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I wonder: is there is any user in a variant of bitcoin that disallow's mining pools ? Obviously we can't prevent users for cooperating, but we might be able
by anologwintermut 13y ago
I wonder: is there is any user in a variant of bitcoin that disallow's mining pools ? Obviously we can't prevent users for cooperating, but we might be able make it so they have incentives to defect rather than cooperate (i.e. can use the computed hash solution on their own).
- Ihmahr 13y agoppcoin
- anologwintermut 13y agoTrue, though doesn't that just replace a mining monopoly with a monopoly of money?
- wmf 13y agoIf you disallow pools the network might stabilize at a fairly low difficulty (because mining is too risky if you make nothing for months on end) and then it would get 51%'ed.
- Ihmahr 13y agoAgain, ppcoin. People Coin is not only about mining but also about having a stake of the money supply. You could attack ppcoin by owning 51% of the currency supply, but by that time you're so invested you don't want to.
- anologwintermut 13y agoIf the difficulty of a given block is that high,yes. I was thinking something more like litecoin: you'd have way more computational power total witha lot of participants, but each individual amount of work would be smal and so the risk would be low.
- wmf 13y agoFundamentally if there are N blocks mined per month and, say, 10N miners, each miner will get paid very rarely which will scare them away. The only advantage of Litecoin is that it mines blocks at a faster rate than Bitcoin.