What is the concern?
Discussion
nostr:npub1qtvl2em0llpnnllffhat8zltugwwz97x79gfmxfz4qk52n6zpk3qq87dze is censoring transactions, although I have my opinion about certain transactions too #bitcoin still remains for everyone and it’s not for others to decide which transaction should be processed or not.
DM
Similar to other mining pools having the freedom to include spam in the blockchain, ocean has the freedom to exclude it.
Freedom of choice is consistent with the ethos of Bitcoin.
What am I missing?
You’re missing your bias.
I have already made it clear that I made an investment with Ocean. I’m not going to include it on every note.
I made the investment because I care deeply about bitcoin, and among other reasons, having four pools/nodes/entities/businesses dictating which transactions are added to the chain is a problem.
You know of my bias because, unlike many others, many of whom are attacking ocean, do not disclose.
Ocean is an honest attempt to solve a clear and present problem facing bitcoin.
My bias is bitcoin.
This is part of the problem. If you don’t run a mining node, it IS for others to decide. Transactions don’t just appear in a block, a miner, not a hasher, decides which transactions they use to construct their block. There are currently over 200,000 transactions in the mempool.com mempool and FOUR nodes (over simplification, I suppose, but essentially accurate) WILL decide which ~2500 of those + 200,000 to add.
Assuming they will always simply add the highest tx with the highest fee is an assumption that has already been proving wrong by Luxor.
Sure but the case you describe is incentivized by profit maximization right? That’s how it should work imo…
There are a few issues with assuming “profit maximization” will drive block construction:
1) This has been proven to not be the case on many occasions in the past, see Luxor (4 MB block) or miners hashing at a loss for ideological reasons.
2) The reward is paid in bitcoin. Thinking on a longer time horizon than the very next block reward, if the network continues to centralize (4 nodes are responsible for over 75% of all blocks), the value of bitcoin will trend to zero as the network loses its censorship resistance. In this case, to maximize profit in the long term, we need censorship resistance - which will ensure “there is no top” to the bitcoin price.
*investor in ocean
*my bias is bitcoin