Instead of talking about 100k and whether Saylor is a genius,
maxis should be talking about this instead.
#bitcoin isn't worth anything if it isn't censorship resistant. I dont care what the USD price is.
I know I know
"you'll always be able to pay 30% of your tx to a miner in North Korea and get into a block. look censorship resistance"
thats just shitty censorship resistance.
and yes, #monero fixes this.
https://b10c.me/observations/13-missing-sanctioned-transactions-2024-12/
Actual nothingburger.
Miners that censor will become out priced, as the sender pays more for censorship resistance. Bitcoin was designed to withstand this.
p.s. I love my xmr
depends on mining centralization and a wide variety of external incentives doesn't it?
if your theory is correct
there shouldn't be censored txs at all.
but if you look at the larger picture
there are a lot of external incentives that effect the game theory.
Munt tries to address this with "witnesses"...
"bitcoin is doomed, buy my shitcoin" 💩
if it's doomed
its because idiots like you think success is inevitable.
Ocean's DATUM fixes this except that large mining companies are required to be SOX compliant, even though this is a really bad idea, and counter good security practices. Of course Ocean is not SOX compliant because they know better.
And yet...
Mining with pools that are not SOX compliant can present several risks and challenges, especially for companies or individuals who are publicly traded or have regulatory obligations. Here are some key considerations:
1. **Financial Reporting Risks**: If a mining pool does not adhere to SOX compliance, it may not have adequate internal controls over financial reporting. This can lead to inaccurate reporting of earnings, expenses, and other financial metrics, which could affect the financial statements of participants in the pool.
2. **Lack of Transparency**: Non-compliant pools may not provide transparent information about their operations, fees, and distribution of rewards. This lack of transparency can make it difficult for miners to assess the true profitability and risks associated with their participation.
3. **Regulatory Scrutiny**: Companies that mine through non-compliant pools may face increased scrutiny from regulators, especially if they are publicly traded. This could lead to potential legal and financial repercussions if the company is found to be involved in operations that do not meet regulatory standards.
4. **Risk of Fraud**: Non-compliant mining pools may be more susceptible to fraudulent activities, such as misappropriation of funds or manipulation of mining rewards. Participants in such pools may have limited recourse if they encounter issues.
5. **Impact on Reputation**: Engaging with non-compliant pools can negatively impact a company's reputation, especially if it becomes public knowledge. This could affect investor confidence and market perception.
6. **Operational Risks**: Non-compliant pools may not have robust operational practices in place, which could lead to inefficiencies, downtime, or other operational challenges that affect profitability.
For individuals or companies considering mining through pools, it is essential to conduct due diligence on the pool's compliance status, operational practices, and overall reputation. This is particularly important for publicly traded entities that must adhere to regulatory requirements and maintain high standards of corporate governance.
blocked and reported for AI bullshit
Then you are missing the point. These large miners are SOX compliant. You should be asking yourself why aren't these people acting more rational, and moving to pools like Ocean.
you're retarded
takes one to know one moron.
use your brain and say something substantial or GTFO.
youre dumb because you pretend lightning doesnt exist which makes all of your FUD pointless
bro
if you think LN solves mining pools censoring txs on the base layer
you really ARE retarded.
Miners have nothing to do with lightning other than getting the channel open or close confirmed. Besides that they have zero to do with it. You're out of your element with this one.
Brilliant
if nobody uses the chain for anything except opening and closing channels,
it doesn't matter if the main chain is censorship resistant or not.
wow
I'm sorry I'm so stupid 🙄
Miners have nothing to do with lightning other than getting the channel open or close confirmed. Besides that they have zero to do with it. You're out of your element with this one.
Mining pools are bitcoins achiles heel. Thanks for the article... We need to keep vigilant here.
I really like Monero because of its one-time addresses, ring signatures, and P2pool allowing anyone to mine as their own pool.
i know right?!
id love to see widespread residential XMR mining.
