KYC Mining Pools Control More Than 50% of Bitcoin Hashrate
Mining pools that require miner identity verification now control more than 50% hashrate of the Bitcoin network.
https://www.nobsbitcoin.com/kyc-mining-pools-control-more-than-50-of-bitcoin-hashrate/
that's bad for the decentralization and there is no doubt about it, recently was reading a book about xmr, very well discussed the ASIC centralization over btc mining... let's see how the future goes 🐦
The book about the shirtcoin mentioned how easily is to attack a CPU coins? Of course not. Sell your #Bitcoin if you're worried about decentralization due to KYC.
haha, not here for an xmr debate and i personally wouldnt conider it more of a shitcoin, as btc says "not your keys, not your wallet", you might understand how many keys you get through a kyc'ed place.
CPUs easier to attack, but easier to access for honest users: If attack is successful, it can be countered by activating more CPUs from honest users.
ASICs harder to attack, but harder to access for honest users: If attack is successful, it is basically game over.
That's where you're wrong.
First, #Bitcoin is and always will be CPU, GPU mineable so honest users can support it in time of an attack too.
Second, 51% attack means rewritten one block. That's far from game over.
Yes, but CPUs and GPUs are hardly competition to those attacking with ASICs. What percentage of Bitcoin is mined using ASICs? Probably 99.9%
ASIC short supply means you can't easily or quickly recruit more ASICs for honest users to fight back.
And about the video, AA is great, but it assumes a rational economic actor. States don't give af about that. They can throw other peoples money at the attack indefinitely.
We're talking about KYC'd miners. KYC doesn't mean less decentralized.
And yes, xmr is a shirtcoin that has temporary privacy. #Bitcoin is an absolute digital scarcity. If you don't think so, sell it all, please.
But KYC does mean you have to conform to whatever the state wants you too or you go in cagey. A big step towards centralization.
I can know Bitcoin has absolute digital scarcity, while also know Monero has much better privacy.
haha, if i believe in a tech, doesnt mean i dont in other, its never healthy to be a blind btc maxi without looking out whats happening out there, Satoshi may not be the most intelligent person/programmer ever existed, there would be many other diff techs overtine, example what you are using right now "lightning".
Monero at comparison seems more miner friendly theoretically as well, btc is the "THE GREAT" but not perfect at all mesures, obviously. Similar to Monero.
For the fact, Tron has most DAU 🤷♂️
You can do #PayNym mining on #Lincoin.
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