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Not long ago, the BSV chain was attacked again by 51% in a very short time. To solve this problem, the entire network had to undergo a revert. I cannot help to raise my concern that whether it will still be a decentralized blockchain when all the PoW hashrate is willing to move to the US and then go IPO?
The BTC Hashrate used to be "concentrated" in China. Although it seems that they belong to the same Chinese community from the view of the western countries, the miners are non-integrated believers of BTC. they present a four-party equilibrium. They restrict each other and balance the pattern.
Once in 2017, Bitmain’s “Antpool” and “BTC.com” have been subject to community controversy after the hashrate exceeded 51% of the entire network. However, most of the hashrate at that time came from scattered users all over the world. If the mining pool did evil things, users would inevitably make their choice by leaving. The name of "mining tyrant" is totally vain.
At this time, Bitmain sales are deeply involved in North America to find a “solution“ for their clients. Meantime, the hashrate of the "capitalist" listed camp is spreading, who obviously believe in the "dollar" and want "cash flow” comparing with bitcoin. So when most of the hashrate belongs to the "listed company" hashrate, who is listening to the order from the SEC, will “PoW” still be the previous PoW?
BTC will become a new ledger, and the signature pen will be held in the hands of the United States.
Let us boldly guess the future of the "North American BTC mining compliance development".
When the hashrate of the “North American listed company hashrate alliance” is greater than 51% of the entire network, the US government is likely to formulate a set of "mining pool standards" to eliminate "no-compliant” or the “Non-KYC“ one. The specific implementation path might be like this:
The hashrate of NASDAQ-listed companies requires access to regulated and standardized mining pools, and the computing power needs to be under KYC process.
When the hashrate of listed companies exceeds 51%, they are eligible to choose the longest chain.
There are two options for the non-listed companies with less hashrate, to access to regulated mining pools or to refuse supervision.
Not long ago, the BSV chain was attacked again by 51% in a very short time. To solve this problem, the entire network had to undergo a revert. I cannot help to raise my concern that whether it will still be a decentralized blockchain when all the PoW hashrate is willing to move to the US and then go IPO?
The BTC Hashrate used to be "concentrated" in China. Although it seems that they belong to the same Chinese community from the view of the western countries, the miners are non-integrated believers of BTC. they present a four-party equilibrium. They restrict each other and balance the pattern.
Once in 2017, Bitmain’s “Antpool” and “BTC.com” have been subject to community controversy after the hashrate exceeded 51% of the entire network. However, most of the hashrate at that time came from scattered users all over the world. If the mining pool did evil things, users would inevitably make their choice by leaving. The name of "mining tyrant" is totally vain.
At this time, Bitmain sales are deeply involved in North America to find a “solution“ for their clients. Meantime, the hashrate of the "capitalist" listed camp is spreading, who obviously believe in the "dollar" and want "cash flow” comparing with bitcoin. So when most of the hashrate belongs to the "listed company" hashrate, who is listening to the order from the SEC, will “PoW” still be the previous PoW?
BTC will become a new ledger, and the signature pen will be held in the hands of the United States.
Let us boldly guess the future of the "North American BTC mining compliance development".
When the hashrate of the “North American listed company hashrate alliance” is greater than 51% of the entire network, the US government is likely to formulate a set of "mining pool standards" to eliminate "no-compliant” or the “Non-KYC“ one. The specific implementation path might be like this:
The hashrate of NASDAQ-listed companies requires access to regulated and standardized mining pools, and the computing power needs to be under KYC process.
When the hashrate of listed companies exceeds 51%, they are eligible to choose the longest chain.
There are two options for the non-listed companies with less hashrate, to access to regulated mining pools or to refuse supervision.
Blocks exploded by non-standardized mining pools that do not accept supervision will be directly ignored. No one will follow their blocks, which means that there is no profit for them.
Immediately afterward, the standardized mining pool requires all transaction initiators to conduct KYC, and transactions that do not accept supervision will be discarded by the "compliant mining pool".
Since then, the BTC ledger has been compiled by the United States. There is no more Blockchianed PoW.
Blocks exploded by non-standardized mining pools that do not accept supervision will be directly ignored. No one will follow their blocks, which means that there is no profit for them.
Immediately afterward, the standardized mining pool requires all transaction initiators to conduct KYC, and transactions that do not accept supervision will be discarded by the "compliant mining pool".
Since then, the BTC ledger has been compiled by the United States. There is no more Blockchianed PoW.
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