEDH (European Convention on Human Rights), and constitutional protections such as Roe v. Wade in the US. They suggest that individuals with legal and technical expertise should consider opening litigations against mining pools and chain analysis companies, particularly in non-Western jurisdictions where ethical concerns may arise.The email concludes by mentioning a link to an article discussing consensus cleanup soft forks and the importance of addressing Bitcoin consensus "technical debt" to simplify the design and analysis of covenants and second-layer protocols.
Updated on: 2023-09-16T01:50:50.187795+00:00