16:36:00 +07:00 Bitcoin Mining Decentralization ‘Not Great,’ Says Ordinals Creator - An investigation revealed that many mining pools have been flat out lying to miners, and miners, who decide on which transactions get into a bkock, were totally unnaware that their pools were actually just proxies for the same large mining pool. Currently 1 large mining pool handles 50% of all transactions. Miners have been reluctant to upgrade to a version which fixes the issue. Maybe they don't want to bite the hand that feeds them? Others blame the miners, speaking of 'the nuclear' option where the bitcoin community could change the algorithm in such a way as to put all current miners out of business, so a fresh cohort of miners that are willing to run the new version turn up. There's more detailed info in a recent TFTC podcast. On the whole quite bearish. Feels like it could result in quite a bit of a traffic jam. Also wouldn't the existence of a nuclear option cause some to conclude that ultimately the miners don't decide, even if that's what the marketing departments say? # unchainedcrypto.com