is the the #bitcoin mining ⛏️ really decentralised?
i can see there are few really big mining farms specially in china.
if the usa and china force the big mining farms to process blocks from certain addresses? could not this happen?
what the #bitcoin gurus think of this?
🙄 #asknostr
As far as I understand this is not possible by design.
Sorry. I understood you wrong. You mean they only mine blocks with transactions from certain addresses?
Yes this would be technically possible. But I guess the blacklisted ones would convince the miners to include their transaction by the height of the fees. In longterm only an open market will keep bitcoin mining profitable. A state has other measures to keep us in line than using valuable real energy to do so.
mmm 🤔 make sense. thanks for answering
Thanks for the zap.
Watch everything you can with Andreas Antonopoulos. You will sleep better.
"Bitcoin mining" is better thought of in 2 parts:
1. hashing
2. block template production
The hashing is very decentralized, both in terms of it's locations globally but also who and from what nations control it.
The block template production, on the other hand, has become extremely centralized. This is a complicated subject and you can search youtube for podcasts with The Bitcoin Mechanic to learn more.
Also you can look at Ocean mining and how they are working to fix this problem.
