<![CDATA[Melvin Carvalho]]> https://melvincarvalho.npub.pro/tag/stratumv2/ https://melvincarvalho.npub.pro/tag/stratumv2/rss/ episodic Tue, 28 Nov 2023 07:59:27 GMT Tue, 28 Nov 2023 07:59:27 GMT <![CDATA[Melvin Carvalho]]> https://melvincarvalho.npub.pro/tag/stratumv2/ https://void.cat/d/Eon6A2onyvTWGSseNkwQ4v.webp <![CDATA[No, I dont think they are.…]]> Tue, 28 Nov 2023 07:59:27 GMT https://melvincarvalho.npub.pro/post/note1envdqsvr7nr7vv56va7y7wj9m9d3duum4005nzlljq82wawqsfwsxrsvth/ https://melvincarvalho.npub.pro/post/note1envdqsvr7nr7vv56va7y7wj9m9d3duum4005nzlljq82wawqsfwsxrsvth/ note1envdqsvr7nr7vv56va7y7wj9m9d3duum4005nzlljq82wawqsfwsxrsvth stratumv2 note1envdqsvr7nr7vv56va7y7wj9m9d3duum4005nzlljq82wawqsfwsxrsvth npub1melv683fw6n2mvhl5h6dhqd8mqfv3wmxnz4qph83ua4dk4006ezsrt5c24 No, I dont think they are. slush invented pooled mining, created the first mining pool, and also stratum to communicate mining. During the big civil war they were the only pool that always stuck with bitcoin, against those that wanted to fork it. It is true that mining got more centralized, and that satoshis asked for a gentleman's agreement not to do that too fast. But Slush pool has been a consistently good actor for bitcoin and in some sense you could say they saved bitcoin when all the other hash went elsewhere. Mining centralization is a potential issue, as is a MASF, but I dont think stratum has much to do with that. #stratumv2 could well decentralize mining. I do like your thought process of trust no one though!

]]> No, I dont think they are. slush invented pooled mining, created the first mining pool, and also stratum to communicate mining. During the big civil war they were the only pool that always stuck with bitcoin, against those that wanted to fork it. It is true that mining got more centralized, and that satoshis asked for a gentleman's agreement not to do that too fast. But Slush pool has been a consistently good actor for bitcoin and in some sense you could say they saved bitcoin when all the other hash went elsewhere. Mining centralization is a potential issue, as is a MASF, but I dont think stratum has much to do with that. #stratumv2 could well decentralize mining. I do like your thought process of trust no one though!

]]> <![CDATA[decentralize with #stratumv2]]> Thu, 14 Sep 2023 16:58:17 GMT https://melvincarvalho.npub.pro/post/note1n5qg36lv4jumetsvxec0dnvs9w08ysnf93lyks2cvvvwqc8tsmqqlueycj/ https://melvincarvalho.npub.pro/post/note1n5qg36lv4jumetsvxec0dnvs9w08ysnf93lyks2cvvvwqc8tsmqqlueycj/ note1n5qg36lv4jumetsvxec0dnvs9w08ysnf93lyks2cvvvwqc8tsmqqlueycj stratumv2 note1n5qg36lv4jumetsvxec0dnvs9w08ysnf93lyks2cvvvwqc8tsmqqlueycj npub1melv683fw6n2mvhl5h6dhqd8mqfv3wmxnz4qph83ua4dk4006ezsrt5c24
  • decentralize with #stratumv2
    - miners use ai aglos w/ lower fees for smaller tx, higher for spam, fees will not be too high
    - modest medium term block size increase to grow into
    - different layers for different trust profiles scales at least as well as current banking

    https://cointelegraph.com/news/adam-back-bitcoin-block-size-increase-in-mid-term-is-possible
    • ]]>
  • decentralize with #stratumv2
    - miners use ai aglos w/ lower fees for smaller tx, higher for spam, fees will not be too high
    - modest medium term block size increase to grow into
    - different layers for different trust profiles scales at least as well as current banking

    https://cointelegraph.com/news/adam-back-bitcoin-block-size-increase-in-mid-term-is-possible
    • ]]>         <![CDATA[Yeah. It would be better after…]]> Mon, 04 Sep 2023 14:56:20 GMT https://melvincarvalho.npub.pro/post/note1ynxs3wvmrljcxpp60gh2ejnax4a4f76fdaskktygqrvmv0u9rsjspscxk7/ https://melvincarvalho.npub.pro/post/note1ynxs3wvmrljcxpp60gh2ejnax4a4f76fdaskktygqrvmv0u9rsjspscxk7/ note1ynxs3wvmrljcxpp60gh2ejnax4a4f76fdaskktygqrvmv0u9rsjspscxk7 stratumv2 note1ynxs3wvmrljcxpp60gh2ejnax4a4f76fdaskktygqrvmv0u9rsjspscxk7 npub1melv683fw6n2mvhl5h6dhqd8mqfv3wmxnz4qph83ua4dk4006ezsrt5c24 Yeah. It would be better after #stratumv2. I actually made a suggestion to improve it.

    Basically Bitcoin is like putting your money in a bank.

    DC is like leaving your money with a bank teller, and hoping you get it back.

    This tweak would actually pay for an escrow service, 0.01% a day so that there is some incentive to provide this service. And also makes it clear to users that what they old is not BTC but some token that they can lose.

    https://gist.github.com/moonsettler/e0c24863fda418a2fb504a307fda8a19

    ]]>     Yeah. It would be better after #stratumv2. I actually made a suggestion to improve it.

    Basically Bitcoin is like putting your money in a bank.

    DC is like leaving your money with a bank teller, and hoping you get it back.

    This tweak would actually pay for an escrow service, 0.01% a day so that there is some incentive to provide this service. And also makes it clear to users that what they old is not BTC but some token that they can lose.

    https://gist.github.com/moonsettler/e0c24863fda418a2fb504a307fda8a19

    ]]>         <![CDATA[A lot of talk lately about…]]> Mon, 04 Sep 2023 00:00:50 GMT https://melvincarvalho.npub.pro/post/note1fpex0zwx0mvpn09mrczayz2yfxrqsqqgds5ke6fxxq9q2y9e8k2s5t49qf/ https://melvincarvalho.npub.pro/post/note1fpex0zwx0mvpn09mrczayz2yfxrqsqqgds5ke6fxxq9q2y9e8k2s5t49qf/ note1fpex0zwx0mvpn09mrczayz2yfxrqsqqgds5ke6fxxq9q2y9e8k2s5t49qf stratumv2 note1fpex0zwx0mvpn09mrczayz2yfxrqsqqgds5ke6fxxq9q2y9e8k2s5t49qf npub1melv683fw6n2mvhl5h6dhqd8mqfv3wmxnz4qph83ua4dk4006ezsrt5c24 A lot of talk lately about the Security Budget. What is it?

    Its the coins paid to miners for keeping the blocks in a consistent order. We play the miners a huge amount for this service. But that amount will go down over time. In about the year 2032 the network may be less protected from reorderings (aka reorgs). Peronally I think the best solution is to decentralize mining with #stratumv2, but there are a few proposals floating around. It's good to think about early because higher security leads to higher price, and also allows bitcoin to live longer.

    https://www.btcsecuritybudget.com/

    ]]>     A lot of talk lately about the Security Budget. What is it?

    Its the coins paid to miners for keeping the blocks in a consistent order. We play the miners a huge amount for this service. But that amount will go down over time. In about the year 2032 the network may be less protected from reorderings (aka reorgs). Peronally I think the best solution is to decentralize mining with #stratumv2, but there are a few proposals floating around. It's good to think about early because higher security leads to higher price, and also allows bitcoin to live longer.

    https://www.btcsecuritybudget.com/

    ]]>