Top 3 mining pools @FoundryServices @AntPoolofficial & @f2pool_official now have 54,8% of the total hashrate compared to 50,7% 2 months ago (8,09% increase)! Is this a threat to decentralization? Which smaller mining pools out there are doing a good job and should be supported?
229 sats \ 0 replies \ @Lost_dogz 26 Aug 2022
If you wish to support a pool that contributes more to the Bitcoin ecosystem than mining alone, Slush pool is the place to go. They will be renamed Braiins pool as of September. They are one of the driving forces behind Stratumv2 (more decentralized mining) and the Braiins software (tuning miners). Their current share is around 5 - 6%
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105 sats \ 0 replies \ @sandbeach123old 28 Aug 2022
Every industry has this problem that lead to market concentration. Big pools get smaller costs by miner, thus offering lower fees and then getting more miners. Same with any other industry (eg amazon, nike, walmart, bp, you name it). I guess the only option would be like a p2pool, a protocol level designed pool, with no admin that would offer 0 fees. However it may be harder to implement specific high speed communications between miners to work with coordination. Clearly big pools use their own specific custom made super fast protocols so they save time on gossip, proof sending, block building, etc. IMHO.
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85 sats \ 6 replies \ @SimpleStacker 26 Aug 2022
I don't think so. The mining pool operator doesn't have control over the individual miners. If a pool has bad behavior miners can switch to another pool.
I would want to see the distribution of hashrate by decision-making entities, but I don't know how to get that data.
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269 sats \ 4 replies \ @nullcount 26 Aug 2022
Foundry is the largest and they control all their hashrate. You and I cannot mine for Foundry.
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32 sats \ 0 replies \ @SimpleStacker 27 Aug 2022
Ah, didn't know that. Is that coz they control all the hardware or because of something else, like a protocol they run?
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35 sats \ 2 replies \ @rijndael 27 Aug 2022
That’s not true. A bunch of publicly traded us miners mine for foundry. Hut 8, I think marathon, etc. they’re enterprise-focused, but they don’t own all their hashrate.
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25 sats \ 1 reply \ @nullcount 27 Aug 2022
I stand corrected. However, they vet their miners before allowing them to pool. What could they possibly be offering to be so exclusive?
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25 sats \ 0 replies \ @tosky 28 Aug 2022
regulatory certainty?
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25 sats \ 0 replies \ @jp 26 Aug 2022
Do these top 3 miners take possession of the morning equipment and warehouse them (like compass)?
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50 sats \ 0 replies \ @nout 26 Aug 2022
We need StratumV2
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121 sats \ 0 replies \ @NordlysLN 27 Aug 2022
Ideally, mining power wouldn’t be so concentrated but the beauty of Bitcoin is that the miners don’t control the network. The node operators do, and pretty much anyone can run a node. Remember, miners opposed SegWit but they were forced to comply thanks to the nodes.
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20 sats \ 0 replies \ @cryptocoin 26 Aug 2022
The link to that chart:
https://insights.braiins.com/en/#hash_rate_distribution
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35 sats \ 1 reply \ @Saxtheowl1 26 Aug 2022
deleted by author
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50 sats \ 0 replies \ @SatoshiConsult 27 Aug 2022
I´ve heard that Foundry has very strict KYC & AML-regulations, for all miners participating in Foundry USA.
How can we reduce the mining-ratio of Foundry USA, in addition to get Foundry to plug in to StratumV2?⛏️
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25 sats \ 0 replies \ @rijndael 27 Aug 2022
Not really a threat. StratumV2 will make it even less of a threat.
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25 sats \ 0 replies \ @lv99_slacker 27 Aug 2022
Not good.
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25 sats \ 0 replies \ @jimblogic 27 Aug 2022
But they aren't in China any more! Lol
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25 sats \ 0 replies \ @frostdragon 27 Aug 2022
Yeah this would only be concerning if three companies owned over 51% of miners. If a pool started mining empty blocks, it wouldn’t be able to pay miners, and they’d switch to a different pool pretty quickly.
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25 sats \ 1 reply \ @selfish_gene 27 Aug 2022
10% для каждого пула будет нормой. но тот кто хочет иметь более будет это делать в одиночестве. особенно если это США. и будет вынужден майнить и наращивать сеть своего пула что б пробывать провести атаку. им ещё нужно 100% своей мощности. и только после 51% они могут сделать попытку провести атаку 51%.для сохранения $ как мировой валюты. но спешу вас успокоить. этого не случиться так как есть программа для наращивания сети в такой ситуации. или будет сделан регрес для вечной гонки на пороге 1% который не набрать. 49% так и останется не преодалимой цыфрой. имхо
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25 sats \ 0 replies \ @om 27 Aug 2022
Safety from 51% attack can't be accomplished by just keeping someone's hash rate below 49% at average (not peak) load. If for example Foundry wants to mount a 51% attack they need to rent 30% more to succeed which is still hard enough for now. But if a single miner controls 49% the safety is already dead because they can just rent 2% more whenever they want.
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25 sats \ 0 replies \ @tomlaies 27 Aug 2022
Not yet. But if one were to join mining they should join a smaller pool.
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