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IANABME[1], but it seems that a solution already exists to this problem, which is to use a decentralized mining pool. The unfortunate fact is that we're in a time window right now where large miners have not yet transitioned to this ideal solution.

However, any miner in the long run would prefer to join a mining pool that does not require trusting some pool operator over one that does, all other things being equal.

Yes, the current situation is dangerous for the health of bitcoin, but I don't see any solution besides waiting for distributed, trustless pool technology to catch up in terms of usability with the centralized pools.

This problem isn't going to be solved by a hard fork, as any "fixes" done this way are untested, incomplete, and risky.

[1] I am not a bitcoin mining expert



As long as large centralized pools charge no fees and use less bandwidth than p2pool, people will have no incentive to adopt p2pool.


Presumably large pools aren't charities, so the lack of fees can remain indefinitely.

Bandwidth is certainly a problem though... are there any good numbers on the bandwidth difference?




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