Transaction

j"1LAnZuoQdcKCkpDBKQMCgziGMoPC4VQUckM<div class="post"><div class="quoteheader"><a href="https://bitcointalk.org/index.php?topic=1332.msg14864#msg14864">Quote from: theymos on October 01, 2010, 04:22:59 PM</a></div><div class="quote">Pools won't eliminate the "problem" because pools are not more profitable than normal generation; they just pay out more often. They can't beat companies that have invested in specialized hardware. They also delegate all of the important network decisions to the pool maintainer, so there's no security benefit.<br/></div><br/>Pools offer the advantage that nodes can co-ordinate their hashing so that they aren't generating the same hashes as each other. It's not about "total hash/s", it's about "total unique hash/s". If everyone in the pool is assigned a subset of all hashes to work on (sizes based on each nodes average hash/s), then we'll guarantee that no hashes will be repeated. The node that generates the coin can just keep the full amount. The group will be better off together than alone. The bigger the pool, the better. In fact if these pools get much bigger than the companies (in terms of hash/s), then THEY will be severely marginalized and be forced to join the main pool or get nothing.<br/><br/>If the pool gets too big, then coins may be generated almost instantly at some point. This could be bad for the stability of the currency. Can anyone do the math on how many parallel coperating cpus it would take to find a coin in say, one minute?<br/><br/>I think this is a very important issue for the success of Bitcoin.</div> text/html