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July 29, 2014, 05:57:40 PM
Last edit: July 29, 2014, 08:40:19 PM by steph13 |
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I am evaluating the feasibility of a large mine, at least 10PH, possibly 15. The objective of the project is:
1. To build a mine that is governed by strict rules that force it to reduce risks facing Bitcoin. E.g. commit to not associate with any pool with more than 40% of mining network, work with the community toward a replacement for the POW should a worthy successor be discovered)
2. To govern the mine with a board composed of ethical and experienced Bitcoin community members
3. To allow anyone holding bitcoins to lend bitcoins to the operation in exchange for an interest in the mine's output and anyone who wants to start cloud mining to do so at the lowest price available (with the aim of supporting adoption)
4. To allow application developers access to a % of the mining capacity to build and test applications (for ex - altcoins, vanity names, etc)
The mine would run a network of full bitcoin nodes located in North America, and conduct business according to published, transparent governance rules.
The purpose of this post is to solicit input on: a. which governance rules should be incorporated to ensure that the mine works in the best interests of the broader Bitcoin community and b. which risks the mine should be focused on mitigating.
I appreciate your input and feedback.
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