aminorex
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Sine secretum non libertas


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April 13, 2014, 09:09:34 PM

The only real problem I see with mining is centralization.


Centralization will be the beginning of the gentrification of Bitcoin.  Once it is centralized it can be controlled by banks and governments.

Agreed.  But its a solvable problem.


Please elaborate.

I addressed one solution above.  Other ameliorating factors can be introduced.  For example, mining could be moved to side-chains with small, fast block rewards.  This would not penalize current miners but would make it easier for amateurs to add distribution without throwing in to a big pool.  Anything that leads to more, smaller pools would be good.  It works because the side-chains would be merge-mined with the bitcoin 1.0 chain.