Bitcoin Forum
January 18, 2019, 12:21:49 AM *
News: Latest Bitcoin Core release: 0.17.1 [Torrent]
 
   Home   Help Search Login Register More  
Pages: [1]
  Print  
Author Topic: Is 'trusted' centralized mining a myth?  (Read 41 times)
MrG1ne
Newbie
*
Offline Offline

Activity: 15
Merit: 0


View Profile
April 13, 2018, 05:08:46 PM
 #1

Going on the thought basis that a coin or blockchain project is targeting a certain industry, would that industry benefit or be corrupted by centralized mining?

For instance, there are already a few medical industry related blockchain projects out there, but should the mining of those chains be limited only to 'registered' or 'regulated'  (I know we don't like that word too much, but stay with me) medical institutions and organizations?

I mean, wouldn't that mean that the 'real' contributors to that industry are rewarded accordingly for helping that industry grow and that 'other' miners who wanted in on that chain would have to be an 'active' or 'approved' contributor to that industry?

In essence, having the chain run in a way that people are truly helping each other and each others industries instead of buying a load of mining gear only to make an ROI in USD or native FIAT currency.

Please don't take this personally either, but I am from a biased view that there are still a lot of people that are only into blockchain and crypto for the FIAT money, which just misses the point of btc and crypto all together and just defeats the purpose.  It's all good if people are getting rich, then using their FIAT to buy back in and truly invest into the blockchain/crypto economy, but if everybody is just in it to short and dump at the end of the day, so they can sell back into FIAT, then to me that just a part of the problem.

I mean how did you feel about Monero prohibiting use on ASIC on their chain?  Pros/Cons?  Is this not slightly centralizing the process, even if done by consensus?
PLAY NOW
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1547770909
Hero Member
*
Offline Offline

Posts: 1547770909

View Profile Personal Message (Offline)

Ignore
1547770909
Reply with quote  #2

1547770909
Report to moderator
jvdp
Hero Member
*****
Offline Offline

Activity: 924
Merit: 511



View Profile
April 13, 2018, 06:50:08 PM
 #2

Going on the thought basis that a coin or blockchain project is targeting a certain industry, would that industry benefit or be corrupted by centralized mining?

For instance, there are already a few medical industry related blockchain projects out there, but should the mining of those chains be limited only to 'registered' or 'regulated'  (I know we don't like that word too much, but stay with me) medical institutions and organizations?

I mean, wouldn't that mean that the 'real' contributors to that industry are rewarded accordingly for helping that industry grow and that 'other' miners who wanted in on that chain would have to be an 'active' or 'approved' contributor to that industry?

In essence, having the chain run in a way that people are truly helping each other and each others industries instead of buying a load of mining gear only to make an ROI in USD or native FIAT currency.

Please don't take this personally either, but I am from a biased view that there are still a lot of people that are only into blockchain and crypto for the FIAT money, which just misses the point of btc and crypto all together and just defeats the purpose.  It's all good if people are getting rich, then using their FIAT to buy back in and truly invest into the blockchain/crypto economy, but if everybody is just in it to short and dump at the end of the day, so they can sell back into FIAT, then to me that just a part of the problem.

I mean how did you feel about Monero prohibiting use on ASIC on their chain?  Pros/Cons?  Is this not slightly centralizing the process, even if done by consensus?

Just ASICs machines mate. I prefer to mine monero with the Zotac nividia cards. These gives better hashes to me than radeon amd cards whether it is Rx 470 or 570 cards. I am not sure after Japan how do you have the centralized mining in the other location since it is not a legal or illegal everywhere.

As of now you can get the cards called Zotac p100-102 cards. These cards giving nearly 54 MH on mining ethereum but not sure about the hashes on mining monero. Please check it cyptocompare to analyze it.

..bustadice..         ▄▄████████████▄▄
     ▄▄████████▀▀▀▀████████▄▄
   ▄███████████    ███████████▄
  █████    ████▄▄▄▄████    █████
 ██████    ████████▀▀██    ██████
██████████████████   █████████████
█████████████████▌  ▐█████████████
███    ██████████   ███████    ███
███    ████████▀   ▐███████    ███
██████████████      ██████████████
██████████████      ██████████████
 ██████████████▄▄▄▄██████████████
  ▀████████████████████████████▀
                     ▄▄███████▄▄
                  ▄███████████████▄
   ███████████  ▄████▀▀       ▀▀████▄
               ████▀      ██     ▀████
 ███████████  ████        ██       ████
             ████         ██        ████
███████████  ████     ▄▄▄▄██        ████
             ████     ▀▀▀▀▀▀        ████
 ███████████  ████                 ████
               ████▄             ▄████
   ███████████  ▀████▄▄       ▄▄████▀
                  ▀███████████████▀
                     ▀▀███████▀▀
           ▄██▄
           ████
            ██
            ▀▀
 ▄██████████████████████▄
██████▀▀██████████▀▀██████
█████    ████████    █████
█████▄  ▄████████▄  ▄█████
██████████████████████████
██████████████████████████
    ▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
    ▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
       ████████████
......Play......
Artlee87
Newbie
*
Offline Offline

Activity: 48
Merit: 0


View Profile
April 14, 2018, 02:54:04 PM
 #3

Honestly it will be a very long time before I can imagine the medical field and other huge centralized things to rely on blockchain tech/decentralization.
MrG1ne
Newbie
*
Offline Offline

Activity: 15
Merit: 0


View Profile
April 15, 2018, 12:59:27 PM
 #4


Just ASICs machines mate. I prefer to mine monero with the Zotac nividia cards. These gives better hashes to me than radeon amd cards whether it is Rx 470 or 570 cards. I am not sure after Japan how do you have the centralized mining in the other location since it is not a legal or illegal everywhere.

As of now you can get the cards called Zotac p100-102 cards. These cards giving nearly 54 MH on mining ethereum but not sure about the hashes on mining monero. Please check it cyptocompare to analyze it.


Thanks for the reply.  I know this is difficult question.

The advice you have given pertains more to the mining of Monero and is good information that I will take on board, however it does not answer the main question about how people feel about a certain level of centralization and weather or not it may be needed in certain instances to avoid bad actors on the chain.

I've looked up a few places to get those cards in the meantime Grin
Slava79
Member
**
Offline Offline

Activity: 183
Merit: 13

¯\_(ツ)_/¯


View Profile
April 15, 2018, 01:27:11 PM
 #5

If you are talking about permissioned blockchains, PoW mining has no sense there, imo.

If there are several trusted validators, they can achieve consensus using just Proof of Stake, without burning resources.


Building a JavaScript Smart Contracts Engine
Github | Site | Chat
lookbooker
Newbie
*
Offline Offline

Activity: 31
Merit: 0


View Profile
June 03, 2018, 11:05:30 PM
 #6

Right now there is something more expressive
Pages: [1]
  Print  
 
Jump to:  

Bitcointalk.org is not available or authorized for sale. Do not believe any fake listings.
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!