One of the (valid) criticisms against bch is the low relative hashrate compared to btc (currently less than 2% of the sha256 hashrate), which is translated by many as a systemic risk. Not to mention the proven negatives of ASIC mining.
I wonder what is the general stance of the BitcoinCash dev community on changing the hashing algorithm of BCH?
There have been no relevant reorg attacks in BCH.
Bitcoin miners made hashwar to protect BCH with more HP than the market assigns.
ASIC mining incentivizes to react defensively. What are the “proven negatives”?
Changing the algorithm for losing the competition is dishonorable and does not solve the root of the problem (development without divisions).
There are miners among the major promoters of BCH today.
This would be betraying the miners, as well as causing another split.
Normally, the best strategy is to prevent disasters, not react after they happen.
Changing the algorithm for losing the competition is dishonorable and does not solve the root of the problem (development without divisions).
How is it dishonorable? With sha256, no matter how good BCH is, people look at the hashrate and GTFO as quickly as possible. (this is why lesser shitcoins have been eclipsing BCH in the past years)
does not solve the root of the problem (development without divisions).
Development unity is a completely different topic/problem.
This would be betraying the miners, as well as causing another split.
SHA256 miners literally betrayed Bitcoin first in 2015, on the HK roundtable meeting between blockstream and the 5 chinese dudes who represented majority of the sha256 hashrate. They conspired to enforce the limited capacity on the BTC chain.
After the BCH-BTC split they rapid mined and swing mined BCH to disrupt it even more.
Also, I doubt that many people would support the lesser sha256 bch fork, so if there is a split, it would be insignificant (like the monero vs monero classic fork)
Hashpower has two operational modes. Automatic hashpower follows the market price.
But sometimes they ignore it.
What are you talking about?
This site is dedicated to BitcoinCash development discussions and was endorsed by bch devs too.
Is there moderation on the site?
Well, it seems that this topic got off its rails, which is a shame because it could have been an interesting discussion where different people could have added value.
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I really wish we could calm things down and resume what could be an interesting discussion.
Thanks.