111 sats \ 0 replies \ @moneyball 19 Apr \ parent \ on: Stop Calling It MEV · BlueMatt's Blog bitdevs
Yes, correct. Small miners would need to rely on 1 or a handful of entities that were specialists. This would be a very strong centralization effect on bitcoin and would effectively create permissioned bitcoin mining as you'd need to register with one of these entities in order to be competitive as a miner.
Then, these handful of entities could effectively dictate the rules of bitcoin in the future and censorship-resistance would be lost.
Hard to see how bitcoin would have much value if only a few entities had this much power.
111 sats \ 2 replies \ @moneyball 18 Apr \ parent \ on: Stop Calling It MEV · BlueMatt's Blog bitdevs
It is when a miner needs to pay top developers to develop software that maximizes fee revenue from transaction selection. Versus using free open source Bitcoin Core.
The benefit of a phone over a laptop for many people is that they only own a phone.
Also, phone's are far less likely to be infected by malware than a laptop.
So there is a capital gains tax event incurred? (at least in jurisdictions where there is a tax event when selling/swapping an asset)
Or, possibly server-as-a-screen allowing any other software app/device to act as the display. https://bitkey.build/screens-are-not-a-panacea/
An important addendum: Based on early feedback, allow me to clarify. I'm not suggesting redefining open source. A better way to frame it is open source best practices.
Sure working in open could apply pre-initial launch or post-initial launch. I think the latter is more important for a sustainable project that serves as a public good.
110 sats \ 0 replies \ @moneyball 19 Dec 2023 \ parent \ on: What does it mean to be open source? opensource
Agree reproducible builds should be added to the list of best practices.
There are ways to use HSMs to allow users to verify server-side builds matches the open source code, although I think only conceptually. Would love to see this done in practice so we can learn from it.
DEMAND pool supports Stratum V2 and is available today. https://x.com/bitentrepreneur/status/1730350206317703648?s=12