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From: Natanael <natanael.l@gmail.com>
Date: Thu, 18 Jan 2018 17:25:16 +0100
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To: =?UTF-8?Q?Enrique_Ariz=C3=B3n_Benito?= <enrique.arizonbenito@gmail.com>, 
	Bitcoin Dev <bitcoin-dev@lists.linuxfoundation.org>
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Subject: Re: [bitcoin-dev] Proposal to reduce mining power bill
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A large miner would only need to divide his hardware setup into clusters
that pretend to be different independent miners to create these "miner
tokens", as explained before, to significantly raise his chances that he on
nearly every single round would be able to mine.

Once each individual token is about the expire, the number just dedicates a
fraction of his  mining power to renew it. At the same time he can even
create multiple new tokens given enough hardware.

This does not reduce energy use. The only notable effect is to delay income
for new miners. This makes profitability calculations more annoying.

Long term, it only behaves like an artificially raised difficulty target.

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<div dir=3D"auto"><div><div class=3D"gmail_extra">A large miner would only =
need to divide his hardware setup into clusters that pretend to be differen=
t independent miners to create these &quot;miner tokens&quot;, as explained=
 before, to significantly raise his chances that he on nearly every single =
round would be able to mine.</div></div><div class=3D"gmail_extra" dir=3D"a=
uto"><br></div><div class=3D"gmail_extra" dir=3D"auto">Once each individual=
 token is about the expire, the number just dedicates a fraction of his=C2=
=A0 mining power to renew it. At the same time he can even create multiple =
new tokens given enough hardware.=C2=A0</div><div class=3D"gmail_extra" dir=
=3D"auto"><br></div><div class=3D"gmail_extra" dir=3D"auto">This does not r=
educe energy use. The only notable effect is to delay income for new miners=
. This makes profitability calculations more annoying.</div><div class=3D"g=
mail_extra" dir=3D"auto"><br></div><div class=3D"gmail_extra" dir=3D"auto">=
Long term, it only behaves like an artificially raised difficulty target.=
=C2=A0</div></div>

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