Decentralization
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Miner will need to pay the base_fee for their payouts - Do you think it would attract more small miners, thus decentralize the network, by saying “You now need to have 0.1x ETH to get your 0.1 eth payout” ?
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Mining will not be borderless. Miners will need to have $x to cover the base fee at least. Mining is the only way to introduce new users into the ethereum ecosystem without KYC. Let’s not forget all the countries where KYC’ing is not as easy as in priviledged parts of the world like the US/EU.
Security
- The current hashrate is pretty much distributed. Around ~50% of the hashrate is currently non-asian.
The EU/US hashrate has been growing faster than the Asian hashrate by a factor of 2 on Ethermine, which provides the largest non-asian hashrate. [Compare here yourself]. Due to cheaper electricity prices in Asia, we can assume that with 1559, mining will centralize towards china.
9.1. An emergency merge to Ethereum 2.0 does not come without compromises and will come with worse UX - exactly what 1559 is trying to solve.
@MicahZoltu states in his post that an emergency merge to Ethereum 2.0 if miners are malicious is a valid plan, but in reality it is not and wishful thinking at best.
If such plan would be valid, then there is no reason to wait and we should merge ASAP.
