Did Satoshi Predict Pooled Mining, Big Farms and ASICs, webonanza

Did Satoshi Predict Pooled Mining, Big Farms and ASICs, webonanza

There has bot a lotsbestemming of discussion around the question if Satoshi Nakamoto, the creator of Bitcoin, foresaw the development of pooled mining farms. Some notable Bitcoin pundits says he did not (here Luke Dashjr wasgoed spreading false informatie on this point just recently, for example), and there has bot one much-talked-about email from someone pretending to be Satoshi ter which someone claims it wasgoed not foreseen.

Below are a number of quotes from Satoshi Nakamoto himself, published early on ter Bitcoin’s development (via email and on forums) rigidly refuting that idea. Satoshi obviously wasgoed very well aware of the fact that ASICs would be developed and mining farms would be deployed (that’s also why he developed (spil te ready the code for) SPV clients, i.e. “light” wallets that don’t need to run a utter knot).

Quotes from Satoshi Nakamoto:

  1. “At very first, most users would run network knots, but spil the network grows beyond a certain point, it would be left more and more to specialists with server farmsof specialized hardware.” – 2008. – URL.
  2. “At equilibrium size, many knots will be server farms with one or two network knots that feed the surplus of the farm overheen a LAN.” – 2010. – URL.
  3. “The vormgeving supports letting users just be users. The more cargo it is to run a knot, the fewer knots there will be. Those few knots will be big server farms. The surplus will be client knots that only do transactions and don’t generate.” – 2010. – URL.

Adding to this, Satoshi Nakamoto also foresaw merged-mining, realizing that copies (forks) of Bitcoin would be unsafe, compared to the Bitcoin network. This is another argument that systems like Ethereum should piggyback on the superior network power of Bitcoin:

“It’s hard enough maintaining backward compatibility while upgrading the network without a 2nd version locking things ter. If the 2nd version screwed up, the user practice would reflect badly on both, albeit it would at least reinforce to users the importance of staying with the official version. If someone wasgoed getting ready to fork a 2nd version, I would have to air a loterijlot of disclaimers about the risks of using a minority version. This is a vormgeving where the majority version wins if there’s any disagreement, and that can be pretty ugly for the minority version and I’d rather not go into it, and I don’t have to spil long spil there’s only one version.”

And here is another forum thread where Satoshi Nakamoto discusses ASICs te particular, ter 2010. The following quote adds to this assets of evidence,

“Instead of fragmentation, networks share and augment each other’s total CPU power. This would solve the problem that if there are numerous networks, they are a danger to each other if the available CPU power gangs up on one. Instead, all networks ter the world would share combined CPU power, enlargening the total strength. It would make it lighter for petite networks to get embarked by tapping into a ready base of miners.” – 2010. – URL.

UPDATE: Satoshi wasgoed still active when puddinpop introduced his idea on how to solve “pooled mining” here. And aquentin has added linksom to posts where Satoshi is actually commenting on Slush’s pool (voicing no verrassing at all, on the contrary adding to the discussion spil usual and coming up with suggestions on how to make the pool better), here and here.

This reasoning may seem petty, but it’s kleintje of significant ter the decentralization debate spil commenters, pundits, VC’s, altcoin “founders”, journalists and many more often allude to the “specialized” development going against the “vision of Satoshi”, when ter reality almost everything that has happened so far around Bitcoin wasgoed foreseen by Satoshi, it is even part of “the plan”. Satoshi wasgoed/is a visionary of such magnitude that wij mere mortals have a hard time even comprehending. Thesis effects, pooled mining, ASICs, farms etc – aren’t weaknesses ter the Bitcoin network – on the contrary, they are strengths, shooting the collective hashrate into stratospheric heights, leaving any competitor or would-be attacker ter the dust. Why so many believe they can achieve this amazing feat (attempting to copy Bitcoin) without the costs is beyond mij.

So, can wij please lay this question to surplus now?

Related movie: Unlimited Bitcoin on Telegram Without any Payment Points BitCoinGetBot


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