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Date: Fri, 12 Jun 2015 14:01:13 -0400
From: Peter Todd <pete@petertodd.org>
To: Pieter Wuille <pieter.wuille@gmail.com>
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Cc: Bitcoin Dev <bitcoin-development@lists.sourceforge.net>
Subject: Re: [Bitcoin-development] Mining centralization pressure from
non-uniform propagation speed
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On Fri, Jun 12, 2015 at 06:51:02PM +0200, Pieter Wuille wrote:
> The configuration used in the code right now simulates two groups of mine=
rs
> (one 80%=3D25%+25%+30%, one 20%=3D5%+5%+5%+5%), which are well-connected
> internally, but are only connected to each other through a slow 2 Mbit/s
> link.
>=20
> Here are some results.
>=20
> This shows how the group of smaller miners loses around 8% of their
> relative income (if they create larger blocks, their loss percentage goes
> up slightly further):
To be clear, when you say 8% of their income, you mean revenue, not
profit?
Actual profit margins of something like 5%-10% are likely, so that's an
enormous hit that could make their mining operation completely
non-viable.
--=20
'peter'[:-1]@petertodd.org
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