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@cryptorebel wrote:

@hankdasilva some people think mining will become more decentralized over time: https://medium.com/@lopp/the-future-of-bitcoin-mining-ac9c3dc39c60

Ah sorry I debunked the PoW as space heaters in my unpublished whitepaper:

5.1.1 Specialization

As noted in the sub-sections Selfish Mining Example, Proof-of-Work on CPUs, and Proof-of-Work as Space Heaters, economies-of-scale enable opportunities for specialization of ASICs, data center cooling systems, etc., which foster lowest cost miners that have much higher profits and pro rata rate of return-on-investment than the marginal miners. This is a power vacuum feedback loop because the economies-of-scale grow faster for those with more economy-of-scale.

Proof-of-Work on CPUs

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The fuel efficiency of an internal combustion engine (ICE) is significantly determined by its thermal efficiency and the fuel density¹ — independent of the type of fuel the thermal density dominates. There’s other fuel efficiency factors such as the following some which either have a minor effect or are already practically nearly fully optimized:

• friction of moving parts
• inefficient combustion
• heat loss from the combustion chamber
• departure of the working fluid from the thermodynamic properties of an ideal gas
• aerodynamic drag of air moving through the engine
• energy used by auxiliary equipment like oil and water pumps.
• inefficient compressors and turbines
• imperfect valve timing

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Get Ready for a World Currency

The future of money, currency, governance, economy, and civilization is to be determined by the confluence of public confidence, politics, culture, economics, and technology.

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Plane Flyover; Explosives Planted Inside The Pentagon

The flight data recorder and credible witness testimony are compelling evidence the plane flew over the Pentagon on 9/11.

These facts explained below have been hidden under our proverbial no(i)se for 17 years.

Every citizen on earth has a civic duty to study this information. The intentional wars and destabilizations that have followed 9/11 for example in the Middle East, the migration invasions, the divisive politics tearing apart the U.S.A, as well as the possible coming nuclear war between the USA and Russia has been perpetrated by the global elite[mafia] who masterminded 9/11. I wrote:

This cabal is the p

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DDoS Defense Employing Public Key Cryptography

A fast rejection signature is an essential ingredient for asymmetric leverage against distributed denial-of-service in many scenarios.

Distributed denial-of-service (DDoS)

At a high level of abstraction, the ontological taxonomy of denial-of-service attacks categorize into either A) network bandwidth flooding; or B) saturated consumption a resource other than bandwidth[1].

In both cases, the attacker gains leverage by exploiting some asymmetry in the consumption or (uncompensated) cost of the attacked resource.

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5.4 Synchronous

PoW’s lack of concurrent (aka asynchronous) partial orders as elaborated in the sub-section Aliasing, doesn’t directly negate resiliency and liveness, because every mining node is eligible to produce the next block. But the resiliency and liveness provided by the availability of a diverse (in geography, performance, policies, cost structure, etc) plurality of miners competing to produce the next block is always diminishing as explained in the sub-section Censorship.

There is no asynchronous (i.e. concurrency of) transaction ordering for scaling transaction volume throughput. Only the mining node (possibly a pool) that produces the next block may add transactions during the block period, and all transactions must be propagated to every node. The transaction throughput can theoretically be increased by increasing the block size, although this creates other scaling limitations such as O(n²) propagation to, and validation load on, all nodes― even those

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5.1 Dictatorship

The subsequent sections will explain in detail why PoW is posited to be a winner-take-all power vacuum, and the harmful effects anticipated.

Unlike for example a farm or factory which have a diminishing rate of marginal utility of economies-of-scale, i.e. economies-of-scale above which no further increases in pro rata profit are obtained, the marginal utility of additional economies-of-scale in PoW hashrate do not diminish until greater then 50% of the systemic hashrate is consolidated, which is the winner-take-all outcome.

Power vacuums are disequilibria that fail because they are incongruent with the fact that small things grow exponentially faster than large things.[34] Most small things don’t grow large enough to become stable large things, e.g. the competing saplings in the forest, because they have more competition and friction. Analogously most of the lower middle class and poor don’t grow wealthy because a higher portion of a lower income is budgeted for food instead of saving

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6. Delegated Proof-of-Stake

Dictatorship: Exponential or power-law distribution of the control of stake is a power-vacuum trending toward a winner-take-all disequilibrium.

Censorship: Not a permissionless free market to add transaction events and stand up consensus ordering (i.e. delegate witness) nodes. Eventually the winner-take-all cartel of power-law distributed whales are in control.

Monopolistic: Funding for delegate witness is not set in a competitive free market of transaction fees. Instead eventually the winner-take-all cartel of power-law distributed whales decide both the set witnesses and the level of funding generated from minting supply, thus effectively deciding how much to pay themselves by debasing the money supply.

Synchronous: No asynchronous concurrency of transaction ordering for enhanced scaling, throughput, resiliency, and liveness. Only the witness that produces the next block may add transactions during the block period, and all transactions must be propagated

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5.3 Monopolistic

There is no possible solution to the block size dilemma in Satoshi’s proof-of-work design, except for a power vacuum driven monopolistic outcome.

If the block size is constrained and when the transaction volume exceeds the block size, a fee market is created in which lower valued transactions will be delayed (some indefinitely), i.e. “crowded out”, because the more high valued transactions (with their presumably higher fees) take priority. Above some levels of transaction volume for a given block size, some threshold of lower valued transactions will not be added to a block indefinitely. And the constrained block size that causes this undesirable outcome may be necessary to prevent consensus incentive incompatibilities[45] (i.e. disincentive to form consensus, thus forking and other chaos) when minted block rewards cease.[46]

If a) the block size is unbounded, b) the minted block reward is significantly greater than the average transaction fees per block, and c) no mining ca

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5.1.2 Invisible Majority Hashrate Attacks

The majority hashrate (aka “51%”) attack which orphans some or all of the minority’s blocks is not objectively distinguishable from a random result. Some blocks are orphaned and others are not, yet there is no way to objectively prove from the information stored in the blockchain that a 51% attack was present. Clues might be indicative of a 51% attack such as a higher orphan rate, but this can also be caused by network delays which is what the 51% attack masquerades to other mining nodes. Tracking down nodes which are participating in the attack is not plausible because IP addresses and even pools can be a Sybil attack.[41] There can’t exist an objective perspective in the Byzantine Generals Problem (aka “BGP”) without a total perspective.[42] Yet a total perspective is not a BGP.

Unless a minority hashrate miner has, or is in a pool that has, at least ¹/₃ of the systemic hashrate, they won’t be able to triangulate to differentiate between random bad luck or