praxeology_guy [ARCHIVE] on Nostr: 📅 Original date posted:2017-04-08 📝 Original message:ASICBOOST causes Bitcoin's ...
📅 Original date posted:2017-04-08
📝 Original message:ASICBOOST causes Bitcoin's PoW to become more memory/latency throttled instead of raw computation throttled.
There is the equation:
Power Cost + Captial Rent + Labor ~= block reward + fees
Capital Rent is a barrier to entry, and hence in desiring a more distributed system, we would like to minimize the Capital Rent portion of the equation.
Resolving memory/latency throttle requires a greater Captial Rent than raw computation throttle.
Hence (agreeing with Luke), ASICBOOST is not desirable, even if it wasn't a government enforced monopoly on mining.
Please let me know if I made a mistake.
Thanks,
Praxeology Guy
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📝 Original message:ASICBOOST causes Bitcoin's PoW to become more memory/latency throttled instead of raw computation throttled.
There is the equation:
Power Cost + Captial Rent + Labor ~= block reward + fees
Capital Rent is a barrier to entry, and hence in desiring a more distributed system, we would like to minimize the Capital Rent portion of the equation.
Resolving memory/latency throttle requires a greater Captial Rent than raw computation throttle.
Hence (agreeing with Luke), ASICBOOST is not desirable, even if it wasn't a government enforced monopoly on mining.
Please let me know if I made a mistake.
Thanks,
Praxeology Guy
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