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Author Topic: Who has the voting right? miners or the pool  (Read 875 times)
sunszl (OP)
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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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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.

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Aleš Janda
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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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February 02, 2014, 04:59:08 PM
 #4

Solo mine = the better option.
whtchocla7e
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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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February 02, 2014, 06:13:53 PM
 #6

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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February 02, 2014, 06:16:11 PM
 #7

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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February 14, 2014, 02:37:33 AM
 #8

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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February 14, 2014, 02:39:02 AM
 #9

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
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February 14, 2014, 12:06:42 PM
 #10

depends.  are u in Adolph Hitlers pool
or the Democratic pool
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