> I think you need to hard deprecate the PoW for this to work, otherwise all > old miners are like "toxic waste".
what would be the incentive? a POB would be required on every block (and would be lost if not used). so any miner doing this would just be doing "extra work" and strictly losing money over a miner that doesn't. a 99% reduction would be more than enough tho. On Fri, Apr 16, 2021 at 5:24 PM Jeremy <jlru...@mit.edu> wrote: > > I think you need to hard deprecate the PoW for this to work, otherwise all > old miners are like "toxic waste". > > Imagine one miner turns on a S9 and then ramps up difficulty for everyone > else. > > On Fri, Apr 16, 2021, 2:08 PM Erik Aronesty via bitcoin-dev > <bitcoin-dev@lists.linuxfoundation.org> wrote: >> >> Not sure of the best place to workshop ideas, so please take this with >> a grain of salt. >> >> Starting with 3 assumptions: >> >> - assume that there exists a proof-of-burn that, for Bitcoin's >> purposes, accurately-enough models the investment in and development >> of ASICs to maintain miner incentive. >> - assume the resulting timing problem "how much burn is enough to keep >> blocks 10 minutes apart and what does that even mean" is also... >> perfectly solvable >> - assume "everyone unanimously loves this idea" >> >> The transition *could* look like this: >> >> - validating nodes begin to require proof-of-burn, in addition to >> proof-of-work (soft fork) >> - the extra expense makes it more expensive for miners, so POW slowly drops >> - on a predefined schedule, POB required is increased to 100% of the >> "required work" to mine >> >> Given all of that, am I correct in thinking that a hard fork would not >> be necessary? >> >> IE: We could transition to another "required proof" - such as a >> quantum POW or a POB (above) or something else .... in a back-compat >> way (existing nodes not aware of the rules would continue to >> validate). >> _______________________________________________ >> bitcoin-dev mailing list >> bitcoin-dev@lists.linuxfoundation.org >> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev _______________________________________________ bitcoin-dev mailing list bitcoin-dev@lists.linuxfoundation.org https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
