Merged mining is a technique that allows miners to mine bitcoin and another compatible altcoin at the same time using the same computational resources.
Yes59.1%
Yes, but it's a necessary evil13.6%
No. Don't be a toxic maxi, siggy27.3%
22 votes \ poll ended
I’d call it pragmatism more than endorsement.
If the same hashwork can secure another chain with negligible overhead and without compromising Bitcoin consensus, miners will naturally take the extra revenue.
For me, it becomes a problem only when that extra income adds centralization or operational risk to Bitcoin.
I don’t know !
Last time I looked at the namecoin implementation of MM (years ago) the overhead of "standard" MM in bytes is something like
44of 'em, in the coinbase scriptsig? It's just "free" extra income for your miners as long as (a) pool is honest and (b) these 44 bytes are worth more than 44 bytes of jpegs?Edit: to clarify, yes, it is shitcoinery. But so is mining BRC-20s, jpegs, counterparty, omni... you name it, it's shitcoinery.
I think there may need to be an option for undecided/I don't think about it at all.
The merge mining people seem misguided to me, but I don't there's any point to trying to stop people from doing it.
What is "misguided" about maximizing profit per hash?
Sure profits will be maximized. "Shitcoinery" is shorthand. One big problem, as I see it, is that the big miners can easily corner the market and suck up all the liquidity on one of these coins. Degen defi dimwits will get crushed in what will be easy miner rugpull schemes. You can say so what? That's the free market, but that will just further centralize mining power with the big players.
Pleb miners won't shitcoin.
Can you exchange the shitcoin for bitcoin?
Well, in the case of rootstock it is traded on defi exchanges. Over 20 shitcoin chains are available, including ETH. You won't get what I consider real bitcoin
Can you exchange any of those for bitcoin?
Real bitcoin only runs on the bitcoin chain, of course. I bet most of these have fake bitcoin that run on their own shitchains. I think rootstock might have a way to swap between chains. There are probably centralized exchanges where you can exchange the shitcoin for bitcoin, but I don't know which exchanges trade which coins.
Well, however roundabout the process is, miners should probably try to get as much bitcoin as they can per hash.
That all happens after the block is mined. Using that criteria, miners aren't for the most part keeping bitcoin. They want US dollars in the end.
Transaction fees are earned immediately, then they own the shitcoins
Ideologies are still annoying.
I’d vote for "It's none of my business (literally)."
Yes, it's a necessary evil.
It's a technique, used by shitcoins, use to approximate to Bitcoin's security because such a thing does not inherit Bitcoin's security... so definitively yes.
every time and energy that you spend validating or working for shitcoin makes you a shitcoiner, so yes.
No, stop being a toxic maxi, siggy
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