Am I the only miner who feels disgusted by the talk of PoW change?

[David Rabahy]

One can imagine increasing the block size limit from 1MB to 2MB (or any other value) whilst capping the size of transactions to say 1MB.

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[ajareselde]

Its was far more disturbing when asics first came online, i regret that pow change didnt happen in start. I know a lot of people have they money
in asics and for that reason dont want algo change, but as it is, whole bitcoin community is in the hands of few asic producers, which is one of the worst scenarios possible.

[VentMine]

Its was far more disturbing when asics first came online, i regret that pow change didnt happen in start. I know a lot of people have they money
in asics and for that reason dont want algo change, but as it is, whole bitcoin community is in the hands of few asic producers, which is one of the worst scenarios possible.

If we could restart, how would you change it to prevent centralization? Centralization is largely due to low cost power, ASIC's and access to ASIC's aside.

[Amph]

Its was far more disturbing when asics first came online, i regret that pow change didnt happen in start. I know a lot of people have they money
in asics and for that reason dont want algo change, but as it is, whole bitcoin community is in the hands of few asic producers, which is one of the worst scenarios possible.

If we could restart, how would you change it to prevent centralization? Centralization is largely due to low cost power, ASIC's and access to ASIC's aside.

asic are indeed the culprit, and always lead the centralization, because when you have something that hash so fast and can be produced by the same company who hold the big farm, you now that this is not decentralized anymore

cpu coin are also bad, and worse than asic, because a random dude could use aws instances to own a large amount of hash in no time and centralized the mining activity

the only good solution is always and only be the gpu mining, and to prevent asic indefinitely you can just change regularely the algo, maybe the code need to be done in a way to not force an hard fork everytime you want to change the algo to prevent asic mining

[Unacceptable]

Its was far more disturbing when asics first came online, i regret that pow change didnt happen in start. I know a lot of people have they money
in asics and for that reason dont want algo change, but as it is, whole bitcoin community is in the hands of few asic producers, which is one of the worst scenarios possible.

Holy crap,someone gets it!!! CENTRALIZATION,you guys cry about it,but buy right into it!!!

Let the Corp miners have Bitcoin,mining at home has been over for awhile now,get some GPUs & lets get an ASIC resistant coin going along with Bitcoin 

Here's hoping the algo change DOES happen to Bitcoin & we can go back to a time where EVERYONE had a chance to mine & take part in Bitcoin 

[European Central Bank]

i don't care about miners and their investments in hardware. i care about the health of bitcoin itself. if a pow change improves that then i'm all for it, but i don't really see how centralisation can ever go away now so it's kinda pointless.

if a pow change allows a downgrade in machinery then deep pockets buy more of that machinery than anyone else.

the industrial miners would still have the cheapest power, premises and labor.

You're first mistake was going to /r/bitcoin and expecting something coherent. Stay away from that place. It is nothing but garbage. If you really want to stick to reddit, go to /r/btc.

did you write that for a bet?

[znggurj]

cpu coin are also bad, and worse than asic, because a random dude could use aws instances to own a large amount of hash in no time and centralized the mining activity

Well, is a GPU coin also bad then? A random dude can use AWS GPU instances to own a large amount of hash in no time.
https://aws.amazon.com/ec2/Elastic-GPUs/

[Unacceptable]

cpu coin are also bad, and worse than asic, because a random dude could use aws instances to own a large amount of hash in no time and centralized the mining activity

Well, is a GPU coin also bad then? A random dude can use AWS GPU instances to own a large amount of hash in no time.
https://aws.amazon.com/ec2/Elastic-GPUs/

LMAO I don't think it works like you guys think it does   

[znggurj]

cpu coin are also bad, and worse than asic, because a random dude could use aws instances to own a large amount of hash in no time and centralized the mining activity

Well, is a GPU coin also bad then? A random dude can use AWS GPU instances to own a large amount of hash in no time.
https://aws.amazon.com/ec2/Elastic-GPUs/

LMAO I don't think it works like you guys think it does   

https://i.imgur.com/urEk9do.jpg

I was refuting Amph's claim, not agreeing with him.

[Amph]

cpu coin are also bad, and worse than asic, because a random dude could use aws instances to own a large amount of hash in no time and centralized the mining activity

Well, is a GPU coin also bad then? A random dude can use AWS GPU instances to own a large amount of hash in no time.
https://aws.amazon.com/ec2/Elastic-GPUs/

no they are not as efficient as cpu aws instances, they are far worse, inf act you don't see it often used, instead aws instaces are perfect for cpu coin, but they will centralized the hashrate too much and kill the coin

[znggurj]

cpu coin are also bad, and worse than asic, because a random dude could use aws instances to own a large amount of hash in no time and centralized the mining activity

Well, is a GPU coin also bad then? A random dude can use AWS GPU instances to own a large amount of hash in no time.
https://aws.amazon.com/ec2/Elastic-GPUs/

no they are not as efficient as cpu aws instances, they are far worse, inf act you don't see it often used, instead aws instaces are perfect for cpu coin, but they will centralized the hashrate too much and kill the coin

I can't comment on mining cryptocurrency with AWS, but I've had a lot of luck running hashcat on Amazon P2 instances.

[kano]

Regarding the quadratic FUD ... it's also called scare tactics.
https://bitcointalk.org/index.php?topic=1845344.msg18378928#msg18378928

[RentGPU]

Electricity rates don't centralize mining, infact the difficulty of gpu mining can't be centralized , even if you have the large investment budget you can't setup a gpu mining farm like what we see in asics farms , gpu is the best and most healthy mining requires alot of effort,handling and experience , not just a plug and play , some hardware knowledge and calculations is required , and i wish bitcoin can be gpu minable again.

[abbaw]

Electricity rates don't centralize mining, infact the difficulty of gpu mining can't be centralized , even if you have the large investment budget you can't setup a gpu mining farm like what we see in asics farms , gpu is the best and most healthy mining requires alot of effort,handling and experience , not just a plug and play , some hardware knowledge and calculations is required , and i wish bitcoin can be gpu minable again.

still makes sense to use GPU power for ETH and ZEC mining, and yes, I do wish BTC could be mined on GPUs again but that is just wishful thinking. lol.

[VentMine]

Electricity rates don't centralize mining, infact the difficulty of gpu mining can't be centralized , even if you have the large investment budget you can't setup a gpu mining farm like what we see in asics farms , gpu is the best and most healthy mining requires alot of effort,handling and experience , not just a plug and play , some hardware knowledge and calculations is required , and i wish bitcoin can be gpu minable again.

Why couldn't you set up a large, industrial warehouse full of GPU's? One, with a big budget and low cost power, can not only get bulk discount on the GPU's but mine at a lower cost than the home-miner. Seems to me that even GPU mining would become centralized like this ASIC era.

[Joint Force]

I mined PoW and now do PoS. I love it. Now I'm wodering if any PoS mined coin has segwit?
https://twitter.com/jessecouch/status/852318259718127617

I still love PoW but it's almost useless for small start up coins. For bitcoin PoW works amazingly. I think bitcoin should remain PoW for as long as possible. At some point I would assume it has to switch to PoS but maybe not.

Another scenario might be where a bunch of PoS blockchains with fast transactions form in addition to bitcoin. Those blockchains would sync again for more security on the PoW bitcoin blockchain.

[RentGPU]

Electricity rates don't centralize mining, infact the difficulty of gpu mining can't be centralized , even if you have the large investment budget you can't setup a gpu mining farm like what we see in asics farms , gpu is the best and most healthy mining requires alot of effort,handling and experience , not just a plug and play , some hardware knowledge and calculations is required , and i wish bitcoin can be gpu minable again.

Why couldn't you set up a large, industrial warehouse full of GPU's? One, with a big budget and low cost power, can not only get bulk discount on the GPU's but mine at a lower cost than the home-miner. Seems to me that even GPU mining would become centralized like this ASIC era.

It's difficult to centralize gpu mining because of the large space needed and handling , you will be limited with mobos and psu , there is so many limits and costs not like asics, i don't say you can't but i say it's difficult

[kano]

Pointless discussion - GPUs are ASICs

If someone makes a GPU scam coin, and if it ever actually got worth anything, then you just make an ASIC to mine it.

[Amph]

Pointless discussion - GPUs are ASICs

If someone makes a GPU scam coin, and if it ever actually got worth anything, then you just make an ASIC to mine it.

but you can effectively change the algo again and again to make asic worthless, gpu can instead adapt to the new change making it more flexible and not worthless after the algo is changed

in fact no one is building asic for vertcoin, which is the coin that did this to avoid asic mining, bitcoin would have been more decentralized for sure with gpu, the diff would also be much lower and this would allow casual mining

[fathur.aza]

The important thing I mine wrote and got the results with my own performance