PoX Screws Bitcoin, Adulterates Blockchain Software Technology

Uwe Cerron uwecerron at gmail.com
Sat Nov 27 11:19:53 PST 2021

Can you cite where they are illegal? i think mm and hft firms use dark pools in nyc. Not a lawyer here :). Are you?

Sent from my iPhone

> On Nov 27, 2021, at 1:17 PM, Gunnar Larson <g at xny.io> wrote:
> I think dark pools are illegal in New York? But you might need to ask Harvard Management Company how deep their STX fraud goes? 
>> On Sat, Nov 27, 2021, 2:06 PM Uwe Cerron <uwecerron at gmail.com> wrote:
>> Remind me again, how many mining pools make up the entire bitcoin ecosystem?
>> Sent from my iPhone
>> > On Nov 27, 2021, at 10:01 AM, Gunnar Larson <g at xny.io> wrote:
>> > 
>> > 
>> > MIA Coin and NYCCoin use PoX as part of their fraud. Harvard Management Company perhaps has a hand in the scheme? 
>> > 
>> > PoX when used for participation rewards, as described, could lead to miner consoli-
>> > dation. Because miners that also participate as holders could gain an advantage over
>> > miners who do not participate as holders, miners would be strongly incentivized to
>> > buy the new cryptocurrency and use it to crowd out other miners. In the extreme case,
>> > this consolidation could lead to centralization of mining, which would undermine the
>> > decentralization goals of the public blockchain. 
>> > 
>> > Bitcoin Bandwidth:
>> > Because PoX miners must send Bitcoin transactions to participate in the consensus
>> > algorithm and send PoX rewards, PoX mining would occupy some Bitcoin transac-
>> > tion bandwidth. Given Bitcoin bandwidth is limited by design, given security require-
>> > ments, new PoX blockchains need to reduce their bandwidth use requirements. SIP-
>> > 007 does this by limiting the number of participants, using a STX holding threshold.
>> > Other ways to address bandwidth limitations are also possible e.g., lighting channels
>> > between Bitcoin and the new blockchain. Optimizations at the Bitcoin transactions
>> > layer could also be possible, which would reduce the total size needed for PoX trans-
>> > actions.
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