Bitcoin Forum
September 19, 2018, 02:28:41 AM *
News: ♦♦ Bitcoin Core users must update to 0.16.3 [Torrent]. More info.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: Segwit Affect on Mining? - Sorry if this has been asked before but...  (Read 2144 times)
Donho84
Newbie
*
Offline Offline

Activity: 14
Merit: 0


View Profile
December 01, 2016, 06:29:44 PM
 #1

Is segregated witness going to affect mining and if so, how?
I'm in a pool on Genesis and am trying to decide if I should increase my hash power or, if it is getting too expensive to be profitable?
Thanks in advance for all your answers. 
1537324121
Hero Member
*
Offline Offline

Posts: 1537324121

View Profile Personal Message (Offline)

Ignore
1537324121
Reply with quote  #2

1537324121
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1537324121
Hero Member
*
Offline Offline

Posts: 1537324121

View Profile Personal Message (Offline)

Ignore
1537324121
Reply with quote  #2

1537324121
Report to moderator
1537324121
Hero Member
*
Offline Offline

Posts: 1537324121

View Profile Personal Message (Offline)

Ignore
1537324121
Reply with quote  #2

1537324121
Report to moderator
1537324121
Hero Member
*
Offline Offline

Posts: 1537324121

View Profile Personal Message (Offline)

Ignore
1537324121
Reply with quote  #2

1537324121
Report to moderator
-ck
Moderator
Legendary
*
Offline Offline

Activity: 2646
Merit: 1142


Ruu \o/


View Profile WWW
December 01, 2016, 08:41:10 PM
 #2

Mining pools need to update their configuration and software to work in concert with segwit, otherwise they're unable to support it. Actual miners with hardware it makes no difference to them as all the work is done at the pool level, unless you're one of the rare few who wish to mine solo for yourself, in which case the onus falls on the miner to do what the pool would otherwise do for them.

Developer/maintainer for cgminer and ckpool/ckproxy.
ZERO FEE Pooled mining at ckpool.org, 1% Fee Solo mining at solo.ckpool.org
-ck
Donho84
Newbie
*
Offline Offline

Activity: 14
Merit: 0


View Profile
December 02, 2016, 02:21:01 AM
 #3

Thanks!
Eric Mu
Sr. Member
****
Offline Offline

Activity: 470
Merit: 500


View Profile
December 02, 2016, 03:31:35 PM
 #4

Is segregated witness going to affect mining and if so, how?
I'm in a pool on Genesis and am trying to decide if I should increase my hash power or, if it is getting too expensive to be profitable?
Thanks in advance for all your answers.  

I think Luke Dash Jr. a Core dev threatened to switch SHA256 if large miners block adoption of sigwit. So if Core doesn't get their way, your miners can potentially turn into junk if the dev meant business.
Donho84
Newbie
*
Offline Offline

Activity: 14
Merit: 0


View Profile
December 02, 2016, 07:27:07 PM
 #5

Eric - That is interesting.  Where can I track that conversation?  Thanks!
Eric Mu
Sr. Member
****
Offline Offline

Activity: 470
Merit: 500


View Profile
December 03, 2016, 12:05:46 AM
 #6

Eric - That is interesting.  Where can I track that conversation?  Thanks!

Can't find the original, but it was widely discussed:

https://www.reddit.com/r/bitcoin_uncensored/comments/42l6fi/anyone_know_why_they_are_considering_changing_the/
RocketSingh
Legendary
*
Offline Offline

Activity: 1503
Merit: 1000


View Profile
December 03, 2016, 12:32:18 AM
 #7

Eric - That is interesting.  Where can I track that conversation?  Thanks!

Can't find the original, but it was widely discussed:

https://www.reddit.com/r/bitcoin_uncensored/comments/42l6fi/anyone_know_why_they_are_considering_changing_the/

If I am not wrong, Luke suggested it in response to the 2mb HF. He said, if we are hard forking for block size, then at the same time, we should also change the mining algorithm to beat mining centralization due to ASIC. He probably never suggested it to cut-off miners against Segwit.

In fact, Luke recently said Miners SHOULD NOT signal segwit if the community is not in widespread agreement that it is a good idea.

Eric Mu
Sr. Member
****
Offline Offline

Activity: 470
Merit: 500


View Profile
December 03, 2016, 01:54:49 AM
 #8

Eric - That is interesting.  Where can I track that conversation?  Thanks!

Can't find the original, but it was widely discussed:

https://www.reddit.com/r/bitcoin_uncensored/comments/42l6fi/anyone_know_why_they_are_considering_changing_the/

If I am not wrong, Luke suggested it in response to the 2mb HF. He said, if we are hard forking for block size, then at the same time, we should also change the mining algorithm to beat mining centralization due to ASIC. He probably never suggested it to cut-off miners against Segwit.

In fact, Luke recently said Miners SHOULD NOT signal segwit if the community is not in widespread agreement that it is a good idea.

I think Luke more than suggested it, he actually inserted a piece of code into the Core library that capable of turning the miners into bricks. Yes, it may not be segwit-specific, but segwit is one of the main arsenals against onchain blocksize increase.
kano
Legendary
*
Offline Offline

Activity: 2576
Merit: 1053


Linux since 1997 RedHat 4


View Profile
December 03, 2016, 04:05:41 AM
 #9

Eric - That is interesting.  Where can I track that conversation?  Thanks!

Can't find the original, but it was widely discussed:

https://www.reddit.com/r/bitcoin_uncensored/comments/42l6fi/anyone_know_why_they_are_considering_changing_the/

If I am not wrong, Luke suggested it in response to the 2mb HF. He said, if we are hard forking for block size, then at the same time, we should also change the mining algorithm to beat mining centralization due to ASIC. He probably never suggested it to cut-off miners against Segwit.

In fact, Luke recently said Miners SHOULD NOT signal segwit if the community is not in widespread agreement that it is a good idea.

I think Luke more than suggested it, he actually inserted a piece of code into the Core library that capable of turning the miners into bricks. Yes, it may not be segwit-specific, but segwit is one of the main arsenals against onchain blocksize increase.
Remember you are talking about someone who has a few screws loose, don't take too much notice of him.

Pool: https://kano.is Here on Bitcointalk: Forum BTC: 1KanoPb8cKYqNrswjaA8cRDk4FAS9eDMLU
FreeNode IRC: irc.freenode.net channel #kano.is Majority developer of the ckpool code
Help keep Bitcoin secure by mining on pools with full block verification on all blocks - and NO empty blocks!
Donho84
Newbie
*
Offline Offline

Activity: 14
Merit: 0


View Profile
December 04, 2016, 02:51:53 AM
 #10

Kano - Who are you referring to?  For my clarification.
Quickseller
Copper Member
Legendary
*
Offline Offline

Activity: 1540
Merit: 1149


Hire BOUNTYPORTALS>Bounty management goo.gl/pSzJuA


View Profile WWW
December 04, 2016, 06:02:10 AM
 #11

SegWit should in theory allow for the miners to collect more transaction fees because more transactions can be included in each block.  

One might think this would be a no brainer for miners to accept however down the line, SegWit will probably result in LN taking a large percentage of transaction fees via off chain LN transactions.

The miners will also receive a higher amount of transaction fees with a larger maximum block size without the risk of LN taking TX fees down the line.

3PjXm2XYDKLV5mN3oiKzNTyVvSkqP3ujeq <-- tipping address Advertise here
adaseb
Legendary
*
Offline Offline

Activity: 1722
Merit: 1086



View Profile
December 04, 2016, 10:40:43 AM
 #12

Isn't it up to the miners to decide if they want to change the algo? If they can decide to change it why would they do it since it would hurt their profits?


.FORTUNE.JACK.
      ▄▄███████▄▄
   ▄████▀▀ ▄ ██████▄
  ████ ▄▄███ ████████
 █████▌▐███▌ ▀▄ ▀█████
███████▄██▀▀▀▀▄████████
█████▀▄▄▄▄█████████████
████▄▄▄▄ █████████████
 ██████▌ ███▀████████
  ███████▄▀▄████████
   ▀█████▀▀███████▀
      ▀▀██████▀▀
         
         █
...FortuneJack.com                                             
...THE BIGGEST BITCOIN GAMBLING SITE
       ▄▄█████████▄▄
    ▄█████████████████▄
  ▄█████████████████████▄
 ▄██
█████████▀███████████▄
██████████▀   ▀██████████
█████████▀       ▀█████████
████████           ████████
████████▄   ▄ ▄   ▄████████
██████████▀   ▀██████████
 ▀██
█████████████████████▀
  ▀██
███████████████████▀
    ▀█████████████████▀
       ▀▀█████████▀▀
#JACKMATE
WIN 1 BTC
▄█████████████████████████▄
███████████████████████████
███████████████████████████
██████████▀█████▀██████████
███████▀░░▀░░░░░▀░░▀███████
██████▌░░░░░░░░░░░░░▐██████
██████░░░░██░░░██░░░░██████
█████▌░░░░▀▀░░░▀▀░░░░▐█████
██████▄░░▄▄▄░░░▄▄▄░░▄██████
████████▄▄███████▄▄████████

███████████████████████████
███████████████████████████
▀█████████████████████████▀
kano
Legendary
*
Offline Offline

Activity: 2576
Merit: 1053


Linux since 1997 RedHat 4


View Profile
December 04, 2016, 02:59:41 PM
 #13

Kano - Who are you referring to?  For my clarification.
The guy with the L name.

Pool: https://kano.is Here on Bitcointalk: Forum BTC: 1KanoPb8cKYqNrswjaA8cRDk4FAS9eDMLU
FreeNode IRC: irc.freenode.net channel #kano.is Majority developer of the ckpool code
Help keep Bitcoin secure by mining on pools with full block verification on all blocks - and NO empty blocks!
VentMine
Full Member
***
Offline Offline

Activity: 229
Merit: 100


View Profile
December 04, 2016, 07:52:59 PM
 #14

So for the lightning network enabled by Segwit, who get's the transaction fees processed by the lightning network? Does it just roll up into the main blockchain and therefore go to the miners?

Thx

1ESSdoVYKm8sNtYMfdkFBajhAe2e6G8keH
Donho84
Newbie
*
Offline Offline

Activity: 14
Merit: 0


View Profile
December 07, 2016, 03:38:00 AM
 #15

Kano - TY
pineapples
Legendary
*
Offline Offline

Activity: 1190
Merit: 1000


to your stations, man the pineapples!!!


View Profile
December 19, 2016, 03:09:18 AM
 #16

given the amount of asics currently mining,
would it be possible to change the algo without those miners refusing to allow it?



YEEE F*#KIN HA BIG RED TEXT !!!           

(\__/)    
(='.'=)   
(")_(")   










     BUMBA
-ck
Moderator
Legendary
*
Offline Offline

Activity: 2646
Merit: 1142


Ruu \o/


View Profile WWW
December 19, 2016, 04:41:01 AM
 #17

given the amount of asics currently mining,
would it be possible to change the algo without those miners refusing to allow it?
That would just create an insignificant small fork with the new algo while the main blockchain remained on the standard algorithm. Realistically it would be impossible to get a consensus that would make the existing miners abandon their algorithm.

Developer/maintainer for cgminer and ckpool/ckproxy.
ZERO FEE Pooled mining at ckpool.org, 1% Fee Solo mining at solo.ckpool.org
-ck
pineapples
Legendary
*
Offline Offline

Activity: 1190
Merit: 1000


to your stations, man the pineapples!!!


View Profile
December 21, 2016, 03:37:35 AM
 #18

given the amount of asics currently mining,
would it be possible to change the algo without those miners refusing to allow it?
That would just create an insignificant small fork with the new algo while the main blockchain remained on the standard algorithm. Realistically it would be impossible to get a consensus that would make the existing miners abandon their algorithm.

seems like a pipe dream then :p

it's quite interesting the way BTC Core manages many forks, with the hard coded conditions that once a certain % of miners are on that code the fork takes place,
obviously they could do the same for an algo shift, but i cant see all those farms switching over Smiley



YEEE F*#KIN HA BIG RED TEXT !!!           

(\__/)    
(='.'=)   
(")_(")   










     BUMBA
Donho84
Newbie
*
Offline Offline

Activity: 14
Merit: 0


View Profile
January 07, 2017, 12:19:16 AM
 #19

So what is the general consensus now regarding segwit?  Is it happening or DOA?
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!