📅 Original date posted:2015-08-03
📝 Original message:Increasing the block size shouldn't be a problem for Chinese miners.
Five of the largest - F2Pool, Antpool, BW, BTCChina, Huobi - have
already signed a draft agreement indicating they are fine with an
increase to 8 MB: http://www.8btc.com/blocksize-increase-2
With regards to China's international bandwidth, not only is intra-Asia
capacity improving all the time, a major consortium cable FASTER is
coming online Q2 2016. Backed by Google, China Telecom and others, it
has a capacity of 60 Tbps, making it the highest-capacity data link ever
created across the Pacific.
Interactive map: http://www.submarinecablemap.com/
FASTER: https://plus.google.com/+UrsH%C3%B6lzle/posts/haJzDXnp9Z4
--Simon
On 08/02/2015 11:34 PM, Adam Back via bitcoin-dev wrote:
> If block-sizes are increased in a way detrimental to the Chinese miners,
> it is not the Chinese miners that lose, it is all of the non-Chinese
> miners - this is because the Chinese miners have the slight majority of
> the hashrate. The relatively low external bandwidth connecting China to
> the net is actually the problem of the non-Chinese miners problem. Non
> Chinese miners will experience higher orphan rate once Chinese miners
> cease to build on top of blocks that are too large to sync in a timely
> fashion into China.
>
> Adam
>
> On 2 August 2015 at 23:02, Jim Phillips via bitcoin-dev
> <bitcoin-dev at lists.linuxfoundation.org
> <mailto:bitcoin-dev at lists.linuxfoundation.org>> wrote:
>
> China is a communist country. It is no secret that all "capitalist"
> enterprises are essentially State controlled, or at the very least
> are subject to nationalization should the State deem it necessary.
> Most ASIC chips are manufactured in China, so they are cheap and
> accessible to Chinese miners. Electricity is subsidized and
> essentially free. Cooling is not an issue since large parts of China
> are mountainous and naturally cool. In short the Chinese miners have
> HUGE advantages over all other mining operations. This is probably
> why, between just the top 4 Chinese miners, the People's Republic of
> China effectively controls 57% of all the Bitcoin being mined.
>
> The ONLY disadvantage the Chinese miners have in competing with the
> rest of the world is bandwidth. China has poor connectivity with the
> rest of the world, and Chinese miners have said that an increase in
> the block size would be detrimental to them. I say, GOOD! Most of
> the free world has enough bandwidth to be able to handle larger
> blocks. We need to take advantage of that fact to get mining out of
> the centralized control of the Chinese.
>
> If you're truly worried about larger blocks causing centralization,
> think about how, by restricting blocksize, you're enabling the
> Communist Chinese government to maintain centralized control over
> 57% of the Bitcoin hashing power.
>
> --
> *James G. Phillips
> IV* <https://plus.google.com/u/0/113107039501292625391/posts>; <http://www.linkedin.com/in/ergophobe>;
> /"Don't bunt. Aim out of the ball park. Aim for the company of
> immortals." -- David Ogilvy
> /
>
> /This message was created with 100% recycled electrons. Please
> think twice before printing./
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> <mailto:bitcoin-dev at lists.linuxfoundation.org>
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
>
>
>
> _______________________________________________
> bitcoin-dev mailing list
> bitcoin-dev at lists.linuxfoundation.org
> https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev
>
Simon Liu [ARCHIVE] /
npub1a3…r6s85
2023-06-07 15:44:38
in reply to nevent1q…vahv
Author Public Key
npub1a3zpmn53lhv8jv7vjg3daletu2e6e9ce88737ga2r7dkr7yc7dss7r6s85Published at
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"content": "📅 Original date posted:2015-08-03\n📝 Original message:Increasing the block size shouldn't be a problem for Chinese miners.\nFive of the largest - F2Pool, Antpool, BW, BTCChina, Huobi - have\nalready signed a draft agreement indicating they are fine with an\nincrease to 8 MB: http://www.8btc.com/blocksize-increase-2\n\nWith regards to China's international bandwidth, not only is intra-Asia\ncapacity improving all the time, a major consortium cable FASTER is\ncoming online Q2 2016. Backed by Google, China Telecom and others, it\nhas a capacity of 60 Tbps, making it the highest-capacity data link ever\ncreated across the Pacific.\n\nInteractive map: http://www.submarinecablemap.com/\n\nFASTER: https://plus.google.com/+UrsH%C3%B6lzle/posts/haJzDXnp9Z4\n\n--Simon\n\nOn 08/02/2015 11:34 PM, Adam Back via bitcoin-dev wrote:\n\u003e If block-sizes are increased in a way detrimental to the Chinese miners,\n\u003e it is not the Chinese miners that lose, it is all of the non-Chinese\n\u003e miners - this is because the Chinese miners have the slight majority of\n\u003e the hashrate. The relatively low external bandwidth connecting China to\n\u003e the net is actually the problem of the non-Chinese miners problem. Non\n\u003e Chinese miners will experience higher orphan rate once Chinese miners\n\u003e cease to build on top of blocks that are too large to sync in a timely\n\u003e fashion into China.\n\u003e \n\u003e Adam\n\u003e \n\u003e On 2 August 2015 at 23:02, Jim Phillips via bitcoin-dev\n\u003e \u003cbitcoin-dev at lists.linuxfoundation.org\n\u003e \u003cmailto:bitcoin-dev at lists.linuxfoundation.org\u003e\u003e wrote:\n\u003e \n\u003e China is a communist country. It is no secret that all \"capitalist\"\n\u003e enterprises are essentially State controlled, or at the very least\n\u003e are subject to nationalization should the State deem it necessary.\n\u003e Most ASIC chips are manufactured in China, so they are cheap and\n\u003e accessible to Chinese miners. Electricity is subsidized and\n\u003e essentially free. Cooling is not an issue since large parts of China\n\u003e are mountainous and naturally cool. In short the Chinese miners have\n\u003e HUGE advantages over all other mining operations. This is probably\n\u003e why, between just the top 4 Chinese miners, the People's Republic of\n\u003e China effectively controls 57% of all the Bitcoin being mined.\n\u003e \n\u003e The ONLY disadvantage the Chinese miners have in competing with the\n\u003e rest of the world is bandwidth. China has poor connectivity with the\n\u003e rest of the world, and Chinese miners have said that an increase in\n\u003e the block size would be detrimental to them. I say, GOOD! Most of\n\u003e the free world has enough bandwidth to be able to handle larger\n\u003e blocks. We need to take advantage of that fact to get mining out of\n\u003e the centralized control of the Chinese.\n\u003e \n\u003e If you're truly worried about larger blocks causing centralization,\n\u003e think about how, by restricting blocksize, you're enabling the\n\u003e Communist Chinese government to maintain centralized control over\n\u003e 57% of the Bitcoin hashing power.\n\u003e \n\u003e --\n\u003e *James G. Phillips\n\u003e IV* \u003chttps://plus.google.com/u/0/113107039501292625391/posts\u003e \u003chttp://www.linkedin.com/in/ergophobe\u003e\n\u003e /\"Don't bunt. Aim out of the ball park. Aim for the company of\n\u003e immortals.\" -- David Ogilvy\n\u003e /\n\u003e \n\u003e /This message was created with 100% recycled electrons. Please\n\u003e think twice before printing./\n\u003e \n\u003e _______________________________________________\n\u003e bitcoin-dev mailing list\n\u003e bitcoin-dev at lists.linuxfoundation.org\n\u003e \u003cmailto:bitcoin-dev at lists.linuxfoundation.org\u003e\n\u003e https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev\n\u003e \n\u003e \n\u003e \n\u003e \n\u003e _______________________________________________\n\u003e bitcoin-dev mailing list\n\u003e bitcoin-dev at lists.linuxfoundation.org\n\u003e https://lists.linuxfoundation.org/mailman/listinfo/bitcoin-dev\n\u003e",
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