Simon Liu [ARCHIVE] on Nostr: 📅 Original date posted:2015-08-03 📝 Original message:Increasing the block size ...
📅 Original date posted:2015-08-03
📝 Original message:Increasing the block size shouldn't be a problem for Chinese miners.
Five of the largest - F2Pool, Antpool, BW, BTCChina, Huobi - have
already signed a draft agreement indicating they are fine with an
increase to 8 MB: http://www.8btc.com/blocksize-increase-2
With regards to China's international bandwidth, not only is intra-Asia
capacity improving all the time, a major consortium cable FASTER is
coming online Q2 2016. Backed by Google, China Telecom and others, it
has a capacity of 60 Tbps, making it the highest-capacity data link ever
created across the Pacific.
Interactive map: http://www.submarinecablemap.com/
FASTER: https://plus.google.com/+UrsH%C3%B6lzle/posts/haJzDXnp9Z4
--Simon
On 08/02/2015 11:34 PM, Adam Back via bitcoin-dev wrote:
> If block-sizes are increased in a way detrimental to the Chinese miners,
> it is not the Chinese miners that lose, it is all of the non-Chinese
> miners - this is because the Chinese miners have the slight majority of
> the hashrate. The relatively low external bandwidth connecting China to
> the net is actually the problem of the non-Chinese miners problem. Non
> Chinese miners will experience higher orphan rate once Chinese miners
> cease to build on top of blocks that are too large to sync in a timely
> fashion into China.
>
> Adam
>
> On 2 August 2015 at 23:02, Jim Phillips via bitcoin-dev
> <bitcoin-dev at lists.linuxfoundation.org
> <mailto: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
> <mailto: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
>
📝 Original message:Increasing the block size shouldn't be a problem for Chinese miners.
Five of the largest - F2Pool, Antpool, BW, BTCChina, Huobi - have
already signed a draft agreement indicating they are fine with an
increase to 8 MB: http://www.8btc.com/blocksize-increase-2
With regards to China's international bandwidth, not only is intra-Asia
capacity improving all the time, a major consortium cable FASTER is
coming online Q2 2016. Backed by Google, China Telecom and others, it
has a capacity of 60 Tbps, making it the highest-capacity data link ever
created across the Pacific.
Interactive map: http://www.submarinecablemap.com/
FASTER: https://plus.google.com/+UrsH%C3%B6lzle/posts/haJzDXnp9Z4
--Simon
On 08/02/2015 11:34 PM, Adam Back via bitcoin-dev wrote:
> If block-sizes are increased in a way detrimental to the Chinese miners,
> it is not the Chinese miners that lose, it is all of the non-Chinese
> miners - this is because the Chinese miners have the slight majority of
> the hashrate. The relatively low external bandwidth connecting China to
> the net is actually the problem of the non-Chinese miners problem. Non
> Chinese miners will experience higher orphan rate once Chinese miners
> cease to build on top of blocks that are too large to sync in a timely
> fashion into China.
>
> Adam
>
> On 2 August 2015 at 23:02, Jim Phillips via bitcoin-dev
> <bitcoin-dev at lists.linuxfoundation.org
> <mailto: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
> <mailto: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
>