timechainman on Nostr: TL;DR: Foundry’s dominance in Bitcoin mining isn’t about reducing variance, as ...
TL;DR:
Foundry’s dominance in Bitcoin mining isn’t about reducing variance, as most of its large-scale clients don’t need that. Instead, miners use Foundry because it helps them comply with regulations, making Bitcoin mining more palatable to lawyers, accountants, and shareholders. This “compliance by proxy” comes at a high cost, centralizing mining power and creating risks for Bitcoin’s decentralized nature. As Foundry’s share of the network grows, it raises concerns about censorship and control, yet miners stick with it because it simplifies their operations in a regulatory-heavy environment—even at the expense of Bitcoin’s core values of decentralization and resilience.
How do we fix this my brother?
Foundry’s dominance in Bitcoin mining isn’t about reducing variance, as most of its large-scale clients don’t need that. Instead, miners use Foundry because it helps them comply with regulations, making Bitcoin mining more palatable to lawyers, accountants, and shareholders. This “compliance by proxy” comes at a high cost, centralizing mining power and creating risks for Bitcoin’s decentralized nature. As Foundry’s share of the network grows, it raises concerns about censorship and control, yet miners stick with it because it simplifies their operations in a regulatory-heavy environment—even at the expense of Bitcoin’s core values of decentralization and resilience.
How do we fix this my brother?