Mining pool game theory for censorship resistance is non-trivial. Your bitaxe or army of bitaxes will not stop compliant pubcos and pools from orphaning your blocks filled with blacklisted transactions.
For that you need substantial hashpower (+30% of global hashrate) to ensure non-OFAC compliant transactions are able to be settled.
That means big international miners cooperating to resist censorship, and big pools resisting censorship. It’s not as simple as virtue signalling with a desktop toy if you are actually considering the ramifications of state censorship of the base layer.
https://bitcointalk.org/index.php?topic=312668.0
BitcoinAlchemist / James Pierog
npub1u8…xjcky
2024-09-30 17:23:18
in reply to nevent1q…w9we
Author Public Key
npub1u8r69esh5r7jt29nj9ufmz4yvuwp6cwl5xqp4e3d46vl8wla5smsexjckySeen on
wss://relay.damus.ioPublished at
2024-09-30 17:23:18Event JSON
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"content": "Mining pool game theory for censorship resistance is non-trivial. Your bitaxe or army of bitaxes will not stop compliant pubcos and pools from orphaning your blocks filled with blacklisted transactions.\n\nFor that you need substantial hashpower (+30% of global hashrate) to ensure non-OFAC compliant transactions are able to be settled.\n\nThat means big international miners cooperating to resist censorship, and big pools resisting censorship. It’s not as simple as virtue signalling with a desktop toy if you are actually considering the ramifications of state censorship of the base layer.\n\nhttps://bitcointalk.org/index.php?topic=312668.0",
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