Bitcoin Is Centralized

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🔗 Useful Links 🔗
Stratum: stratumprotocol.org/
Ocean: ocean.xyz/
Mononautical (Analysis): x.com/mononautical/status/177...
Mining Stats: mempool.space/mining
AntPool Analysis: www.nobsbitcoin.com/bitmain-a...
Todays video dives into the topic of Bitcoin mining centralization. We examine the role of mining pools, specifically Ant Pool's dominance, and its potential impact on Bitcoin's decentralized nature. How does mining centralization compromise users? We explore the challenges and solutions to maintain a decentralized Bitcoin network.
👇CHAPTERS 👇
00:00 Intro
01:00 Bitcoin Mining Centralization
01:50 What Is Bitcoin Mining?
04:20 What Are Mining Pools?
05:54 Why Is Bitcoin Centralized?
07:35 Who Owns Ant Pool?
09:30 Privacy Sacrifices
11:17 How To Fight Centralization
#bitcoin #btc #crypto #cryptonews #cryptocurrency

[@CryptoTips]

Help fight centralization! 👇 Stratum: stratumprotocol.org/ Ocean: ocean.xyz/

[@user-wg2vw3mz1v]

@CryptoTips Bitcoin nodes enforce the rules, not miners. This was a deliberate design decision by Satoshi.

[@ronregnier2179]

face palm.....stupid thumbnails

[@001minky]

I have another recommendation - Demand pool.

[@j.mrodriguez1493]

Nice to see a video not focusing on price

[@bheathman1]

Love BTC. I've been contemplating mining for years, it might be time. Anything that gives the middle finger to central banks puts a smile on my face😊😊😊

[@barryoneill-ec9zz]

I invested a lot of money last year, bought a coin, Im very happy today,

[@miguelquazar883]

Need KYC to Buy it. Need KYC to sell it. Unless you do a private face to face sale and even that has to be done right while considering many precautions. One fck up and you are now compromised. Even ads to meet in person for a private BTC are being taken down all over. Waiting to mine is a bad idea. As time goes on mining becomes much more difficult and extremely expensive. Just being real. I can't stand people that sugar-coat this stuff. Mining is expensive as hell. The equipment is very expensive and to run the equipment is very expensive as well.

[@user-wg2vw3mz1v]

Bitcoin nodes enforce the rules, not miners. This was a deliberate design decision by Satoshi.

[@technotarzan4044]

absolutely correct, operating a BTC and a Lightning node AND mining... doing my part!

[@tovarco]

@@technotarzan4044 I think all of in crypto should be doing more to protect BTC. We all need to get active. I say start at the gov level....pro-crypto politicians only. Others...get voted out.

[@elmerdsalazar9828]

I thought HTC was launching a phone with a built in node a few years back but seems like they scrapped it, wonder why since I thought that was a really good idea

[@zebageba]

Satoshi = Government

[@rclewis01]

@@zebageba implying that the government controls Bitcoin. That is like saying China invented gunpowder, therefore they control all bullets. Sorry, but technology eventually gets away from everyone that creates it.

[@bigguix]

I have a s19 at home heating the garage ! i'm doing my part !

[@rclewis01]

I'm doing solo mining with an old s9 to heat my office. Costs the same as a heater, but I'm playing the lottery every 10 minutes. I also have a full node. We need more people doing their part.

[@cryptoshrimp2075]

This topic needs more light shed on it, thanks Heidi

[@thebombu]

Good to see focus on solution.

[@JenniferFernandez-72]

After so much struggles I now own a new house and my family is happy once again everything is finally falling into place!!

[@Peaceable75]

Thanks guys! I appreciate y'all for this clear explanation.

[@SteveOak.El-Bitcoinero]

The fiesta Block rewards were 50/Block 1st halfing 25. 12.5 2nd, 6.25 3rd and the latest is 3.125.

[@ronfeggio]

Timely advice. Recently, I have growing concern with the profitability of mining. With fewer coins to claim each havening, the competition increasingly favors the well funded, large mining firms. Eventually, it appears that all mining could end up in the hands of 'centralized' firms. If that happens, there would be no need for CBDCs. BTC could easily end up under the control of central banks.

[@Hat6000]

Scary thought. I hope this becomes widely known and encourages more people to get involved in these decentralized mining pools.

[@bobasawrus]

It makes a lot of sense. This goes much further than just profitability. I may just get a machine so that I can participate in keeping mining decentralized.

[@rclewis01]

Or, Bitcoin core could do a fork that ignores Bitcoin block creation from the biggest 2 pools. We vote with our nodes by using that version that ignores antpool and foundry.

[@Hat6000]

@@rclewis01 I like the way you think. There is always a way, BTC came about by someone thinking outside the box they want us all in and that is what makes genius.

[@Angelgrl]

Thank you both 😊❤

[@ArturoTorras]

Thank you, you are right. It was an amazing , inspirational video.

[@CryztalSeth]

Great video, much needed!

[@lowrystcol]

Thank you Heidi. I've been watching your videos since the beginning. Amazing work as always!! You are my most trusted Bitcoin advisor on the planet.

[@tafindley]

Great info on some serious majority control that's developing.

[@RobertaKC1]

Thank you.😊

[@SocialNetArchitecks]

thanks for this revealing research and for the recommendations.

[@user-km2vd1px3z]

Thank you, Heidi

[@arnaldo6784]

Excellent topic love the mining industry do more videos like this or in the prive page at learning crypto. I wold love to do more in the mining space

[@scotane7753]

Very informative thanks.

[@constantine5312]

Keep the dude out of your videos and ill keep watching. You are mich more of what I want to listen to

[@OazarfTV]

thank you

[@BitcoinAndCryptoCurrency]

thanks for the information it was very good

[@michaelsteven1090]

Great video Heidi! Your efforts are much appreciated.

[@CryptoTips]

Thank you so much! 😊

[@jaythay4716]

BTC forever!

[@joshc7865]

Wakanda!

[@dsflat6785]

Adaptive Blocksize Limit Algorithm Goes Live on Bitcoin Cash Network BCH is up about 300% in one year, over twice as much as BTC... The BCH chart looks a bit like the 2016 BTC chart when BTC went from $450 to $18,000

[@JL-qo7cs]

Very good. Educational

[@Buckaroo801]

Great detailed overview of problem vs solution

[@janchakos2648]

Thanks Heidi

[@karendale7537]

great info heidi

[@peaceranger7215]

brilliant video

[@BitcoinAndCryptoCurrency]

very good to learn the currency future

[@joseph2707]

Excellent!

[@steveinsj]

The very first time I ever saw you on YT was when you interviewed Told Blackburn. That was a long time ago - 👍

[@Bitcoineafins]

Hello from Portugal, Heidi! Great video as always. Thanks for this important highlight. Most people don't think about the concentration from pools. Keep it up 👍

[@loveepeace]

wonderful

[@merlymerlz]

Is that a 6’3” chilling in the background?

[@christooley8772]

.....mic drop! Well spoken

[@user-cb7xn7vn8d]

great video of yours! Consider teaching your public. about BISQ, that you be great!

[@lamaludwig1470]

12:45 think so, too

[@muhammadkhan-qt1kj]

I love your voice ❤

[@DoctorGamerTV]

Top three bitcoin mining companies control 68.97% of total hash rate at the moment. And we are getting these consecutive runs of up to four blocks by a single mining company, and it is concerning. But now we have $300 mining rigs doing 4 TH/s and other inexpensive options, and then the choice of supporting the appropriate mining pool to promote decentralization. And what if every home miner allocated some percentage of their hashing power to solo mining? maybe this can be built in as a feature of home rigs. if everyone running a rig at home were also solo mining, even at a few GH/s each, then the total.. thanks for the great video!

[@barryoneill-ec9zz]

Black Rock will buy out the remaining miners

[@grumpymcgrump5822]

Nice idea, Heidi, but every time I invested in a small mining pool, my money got stolen. Are you personally vouching for the legitimacy of the small mining pools you mentioned?

[@edwardsondamaso9432]

Will Kaspa reach the same faith in the future? pros and cons?

[@benoit8850]

Saylor is not selling, he's using his compagny to offer exposure to other companies that can't directly invest in bitcoin or bitcoin ETF

[@travln1144]

I wonder if quantum compute can wreak mining.

[@bubble6579]

WHAT is KOBO?

[@roderickherndon384]

Ocean for sure

[@tendosingh5682]

What happens when all BTC mined? Isnt the mining that creates security on the network? Also difficulty increase is exponential so might become infeasible to continue mining for most or all.

[@Tonysmithmusic]

2140, we won’t be here so probably not worth worrying about, btc network will still have fees for miners so that will probably be the model from then on.

[@cartergarnon6299]

They’ll still get fees for verifying transactions…and the number of daily transactions will be in the trillions. Micro transactions will soon be everywhere, but cannot exist in the fiat world.

[@davycrockett8886]

This is true. It's a flaw in Bitcoin's design. The halvings and the technical nature of mining, leads to a highly specialised industry where decentralization is unlikely.

[@CryptoTips]

The difficulty is adjusted every two weeks according to how much hashrate (computing power) is attributing to mining it. If it’s too difficult (expensive) to mine then in two weeks it becomes easier (cheaper)

[@matthewbrock9073]

Been watching Matthew Kratter videos?

[@chibuzorifediorah5045]

Bitcoin university 😊

[@ItsVincentAgain]

You can't control the uncontrollable.

[@rof8200]

Ethereum is more decentralized because it can slash bad actors. Also normal people can set up validators via rocketpool

[@tovarco]

Great video! Again fellow crypto small fish....do you see now? No you just cant sit there and wait for the lambo to fall from the sky. Get active in anyway you can to help our Bitcoin etc.

[@ihesiulo]

More Heidi pls

[@SlackHoffman]

What stick you ride Heidi ? Waves 🌊 O’Tay Surf 🏄‍♂️ All Day ✌️🤙

[@tarponjohn]

That was literally one of your best videos 😉 thank you for sharing your research. I can see you back in Indonesia. I’ve been following you initially and now you both for sometime always impressed with the passion for a free future for all through cryptocurrency. U 💪 Sometimes I think you guys are a little bit over ambitious with your desires for privacy… my view is and always been. We should have nothing to hide and we should have nothing to fear if we have the right people managing our best interests…. Sadly the unfortunate reality is that they are very few people in this world with our best interest at heart except those close to us… you doing a great job trying your best to educate people. We all need to think more 🙏🏻🙏🏻🙏🏻

[@holodeckdragon8876]

really important video. keep on it so we can keep on it!!!

[@zhonwarmon]

Bitcoin also has privacy issues that snowden been warning about, maybe the biggest coin but no longer the best

[@hammerhead19able]

Your freaking me out!!😮😮😅

[@stevedee4101]

I've always wondered, who creates the complex mathematical equations that validators must solve in order to mine BTC?

[@timinri1989]

Mining = printing $$$

[@GamesWorldTT]

Bitcoin to the moon

[@northshoreplaid]

Any Made in USA Asic Mining Rigs...? I don't want to think about buying any Chinese rigs.

[@mklrodzpad4629]

Too late! I'm freaked!

[@mekedeniz6612]

With copytrading, you could be sipping coffee on a balcony overlooking a bustling city skyline or lounging on a pristine beach, all while your investments work for you. Picture the freedom to pursue your passions, travel the world, and create lasting memories with your loved ones, all because you took the initiative to harness the power of copytrading and build the life you've always dreamed of

[@ameliavanessa6266]

I'm celebrating a $30k stock portfolio today. started this journey with 6k. I have invested on time and also with the right terms now I have time for my family and the life ahead of me just one of the things copy tradee can do.

[@deltadawn8590]

Do you invest with a professional broker? I'd appreciate it if you show me how to go about it.

[@mekedeniz6612]

All I do is simple I just activate my account to copy trades from Rutherford and that's all

[@mekedeniz6612]

- Bullishwilliams

[@lerroythiago5105]

He's a renowned hedgefund manager

[@beachbumLifestyle]

This is why I invest in icp! No matter what everything is built on chain and you cannot be centralized ever!

[@hammerhead19able]

Really?

[@beachbumLifestyle]

@@hammerhead19able absolutely btc and eth are on Amazon web servers for there transactions btc isn’t decentralized at all compared to solana and ada it most definitely is but none the less icp is the only crypto that has everything on chain and not relying on a web server!

[@craigg.2546]

5 bucks says 16 yrs ago a piece of software SETI was actually mining BC in someone else's name...

[@elmerhomero8838]

In the early days You only could mine 50 bitcoins every block.

[@DJ-Illuminate]

Wisconsin pension fund just bought 100 million BTC ETF.

[@gftftt8463]

This is shocking!

[@ericgonzales5057]

First time watching here! She is really smart, I enjoyed learning about the information and data and explanations from her. Also very pretty, Thanks for the video!

[@naveenratan]

Wrong info, 50 btc per block reward in early days not 100

[@Doktati]

❤ Kaspa ❤ Enjoy Bitcoin as long as you can. ❤

[@pjones9088]

Are you filming this in the Ments? 😂

[@hakeemnwatu6968]

Thank you for this wonderful post. Cryptocurrency is on the rise right now

[@DuaneTheOakHirst]

I was wondering if you could post a video about why we should invest in bitcoin? My concern is that since the fees are so high even at certain times of the day, it seems it could wipe out any profits I might make. Even if I hold i could lose half when cashed out. I love your content. Thanks

[@davycrockett8886]

The Chinese could still essentially control Bitcoin. Never mind Bitmain and Antpool, they dominated mining in the past and moved a lot of operations to the United States. Just the other day the US government closed down a Chinese mining operation. Not that this is a big problem I guess, I don't think the Chinese in the United States are under China's control.

[@justinmajors7142]

People that are freaking out haven’t done enough research on bitcoin 😂

[@FortuneCookieLies]

The mining aspect is centralized by design. In Plato's Republic, there are three forms of government. The timocracy where owners/stakeholders control the society. The Oligarchy where the skilled/merit get to rule. The dictator where there is only one to rule. The US government was setup in this manner and it is to play to the strengths. Originally, only land owners could vote to those in power and anyone could become a land owner. Then there is the judges which is the oligarchy who are skilled at reading and interpreting the law to ensure justice is fair in rare and unique disputes and to enact punishment. Finally, you have the dictator which is the president. Each plays to the strengths of the others. Bitcoin is mildly setup in the same manner. The Timocracy is the voting by use. The oligarchy is the validators. The dictator is the code and writers write the dictator and it is confirmed by the timocracy while the fees are distributed to the oligarchy. It is an interesting system and hopefully it plays to the strengths of the forms of governing and maintaining.

[@viralsheddingzombie5324]

How do we know BTC is still in a bull run?

[@88gcllc]

Get a clue no coiner

[@viralsheddingzombie5324]

@@88gcllc Answer the Q.

[@bernardmacarius2635]

Centralized anything can occur with enough resources. Hell look at the U.S. Despite Anti-trust laws, entire markets are being gobbled up! Food is a huge concern of mine.

[@neilpage3883]

NEVER WILL BE CENTRELIZED.

[@DS-ku1il]

♥️

[@asificam1]

This is why we need Monero to survive.

[@lteredcarbon]

I like these cosplay guestures.😄

[@muzza6836]

That looks like a 6 foot swallow tail thruster in background

[@teohsoonkeat3058]

The secret they will not tell u.

[@dsflat6785]

BTC isn't really A Peer-to-Peer Network, small blocks require off-chain solutions which are run by financial institutions. Ironically the thing that Satoshi created Bitcoin to avoid. Bitcoin with big blocks doesn't require third party money transmitters, Bitcoin Cash is a better Bitcoin

[@21Million]

After each successive halving, the less and less I care about centralization of mining. All the verification of Bitcoin txs are still totally decentralized. Do I think that centralization of Gold mining operations somehow centralizes Gold? No. A lack of "verifyability" is what centralizes gold. Bitcoin has 100% decentralization of verifyability.

[@davycrockett8886]

This is super naïve. You need decentralization to protect your BTC.

[@blackmennewstyle]

BTC has been centralized since it sold out the POW network security to ASIC manufacturers. ASIC manufacturers are ruining all POW networks. The only thing they are truly securing is their revenues and profits.

[@zebageba]

Controlled by the ETFs.

[@HOOKaFISH]

BTC's centralization and privacy problems started with being used with the internet. I prefer a hand held radio powered by a potato.

[@Hat6000]

This is disturbing news and not happy face making, but facing reality is important and I really appreciate that you are watching this and not only helping us to be aware of the dangers, but making sensible suggestions about how we should deal with this. It would be such a shame to waste this wonderful opportunity for financial freedom and honesty that was gifted to us by Satoshi. Thank you.

[@openmind5363]

Can't WAIT to see the Electric Bill?...hahaha

[@marcosct86]

run a node

[@davycrockett8886]

It doesn't help much, you have to mine and run at a loss.

[@bebetter7388]

there will never be a non centralized currency, grow up

[@FreddyFunderbunz]

Tldw

[@CryptoTips]

But you still took the time to comment, thanks!

[@godislove7927]

Bitcoin is a mystery and decentralized. It is created by one secret person who would never reveal himself.

[@jeansebastientlebreton]

Bitcoin is like giving a shinny key to open the gates of paradise to a man locked inside a prison. It's a shinny Trojan horse

[@dcshel]

I would like to know more about this new asic chip that Jack Dorsey's new company is building here in the US to make Bitcoin mining easier