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1603d
Is it in any way possible to avoid mining centralization in any PoW algorithm? Do we need an identity based mining algorithm to achieve a more widespread distribution and participation? @Dashpay #realbitcoinclub
replied 1603d
Yes there is. Make it so that 1 CPU = 1 vote, the way Satoshi envisioned. That means no ASICs/GPUs. And that is exactly what has been implemented.
https://github.com/tevador/RandomX
replied 1603d
But what about these who simply rent cloud computers or have botnets giving them an advantage in that 1 CPU = 1 vote race? Isnt it fairer to have a 1 identity = 1 vote system?
replied 1602d
To stop a single actor from controlling 51% of the hashes, make it hard for 1 person to produce a million more hashes with the same electricity bill. ASICS give that leverage, not CPUs
replied 1603d
I was just about to respond with a RandomX link hehe

you beat me to it!
replied 1603d
Actually, GPU is the most optimal hardware. (widely available, reliable vendors, lowers the barrier of entry). CPU based mining is not secure due to the amount of CPU botnets.
replied 1603d
GPU, CPU or RAM. In the end these owning machines will aquire more machines to outnumber humans. A minority will rule over the majority. ID based mining distribution could change that.
replied 1602d
"CPU based mining is not secure due to [...] CPU botnets" This displays a complete lack of understanding of how PoW works. As long as the botnets are not colluding they ADD security
replied 1602d
Also if he actually read over RandomX he would see that this algo requires a decent amount of RAM which would make infections/botnets easy to detect as well as exclude IoT&low-end PCs
replied 1603d
Look up 'Economies of scale'. Thinking that any network should aim for getting everyone to mine is an unrealistic, socialist retardation. Satoshi had a different vision and concept.
replied 1603d
His concept and vision is realistic and viable. What crypto-communists want (everyone to run nodes/miners) is so fucking stupid, it's not even funny. A product of binary thinking.