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₿omuriver
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obsessed bitcoiner

doing some research i found this article about the issue of #centralized #mining and so the centralized control on block templates for #bitcoin

https://digitalminingsolutions.tech/restoring-decentralization-with-datum/

looks like #DATUM protocol is working to fix this.

i had no idea #bitcoin transactions could be "potentially" censored

#asknostr

i just asked:

what is the concern with centralised bitcoin templates ?

Holocat reply

The concern with centralized Bitcoin templates primarily revolves around the issues of control and potential censorship. In centralized systems, the pool operator has significant control over which transactions are included in a block, which could lead to situations where certain transactions are censored. This concentration of power can also make the network vulnerable to attacks or manipulation by those who control these centralized resources.

Moreover, centralized pools tend to perform KYC (Know Your Customer) procedures, which can lead to privacy concerns as miners' identities and details are known to the pool operators. This could potentially be exploited to exert pressure on miners or to censor specific transactions. Centralization also reduces the decentralization aspect of Bitcoin, which is one of its core principles. The more decentralized the network, the more resistant it is to censorship and attacks.

Centralized mining pools can dominate the network, leading to an imbalance where smaller, non-KYC pools struggle to compete, thus pushing the ecosystem towards fewer, larger, and more centralized entities [0][1].

Follow up questions

Sources

[0]: https://gnusha.org/pi/bitcoindev/6f7feb2b-2e24-4081-b555-db69f34d308e@dashjr.org/T/#m6d16483cdef824b1b673cd9c7ca9a57a78b76570

[1]: https://bitcoin.stackexchange.com/questions/37987#38004

[2]: https://delvingbitcoin.org/t/taxonomy-of-transaction-fees-in-smart-contracts/512/4

[3]: https://gnusha.org/pi/bitcoindev/26322ee8-08e6-4718-8d1c-60bca8c13c6a@mattcorallo.com/T/#m0a18615b7f96af4c21a5ce4207b435a6c476a1f1

[4]: https://github.com/bitcoin/bips/blob/master/bip-0124.mediawiki

is it really working? but what kind of help this should give to people

when i finally understood #bitcoin honesty i did not care anymore about what asset outperform what.

all i care is self custody, portability, divisibility, full ownership title, censorship resistance.

#bitcoin is my insurance basically same as #gold but with some improvements on gold

i also recommend you to follow the work of DR GIUSEPPE DI BELLA in his fight against the pharmaceutical companies. he and his father in italy have decades of experience in developing a therapeutic formula to help with cancer.

i also found this video interesting about #quantum computing being a threat to #bitcoin

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

hey #bitcoin gurus i just came across this interview with robert prechter ( a well known person ) who said that according to his calculations the #bitcoin price action is exhausted and even after reaching new all time high

could very well go below 10K

👇👇👇👇

https://youtu.be/TSl2aOa7K9U?si=bh2WbuP6DznlsSsQ

what do you think?

#asknostr

such as mafia organisation?

those are everywhere not just sicily.

i generally think that there countries where the BIG GOVERNMENT is not really staying with the breath on your neck like is happening is US,Canada,Europe, Australia, new zeland china and russia

i see this map on line but not sure is accurate

I reluctantly see people moving into US and Canada .

For UAE yes think 🤔 it can be accurate

the exodus of wealthy people out of uk and europe continue with no sign of slowing down.

what do they know?

#asknostr