yanmaani at cock.li [ARCHIVE] on Nostr: 📅 Original date posted:2021-05-17 📝 Original message:This is silly, but I'll ...
📅 Original date posted:2021-05-17
📝 Original message:This is silly, but I'll add my take:
This would create the incentive to have chips that are idle 50% of the
time and work harder 50% of the time. This means miners would buy twice
the chips to use the same amount of power, for example.
This in turn means a greater portion of your operational costs are spent
on chips, and a smaller portion on electricity, reducing the incentive
to use cheaper power and turn off when it's expensive, because you need
to recoup your investment. That seems like a bad thing.
Here's my proposal: if you want a PoW algorithm that's better for the
environment, make one where the chips are easier to manufacture, so
power costs become a greater portion of miner expenditures. Maybe
SIMON/SPECK would do it. It could also incentivize someone to find that
NSA backdoor...
On 2021-05-14 21:41, Michael Fuhrmann via bitcoin-dev wrote:
> Hello,
>
> Bitcoin should create blocks every 10 minutes in average. So why do
> miners need to mine the 9 minutes after the last block was found? It's
> not necessary.
>
> Problem: How to prevent "pre-mining" in the 9 minutes time window?
>
> Possible ideas for discussion:
>
> - (maybe most difficult) global network timer sending a salted hash
> time
> code after 9 minutes. this enables validation by nodes.
>
> - (easy attempt) mining jobs before 9 minutes have a 10 (or 100 or just
> high enough) times higher difficulty. so everyone can mine any time but
> before to 9 minutes are up there will be a too high downside. It is
> more
> efficient to wait then paying high bills. The bitcoin will get a
> "puls".
>
>
> I dont think I see all problems behind these ideas but if there is a
> working solution to do so then the energy fud will find it's end.
> Saving
> energy without loosing rosbustness.
>
>
>
> :)
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
📝 Original message:This is silly, but I'll add my take:
This would create the incentive to have chips that are idle 50% of the
time and work harder 50% of the time. This means miners would buy twice
the chips to use the same amount of power, for example.
This in turn means a greater portion of your operational costs are spent
on chips, and a smaller portion on electricity, reducing the incentive
to use cheaper power and turn off when it's expensive, because you need
to recoup your investment. That seems like a bad thing.
Here's my proposal: if you want a PoW algorithm that's better for the
environment, make one where the chips are easier to manufacture, so
power costs become a greater portion of miner expenditures. Maybe
SIMON/SPECK would do it. It could also incentivize someone to find that
NSA backdoor...
On 2021-05-14 21:41, Michael Fuhrmann via bitcoin-dev wrote:
> Hello,
>
> Bitcoin should create blocks every 10 minutes in average. So why do
> miners need to mine the 9 minutes after the last block was found? It's
> not necessary.
>
> Problem: How to prevent "pre-mining" in the 9 minutes time window?
>
> Possible ideas for discussion:
>
> - (maybe most difficult) global network timer sending a salted hash
> time
> code after 9 minutes. this enables validation by nodes.
>
> - (easy attempt) mining jobs before 9 minutes have a 10 (or 100 or just
> high enough) times higher difficulty. so everyone can mine any time but
> before to 9 minutes are up there will be a too high downside. It is
> more
> efficient to wait then paying high bills. The bitcoin will get a
> "puls".
>
>
> I dont think I see all problems behind these ideas but if there is a
> working solution to do so then the energy fud will find it's end.
> Saving
> energy without loosing rosbustness.
>
>
>
> :)
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev