Jim Phillips [ARCHIVE] on Nostr: 📅 Original date posted:2015-08-03 📝 Original message:I realize that my argument ...
📅 Original date posted:2015-08-03
📝 Original message:I realize that my argument may have come across as anti-Chinese, but I can
assure you that my concerns are not nationalist or racist in nature, so I
apologize if they came across as such. I was raised under another
oppressive regime, the US government, so I am sympathetic to the problems
of the Chinese people.
I am in fact only concerned with the very real fact that a majority of the
Bitcoin network's hashing power is centralized within the political borders
of one country and consequently the entire Bitcoin economy is at risk of
political manipulation. I have seen frequent instances within my own
homeland where the government has seized control over private businesses
through draconian regulation. I have witnessed in other countries where
businesses are seized and nationalized more directly. I am concerned that
the Chinese government might decide to nationalize the Bitcoin mines within
its borders, and what they might do with 57% of the network hashing power.
If it were any other country I would be equally concerned. But it's not any
other country. It's China. And I don't trust the Chinese government any
more than I trust any other government not to take actions that might harm
Bitcoin.
On Aug 2, 2015 8:21 PM, "Pindar Wong" <pindar.wong at gmail.com> wrote:
> Dear Jim,
>
> Thank you for sharing your view w.r.t. the so called 'Chinese Miners'.
>
> Diversity of opinion, and mining, are IMHO both good and it's indeed a
> free world.... so others who wish to mine bitcoin should be encouraged to
> make the capital and technical investments to do so.
>
> May I ask what is your technical suggestion to move this discussion
> forward beyond your anti-Chinese/anti-China rhetoric? e.g. I would be
> particularly grateful if you could share your views w.r.t. colluding miner
> attacks in draft 0.5.9. of Joseph Poon and Thaddeus Dryja's 'Lightning
> network' paper, found here:-
>
> http://lightning.network/lightning-network-paper.pdf
>
> Respectfully,
>
> p.
>
>
>
> On Mon, Aug 3, 2015 at 4:02 AM, Jim Phillips via bitcoin-dev <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
>
>> China is a communist country. It is no secret that all "capitalist"
>> enterprises are essentially State controlled, or at the very least are
>> subject to nationalization should the State deem it necessary. Most ASIC
>> chips are manufactured in China, so they are cheap and accessible to
>> Chinese miners. Electricity is subsidized and essentially free. Cooling is
>> not an issue since large parts of China are mountainous and naturally cool.
>> In short the Chinese miners have HUGE advantages over all other mining
>> operations. This is probably why, between just the top 4 Chinese miners,
>> the People's Republic of China effectively controls 57% of all the Bitcoin
>> being mined.
>>
>> The ONLY disadvantage the Chinese miners have in competing with the rest
>> of the world is bandwidth. China has poor connectivity with the rest of the
>> world, and Chinese miners have said that an increase in the block size
>> would be detrimental to them. I say, GOOD! Most of the free world has
>> enough bandwidth to be able to handle larger blocks. We need to take
>> advantage of that fact to get mining out of the centralized control of the
>> Chinese.
>>
>> If you're truly worried about larger blocks causing centralization, think
>> about how, by restricting blocksize, you're enabling the Communist Chinese
>> government to maintain centralized control over 57% of the Bitcoin hashing
>> power.
>>
>> --
>> *James G. Phillips IV*
>> <https://plus.google.com/u/0/113107039501292625391/posts>;
>> <http://www.linkedin.com/in/ergophobe>;
>>
>> *"Don't bunt. Aim out of the ball park. Aim for the company of
>> immortals." -- David Ogilvy*
>>
>> *This message was created with 100% recycled electrons. Please think
>> twice before printing.*
>>
>> _______________________________________________
>> bitcoin-dev mailing list
>> bitcoin-dev at lists.linuxfoundation.org
>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>>
>>
>
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📝 Original message:I realize that my argument may have come across as anti-Chinese, but I can
assure you that my concerns are not nationalist or racist in nature, so I
apologize if they came across as such. I was raised under another
oppressive regime, the US government, so I am sympathetic to the problems
of the Chinese people.
I am in fact only concerned with the very real fact that a majority of the
Bitcoin network's hashing power is centralized within the political borders
of one country and consequently the entire Bitcoin economy is at risk of
political manipulation. I have seen frequent instances within my own
homeland where the government has seized control over private businesses
through draconian regulation. I have witnessed in other countries where
businesses are seized and nationalized more directly. I am concerned that
the Chinese government might decide to nationalize the Bitcoin mines within
its borders, and what they might do with 57% of the network hashing power.
If it were any other country I would be equally concerned. But it's not any
other country. It's China. And I don't trust the Chinese government any
more than I trust any other government not to take actions that might harm
Bitcoin.
On Aug 2, 2015 8:21 PM, "Pindar Wong" <pindar.wong at gmail.com> wrote:
> Dear Jim,
>
> Thank you for sharing your view w.r.t. the so called 'Chinese Miners'.
>
> Diversity of opinion, and mining, are IMHO both good and it's indeed a
> free world.... so others who wish to mine bitcoin should be encouraged to
> make the capital and technical investments to do so.
>
> May I ask what is your technical suggestion to move this discussion
> forward beyond your anti-Chinese/anti-China rhetoric? e.g. I would be
> particularly grateful if you could share your views w.r.t. colluding miner
> attacks in draft 0.5.9. of Joseph Poon and Thaddeus Dryja's 'Lightning
> network' paper, found here:-
>
> http://lightning.network/lightning-network-paper.pdf
>
> Respectfully,
>
> p.
>
>
>
> On Mon, Aug 3, 2015 at 4:02 AM, Jim Phillips via bitcoin-dev <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
>
>> China is a communist country. It is no secret that all "capitalist"
>> enterprises are essentially State controlled, or at the very least are
>> subject to nationalization should the State deem it necessary. Most ASIC
>> chips are manufactured in China, so they are cheap and accessible to
>> Chinese miners. Electricity is subsidized and essentially free. Cooling is
>> not an issue since large parts of China are mountainous and naturally cool.
>> In short the Chinese miners have HUGE advantages over all other mining
>> operations. This is probably why, between just the top 4 Chinese miners,
>> the People's Republic of China effectively controls 57% of all the Bitcoin
>> being mined.
>>
>> The ONLY disadvantage the Chinese miners have in competing with the rest
>> of the world is bandwidth. China has poor connectivity with the rest of the
>> world, and Chinese miners have said that an increase in the block size
>> would be detrimental to them. I say, GOOD! Most of the free world has
>> enough bandwidth to be able to handle larger blocks. We need to take
>> advantage of that fact to get mining out of the centralized control of the
>> Chinese.
>>
>> If you're truly worried about larger blocks causing centralization, think
>> about how, by restricting blocksize, you're enabling the Communist Chinese
>> government to maintain centralized control over 57% of the Bitcoin hashing
>> power.
>>
>> --
>> *James G. Phillips IV*
>> <https://plus.google.com/u/0/113107039501292625391/posts>;
>> <http://www.linkedin.com/in/ergophobe>;
>>
>> *"Don't bunt. Aim out of the ball park. Aim for the company of
>> immortals." -- David Ogilvy*
>>
>> *This message was created with 100% recycled electrons. Please think
>> twice before printing.*
>>
>> _______________________________________________
>> bitcoin-dev mailing list
>> bitcoin-dev at lists.linuxfoundation.org
>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>>
>>
>
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