Jared Lee Richardson [ARCHIVE] on Nostr: 📅 Original date posted:2017-04-09 📝 Original message:I can speak from personal ...
📅 Original date posted:2017-04-09
📝 Original message:I can speak from personal experience regarding another very prominent
altcoin that attempted to utilize an asic-resistant proof of work
algorithm, it is only a matter of time before the "asic resistant"
algorithm gets its own Asics. The more complicated the algorithm, the more
secretive the asic technology is developed. Even without it,
multi-megawatt gpu farms have already formed in the areas of the world with
low energy costs. I'd support the goal if I thought it possible, but I
really don't think centralization of mining can be prevented.
On Apr 9, 2017 1:16 PM, "Erik Aronesty via bitcoin-dev" <
bitcoin-dev at lists.linuxfoundation.org> wrote:
> Curious: I'm not sure why a serious discussion of POW change is not on the
> table as a part of a longer-term roadmap.
>
> Done right, a ramp down of reliance on SHA-256 and a ramp-up on some of
> the proven, np-complete graph-theoretic or polygon manipulation POW would
> keep Bitcoin in commodity hardware and out of the hands of centralized
> manufacturing for many years.
>
> Clearly a level-playing field is critical to keeping centralization from
> being a "defining feature" of Bitcoin over the long term. I've heard the
> term "level playing field" bandied about quite a bit. And it seems to me
> that the risk of state actor control and botnet attacks is less than
> state-actor manipulation of specialized manufacturing of "SHA-256 forever"
> hardware. Indeed, the reliance on a fairly simple hash seems less and
> less likely a "feature" and more of a baggage.
>
> Perhaps regular, high-consensus POW changes might even be *necessary* as a
> part of good maintenance of cryptocurrency in general. Killing the
> existing POW, and using an as-yet undefined, but deployment-bit ready POW
> field to flip-flop between the current and the "next one" every 8 years or
> or so, with a ramp down beginning in the 7th year.... A stub function that
> is guaranteed to fail unless a new consensus POW is selected within 7
> years.
>
> Something like that?
>
> Haven't thought about it *that* much, but I think the network would
> respond well to a well known cutover date. This would enable
> rapid-response to quantum tech, or some other needed POW switch as well...
> because the mechanisms would be in-place and ready to switch as needed.
>
> Lots of people seem to panic over POW changes as "irresponsible", but it's
> only irresponsible if done irresponsibly.
>
>
> On Fri, Apr 7, 2017 at 9:48 PM, praxeology_guy via bitcoin-dev <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
>
>> Jimmy Song,
>>
>> Why would the actual end users of Bitcoin (the long term and short term
>> owners of bitcoins) who run fully verifying nodes want to change Bitcoin
>> policy in order to make their money more vulnerable to 51% attack?
>>
>> If anything, we would be making policy changes to prevent the use of
>> patented PoW algorithms instead of making changes to enable them.
>>
>> Thanks,
>> Praxeology Guy
>>
>> _______________________________________________
>> bitcoin-dev mailing list
>> bitcoin-dev at lists.linuxfoundation.org
>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>>
>>
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20170409/8d1ffe05/attachment-0001.html>;
📝 Original message:I can speak from personal experience regarding another very prominent
altcoin that attempted to utilize an asic-resistant proof of work
algorithm, it is only a matter of time before the "asic resistant"
algorithm gets its own Asics. The more complicated the algorithm, the more
secretive the asic technology is developed. Even without it,
multi-megawatt gpu farms have already formed in the areas of the world with
low energy costs. I'd support the goal if I thought it possible, but I
really don't think centralization of mining can be prevented.
On Apr 9, 2017 1:16 PM, "Erik Aronesty via bitcoin-dev" <
bitcoin-dev at lists.linuxfoundation.org> wrote:
> Curious: I'm not sure why a serious discussion of POW change is not on the
> table as a part of a longer-term roadmap.
>
> Done right, a ramp down of reliance on SHA-256 and a ramp-up on some of
> the proven, np-complete graph-theoretic or polygon manipulation POW would
> keep Bitcoin in commodity hardware and out of the hands of centralized
> manufacturing for many years.
>
> Clearly a level-playing field is critical to keeping centralization from
> being a "defining feature" of Bitcoin over the long term. I've heard the
> term "level playing field" bandied about quite a bit. And it seems to me
> that the risk of state actor control and botnet attacks is less than
> state-actor manipulation of specialized manufacturing of "SHA-256 forever"
> hardware. Indeed, the reliance on a fairly simple hash seems less and
> less likely a "feature" and more of a baggage.
>
> Perhaps regular, high-consensus POW changes might even be *necessary* as a
> part of good maintenance of cryptocurrency in general. Killing the
> existing POW, and using an as-yet undefined, but deployment-bit ready POW
> field to flip-flop between the current and the "next one" every 8 years or
> or so, with a ramp down beginning in the 7th year.... A stub function that
> is guaranteed to fail unless a new consensus POW is selected within 7
> years.
>
> Something like that?
>
> Haven't thought about it *that* much, but I think the network would
> respond well to a well known cutover date. This would enable
> rapid-response to quantum tech, or some other needed POW switch as well...
> because the mechanisms would be in-place and ready to switch as needed.
>
> Lots of people seem to panic over POW changes as "irresponsible", but it's
> only irresponsible if done irresponsibly.
>
>
> On Fri, Apr 7, 2017 at 9:48 PM, praxeology_guy via bitcoin-dev <
> bitcoin-dev at lists.linuxfoundation.org> wrote:
>
>> Jimmy Song,
>>
>> Why would the actual end users of Bitcoin (the long term and short term
>> owners of bitcoins) who run fully verifying nodes want to change Bitcoin
>> policy in order to make their money more vulnerable to 51% attack?
>>
>> If anything, we would be making policy changes to prevent the use of
>> patented PoW algorithms instead of making changes to enable them.
>>
>> Thanks,
>> Praxeology Guy
>>
>> _______________________________________________
>> bitcoin-dev mailing list
>> bitcoin-dev at lists.linuxfoundation.org
>> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>>
>>
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.linuxfoundation.org/pipermail/bitcoin-dev/attachments/20170409/8d1ffe05/attachment-0001.html>;