Can we change the mining protocol ?

[mysidia]

No, the IP/port the miners connect to can be different from the IP the pool broadcasts the finished block from.

The thought occurs to change mining -- to require an additional digital signature, so that knowledge of the secret key is required of the recipient address(es)  that newly generated coins are to be output to,  before a candidate block can be tested against the hash target, to see if it is a proper solution.

This makes it difficult to pool resources, since it ensures the 'solver'  of the block has enough information to spend all the coins generated in the block that they solved.

[notbatman]

My block eruptors are off-line. I'm all for changing the encryption to a CPU only algorithm.

Good, you're on board. Now we just need all the miners who have invested millions in ASICs to agree to make that investment worthless and we can make it happen.

Considering that all the ASIC companies have decided to keep those millions and not deliver any product I don't see too many miners being upset.

[Harley997]

My block eruptors are off-line. I'm all for changing the encryption to a CPU only algorithm.

Good, you're on board. Now we just need all the miners who have invested millions in ASICs to agree to make that investment worthless and we can make it happen.

Considering that all the ASIC companies have decided to keep those millions and not deliver any product I don't see too many miners being upset.

This would not necessarily cause ASICs to become bricks.

[notbatman]

My block eruptors are off-line. I'm all for changing the encryption to a CPU only algorithm.

Good, you're on board. Now we just need all the miners who have invested millions in ASICs to agree to make that investment worthless and we can make it happen.

Considering that all the ASIC companies have decided to keep those millions and not deliver any product I don't see too many miners being upset.

This would not necessarily cause ASICs to become bricks.

If enough time was given between the announced change and the hard-fork current miners could ROI. The established chip makers such as AMD and Intel don't seem to have any issues delivering product.

[Harley997]

My block eruptors are off-line. I'm all for changing the encryption to a CPU only algorithm.

Good, you're on board. Now we just need all the miners who have invested millions in ASICs to agree to make that investment worthless and we can make it happen.

Considering that all the ASIC companies have decided to keep those millions and not deliver any product I don't see too many miners being upset.

This would not necessarily cause ASICs to become bricks.

If enough time was given between the announced change and the hard-fork current miners could ROI. The established chip makers such as AMD and Intel don't seem to have any issues delivering product.

As long as the protocol still uses SHA-256 algo the ASICs (designed for bitcoin) would still work. 

[notbatman]

My block eruptors are off-line. I'm all for changing the encryption to a CPU only algorithm.

Good, you're on board. Now we just need all the miners who have invested millions in ASICs to agree to make that investment worthless and we can make it happen.

Considering that all the ASIC companies have decided to keep those millions and not deliver any product I don't see too many miners being upset.

This would not necessarily cause ASICs to become bricks.

If enough time was given between the announced change and the hard-fork current miners could ROI. The established chip makers such as AMD and Intel don't seem to have any issues delivering product.

As long as the protocol still uses SHA-256 algo the ASICs (designed for bitcoin) would still work. 

SHA256 still works if PoS is the only mining mechanism.

[franky1]

POS only works on altcoins that have been fairly pre-distributed.

otherwise the rich get richer and those with nothing continue to get nothing.

if bitcoin was to move over to POS then only bitcoin theives (karpales) and holders of exchange cold stores would get the coins. leaving average people with dust amounts.

POW is the best way, just like gold mining. if you can afford to buy the equipment you deserve the rewards
those that cant afford asic farms, just a few asics can atleast get more dust per block, than what POS would ever offer them.

POS is for hoarders who dont want to do any work or pay their electricity bills... pure lazy and greed


..moving on

[notbatman]

POS only works on altcoins that have been fairly pre-distributed.

otherwise the rich get richer and those with nothing continue to get nothing.

if bitcoin was to move over to POS then only bitcoin theives (karpales) and holders of exchange cold stores would get the coins. leaving average people with dust amounts.

POW is the best way, just like gold mining. if you can afford to buy the equipment you deserve the rewards
those that cant afford asic farms, just a few asics can atleast get more dust per block, than what POS would ever offer them.

POS is for hoarders who dont want to do any work or pay their electricity bills... pure lazy and greed


..moving on

I'm just a little sore about the situation being a Black Arrow Labs customer. I'm willing to entertain any solution to the current centralization threats with exchanges, pools and ASIC manufacturers run by bad actors.

[Cicero2.0]

Not sure there is a solution to the this "problem" that doesn't fundamentally change the idea behind bit coin. You can't punish people for having the money to buy equipment.   

[notbatman]

Not sure there is a solution to the this "problem" that doesn't fundamentally change the idea behind bit coin. You can't punish people for having the money to buy equipment.   

Sure you can, just take their money and don't deliver their equipment.