Damus
note1qd7xw...
waxwing profile picture
well but you'd have to define what you mean by 'completely centralized'? 40% or 50% one pool for example? i don't think that's 'completely', but anyway: even if we agree on an unambiguous definition, how do we measure it? maybe we successfully measure it and then they get cleverer about hiding it (which arguably already happened, as you have outlined). If we go by transaction censorship, this seems to be relatively new (last few years?), and it's not a great way of measuring either ...

re: 'has to come from somewhere', yeah. my point was that as it stands, that comes from nation states. to have it come from "the bitcoin community" (which doesn't really exist) seems kinda hard, especially now that bitcoin is a lot bigger than a decade ago.

I don't see it as 'this is all fine', just I think the potential 'oscillation' dynamic is probably pretty important.
3
Matt Corallo · 95w
40% on one pool and 70% across two where miners don’t have any real third option if they want reasonable stable payouts I’d definitely call “completely” :). Still my broader point stands I think, I don’t buy the “oscillation” argument unless something actually pushes back, which I jus...