Matt on Nostr: I've long thought that a change of algo would benefit bitcoin. Mining should never ...

I've long thought that a change of algo would benefit bitcoin. Mining should never have become the centralised shitshow that it has.

However, other methods are available to undermine the control of the mining corps. So, I'm not taking a strong side one way or the other in this argument.

What I don't think can be disputed is that mining is currently fucked and now, slowly, insidiously, so is core.

Things have to change, as this is not what I dedicated years of my life fighting to build. I'm pretty sure a few of my old mates in the space may feel similarly.

quoting
nevent1q…vl04

⚡️⛏️ NEW - Luke Dashjr (npub1lh2…a9nk) SUGGESTS SEPT. 1 FOR BIP-110 PROOF-OF-WORK CHANGE BTC HARD FORK

Bitcoin developer Luke Dashjr suggested Sept. 1 as a potential target date for a BIP-110 proof-of-work change, saying it should occur when BIP-110 “would have activated.”

BIP-110 author Dathon Ohm says the community is now working on a proposal to change Bitcoin’s proof-of-work algorithm and “fire the miners,” accusing large mining pools of colluding against the BIP-110 movement.

Asked how the network would remain secure after firing existing miners, Ohm responded:

“We will hire new miners.”