0 sats \ 5 replies \ @machuPikacchu OP 25 Apr \ parent \ on: Mining centralization: the nuclear option bitcoin
Maybe you're right, but let's consider what it takes to run a big operation now.
Large data centers housing thousands of a given ASIC. All of them are running at the same time and therefore you have high density of computation in that building. If they had to support 10 models then at any given time 90% of their hardware is idle. It becomes hard to justify having that as a business.
On the other hand an average person could buy a handful of a given ASIC and have it sit idle in their house until it can be used. They can be opportunistic with earning sats.
If you combine 10 ASICs into one then it would be less efficient than an ASIC optimized for a single hash function right? Then those who hash with the optimized hardware will have the advantage. That seems like it would favor plebs.
If you combine 10 ASICs into one then it would be less efficient than an ASIC optimized for a single hash function right? Then those who hash with the optimized hardware will have the advantage. That seems like it would favor plebs.
You may lose some efficiency, but the basement dwelling pleb won't be able to mine 90% of the time, so they lose 90% efficiency.
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Then aside from hoping the pools adopt Stratum V2 what's the solution? Change the algo once every few years and repeat this process? Is there another way?
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The vast majority of mining equipment comes from a country whose government takes pride in censorship. That country is also expected to bring online significantly more energy production in the coming decade. They can make it difficult to change the pool that equipment mines on and most people can't be bothered to reverse engineer manufacturer firmware. Do you not see a danger in this trend continuing?