THE RISKS OF BITCOIN MINING CENTRALISATION w/ Bob Burnett
What Bitcoin Did
The Centralization Conundrum in Bitcoin Mining
This chapter explores the risks posed by miner centralization in Bitcoin, focusing on the dominance of a few major mining pools and their influence over transaction processes. It examines the implications of this concentration on Bitcoin's decentralized ethos and security, highlighting the dynamics of mining pools, payout structures, and the challenges smaller miners face. The discussion also covers the complexities of block chain integrity and the economic incentives that could lead to risky practices among miners.
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