|
Title: [2015-07-23] New Cornell Paper Suggests Mining Pools Will Shrink in Size Post by: LiteCoinGuy on July 23, 2015, 06:18:18 AM New Cornell Paper Suggests Mining Pools Will Shrink in Size
A newly published Cornell University paper suggests that Bitcoin mining pools should eventually become smaller in size. The author, Ittay Eyal, comes to this conclusion because he believes pools are incentivized to attack each other through a block withholding attack, making it risky to allow any unidentified miners to contribute to pooled mining. http://cointelegraph.com/news/114918/new-cornell-paper-suggests-mining-pools-will-shrink-in-size Title: Re: [2015-07-23] New Cornell Paper Suggests Mining Pools Will Shrink in Size Post by: gogxmagog on July 23, 2015, 07:35:55 AM I could see it all evening out, considering difficulty and private mining moving in. I don't know how much any would shrink. Big money will turn their miners on or off depending on profitability.
It's the way the mind my system is supposed to work. There is supposed to be incentive NOT to monopolize, but go tell that to greedy investors... TL;DR they won't shrink but their growth will taper off until every pool owns equal share of hash rate. |