Not your rack, not your hash.
If you dont control the hardware you dont control where it mines and all hosted mining is white market.
The adversary is the threats from the state.
white market is anyone who abides by government regulations
black market are those who ignore or subvert it
White market mining is and always will be a security risk.
lets says 51% of hash is institutional mining in the US. A law is passed that any miner in the US must enforce OFAC censorship.
That 51% is now doing the opposite of securing the network.
https://github.com/libbitcoin/libbitcoin-system/wiki/Jurisdictional-Arbitrage-Fallacy
And it doesnt matter where you take your hashrate if 51% is enforcing censorship.
If you are in the US do you think giant mining farms are going to relocate or even be allowed to take their equipment out of the US to subvert US sanctions? Pools dont matter they are all centralized and trusted.
Much better to educate people about the actual security model and risks of white market mining.
Building out substantial hash defense beforehand makes things a lot easier instead of waiting to respond to an active 51% attack
#bitcoin cannot be both permissioned and permissionless at the same time
https://github.com/libbitcoin/libbitcoin-system/wiki/Permissionless-Principle
Kortik 🇦🇲 /
npub15l…z2796
2025-01-12 17:12:06
in reply to nevent1q…sceu
Author Public Key
npub15lmjekxgcl8337n0gnqnrcqatwyv9arhywjkvfh0x0tfjrn2nu2sgz2796Published at
2025-01-12 17:12:06Event JSON
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"content": "Not your rack, not your hash. \n\nIf you dont control the hardware you dont control where it mines and all hosted mining is white market.\n\nThe adversary is the threats from the state.\n\nwhite market is anyone who abides by government regulations\n\nblack market are those who ignore or subvert it\n\nWhite market mining is and always will be a security risk.\n\nlets says 51% of hash is institutional mining in the US. A law is passed that any miner in the US must enforce OFAC censorship. \n\nThat 51% is now doing the opposite of securing the network.\n\nhttps://github.com/libbitcoin/libbitcoin-system/wiki/Jurisdictional-Arbitrage-Fallacy\n\nAnd it doesnt matter where you take your hashrate if 51% is enforcing censorship. \nIf you are in the US do you think giant mining farms are going to relocate or even be allowed to take their equipment out of the US to subvert US sanctions? Pools dont matter they are all centralized and trusted.\n\nMuch better to educate people about the actual security model and risks of white market mining. \nBuilding out substantial hash defense beforehand makes things a lot easier instead of waiting to respond to an active 51% attack\n\n\n #bitcoin cannot be both permissioned and permissionless at the same time \n\nhttps://github.com/libbitcoin/libbitcoin-system/wiki/Permissionless-Principle",
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