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If Bitcoin usage and blocksize increase, then mining would simply migrate from 4 conglomerates in China (and Luke-Jr's slow internet =) to the top cities worldwide with Gigabit broadban - and price and volume would go way up. So how would this be "bad" for Bitcoin as a whole??
If Bitcoin usage and blocksize increase, then mining would simply migrate from 4 conglomerates in China (and Luke-Jr's slow internet =) to the top cities worldwide with Gigabit broadban - and price and volume would go way up. So how would this be "bad" for Bitcoin as a whole?? https://www.linkedin.com/pulse/20141104014739-90103575-top-24-cities-with-fastest-internet-speeds-in-2014 Top 24 Cities Having Fastest Download/Upload Speeds in 2014 The 2014 Cost of Connectivity report, which was produced between July 2014 and September 2014, says the top 24 cities having the fastest download/upload speeds in terms of Gigabytes per second (Gbps), equivalent to 1,000 Megabytes per second (Mbps), are as ranked in the above titled chart and listed below: 1 Gbps:
Hong Kong, People's Republic of China;
Chattanooga, Tennessee (USA);
Kansas City, Missouri (USA);
Kansas City, Kansas (USA);
Lafayette, Louisiana (USA);
Bristol, Virginia (USA)
(0.5 Gbps upload speeds) ^
(0.3 Gbps upload speeds) ^
(~0 Gbps upload speeds) ^ 0.5 Gbps:
Amsterdam, The Netherlands;
Los Angeles, California (USA);
New York City, New York (USA);
Washington, DC (USA)
Prague, Czech Republic
San Francisco, California (USA);
Mexico City, Mexico;
Berlin, Germany (0.1 Gbps upload speeds) ^
(~0 Gbps upload speeds) ^ Would mining still be "decentralized" enough if it simply spread out to these cities? The only danger I could think of would be a few weeks where ASICs would frantically get shipped from locations with slow internet to locations with fast internet. But mining would go on. Miners are always gonna mine. Our discourse needs to take into consideration the following possibilities: (1) The current concentration of mining power among a mere 4 mining conglomerates in China may be a by-product of the current mining parameters themselves - ie:
the availability of ASICs,
cheap electricity in China,
the arbitrary, artifificial 1 MB max block size (a temporary cap intended to fight spam - which now might actually help spammers)
slow internet in and out of China (across the Great Firewall?)
(2) Every different combination of these peramaters may favor some geographic regions more over others in terms of mining Proposition: It is not the responsibility of Bitcoin to worry about favoring some geographic locations for mining over others. It is not the responsibility of Bitcoin to worry about favoring existing, incumbent miners over new, future miners (possibly in different locations). Bitcoin's only responsibility is to favor its Users - by supporting increasing volume and value. If Bitcoin's need for speed sets off a global internet bandwidth arms race (as countries discover that bandwidth = money), then that would be a nice side-benefit.
There are lots of nice communities on IRC with rooms for discussing various topics and people giving free support for problems
You can access the Freenode IRC channel through your web browser here: http://webchat.freenode.net/ Channels begin with # and you can specify multiple ones using a , between them. i.e #bitcoin, #electrum, #coinbase
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