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Who has the voting right? miners or the pool
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Topic: Who has the voting right? miners or the pool (Read 882 times)
sunszl
(OP)
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Who has the voting right? miners or the pool
February 02, 2014, 01:56:47 PM
#1
I read the bitcoin genesis paper.
It's said that who did the proof of work has the voting right. But actually miners only have mining tools which only connect to the pool. Is that means the pool have the right to vote for the Tx.
davidpbrown
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Vires in Numeris
Re: Who has the voting right? miners or the pool
February 02, 2014, 02:03:45 PM
#2
It would be best if miners act independently. Perhaps someone can suggest that p2p mining is a solution, I don't know enough about that; certainly that seems better option than large pools that then risk dominating any actions that are taken by miners en masse. If you join a group, then perhaps necessarily you cede some control over what happens - not everyone can have their way.
฿://12vxXHdmurFP3tpPk7bt6YrM3XPiftA82s
Aleš Janda
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⇾
Re: Who has the voting right? miners or the pool
February 02, 2014, 04:55:50 PM
#3
Pool owners have voting rights. They make decisions, miners only sign it.
But it´s democracy - when miner don´t agree with pool´s decisions, he can simply mine at another pool. Or he can mine itself. Or he can create own pool, take people with the same opinions and they mine themselves.
However, there are very few things what pools can change, i.e. only if some transaction will be in this block or not.
bitbitz
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Re: Who has the voting right? miners or the pool
February 02, 2014, 04:59:08 PM
#4
Solo mine = the better option.
whtchocla7e
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Worlds Simplest Cryptocurrency Wallet
Re: Who has the voting right? miners or the pool
February 02, 2014, 05:54:14 PM
#5
Most people give up their voting rights for a tiny bit of profit.
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Holliday
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Re: Who has the voting right? miners or the pool
February 02, 2014, 06:13:53 PM
#6
Quote from: bitbitz on February 02, 2014, 04:59:08 PM
Solo mine = the better option.
There is a pool designed to function like solo mining where you keep your voting rights, yet it has the variance reduction in payouts like a pool.
P2Pool.
If you aren't the sole controller of your private keys, you don't have any bitcoins.
Holliday
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Re: Who has the voting right? miners or the pool
February 02, 2014, 06:16:11 PM
#7
Quote from: whtchocla7e on February 02, 2014, 05:54:14 PM
Most people give up their voting rights for a tiny bit of profit.
Actually, most people are actually
paying
to give up their voting rights.
You can set up P2Pool and merge mine as many coins with the same algorithm as you like. You can do it without the fee. Once you've understood and accepted variance, you realize that you will earn more profit this way.
If you aren't the sole controller of your private keys, you don't have any bitcoins.
sunszl
(OP)
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Re: Who has the voting right? miners or the pool
February 14, 2014, 02:37:33 AM
#8
Quote from: Holliday on February 02, 2014, 06:13:53 PM
Quote from: bitbitz on February 02, 2014, 04:59:08 PM
Solo mine = the better option.
There is a pool designed to function like solo mining where you keep your voting rights, yet it has the variance reduction in payouts like a pool.
P2Pool.
P2P mining makes no difference.
P2P miners can mine without the blockchain files on their computer. How can their vote without the transaction records.
Holliday
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Activity: 1120
Merit: 1012
Re: Who has the voting right? miners or the pool
February 14, 2014, 02:39:02 AM
#9
Quote from: sunszl on February 14, 2014, 02:37:33 AM
Quote from: Holliday on February 02, 2014, 06:13:53 PM
Quote from: bitbitz on February 02, 2014, 04:59:08 PM
Solo mine = the better option.
There is a pool designed to function like solo mining where you keep your voting rights, yet it has the variance reduction in payouts like a pool.
P2Pool.
P2P mining makes no difference.
P2P miners can mine without the blockchain files on their computer. How can their vote without the transaction records.
Umm no, you are misinformed. P2Pool miners need a full copy of the block chain.
If you aren't the sole controller of your private keys, you don't have any bitcoins.
jongameson
Member
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Activity: 84
Merit: 10
Re: Who has the voting right? miners or the pool
February 14, 2014, 12:06:42 PM
#10
depends. are u in Adolph Hitlers pool
or the Democratic pool
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