--- Log opened Thu Jan 30 00:00:24 2020
00:02 -!- AbramAdelmo_ [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Read error: Connection reset by peer]
00:03 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
00:33 -!- real_or_random [~real_or_r@2a02:c207:3002:7468::1] has quit [Quit: ZNC 1.7.5 - https://znc.in]
00:33 -!- real_or_random [~real_or_r@173.249.7.254] has joined #bitcoin-wizards
00:35 -!- stoner19_ [~stoner19@unaffiliated/stoner19] has quit [Ping timeout: 246 seconds]
00:35 -!- stoner19 [~stoner19@vmi221374.contaboserver.net] has joined #bitcoin-wizards
00:35 -!- stoner19 [~stoner19@vmi221374.contaboserver.net] has quit [Changing host]
00:35 -!- stoner19 [~stoner19@unaffiliated/stoner19] has joined #bitcoin-wizards
00:50 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has joined #bitcoin-wizards
00:55 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has quit [Ping timeout: 246 seconds]
01:00 -!- Mark_Cockrell [~Mark_Cock@141.98.101.133] has quit []
01:08 -!- PsychoticBoy [uid27029@pdpc/supporter/active/psychoticboy] has quit [Quit: Connection closed for inactivity]
01:13 -!- chief19831 [~chief1983@141.98.101.133] has joined #bitcoin-wizards
01:28 -!- jeremyrubin [~jr@c-67-180-60-249.hsd1.ca.comcast.net] has quit [Ping timeout: 240 seconds]
01:29 -!- Guyver2 [Guyver@guyver2.xs4all.nl] has joined #bitcoin-wizards
01:38 -!- Isthmus [sid302307@gateway/web/irccloud.com/x-yrjzcjsccopsosvz] has quit [Quit: Connection closed for inactivity]
01:43 -!- dr-orlovsky [~dr-orlovs@77-58-192-184.dclient.hispeed.ch] has quit [Quit: My MacBook has gone to sleep. ZZZzzz...]
01:58 -!- AaronvanW [~AaronvanW@unaffiliated/aaronvanw] has joined #bitcoin-wizards
02:10 -!- dr-orlovsky [~dr-orlovs@77-58-192-184.dclient.hispeed.ch] has joined #bitcoin-wizards
02:34 -!- jonatack [~jon@2a01:e0a:53c:a200:bb54:3be5:c3d0:9ce5] has quit [Ping timeout: 246 seconds]
02:41 -!- Logicwax [~Logicwax@c-76-126-174-152.hsd1.ca.comcast.net] has quit [Ping timeout: 268 seconds]
03:02 -!- azdrianz[m] [azdrianzma@gateway/shell/matrix.org/x-anuxuahphgrzdjor] has quit [Quit: User has been idle for 30+ days.]
03:04 -!- Logicwax [~Logicwax@c-76-126-174-152.hsd1.ca.comcast.net] has joined #bitcoin-wizards
03:07 -!- jcoe [seru@gateway/vpn/protonvpn/joncoe] has joined #bitcoin-wizards
03:15 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Remote host closed the connection]
03:15 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
03:18 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has joined #bitcoin-wizards
03:26 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Remote host closed the connection]
03:26 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has quit [Ping timeout: 260 seconds]
03:34 -!- belcher [~belcher@unaffiliated/belcher] has joined #bitcoin-wizards
03:40 -!- jonatack [~jon@109.202.103.170] has joined #bitcoin-wizards
03:43 -!- AaronvanW [~AaronvanW@unaffiliated/aaronvanw] has quit [Remote host closed the connection]
03:46 -!- TheoStorm [~TheoStorm@host-p8vu8h.cbn1.zeelandnet.nl] has joined #bitcoin-wizards
04:00 -!- chief19831 [~chief1983@141.98.101.133] has quit []
04:06 -!- imawhale [~Thunderbi@softbank126194150134.bbtec.net] has joined #bitcoin-wizards
04:07 -!- Guyver2 [Guyver@guyver2.xs4all.nl] has quit [Quit: Going offline, see ya! (www.adiirc.com)]
04:08 -!- imawhale1 [~Thunderbi@179.61.196.12] has quit [Ping timeout: 268 seconds]
04:14 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
04:14 -!- larsivi [~larsivi@184.75.223.227] has joined #bitcoin-wizards
04:15 -!- AaronvanW [~AaronvanW@unaffiliated/aaronvanw] has joined #bitcoin-wizards
04:16 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Read error: Connection reset by peer]
04:20 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
04:21 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Read error: Connection reset by peer]
04:40 -!- jonatack [~jon@109.202.103.170] has quit [Ping timeout: 246 seconds]
04:43 -!- jonatack [~jon@54.76.13.109.rev.sfr.net] has joined #bitcoin-wizards
04:47 -!- ghost43_ [~daer@gateway/tor-sasl/daer] has quit [Remote host closed the connection]
04:47 -!- ghost43 [~daer@gateway/tor-sasl/daer] has joined #bitcoin-wizards
05:04 -!- PaulTroon [~paultroon@h-5-150-248-150.NA.cust.bahnhof.se] has joined #bitcoin-wizards
05:20 -!- jcoe [seru@gateway/vpn/protonvpn/joncoe] has quit [Ping timeout: 265 seconds]
05:21 -!- jcoe [seru@gateway/vpn/protonvpn/joncoe] has joined #bitcoin-wizards
05:25 -!- TheoStorm [~TheoStorm@host-p8vu8h.cbn1.zeelandnet.nl] has quit [Quit: Leaving]
05:42 -!- dr-orlovsky [~dr-orlovs@77-58-192-184.dclient.hispeed.ch] has quit [Quit: My MacBook has gone to sleep. ZZZzzz...]
05:45 -!- dr-orlovsky [~dr-orlovs@77-58-192-184.dclient.hispeed.ch] has joined #bitcoin-wizards
05:57 -!- dr-orlovsky [~dr-orlovs@77-58-192-184.dclient.hispeed.ch] has quit [Quit: My MacBook has gone to sleep. ZZZzzz...]
06:12 -!- imawhale [~Thunderbi@softbank126194150134.bbtec.net] has quit [Ping timeout: 246 seconds]
06:12 -!- imawhale1 [~Thunderbi@198.8.80.112] has joined #bitcoin-wizards
06:32 -!- davterra [~dulyNoded@172.98.86.80] has quit [Ping timeout: 265 seconds]
06:32 -!- davterra [~dulyNoded@209.58.134.48] has joined #bitcoin-wizards
06:33 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has joined #bitcoin-wizards
06:38 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has quit [Ping timeout: 248 seconds]
06:41 -!- davterra [~dulyNoded@209.58.134.48] has quit [Quit: Leaving]
06:47 -!- Guyver2 [Guyver@guyver2.xs4all.nl] has joined #bitcoin-wizards
06:51 -!- AaronvanW [~AaronvanW@unaffiliated/aaronvanw] has quit [Ping timeout: 252 seconds]
06:55 -!- AaronvanW [~AaronvanW@unaffiliated/aaronvanw] has joined #bitcoin-wizards
06:58 -!- Aaronvan_ [~AaronvanW@unaffiliated/aaronvanw] has joined #bitcoin-wizards
07:00 -!- larsivi [~larsivi@184.75.223.227] has quit []
07:00 -!- AaronvanW [~AaronvanW@unaffiliated/aaronvanw] has quit [Ping timeout: 260 seconds]
07:16 -!- gribble [~gribble@unaffiliated/nanotube/bot/gribble] has quit [Remote host closed the connection]
07:17 -!- justMaD [~justMaD@77.243.177.38] has joined #bitcoin-wizards
07:27 -!- gribble [~gribble@unaffiliated/nanotube/bot/gribble] has joined #bitcoin-wizards
07:36 -!- imawhale [~Thunderbi@softbank126194150134.bbtec.net] has joined #bitcoin-wizards
07:36 -!- imawhale1 [~Thunderbi@198.8.80.112] has quit [Ping timeout: 265 seconds]
07:48 -!- dr-orlovsky [~dr-orlovs@77-58-192-184.dclient.hispeed.ch] has joined #bitcoin-wizards
07:49 -!- jonatack [~jon@54.76.13.109.rev.sfr.net] has quit [Ping timeout: 268 seconds]
08:01 -!- dr-orlovsky [~dr-orlovs@77-58-192-184.dclient.hispeed.ch] has quit [Quit: My MacBook has gone to sleep. ZZZzzz...]
08:05 -!- tromp [~tromp@ip-213-127-95-129.ip.prioritytelecom.net] has quit [Read error: Connection reset by peer]
08:06 -!- tromp [~tromp@2a02:a210:ca3:2800:8d6:f900:28a4:2a18] has joined #bitcoin-wizards
08:06 -!- Isthmus [uid302307@gateway/web/irccloud.com/x-cakqnohmcueznnch] has joined #bitcoin-wizards
08:07 -!- imawhale [~Thunderbi@softbank126194150134.bbtec.net] has quit [Ping timeout: 268 seconds]
08:22 -!- tromp [~tromp@2a02:a210:ca3:2800:8d6:f900:28a4:2a18] has quit [Read error: Connection timed out]
08:30 -!- kenshi84_ [~kenshi84@2400:4051:c162:2300:c136:bed9:eaca:3017] has joined #bitcoin-wizards
08:31 -!- kenshi84 [~kenshi84@2400:4051:c162:2300:69ce:75e9:85b4:9450] has quit [Ping timeout: 272 seconds]
08:40 -!- tromp [~tromp@2a02:a210:ca3:2800:8d6:f900:28a4:2a18] has joined #bitcoin-wizards
08:44 -!- tromp [~tromp@2a02:a210:ca3:2800:8d6:f900:28a4:2a18] has quit [Ping timeout: 245 seconds]
08:47 -!- jonatack [~jon@2a01:e0a:53c:a200:bb54:3be5:c3d0:9ce5] has joined #bitcoin-wizards
08:48 -!- tromp [~tromp@ip-213-127-95-129.ip.prioritytelecom.net] has joined #bitcoin-wizards
09:03 -!- tromp [~tromp@ip-213-127-95-129.ip.prioritytelecom.net] has quit [Read error: Connection timed out]
09:09 -!- tromp [~tromp@ip-213-127-95-129.ip.prioritytelecom.net] has joined #bitcoin-wizards
09:10 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
09:14 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Ping timeout: 265 seconds]
09:16 -!- tromp [~tromp@ip-213-127-95-129.ip.prioritytelecom.net] has quit [Read error: Connection reset by peer]
09:16 -!- tromp [~tromp@2a02:a210:ca3:2800:4d02:393e:98c:8970] has joined #bitcoin-wizards
09:18 -!- dr-orlovsky [~dr-orlovs@77-58-192-184.dclient.hispeed.ch] has joined #bitcoin-wizards
09:20 -!- morcos [~morcos@gateway/tor-sasl/morcos] has quit [Remote host closed the connection]
09:21 -!- morcos [~morcos@gateway/tor-sasl/morcos] has joined #bitcoin-wizards
09:25 -!- morcos_ [~morcos@gateway/tor-sasl/morcos] has joined #bitcoin-wizards
09:29 -!- morcos [~morcos@gateway/tor-sasl/morcos] has quit [Ping timeout: 240 seconds]
09:29 -!- morcos_ is now known as morcos
09:30 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
09:31 -!- AbramAdelmo_ [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
09:31 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Read error: Connection reset by peer]
09:32 -!- AbramAdelmo_ [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Remote host closed the connection]
09:37 -!- dr-orlovsky [~dr-orlovs@77-58-192-184.dclient.hispeed.ch] has quit [Quit: My MacBook has gone to sleep. ZZZzzz...]
09:42 -!- mryandao_ [~mryandao@gateway/tor-sasl/mryandao] has quit [Ping timeout: 240 seconds]
09:43 -!- mryandao [~mryandao@gateway/tor-sasl/mryandao] has joined #bitcoin-wizards
09:50 -!- dr-orlovsky [~dr-orlovs@77-58-192-184.dclient.hispeed.ch] has joined #bitcoin-wizards
09:53 -!- imawhale [~Thunderbi@softbank126194147045.bbtec.net] has joined #bitcoin-wizards
10:00 -!- justMaD [~justMaD@77.243.177.38] has quit []
10:03 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
10:04 -!- AbramAdelmo_ [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
10:07 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Ping timeout: 240 seconds]
10:08 -!- imawhale [~Thunderbi@softbank126194147045.bbtec.net] has quit [Ping timeout: 268 seconds]
10:14 -!- Amanda1 [~Amanda@185.204.1.185] has joined #bitcoin-wizards
10:24 -!- jonatack [~jon@2a01:e0a:53c:a200:bb54:3be5:c3d0:9ce5] has quit [Ping timeout: 248 seconds]
10:25 -!- Aaronvan_ is now known as AaronvanW
10:32 -!- jeremyrubin [~jr@c-67-180-60-249.hsd1.ca.comcast.net] has joined #bitcoin-wizards
10:35 -!- davispuh [~quassel@87.110.32.91] has quit [Quit: http://quassel-irc.org - Chat comfortably. Anywhere.]
10:39 -!- davispuh [~quassel@95.68.54.234] has joined #bitcoin-wizards
10:40 -!- jcoe [seru@gateway/vpn/protonvpn/joncoe] has quit [Ping timeout: 268 seconds]
10:55 -!- jonatack [~jon@2a01:e0a:53c:a200:bb54:3be5:c3d0:9ce5] has joined #bitcoin-wizards
11:31 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has joined #bitcoin-wizards
11:34 -!- michaelfolkson [~textual@host-92-6-97-247.as43234.net] has joined #bitcoin-wizards
11:34 -!- michaelfolkson [~textual@host-92-6-97-247.as43234.net] has quit [Client Quit]
11:58 -!- mryandao [~mryandao@gateway/tor-sasl/mryandao] has quit [Ping timeout: 240 seconds]
11:59 -!- mryandao [~mryandao@gateway/tor-sasl/mryandao] has joined #bitcoin-wizards
12:35 -!- Netsplit *.net <-> *.split quits: midnight
12:36 -!- midnightmagic [~midnightm@unaffiliated/midnightmagic] has joined #bitcoin-wizards
12:39 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has quit [Ping timeout: 260 seconds]
12:40 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has joined #bitcoin-wizards
12:50 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has quit [Remote host closed the connection]
12:51 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has joined #bitcoin-wizards
12:52 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has quit [Remote host closed the connection]
12:52 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has joined #bitcoin-wizards
13:00 -!- Amanda1 [~Amanda@185.204.1.185] has quit []
13:00 -!- shush [~pawn@2605:e000:1c02:c564:e02e:7442:d7e8:c3b3] has quit [Remote host closed the connection]
13:17 -!- Dean_Guss [~dean@gateway/tor-sasl/deanguss] has quit [Remote host closed the connection]
13:17 -!- Dean_Guss [~dean@gateway/tor-sasl/deanguss] has joined #bitcoin-wizards
13:30 -!- shush [~pawn@cpe-76-88-85-108.san.res.rr.com] has joined #bitcoin-wizards
13:34 -!- shush [~pawn@cpe-76-88-85-108.san.res.rr.com] has quit [Ping timeout: 260 seconds]
13:35 -!- shush [~pawn@cpe-76-88-85-108.san.res.rr.com] has joined #bitcoin-wizards
13:42 -!- ajbiz11 [~ajbiz11@184.75.223.227] has joined #bitcoin-wizards
13:59 -!- davispuh [~quassel@95.68.54.234] has quit [Ping timeout: 268 seconds]
14:13 -!- Guyver2 [Guyver@guyver2.xs4all.nl] has quit [Quit: Going offline, see ya! (www.adiirc.com)]
14:19 -!- shush [~pawn@cpe-76-88-85-108.san.res.rr.com] has quit [Remote host closed the connection]
14:28 -!- davispuh [~quassel@95.68.54.234] has joined #bitcoin-wizards
14:34 -!- nick_freeman [~nick_free@92.116.168.255] has quit [Remote host closed the connection]
14:35 -!- nick_freeman [~nick_free@2001:16b8:30ab:c100:fc22:a674:c70d:e78] has joined #bitcoin-wizards
14:39 -!- imawhale [~Thunderbi@softbank126194158073.bbtec.net] has joined #bitcoin-wizards
15:02 -!- AbramAdelmo_ [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Remote host closed the connection]
15:02 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
15:06 -!- davispuh [~quassel@95.68.54.234] has quit [Ping timeout: 265 seconds]
15:07 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Remote host closed the connection]
15:08 -!- rusty [~rusty@pdpc/supporter/bronze/rusty] has joined #bitcoin-wizards
15:10 -!- davispuh [~quassel@95.68.50.217] has joined #bitcoin-wizards
15:11 -!- shush [~pawn@2607:fb90:4ae6:b745:59e4:e740:bd8c:2d0f] has joined #bitcoin-wizards
15:21 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
15:24 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Remote host closed the connection]
15:33 -!- shush [~pawn@2607:fb90:4ae6:b745:59e4:e740:bd8c:2d0f] has quit [Remote host closed the connection]
15:41 -!- jb55 [~jb55@gateway/tor-sasl/jb55] has quit [Remote host closed the connection]
15:41 -!- Dean_Guss [~dean@gateway/tor-sasl/deanguss] has quit [Remote host closed the connection]
15:41 -!- Dean_Guss [~dean@gateway/tor-sasl/deanguss] has joined #bitcoin-wizards
15:42 -!- jb55 [~jb55@gateway/tor-sasl/jb55] has joined #bitcoin-wizards
15:44 -!- _whitelogger [~whitelogg@uruz.whitequark.org] has quit [Remote host closed the connection]
15:45 -!- _whitelogger [~whitelogg@uruz.whitequark.org] has joined #bitcoin-wizards
15:58 -!- M7918070_[m] [m7918070ma@gateway/shell/matrix.org/x-zzypctstuinrhovl] has joined #bitcoin-wizards
15:58 < M7918070_[m]> I was thinking about the BCH "compulsory donation" fund. How come Bitcoin miners don't pull something similar?
15:59 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
15:59 < M7918070_[m]> Say that 51% of miners demand that you pay 12.5% of your block reward in "safety fees" into some random multisig they choose or they'll ignore your blocks. What happens then?
16:00 -!- ajbiz11 [~ajbiz11@184.75.223.227] has quit []
16:00 < M7918070_[m]> If they pay it out in pool rewards, you get a very strong incentive towards centralization.
16:00 -!- AbramAdelmo_ [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
16:02 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Read error: Connection reset by peer]
16:02 < M7918070_[m]> Say the attacking pool controls N*100% of the total hashrate, where N > 0.5, and takes a haircut of K*100%.
16:02 < belcher> yes, 51% of miners can censor based on any criteria they want, probably the reason they dont do this is they wouldnt make as much money as they do now (they might earn more bitcoins, but those coins would likely be worth less)
16:02 < M7918070_[m]> Either you join the majority pool coalition, and obtain reward + K(1-N)reward. Or you stay with the minority pool, and get a reward of K*reward.
16:02 < kanzure> belcher: and creates an incentive for defection
16:03 < belcher> merchants and accumulators who run full nodes can do a similar thing: UASF to force the block reward to zero, or even force miners to burn bitcoins in order to create blocks
16:03 < M7918070_[m]> That's a negative externality. It's unlikely that such changes would immediately drop the Bitcoin price by more than 12.5%.
16:03 < M7918070_[m]> kanzure: No, the incentive is on the opposing miners to defect
16:03 < belcher> once this censoring group gets above 50% isnt the incentive for all other miners to join in?
16:04 < belcher> M7918070_[m] idk, the bitcoin price seems like it moves 12.5% all the time
16:06 < M7918070_[m]> nah
16:08 < M7918070_[m]> price * vol * sqrt(days) / sqrt(365) = 1 sd move
16:09 < M7918070_[m]> for bitcoin rewards take 200 blocks to mature, so ~1.4 days
16:10 < M7918070_[m]> 90-day high for vol is 80%
16:10 < M7918070_[m]> 1*.8*sqrt(1.4/365) = 0.05
16:10 < M7918070_[m]> so it's a 5 sigma move
16:10 < M7918070_[m]> quite a big one in other words
16:11 < M7918070_[m]> Also, it's trivial to hedge against, just go on any exchange and sell a bunch of future contracts right before you annoince it.
16:12 < M7918070_[m]> It doesn't seem like BCH fell on the news of the haircut. Or did it?
16:13 < belcher> another way it could be resisted is by transactors paying higher miner fees
16:14 < belcher> users without the 12.5% extra output will notice their transactions wont get confirmed, so they'll fee-bump, and once that fee gets above 12.5% then the non-haircut miners eventually win
16:15 < belcher> oh wait you said the haircut comes from the block reward, not transaction fees... hmm
16:15 < M7918070_[m]> No, they don't censor transactions. Users have zero incentive to care.
16:16 < M7918070_[m]> From the PoV of an user, the only change is that the hashrate might go down. Although I'm not even sure it should
16:16 < M7918070_[m]> The non-cartel miners will draw less profits, thus decrease their hashrate.
16:17 < M7918070_[m]> But the cartel miners will draw more profits, thus increasing their hashrate
16:17 < M7918070_[m]> In fact, it seems like it's even funnier. If the cartel control 51%, perhaps it makes sense with a 1% haircut, but wanting something insane like 50% would probably not fly.
16:17 < M7918070_[m]> But if they're 99%, what are the minority gonna do? Sue them for antitrust violations?
16:18 < M7918070_[m]> In other words, it seems like the only stable equilibrium is for the cartel to control 100%. This can either happen by miners defecting, or by pools defecting without asking their miners.
16:18 < M7918070_[m]> (Pools have an incentive to do this because of fees)
16:21 < M7918070_[m]> Anyone?
16:23 -!- harrow [~harrow@static.38.6.217.95.clients.your-server.de] has quit [Ping timeout: 260 seconds]
16:24 -!- harrow [~harrow@static.38.6.217.95.clients.your-server.de] has joined #bitcoin-wizards
16:24 -!- aupiff [~aupiff@172.58.228.82] has joined #bitcoin-wizards
16:42 -!- Eramdam1 [~Eramdam@185.169.255.76] has joined #bitcoin-wizards
16:49 -!- shush [~pawn@2606:6000:e6c6:5200:50d8:d007:7b61:7f76] has joined #bitcoin-wizards
16:58 -!- AbramAdelmo_ [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Remote host closed the connection]
16:59 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
17:17 -!- aupiff [~aupiff@172.58.228.82] has quit [Ping timeout: 260 seconds]
17:29 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Remote host closed the connection]
18:03 -!- Madars [~null@unaffiliated/madars] has quit [Quit: reboot]
18:03 -!- shush [~pawn@2606:6000:e6c6:5200:50d8:d007:7b61:7f76] has quit []
18:05 -!- davispuh [~quassel@95.68.50.217] has quit [Quit: http://quassel-irc.org - Chat comfortably. Anywhere.]
18:07 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
18:08 -!- TheoStorm [~TheoStorm@host-p8vu8h.cbn1.zeelandnet.nl] has joined #bitcoin-wizards
18:08 -!- AbramAdelmo_ [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
18:09 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Read error: Connection reset by peer]
18:15 -!- belcher [~belcher@unaffiliated/belcher] has quit [Quit: Leaving]
18:18 -!- shush [~pawn@2606:6000:e6c6:5200:50d8:d007:7b61:7f76] has joined #bitcoin-wizards
18:31 -!- shush [~pawn@2606:6000:e6c6:5200:50d8:d007:7b61:7f76] has quit [Remote host closed the connection]
18:40 -!- TheoStorm [~TheoStorm@host-p8vu8h.cbn1.zeelandnet.nl] has quit [Quit: Leaving]
18:43 -!- aupiff [~aupiff@172.58.227.251] has joined #bitcoin-wizards
18:51 -!- aupiff [~aupiff@172.58.227.251] has quit [Ping timeout: 268 seconds]
18:54 -!- nick_fre_ [~nick_free@92.116.129.90] has joined #bitcoin-wizards
18:54 -!- PaulTroon [~paultroon@h-5-150-248-150.NA.cust.bahnhof.se] has quit [Remote host closed the connection]
18:57 -!- nick_freeman [~nick_free@2001:16b8:30ab:c100:fc22:a674:c70d:e78] has quit [Ping timeout: 260 seconds]
19:00 -!- Eramdam1 [~Eramdam@185.169.255.76] has quit []
19:14 -!- Isthmus [uid302307@gateway/web/irccloud.com/x-cakqnohmcueznnch] has quit [Quit: Connection closed for inactivity]
19:17 -!- jaekwon [~jaekwon@84.39.117.57] has joined #bitcoin-wizards
19:21 -!- imawhale [~Thunderbi@softbank126194158073.bbtec.net] has quit [Ping timeout: 268 seconds]
19:21 -!- imawhale1 [~Thunderbi@199.229.250.186] has joined #bitcoin-wizards
19:25 -!- roconnor [~roconnor@host-104-157-187-25.dyn.295.ca] has quit [Quit: Konversation terminated!]
19:34 -!- Belkaar [~Belkaar@unaffiliated/belkaar] has quit [Ping timeout: 260 seconds]
19:34 -!- Belkaar [~Belkaar@xdsl-85-197-36-228.nc.de] has joined #bitcoin-wizards
19:34 -!- Belkaar [~Belkaar@xdsl-85-197-36-228.nc.de] has quit [Changing host]
19:34 -!- Belkaar [~Belkaar@unaffiliated/belkaar] has joined #bitcoin-wizards
19:52 -!- zmnscpxj [~zmnscpxj@gateway/tor-sasl/zmnscpxj] has joined #bitcoin-wizards
20:22 -!- fkinglag [~fkinglag@unaffiliated/fkinglag] has quit [Ping timeout: 260 seconds]
20:29 -!- shush [~pawn@2607:fb90:4afa:d6ec:90b0:bf4d:a946:2325] has joined #bitcoin-wizards
20:30 -!- shush [~pawn@2607:fb90:4afa:d6ec:90b0:bf4d:a946:2325] has quit [Remote host closed the connection]
20:36 -!- shush [~pawn@128.177.20.34] has joined #bitcoin-wizards
20:38 -!- bitdex [~bitdex@gateway/tor-sasl/bitdex] has joined #bitcoin-wizards
20:38 -!- AbramAdelmo_ [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has quit [Read error: Connection reset by peer]
20:38 -!- AbramAdelmo [AbramAdelm@gateway/vpn/protonvpn/abramadelmo] has joined #bitcoin-wizards
20:40 -!- shush [~pawn@128.177.20.34] has quit [Remote host closed the connection]
20:53 -!- aupiff [~aupiff@172.58.228.3] has joined #bitcoin-wizards
20:55 -!- PaulTroon [~paultroon@h-5-150-248-150.NA.cust.bahnhof.se] has joined #bitcoin-wizards
21:01 -!- PaulTroon [~paultroon@h-5-150-248-150.NA.cust.bahnhof.se] has quit [Ping timeout: 260 seconds]
21:11 -!- shush [~pawn@128.177.20.34] has joined #bitcoin-wizards
21:12 -!- bitdex [~bitdex@gateway/tor-sasl/bitdex] has quit [Quit: = ""]
21:15 -!- shush [~pawn@128.177.20.34] has quit [Ping timeout: 260 seconds]
21:18 -!- bitdex [~bitdex@gateway/tor-sasl/bitdex] has joined #bitcoin-wizards
22:00 -!- jaekwon [~jaekwon@84.39.117.57] has quit []
22:05 -!- likewhoa [~likewhoa@li1078-231.members.linode.com] has quit [Ping timeout: 272 seconds]
22:09 -!- likewhoa [~likewhoa@li1078-231.members.linode.com] has joined #bitcoin-wizards
22:13 -!- nick_fre_ [~nick_free@92.116.129.90] has quit [Remote host closed the connection]
22:13 -!- nick_freeman [~nick_free@2001:16b8:30ee:a900:adb8:473d:879:c9db] has joined #bitcoin-wizards
22:15 -!- jesusabdullah [~jesusabdu@185.189.112.11] has joined #bitcoin-wizards
22:17 -!- nick_freeman [~nick_free@2001:16b8:30ee:a900:adb8:473d:879:c9db] has quit [Ping timeout: 245 seconds]
22:37 -!- aupiff [~aupiff@172.58.228.3] has quit [Ping timeout: 265 seconds]
22:54 -!- mryandao [~mryandao@gateway/tor-sasl/mryandao] has quit [Remote host closed the connection]
22:55 -!- mryandao [~mryandao@gateway/tor-sasl/mryandao] has joined #bitcoin-wizards
22:57 -!- PaulTroon [~paultroon@h-5-150-248-150.NA.cust.bahnhof.se] has joined #bitcoin-wizards
23:02 -!- PaulTroon [~paultroon@h-5-150-248-150.NA.cust.bahnhof.se] has quit [Ping timeout: 268 seconds]
23:04 -!- Lightsword [~Lightswor@2604:a880:1:20::1d3:9001] has quit [Ping timeout: 248 seconds]
23:05 -!- Lightsword [~Lightswor@2604:a880:1:20::1d3:9001] has joined #bitcoin-wizards
23:06 -!- _whitelogger [~whitelogg@uruz.whitequark.org] has quit [Ping timeout: 248 seconds]
23:07 -!- _whitelogger_ [~whitelogg@uruz.whitequark.org] has joined #bitcoin-wizards
23:11 -!- nick_freeman [~nick_free@92.116.129.90] has joined #bitcoin-wizards
23:38 -!- imawhale [~Thunderbi@softbank126194158073.bbtec.net] has joined #bitcoin-wizards
23:40 -!- imawhale1 [~Thunderbi@199.229.250.186] has quit [Ping timeout: 268 seconds]
23:50 -!- Jackielove4u [uid43977@gateway/web/irccloud.com/x-knydeigrlzsmvavn] has quit [Quit: Connection closed for inactivity]
--- Log closed Fri Jan 31 00:00:24 2020