Return-Path: Received: from smtp1.osuosl.org (smtp1.osuosl.org [140.211.166.138]) by lists.linuxfoundation.org (Postfix) with ESMTP id C1503C0001 for ; Wed, 10 Mar 2021 02:39:58 +0000 (UTC) Received: from localhost (localhost [127.0.0.1]) by smtp1.osuosl.org (Postfix) with ESMTP id 9952D83DC7 for ; Wed, 10 Mar 2021 02:39:58 +0000 (UTC) X-Virus-Scanned: amavisd-new at osuosl.org X-Spam-Flag: NO X-Spam-Score: 0.601 X-Spam-Level: X-Spam-Status: No, score=0.601 tagged_above=-999 required=5 tests=[BAYES_50=0.8, DKIM_SIGNED=0.1, DKIM_VALID=-0.1, DKIM_VALID_AU=-0.1, DKIM_VALID_EF=-0.1, HTML_MESSAGE=0.001, RCVD_IN_MSPIKE_H3=0.001, RCVD_IN_MSPIKE_WL=0.001, SPF_HELO_PASS=-0.001, SPF_PASS=-0.001] autolearn=ham autolearn_force=no Authentication-Results: smtp1.osuosl.org (amavisd-new); dkim=pass (2048-bit key) header.d=tutanota.de Received: from smtp1.osuosl.org ([127.0.0.1]) by localhost (smtp1.osuosl.org [127.0.0.1]) (amavisd-new, port 10024) with ESMTP id RRvI7suXXhDU for ; Wed, 10 Mar 2021 02:39:57 +0000 (UTC) X-Greylist: from auto-whitelisted by SQLgrey-1.8.0 Received: from w1.tutanota.de (w1.tutanota.de [81.3.6.162]) by smtp1.osuosl.org (Postfix) with ESMTPS id 00C3583DBF for ; Wed, 10 Mar 2021 02:39:56 +0000 (UTC) Received: from w3.tutanota.de (unknown [192.168.1.164]) by w1.tutanota.de (Postfix) with ESMTP id 1F8E2FBF643 for ; Wed, 10 Mar 2021 02:39:54 +0000 (UTC) DKIM-Signature: v=1; a=rsa-sha256; q=dns/txt; c=relaxed/relaxed; t=1615343994; s=s1; d=tutanota.de; h=From:From:To:To:Subject:Subject:Content-Description:Content-ID:Content-Type:Content-Type:Content-Transfer-Encoding:Cc:Date:Date:In-Reply-To:MIME-Version:MIME-Version:Message-ID:Message-ID:Reply-To:References:Sender; bh=MPqv7kODA4pbzPtf5d46c9fs9LWXlb4nw56YgSxCvFw=; b=Bv7Y7+eOcAK8uYmy/smXNXQbAz8XPlCpg8DZeHcU8Qnp+l71K0Ju14YU5l2dKvHH tVFETuxaoTG4mb6LyItC5iDs0O+ZhtdiZ1WRUp4jCs42mv/3VS0KX4ioyIZVPPLiEPf 2zdHmH5ql9+145YRU18abluJ+k6NWKwUMfI11SPaRMWiL5vg/ouWUHKK4zAwF4my+Vv lLqN9PM2ikiH/QLQa7/mN45v9vSAOkU0SlnbjaGFE0UPV7oSfiD8nYZCgHGKmAd46Dn 58Wkeg+XEgwzGu6x8eFplFwqNac58wgSBQGrYTEYkqe+NZoBJQnERmabn3Xs2SE/NbR DGFdK2PzDA== Date: Wed, 10 Mar 2021 03:39:54 +0100 (CET) From: Prayank To: Bitcoin Dev Message-ID: MIME-Version: 1.0 Content-Type: multipart/alternative; boundary="----=_Part_418760_1661561296.1615343994118" X-Mailman-Approved-At: Wed, 10 Mar 2021 09:11:28 +0000 Subject: [bitcoin-dev] Mining Pools in Bitcoin and their involvement in Bitcoin development X-BeenThere: bitcoin-dev@lists.linuxfoundation.org X-Mailman-Version: 2.1.15 Precedence: list List-Id: Bitcoin Protocol Discussion List-Unsubscribe: , List-Archive: List-Post: List-Help: List-Subscribe: , X-List-Received-Date: Wed, 10 Mar 2021 02:39:58 -0000 ------=_Part_418760_1661561296.1615343994118 Content-Type: text/plain; charset=UTF-8 Content-Transfer-Encoding: quoted-printable Hello World, Lets start with facts instead of opinion. Mining pool distribution in last = 24 hours: Binance - 16% F2Pool - 15% Huobi - 11% AntPool - 10% ViaBTC - 10% Poolin - 9% BTC.com - 8% This is 80% and things are not really different even if look at last 2 week= s. Most of the pools have been reusing address for coinbase transaction and= sharing name in coinbase text.=C2=A0 Their opinion on "Taproot":=C2=A0https://taprootactivation.com/ I won't comment on the origin of these mining pools or history. Maybe thing= s will improve with Stratum v2, lets look at miners but its difficult to kn= ow the exact location of miners considering no such details in protocol and= people can use Tor, VPN, proxy etc. Mining pools can be non-KYC or have th= eir own understanding with miners. Few countries increased their involvemen= t in Bitcoin mining recently and governments: Russia Iran Venezuela Pakistan China, US and few others are already involved from years. Maybe others tha= t we don't know and were not highlighted in mainstream media. What are the = risks and rewards involved in bitcoin mining: Rewards: Block reward (6.25 BTC right now) + transaction fees Freedom to include transactions (can censor few transactions if they want) Involved in signaling for soft forks (Bitcoin Development) Risks: BTCUSD (Can be hedged) Hashrate and Difficulty (Can be hedged) What are the opportunities we provide when mining pools (businesses) are as= ked to agree/disagree on some soft fork, follow with communication and then= signaling? Politics and misinformation for few months or years Forked coin as add-on in some cases Delay Bitcoin development Maybe convince everyone Bitcoin needs no improvement Others Who can sponsor for the above mentioned things? Government Scammers with money and time who were even able to remove whitepaper Altcoin foundations Is this FUD? No. These are possible issues related to mining pools and we n= eed to plan accordingly. Many people are concerned about UASF and prefer fu= ture markets. I don't agree with them and reasons are simple. Changes in Bi= tcoin Protocol doesn't need futures markets or tokens, both can be easily m= anipulated by traders and exchanges to make profits. Where is the "Adversar= ial Thinking" involved in changing Bitcoin Protocol and considering involve= ment of mining pools? Already a long email so will share the link to a recent question I asked on= "Bitcoin" Stackexchange about identifying which mining pool mined a block:= =C2=A0https://bitcoin.stackexchange.com/questions/103409/identify-which-min= ing-pool-mined-a-block I am hopeful things will improve and interested to contribute more. Will be= helpful if someone could also answer why do we have 30% vulnerable nodes i= n Bitcoin network? https://www.reddit.com/r/Bitcoin/comments/lb6dpi/vulnerable_bitcoin_nodes/ Thanks. Will end the email on a positive note with something that inspires me a lot= : Satoshi's lesson is that you don't need to be the next Einstein in order to= change the world. Nor do you need to have much money, or influence with th= e world's "movers & shakers". You just need to put in the effort. Satoshi, = probably just an ordinary hobbyist like anyone here, saw that something was= lacking in the Universe, and he fought tooth-and-nail for 2+ years until t= his imperfection was corrected. This is what makes Satoshi and his work my = greatest inspiration. =20 https://bitcointalk.org/index.php?topic=3D5092492.0 --=20 Prayank ------=_Part_418760_1661561296.1615343994118 Content-Type: text/html; charset=UTF-8 Content-Transfer-Encoding: quoted-printable
Hello World,

Lets start with facts instea= d of opinion. Mining pool distribution in last 24 hours:

=
Binance - 16%
F2Pool - 15%
Huobi - 1= 1%
AntPool - 10%
ViaBTC - 10%
Poo= lin - 9%
BTC.com - 8%

This is 80= % and things are not really different even if look at last 2 weeks. Most of= the pools have been reusing address for coinbase transaction and sharing n= ame in coinbase text. 

Their opinion on "= Taproot": https://taprootac= tivation.com/

I won't comment on the origi= n of these mining pools or history. Maybe things will improve with Stratum = v2, lets look at miners but its difficult to know the exact location of min= ers considering no such details in protocol and people can use Tor, VPN, pr= oxy etc. Mining pools can be non-KYC or have their own understanding with m= iners. Few countries increased their involvement in Bitcoin mining recently= and governments:

Russia
Iran
Venezuela
Pakistan

C= hina, US and few others are already involved from years. Maybe others that= we don't know and were not highlighted in mainstream media. What are the r= isks and rewards involved in bitcoin mining:

R= ewards:

Block reward (6.25 BTC right now) + t= ransaction fees
Freedom to include transactions (can censor f= ew transactions if they want)
Involved in signaling for soft = forks (Bitcoin Development)

Risks:

BTCUSD (Can be hedged)
Hashrate and Difficu= lty (Can be hedged)

What are the opportunities= we provide when mining pools (businesses) are asked to agree/disagree on s= ome soft fork, follow with communication and then signaling?
=
  1. Politics and misinformation for few months or years
  2. Forked coin as add-on in some cases
  3. Delay Bitcoin develo= pment
  4. Maybe convince everyone Bitcoin needs no improvement
    <= /li>
  5. Others
Who can sponsor for the above mentioned th= ings?

  1. Government
  2. Scammers with = money and time who were even able to remove whitepaper
  3. Altcoin = foundations
Is this FUD? No. These are possible issues re= lated to mining pools and we need to plan accordingly. Many people are conc= erned about UASF and prefer future markets. I don't agree with them and rea= sons are simple. Changes in Bitcoin Protocol doesn't need futures markets o= r tokens, both can be easily manipulated by traders and exchanges to make p= rofits. Where is the "Adversarial Thinking" involved in changing Bit= coin Protocol and considering involvement of mining pools?
Already a long email so will share the link to a recent questi= on I asked on "Bitcoin" Stackexchange about identifying which mining pool m= ined a block: https://bitcoin.stackexchan= ge.com/questions/103409/identify-which-mining-pool-mined-a-block

I am hopeful things will improve and interested to c= ontribute more. Will be helpful if someone could also answer why do we have= 30% vulnerable nodes in Bitcoin network?


Thanks.

Will end the email on a positive note with something that inspires me a = lot:

Satoshi's lesson is that you don't nee= d to be the next Einstein in order to change the world. Nor do you need to = have much money, or influence with the world's "movers & shakers". You = just need to put in the effort. Satoshi, probably just an ordinary hobbyist= like anyone here, saw that something was lacking in the Universe, and he f= ought tooth-and-nail for 2+ years until this imperfection was corrected. Th= is is what makes Satoshi and his work my greatest inspiration.

https://bitcointalk.org/index.php?topic=3D5092492.0
--
Prayank
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