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Episode 37: MaraPool and Mining Censorship

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Manage episode 291965898 series 2860967
Content provided by Van Wirdum Sjorsnado. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Van Wirdum Sjorsnado or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

In this episode of The Van Wirdum Sjorsnado, hosts Aaron van Wirdum and Sjors Provoost discuss the emergence of Mara Pool, the American Bitcoin mining pool operated by Marathon Digital Holdings, which claims to be fully compliance with US regulations. More generally, Aaron and Sjors discuss the prospects of mining censorship, what that would mean for Bitcoin, and what can be done about it.

Mara Pool claims to be fully compliant with US regulations, which means it applies anti-money laundering (AML) checks and ad hers to the sanction list of the Office of Foreign Asset Control (OFAC). While details have not been made explicit, this presumably means that this pool will not include transactions in their blocks if these transactions send coin to or from Bitcoin addresses that have been included on an OFAC blacklist.

Aaron and Sjors discuss what it means that a mining pool is now censoring certain transactions, and they go on to expand what it could look like if this practice gets adopted more widely. They consider what censoring mining pools could accomplish if they ever get close to controlling a majority of hash power, and what Bitcoin users could potentially do in such a scenario (if anything).

  continue reading

98 episodes

Artwork
iconShare
 
Manage episode 291965898 series 2860967
Content provided by Van Wirdum Sjorsnado. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Van Wirdum Sjorsnado or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.

In this episode of The Van Wirdum Sjorsnado, hosts Aaron van Wirdum and Sjors Provoost discuss the emergence of Mara Pool, the American Bitcoin mining pool operated by Marathon Digital Holdings, which claims to be fully compliance with US regulations. More generally, Aaron and Sjors discuss the prospects of mining censorship, what that would mean for Bitcoin, and what can be done about it.

Mara Pool claims to be fully compliant with US regulations, which means it applies anti-money laundering (AML) checks and ad hers to the sanction list of the Office of Foreign Asset Control (OFAC). While details have not been made explicit, this presumably means that this pool will not include transactions in their blocks if these transactions send coin to or from Bitcoin addresses that have been included on an OFAC blacklist.

Aaron and Sjors discuss what it means that a mining pool is now censoring certain transactions, and they go on to expand what it could look like if this practice gets adopted more widely. They consider what censoring mining pools could accomplish if they ever get close to controlling a majority of hash power, and what Bitcoin users could potentially do in such a scenario (if anything).

  continue reading

98 episodes

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