Re: [Bitcoin-development] Decentralizing mining

2013-06-17 Thread Peter Todd
On Mon, Jun 17, 2013 at 11:16:01AM -0400, Jeff Garzik wrote: > > Part of the broader issue that when we send peers INV advertisements we > > should be telling them what the fee/kb is so our peers can prioritize > > properly. That'd also help for the case where you want to broadcast two > > transact

Re: [Bitcoin-development] Decentralizing mining

2013-06-17 Thread Jeff Garzik
On Fri, Jun 14, 2013 at 4:06 PM, Peter Todd wrote: > It strikes me that this would work best if the pool has a mempool with > child-pays-for-parent support where conflicts *are* allowed. > > IE you record whatever transactions you know about, conflicting or not, > calculate which ones gives you th

Re: [Bitcoin-development] Decentralizing mining

2013-06-14 Thread Luke-Jr
On Friday, June 14, 2013 8:06:54 PM Peter Todd wrote: > On Mon, Jun 10, 2013 at 09:23:14PM +, Luke-Jr wrote: > > Might as well just use higher difficulty shares (each one audited) for > > the same effect. Block proposals allow the miner to tell the pool its > > transaction set once (per txset c

Re: [Bitcoin-development] Decentralizing mining

2013-06-14 Thread Peter Todd
On Mon, Jun 10, 2013 at 09:23:14PM +, Luke-Jr wrote: > > They always (usually?) work on the subset of transactions common to both > > the pool's getblocktemplate and their local one. When they find a share > > if it doesn't meet difficulty they just hand it to the pool. Currently > > that is do

Re: [Bitcoin-development] Decentralizing mining

2013-06-10 Thread Melvin Carvalho
On 10 June 2013 23:09, Peter Todd wrote: > So here's the parts that need to be done for step #1: > > > # Protocol Work > > Basic idea is the miner makes two connections, their pool, and a local > bitcoind. > > They always (usually?) work on the subset of transactions common to both > the pool's g

Re: [Bitcoin-development] Decentralizing mining

2013-06-10 Thread Luke-Jr
On Monday, June 10, 2013 9:09:13 PM Peter Todd wrote: > # Protocol Work This is basically done. > Basic idea is the miner makes two connections, their pool, and a local > bitcoind. > > They always (usually?) work on the subset of transactions common to both > the pool's getblocktemplate and thei

Re: [Bitcoin-development] Decentralizing mining

2013-06-10 Thread Peter Todd
So here's the parts that need to be done for step #1: # Protocol Work Basic idea is the miner makes two connections, their pool, and a local bitcoind. They always (usually?) work on the subset of transactions common to both the pool's getblocktemplate and their local one. When they find a share

Re: [Bitcoin-development] Decentralizing mining

2013-05-31 Thread Adam Back
I like this idea a lot. To add: I think it is a bug and security risk if pooled-solo or (current pooled miners) do not add randomness to their extraNonce2 (like 128-bits of it). For privacy and to avoid various hostile-pre-mining attacks it should be done this way. Lack of the self-chosen challe

[Bitcoin-development] Decentralizing mining

2013-05-31 Thread Peter Todd
I just posted the following to bitcointalk. https://bitcointalk.org/index.php?topic=221164.0 Right now between two to four running the largest pools control Bitcoin in the short term. That's a lot of hashing power in the hands of very, very few people. In addition pools have little incentive to