Author Topic: Benefit of eliminating mining pools?  (Read 2137 times)

0 Members and 1 Guest are viewing this topic.

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12922
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BitShares: xeroc
  • GitHub: xeroc
Overall hashpower will be lower without pool mining.
More energy is waste if you don't have a pool. Simply because hardware potentially derives hashes that have been derived earlier by another miner

That isn't true, every user is generating a unique sequence because their key is factored into the hash, no two miners ever generate the same hashes.
I came to the same conclusion thinking about it more closely.

Offline monsterer

Overall hashpower will be lower without pool mining.
More energy is waste if you don't have a pool. Simply because hardware potentially derives hashes that have been derived earlier by another miner

Only true if orphaned blocks don't contribute anything.
My opinions do not represent those of metaexchange unless explicitly stated.
https://metaexchange.info | Bitcoin<->Altcoin exchange | Instant | Safe | Low spreads

Offline Empirical1.2

  • Hero Member
  • *****
  • Posts: 1366
    • View Profile
Mining pools promote centralization of block production, but decentralization of hashing power.

What about a coin with subsidized P2P pool? https://en.bitcoin.it/wiki/P2Pool

Quote
Decentralized payout pooling solves the problem of centralized mining pools degrading the decentralization of Bitcoin and avoids the risk of hard to detect theft by pool operators.

I don't understand mining very well but with a subsidized P2P pool couldn't hashers get the benefit of the much lower variance they get from a centralized pool but with a slightly higher reward while the network gets the benefit of reducing the centralization of block production?
If you want to take the island burn the boats

Offline bytemaster

Overall hashpower will be lower without pool mining.
More energy is waste if you don't have a pool. Simply because hardware potentially derives hashes that have been derived earlier by another miner

That isn't true, every user is generating a unique sequence because their key is factored into the hash, no two miners ever generate the same hashes.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12922
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BitShares: xeroc
  • GitHub: xeroc
Overall hashpower will be lower without pool mining.
More energy is waste if you don't have a pool. Simply because hardware potentially derives hashes that have been derived earlier by another miner

Offline bytemaster

Mining pools promote centralization of block production, but decentralization of hashing power.

A system without mining pools would be dominated by large solo miners and smaller miners would be unable to participate at all.

Overall hashpower will be lower without pool mining.

Number of block producers would be greater (better censorship resistance).

Others?
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline sittingduck

  • Sr. Member
  • ****
  • Posts: 246
    • View Profile
Ignoring the problems with mining in general... Which is better: a coin that is mining pool proof or one that supports pools? 

Why?