Aaron Foster

[Aaron Foster @_aaron_foster]

More content like this please. Awesome job @cbspears @wsfoxley @AsILayHodling

https://t.co/7XXjSm03Am

[Aaron Foster @_aaron_foster]

Quick Professional Update

https://t.co/WCl1OjBC3D

[Aaron Foster @_aaron_foster]

Fair, but for clarity, just trying to add perspective/context, but can understand how it comes across as argumentative. I do have bias and my perspective comes from the miners/hashers/hashrate rather than from a protocol/network view.

It’s possible I have some cognitive dissonance around the benefits of SV2 and why every miner should be creating their own block templates - maybe we can take a step back?
Genuinely asking for my own benefit, why should every miner embrace SV2 and Block Template creation instead of continuing to use SV1 and allow pools to perform this activity for them?

From your perspective why hasn’t more hashrate embraced/advocated for this protocol upgrade?

Do you think there is a world in which both protocols and ‘types’ of miners exist or must it be a winner take all thing?

[Aaron Foster @_aaron_foster]

Will agree to disagree Rob 🙏. The censorship risk is also dogma and fear mongering imo. Miners will proxy their vote through their hashrate. Any sort of censorship by a pool operator, could be unpopular and impact a pool operators revenue as a business. Miners are free to choose which pool operator to point hashrate to whomever they trust - as of today miners overwhelmingly trust FPPS.

Merged Mining - if miners are not getting those rewards switch to a pool that offers those MM rewards?

OoB Transactions - tough one because while possible, it’s only relevant during high fee markets. This goes deeper into what will happen to and be developed around transaction fee markets as a whole. OoB transactions don’t make any meaningful % to my knowledge (could be wrong). FPPS further makes this non material through the formula <- definitely worth a more in depth discussion with folks smarter than me.

Don’t get me wrong It’s great that SV2 is out there and Block Template creation for miners exist as an option (more options the better), but having choice and therefore competition for miners rather than a single imperfect solution miners must adhere to is misguided.

Lots of nuance in this! Would love to learn more and understand your point of view better next time I’m at BP 💪

FWIW, I’m happy to be wrong and likely will be on some of this. But just adding some counter points for folks to consider

[Aaron Foster @_aaron_foster]

Pools have less incentive to act nefariously than miners. While Fractal Bitcoin wasn’t an attack, it was a demonstration that miners are capitalistic and will always act in their own interest and are inherently flexible to do so. Part of the reason why large miners aren’t pushing pool operator’s for SV2 or Block template creation, they simply don’t see any value - they are fine paying 0.15% to 1.00% to insure (hedge) predictable and auditable revenue.

The Pool Hashrate centralization debate is nothing more than marketing dogma that continues to get recycled.

[Aaron Foster @_aaron_foster]

Mining Pools are voting/trust proxies for hashrate producers of all sizes.

Majority of Miners are capitalistic in nature - should any Mining Pool/Block creator act nefarious to the detriment of a Miners Revenue they will switch (vote) for another Pool - but it would be absolutely suicidal for any mining pool act in a way that doesn’t benefit its users.

There are more pools operating today than 4 years ago, with technical barriers to entry becoming less and less each year offering various benefits and levels of trust to reconcile a miners hashrate.

The Mining Pool centralization argument is tiresome imo. SV2 does offer some basic stratum protocol improvements but I can assure you very few miners have asked me when they can start creating their own Block Templates - at present they simply do not care and want to earn as much BTC revenue as possible.

[Aaron Foster @_aaron_foster]

@hash_bender Sorry, was desperately trying to query why SV2 and Knots make sense.

[Aaron Foster @_aaron_foster]

@HodlersOfficial @CdnBitcoinConf @Shot_By_Vucci Hope the Ref plays next year. 😅

[Aaron Foster @_aaron_foster]

@blockspace Isn’t some of this debt on the balance sheet of Bitcoin Miners earmarked for the pivot to Data Centre development?

[Aaron Foster @_aaron_foster]

@MidwestHODL @TFTC21 @LukeGromen Agreed 😅

[Aaron Foster @_aaron_foster]

Had a blast attending the Hodlers Cup last week in Montreal as part of the @CdnBitcoinConf

Despite being injured was able to stand behind the bench to support team Canada. Sadly Team Canada lost 9-0 and is now 0-2 in the series. Next Year comrades!

Credit to @Shot_By_Vucci for the photos and Corey at @HodlersOfficial and team for organizing!

[Aaron Foster @_aaron_foster]

@AndrewBurchwell GM 🙏

[Aaron Foster @_aaron_foster]

@jamesmcavity @intangiblecoins Nihao as the kids say these days.

[Aaron Foster @_aaron_foster]

@Mario_Guti713 At what point does one switch form months to years? 2?

[Aaron Foster @_aaron_foster]

@RG_Leachman But what about the ticks Ryan?

[Aaron Foster @_aaron_foster]

@danbrownbuilds Nothing beats the aesthetic of the Sky Dome Daniel.

[Aaron Foster @_aaron_foster]

@joe_tulane Judging by the thickness of the coozie, that will keep a drink colder longer than a Canadian (or Buffalo) winter.

[Luxor Technology 🟧⛏️ @luxor]

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[Aaron Foster @_aaron_foster]

@BTCFredericton @CdnBitcoinConf Winner gets Alaska!

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