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>> Q = Total pool size (fraction of all mining power) q = My mining >> power (do.) e = fraction of block fee that pool reserves >> > > Unfortunately the math doesn't work that way. For any Q, a bigger > Q gives you a higher return. Remember that the way I setup those > equations in section 3.2 is such that I'm actually modeling two > pools, one with Q hashing power and one with (1-Q) hashing power. > Or maybe more accurately, it's irrelevant if the (1-Q) hashing > power is or isn't a unified pool. My Q and q are meant differently, I agree to your Q vs Q-1 argument, but the q is "me as a miner" participating in "a pool" Q. If I participate in a pool I pay the pool owner a fraction, e, but at the same time I become part of an economy of scale (well actually a math of scale...) and that can end up paying for the lost e. The question is what is the ratio q/Q where I should rather mine on my own ? This question is interesting as it will make bigger miners break away from pools into solo mining, but I also agree that from pure math the most advantageous scenario is the 100% mining rig. > The equations give an incentive to centralize all the way up to 1 > miner with 100% hashing power. > > Of course, if that one pool were p2pool, that might be ok! Ha, yes, and then the math for p2pool starts... a math where we have much more stales... -----BEGIN PGP SIGNATURE----- Version: GnuPG/MacGPG2 v2.0.22 (Darwin) Comment: GPGTools - http://gpgtools.org Comment: Using GnuPG with Thunderbird - http://www.enigmail.net/ iQEcBAEBAgAGBQJShgxWAAoJEKpww0VFxdGRoiwH/3RGTH503PJ8UWuyKjrxscb4 dG3TyThZCDs12DvtC+2TPKnIkQFinGx9442tZU/O+qmwsGJsNVoEcnGmKEYz/vlI XzFF30ugslB4FKwHZYRqXELaKR4RvUtSzu6td8P3n+e6d0MZsuemMornpbXZkw3n CbMlYuiG4h3iUAwTaOTS26cFbZoo6eyogydDjnS7Ogi2Ur85Rydi/Lj24rj7UxYB +WUkYAv3bCqCzTkv1LxO7HwY1SICZDmoGRbuil5M7bJ+MftYt6Q6DVprGSVP0mOV 9eEVeMVY/WmMZCI/01ruXpzC3gxU60vOd/a3q9G2hd9Tn00HzugAllEXh7ZzzUs= =unP8 -----END PGP SIGNATURE----- ------------------------------------------------------------------------------ DreamFactory - Open Source REST & JSON Services for HTML5 & Native Apps OAuth, Users, Roles, SQL, NoSQL, BLOB Storage and External API Access Free app hosting. Or install the open source package on any LAMP server. Sign up and see examples for AngularJS, jQuery, Sencha Touch and Native! http://pubads.g.doubleclick.net/gampad/clk?id=63469471&iu=/4140/ostg.clktrk _______________________________________________ Bitcoin-development mailing list Bitcoin-development@lists.sourceforge.net https://lists.sourceforge.net/lists/listinfo/bitcoin-development
