(no title)
cocktailpeanuts | 4 years ago
This is inherent to the PoW consensus. Satoshi Nakamoto himself even said Bitcoin would end up in data centers because of this property. It's not that hard to understand why this would be the case. PoW is powered by competition, and competition begets scale, just like any other industry.
> Your understanding of censorship resistance is gravely mistaken [1]:
Before making this kind of condescending comments, maybe make sure that you are not the one who's misunderstanding what I am saying? I was talking about what many PoS supporters think, not what I thought. Go ahead and re-read what I said.
Their (The PoS supporters) idea is that "because it's much more difficult to find PoS validators than PoW miners because PoW miners need to maintain a factory whereas PoS validators can just hide in their mom's basement and make money, it's more difficult for the governments to regulate PoS than PoW". And my point was that that was an incorrect belief.
My entire post was talking about this false sense of "censorship resistance", basically Pro-PoW and anti-PoS, and you didn't need to lecture me on your superior understanding of PoW. I understand everything you said, but you completely misunderstood my point. If you didn't get that by reading, maybe it's your reading comprehension problem.
atweiden|4 years ago
As someone who has long been all too familiar with the various sophistry tactics commonly employed by Bitcoin’s competition, frankly that was my impression of your post. I apologize if I misread your intent.
> This is inherent to the PoW consensus. Satoshi Nakamoto himself even said Bitcoin would end up in data centers because of this property
Bitcoin wouldn’t have ever warranted industrial scale mining operations if not for BTC’s significant price appreciation. But PoW systems were never guaranteed to be commercially successful. It’s perfectly possible for Bitcoin to once again become CPU mineable on ordinary Windows PCs — assuming its market price collapses.
hirako2000|4 years ago
I regularily receive a silly critic, which I always take the time to debunk, and then often get told "it was joke.. come on".
We live interesting times.
Edit: Not questioning the honesty of the author, the clarification is legit.