Dear Jim, Thank you for sharing your view w.r.t. the so called 'Chinese Miners'. Diversity of opinion, and mining, are IMHO both good and it's indeed a free world.... so others who wish to mine bitcoin should be encouraged to make the capital and technical investments to do so. May I ask what is your technical suggestion to move this discussion forward beyond your anti-Chinese/anti-China rhetoric? e.g. I would be particularly grateful if you could share your views w.r.t. colluding miner attacks in draft 0.5.9. of Joseph Poon and Thaddeus Dryja's 'Lightning network' paper, found here:- http://lightning.network/lightning-network-paper.pdf Respectfully, p. On Mon, Aug 3, 2015 at 4:02 AM, Jim Phillips via bitcoin-dev < bitcoin-dev@lists.linuxfoundation.org> wrote: > China is a communist country. It is no secret that all "capitalist" > enterprises are essentially State controlled, or at the very least are > subject to nationalization should the State deem it necessary. Most ASIC > chips are manufactured in China, so they are cheap and accessible to > Chinese miners. Electricity is subsidized and essentially free. Cooling is > not an issue since large parts of China are mountainous and naturally cool. > In short the Chinese miners have HUGE advantages over all other mining > operations. This is probably why, between just the top 4 Chinese miners, > the People's Republic of China effectively controls 57% of all the Bitcoin > being mined. > > The ONLY disadvantage the Chinese miners have in competing with the rest > of the world is bandwidth. China has poor connectivity with the rest of the > world, and Chinese miners have said that an increase in the block size > would be detrimental to them. I say, GOOD! Most of the free world has > enough bandwidth to be able to handle larger blocks. We need to take > advantage of that fact to get mining out of the centralized control of the > Chinese. > > If you're truly worried about larger blocks causing centralization, think > about how, by restricting blocksize, you're enabling the Communist Chinese > government to maintain centralized control over 57% of the Bitcoin hashing > power. > > -- > *James G. Phillips IV* > > > > *"Don't bunt. Aim out of the ball park. Aim for the company of immortals." > -- David Ogilvy* > > *This message was created with 100% recycled electrons. Please think > twice before printing.* > > _______________________________________________ > bitcoin-dev mailing list > bitcoin-dev@lists.linuxfoundation.org > https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev > >