TL;DR:
Foundry’s dominance in Bitcoin mining isn’t about reducing variance, as most of its large-scale clients don’t need that. Instead, miners use Foundry because it helps them comply with regulations, making Bitcoin mining more palatable to lawyers, accountants, and shareholders. This “compliance by proxy” comes at a high cost, centralizing mining power and creating risks for Bitcoin’s decentralized nature. As Foundry’s share of the network grows, it raises concerns about censorship and control, yet miners stick with it because it simplifies their operations in a regulatory-heavy environment—even at the expense of Bitcoin’s core values of decentralization and resilience.
How do we fix this my brother?
Replies (6)
Kind of like how people don't accept and pay people in bitcoin due to the regulatory burden.
Not everything can be solved af the protocol/technical level unfortunately. Bitcoiners need to gradually assert themselves as an unwavering political force in the society they live in and bring about regulatory change. It seems one of those situations where what brought us here won't get us there (everything IMHO obviously)
My favorite solution: add more privacy at the protocol level. All the compliance miners will leave.
Running more than 100.000 energy efficient solominers like bitaxes at plebs homes across the globe?
Each new #solominer running and actually solomining helps a bit more i think but i am no expert just started myself a few weeks ago.
If the pools and industrial miners won't do it we have to decentralize the networks hashrate by ourselves bit by bit it seems.
Do you think this would help? #bitaxe
nostr:npub1k8s3skyy5mg5h07w8zvuk5lgrqadmejz7fjdpl60zaznw8sxzdxqxm6y88nostr:npub18as53mh65p3wh4dzta4gf25yzvkyjwjfawdsqtyvqmnxunst7thq6rhf8r
I say Pleb Mining with private energy sources like coal, wood, solar.
It doesn't even have to be profitable; just less expensive than the fees at the least expensive bitcoin ATM.
Mining built into appliances we use everyday
