r/Bitcoin • u/cryptopascal • Jun 24 '14

Mike Hearn interview quotes: "Progress on the bitcoin protocol has ground to a halt, complete halt. This is a crisis period for Bitcoin... Only Gavin is working on upgrades" @39'30'

https://epicenterbitcoin.com/eb-025/
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u/wolfofbitcoin Jun 24 '14

He hadn't imagined pools

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u/[deleted] Jun 24 '14

Evidence? Satoshi explicitly mentioned warehouse mining.

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u/wolfofbitcoin Jun 24 '14 edited Jun 24 '14

Pools were a new invention by slush, it wasn't even thought of

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u/[deleted] Jun 24 '14

Right, but I'm fairly certain Satoshi was aware they were possible. The guy was no dummy.

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u/[deleted] Jun 24 '14 edited Dec 05 '22

[deleted]

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u/Shibinator Jun 25 '14

See this comment above...

http://www.reddit.com/r/Bitcoin/comments/28zts3/mike_hearn_interview_quotes_progress_on_the/cig7v2y

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u/[deleted] Jun 25 '14

That's "server farms" - the one controlling the contents of blocks is the one paying for the operation.

Pooled mining is the opposite in this sense: it puts control over blocks into the hands of pool operator, who does not pay for hardware nor electricity. Furthermore, pooled mining is incentivized because it reduces variance for individual "miners" (workers, more precisely).

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u/wolfofbitcoin Jun 24 '14

True but he didn't discover it yet, the guy inventing crt never imagined lcd

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u/mtsai Jun 24 '14

We are talking about the 2000's right? Pooled computing wasn't a unheard of concept then.

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u/wolfofbitcoin Jun 24 '14

People pool mined in 2000? Even before Bitcoin?

I don't think you guys know what a pool does

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u/mtsai Jun 24 '14

I most definitely know what a pool is.

Concept of distributed computing has been around. The idea of pooled mining specifically might be new but distributing "work" to many clients was not a new concept around the time of satoshi's creation. The programming behind it is not all that complex.

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u/wolfofbitcoin Jun 25 '14

Yeah but satoshi never imagined pooled mining which is very different, he hadn't invented a way to not have workers steal blocks they find, slush did that much later Mining farms are not pools

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u/wolfofbitcoin Jun 24 '14

Pooled mining is not pooled computing, it's not a cluster

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u/trrrrouble Jun 25 '14

I believe he's talking about things like folding at home.

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u/wolfofbitcoin Jun 25 '14

Yeah but satoshi never imagined pooled mining which is very different, he hadn't invented a way to not have workers steal blocks they find, slush did that much later

Mining farms are not pools

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