rich1.0npub1sgs97fe0n9wehe6zw7drcxdz4cy9yt9pfqjv8gasz5jlk4zezc0quppx3chttps://nostr.ae/npub1sgs97fe0n9wehe6zw7drcxdz4cy9yt9pfqjv8gasz5jlk4zezc0quppx3cnjumphttps://nostr.ae📅 Original date posted:2017-04-08 📝 Original message:-----BEGIN PGP SIGNED MESSAGE----- Hash: SHA256 On 04/08/2017 11:15 AM, praxeology_guy via bitcoin-dev wrote: > ASICBOOST causes Bitcoin's PoW to become more memory/latency > throttled instead of raw computation throttled. > > There is the equation: Power Cost + Captial Rent + Labor ~= block > reward + fees > > Capital Rent is a barrier to entry, and hence in desiring a more > distributed system, we would like to minimize the Capital Rent > portion of the equation. > > Resolving memory/latency throttle requires a greater Captial Rent > than raw computation throttle. > > Hence (agreeing with Luke), ASICBOOST is not desirable, even if it > wasn't a government enforced monopoly on mining. > > Please let me know if I made a mistake. Electric power is not an abstraction, it's the output of machines. What you are referring to as Power Cost typically consists of a higher rent component than computing hardware, where rent is the sharing of a resource by multiple people. So by your reasoning you appear to have drawn the wrong conclusion. e -----BEGIN PGP SIGNATURE----- Version: GnuPG v2.0.22 (GNU/Linux) iQEcBAEBCAAGBQJY6TEUAAoJEDzYwH8LXOFOiQIH/RN8YhLCokZtGoFZ+dOgwCxc /ej3m9CXVGyWvcCJMQd2ZJFgpjL5mgJdcCdaWoTeZfh0Nmvc3hDex46wWpUZc/mR NbRj56hyqe+cWAwQJJpAOWiJXjEuS3npXFvZIBpslECXCL6U+LSxdW9WSg0w+HBD jihIlG2TeGSrMR/atKfSnVRAnz9ahPvgUwcR8l7oLsjP2JvBGl+fQHL5MwpvRg4a sXK3eMIeH7wGJyiKOwXyMeRMfCRlwpkBCw0R+FYt2Q5l/uwkRAKuJiYUlJixFAZA ggQth02pFn/tASB49oBKZU3QviVRGgoIQ5DFyI8OPa10FeVsxaeNeBQylwWJA3c= =Ryo5 -----END PGP SIGNATURE-----