Bruce Fenton is a bitcoin investor and enthusiast who has helped fund multiple projects and manages $100MMs of assets.
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on the empty-blocks mined issue:
I don't see it as wrong... a miner either doesnt have time to validate latest block and include transactions before they find an answer that wins them 12.5, or they're choosing to reduce supply at their own immediate expense. They've got their overhead, they've won a block, even if they want to collude, they've invested enough to have this right and to throw away fees that they could have earned. If we don't like it, we can mine.
Would it be possible to reward one or more preferred miners, maybe via their well-published shared p2sh multi-sig, who do a good job of mining complete blocks by adding them as an output (where we include our fees) and send our transactions out with minimum or no standard input-output fees? Many miners will see a no-fees transaction and ignore but the miners who are members of the multi-sig could clear those transactions from the mempool when they see that preferred-miner fee output.
so I havn't considered what that would do to the fact that normally they'd have to wait 100 blocks to spend their coinbase, no clue how that changes things. I know that if I could have confidence that I knew of a pool of individual miners (large set of folks at home with minimal yet decentralized mining investments) that I'd prefer to throw an extra output in a no-fees transaction to reward this set of miners as long as I knew they were likely to find a block a couple times per day. (edited: it would be like voting for miner decentralization just as we do when we choose at the market).
The miners are interested in finding a nonce which will create a hash with certain characteristics. Lastly, they have to find a random value that they included in the header, which makes the computed hash over that header a value below a particular target. In other words, they do not have to agree to change the protocol. Though there are a few gold diggers attempting to fill their pockets and certain projects that aren`t viable and shouldn`t be encouraged in any way. For users running a complete node, it is a fairly painless procedure to upgrade the software to the newest version. The process of locating a new block to extend the blockchain is known as mining. Proof-of-Work systems utilize cryptographic hashing algorithms to create the action of mining a block a complicated computation. Our software is totally incompatible with altcoins. Changes and modifications to how that it works need to be approved by consensus and every CPU gets a vote. To start with, it`s essential to realize that hardware wallet users control entirely their private keys. Whether you`re bullish or bearish on Bitcoin Gold, you ought not lose your coins as a result of careless mistakes! On the 1 hand, it may result in making a coin that solves all the pending issues. There`s no currency or digital asset named Bitcoin Core. Bitcoin Cash increases the range of transactions that may be processed per block. You could send any quantity of money, any place in the Earth, almost at no cost. You`ve made some great money already on the market, but you want more. For a wealthy individual, BTC`s price premium may be viewed as a plus. For someone without lots of money, BCH`s low price may look like a great deal for Bitcoin. If you have some concerns about the worth of Bitcoin after all forks, you need to be ready for a drop. The distinction is that not all of these suffer the chain split. The primary problem is Bitcoin imposes a hard limit on the magnitude of a block, the location where transaction information becomes stored. The end result is many straightforward wallets, called SPV wallets and very commonly found on your phone, will be quite confused about which chain is Bitcoin. In Bitcoin, the most important reason is known as the network effect.