Hello, sorry if this is a dumb question or has already been answered in a place I'm failing to find, I'm wondering if there is there any knowledge (or speculation!) of the methodology which was used in the creation of the transaction?

Many thanks

pseudospace.

If I'm honest I don' think so. However having such a large % of the network controlled by such a small number of pools fundamentally goes against the principles of a decentralized network.


Safe from the attack, but (unless you act quickly) not safe from the inevitable market crash that would follow news of Bitcoin undergoing a 51% attack.

It's interesting to think about. I really doubt anything will change for the better (I imagine the issue will likely worsen over time) unless smaller pools are able to come up with incentives to effectively pull in miners.

This issue isn't just to limited to Bitcoin, I believe Monero has a similar issue with the majority of hashrate tied up in a minority of pools. It's unfortunate to see Bitcoin's decentralization slowly being crushed by these pools.

Yeah I'm kind of lost on what the appeal is, guessing it's simply a case of people going with the most well known option, without full knowledge of the impact their decision is having on the network. Kind of raises questions about the barrier of entry for mining being too low for those with large amounts of money to spend, but lack fundamental knowledge of how Bitcoin works.

Absolutely.  Having incentives to move people away from the larger pools would be a very good start. I'm unfamiliar with what the appeal of these 2 pools are which draw such a large number of miners.

Cats all the way, dogs make too much noise.

Apologies if this is a topic which has already been extensively discussed, but does it not disturb anyone that in the last week ~55% of network hashrate has been shared between 2 pools? Maybe my judgement is incorrect but it seems like a disaster just waiting to happen. Is moving towards more asic resistant algorithms something which has been considering or is feesable?

It seems in the last couple of years mining has had a pretty dramatic shift into the hands of larger cooperations and governments.

Are my worries justified?

pseudospace.