reply on: Bitcoin Miners Don’t Exist — But Bitcoin Validators Do \ stacker news ~bitcoin

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10 sats \ 0 replies \ @BTCMiner 24 Sep 2022 \ on: Bitcoin Miners Don’t Exist — But Bitcoin Validators Do bitcoin

So, calling bitcoin miners, bitcoin validators can prevent the framing effect from occurring and shift the narrative towards PoS < PoW. [... It's also more of a technically correct and explicit term as producing valid blocks is what miners (validators) do.

Sorry, Doc [the author], but that is wrong. Bitcoin miners aren't "validating transactions". That's not their job.

Miners have one job, and one job only:

[...] all miners do is cement an ordering of transactions. the rest is done by fullnodes in a self-sovereign way.

My fullnode is what validates transactions. My fullnode protects me. It does not protect the network, and it does not protect you.

Your fullnode validates transations. Your fullnode protects you. It does not protect the network, and it does not protect me.

A mining pool uses a fullnode, but that is to ensure only valid transactions are included in a block that they are trying to get a solution for. Their full node thus protects them (and the hash providers -- the pool's customers who are running ASICs). The pool's full node does not protect the network, and it does not protect me.

Come up with a different word choice to change from "mining" to something else, ... sure, fine. But the reality is that pools and "miners" (hash providers) are not the ones validating transactions.