๐๐ฒ๐ ๐ง๐ต๐ฒ ๐จ๐น๐๐ถ๐บ๐ฎ๐๐ฒ ๐๐๐ถ๐ฑ๐ฒ ๐ง๐ผ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป:
https://www.trader.university/courses/38824-the-ultimate-guide-to-bitcoin
Use the discount code YT99 to get the best price.
In this video, I dispel the FUD surrounding the concentration of Bitcoin mining pools.
Bitcoin mining pools are nothing more than node services that exist in cyberspace. They do not custody the actual Bitcoin mining machines (ASICs), which are free to come and go as they please.
If a Bitcoin mining pool does something shady, people will point their ASICs to a different mining pool, as happened with Poolin in 2022.
Actual concentration and custody does exist in Ethereum staking pools, and has led to OFAC censorship at the protocol level.
Not investment advice! Consult a financial advisor.
The centralization of Bitcoin: Behind the two mining pools controlling 51% of the global hash rate:
The centralization of Bitcoin: Behind the two mining pools controlling 51% of the global hash rate
Bitcoin mining pools pie charts:
https://www.blockchain.com/explorer/charts/pools
https://btc.com/stats/pool?pool_mode=week
Top Bitcoin Mining Pool Freezes Withdrawals Due to Liquidity Issues:
https://decrypt.co/109093/top-bitcoin-mining-pool-freezes-withdrawals-due-to-liquidity-issues
Bitcoin Mining Pool In Trouble:
Michael Saylor’s map of Bitcoin ASICs:
#Bitcoin miners are a globally decentralized network. pic.twitter.com/vTQkxE5DJP
— Michael Saylorโก๏ธ (@saylor) October 11, 2022
Ethereum staking pool distribution:
https://beaconcha.in/pools
Active OFAC censorship on Ethereum:
https://www.mevwatch.info/
I am not being paid or otherwise compensated by any company or cryptocurrency project that I mention in my videos.
My opinion is not for sale. Please do not contact me with any affiliate or advertising deals.
#bitcoin
#bitcoinmining
#ethereum
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23 Comments
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Matt is there anything that could cause you to lose your faith in Bitcoin?
Gary G. Stated, BTC is real! He has never said shit coins are real. He needs to ban all centralized coins which would be all ALT coins. They are PONZI schemes!! Let these dumb people lose everything!
My Antminer heats my basement in the winter. It's friggin awesome. I mine, support the network, and heat my house all in one shot! BTC FTW!
Matt, what screen capture program are you using; I'd like to have a similar set up. Thank you
After everything have been through Am glad this ๐ฃplatform up here๐ฃ proved themself to be trustworthy
After everything have been through Am glad this ๐ฃplatform up here๐ฃ proved themself to be trustworthy
Sorry Matt but I don't find your argument entirely persuasive. How is this not like Spotify, in which a small musician is enslaved to the 'pool' to have any hope of reward? "Point at a different pool" works in the current environment, but what if we find ourselves in a situation where one pool has something like 90% of the hashrate?
Wow the nerve of the XRP shills. What a time we are living in.
So, what are the prospects of getting our staked etherium back?
Are advancements in free energy (fusion etc) and AI that are centralised or kept hidden from the general public a possible risk to bitcoin?
Excellent content, as always, I'm so glad I discovered your channel a few weeks ago! What do you say to the argument that there are large economies of scale with PoW mining (superlinear ROI), so mining (not just pools) becomes centralized, whereas with proof of stake, validators are more decentralized because ROI is linear, no economy of scale? (I'm a bitcoin maxi, bitcoin core dev, but arguing with a PoS supporter. I live near Denver, by the way!) Thanks for all you do!
Spot on ๐ป
Thanks for your work, we learn a lot from you, Matthew!!
If fiat money no longer existed, how would bitcoin be purchased?
ASIC decentralization is a great point you bring up here. In your earlier video addressing the "mining pool centralization" fud, you talked about how running your own node provides counter to any potential form of centralization. I am mentioning it here only to encourage the serious students of bitcoin to run their own node.
Limitless amount idiots in this world….
can pools select which transactions go into a block? or it is the asic that selects that?
Knowledge is power. But we still don't know who Satoshi is (not trying to be ironic by the way)
Should people be pointing to some of the smaller players to get to 5% per pool? This would avoid over centralization of some of the pools.
isn't it ironic, that a software becomes the most greening machine ever?
every incentive point towards world competition in energy innovation because you can convert limited present energy into an asset of unlimited future energy.
"To live a creative life, we must lose our fear of being wrong." –Anonymous
Xrp investors๐คก๐คก๐คก๐คก