From: Sancho Panza <sanch0panza@protonmail•com>
To: g <g@cognitive•ch>,
"bitcoin-dev@lists•linuxfoundation.org"
<bitcoin-dev@lists•linuxfoundation.org>
Subject: Re: [bitcoin-dev] A Small Modification to Segwit
Date: Tue, 11 Apr 2017 05:31:43 -0400 [thread overview]
Message-ID: <BiKJZxELVIwWDn-CIl6XxCbfVge6Ekb7EnvSRrwp4k4sUfIYOvJGUfD2GvJdar1IuZHTp62RfIeQYik1rS5xoVYlnnHmtb_ju1HNJx36DtM=@protonmail.com> (raw)
In-Reply-To: <f71d2435-7f5a-42a6-8244-ff13bf9a0599@Spark>
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> I completely agree that it will be in the long term interest of bitcoin to migrate, gradually, toward a commoditized POW away from the current mass centralization. There is a big problem here though: Hundreds of millions of dollars have been spent on the current algorithm, and will be a huge loss if this is not done slowly enough, and the miners who control the chain currently would likely never allow this change to happen.
> Do you have any ideas regarding how to mitigate the damage of such a change for the invested parties? Or even how we can make the change agreeable for them?
Apologies for interjecting a thought on this topic.
My belief is that Bitcoin could grow freely, and become worth enough so that mining becomes profitable even for those of us in countries without free / subsidized electricity.
By that time, buying commodity mining equipment (ASIC-based) from major manufacturers should be no problem, esp. not for existing Bitcoin holders.
I see no sign that current major miners are principally opposed to such a natural process of decentralization of Bitcoin mining.
Sancho
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next prev parent reply other threads:[~2017-04-11 9:31 UTC|newest]
Thread overview: 41+ messages / expand[flat|nested] mbox.gz Atom feed top
2017-04-07 20:06 Jimmy Song
2017-04-08 0:05 ` Jimmy Song
2017-04-08 14:59 ` Luke Dashjr
2017-04-08 15:17 ` Jimmy Song
2017-04-08 16:05 ` Luke Dashjr
2017-04-08 16:16 ` Jimmy Song
2017-04-08 16:19 ` Timo Hanke
2017-04-08 1:48 ` praxeology_guy
2017-04-08 2:46 ` Jimmy Song
2017-04-08 8:33 ` Pavel Moravec
2017-04-08 14:35 ` Jimmy Song
2017-04-08 16:38 ` Pavel Moravec
2017-04-08 22:19 ` Jimmy Song
2017-04-08 18:15 ` praxeology_guy
2017-04-08 18:51 ` Eric Voskuil
2017-04-08 20:38 ` praxeology_guy
2017-04-09 11:46 ` Jorge Timón
2017-04-08 16:27 ` Jorge Timón
2017-04-08 17:22 ` Jorge Timón
2017-04-08 22:26 ` Jimmy Song
2017-04-09 11:48 ` Jorge Timón
2017-04-09 14:01 ` Jimmy Song
[not found] ` <CABm2gDqfsBREj2x5Uz9hxwt-Y6m=KHd2-hRw4gV0CbO+-8B0dg@mail.gmail.com>
2017-04-10 9:16 ` Jorge Timón
2017-04-09 18:44 ` Erik Aronesty
2017-04-09 21:16 ` Jared Lee Richardson
2017-04-09 23:51 ` David Vorick
2017-04-10 0:20 ` Erik Aronesty
2017-04-10 1:45 ` Thomas Daede
2017-04-10 14:34 ` Bram Cohen
2017-04-10 14:46 ` Bram Cohen
2017-04-10 15:25 ` g
2017-04-10 18:17 ` Erik Aronesty
2017-04-11 2:39 ` g
2017-04-11 18:39 ` Staf Verhaegen
2017-04-11 9:31 ` Sancho Panza [this message]
2017-04-11 13:00 ` Jorge Timón
2017-04-11 7:59 ` Tom Zander
2017-04-11 13:25 ` Sancho Panza
2017-04-11 14:40 ` Jimmy Song
2017-04-11 21:25 ` Jorge Timón
2017-04-11 23:42 ` Jimmy Song
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