I may dissent, and a few more links for the studious among us:
It’s unfair to equate the ProgPoW team with miners. The ProgPoW team doesn’t represent the interests of honest miners at all, and voting was heavily rigged and manipulated in favor of ProgPoW.
One random example, a voice of the suppressed:
"Let’s take Ethermine for e.g. What’s they did?
They just took all availabale hashrate, without any notifications
for miners, and started voting YES. They promised provide dedicated
port for say NO, but didn’t provide it.
In this situation, miners were just hostages of pools.
If you want fair voting — at first prepare two different
dedicated ports for YES and NO, and then start voting.
Using default pool config for “YES” — it’s just fraud!"
James Prestwich got it
In PoW, lowest cost wins.
“Permissionless” access to hardware doesn’t help if you can buy GPUs at retail price in a lot of shops around the world, for a guaranteed loss.
Or you can be the one special partner of the chipmaker who helped the chipmaker exclude other chipmakers, and get the same GPUs at half the price or less in return.
The last audit proposal I’m aware of is still this one
Curious if that has changed.
What we’ve learned from the RandomX audits so far is that the first thing you want to see from an auditor is a one-page or more explanation of the difference between a PoW algorithm and a cryptographic hash algorithm, as seen by the audit team.
If the audit team doesn’t see any difference, or is just guessing a bit and largely thinks they are reviewing a cryptographic hash algorithm, that will lead to a disappointing result.
This is not enough.
EIP 1057 makes some key claims that are demonstrably false, and yet were used to rally support behind the EIP, for example
“These would result in minimal, roughly 1.1-1.2x, efficiency gains.
This is much less than the 2x for Ethash”
That’s only the tip of the iceberg of this fraudulent EIP, but one would hope that an audit can keep more damage away from Ethereum.
The fact that the EIP 1057 author is a close business associate of Calvin Ayre and the nChain camp is public knowledge today, and seems to be accepted for now.
How do these guys make money?
Step 1: Sell ETH short on bitmex and other exchanges
Step 2: Put out press release saying Craig Wright co-authored and patented ProgPoW
Step 3: profit
I was seriously surprised (and learning!) that someone could turn around the positive idea of not wanting to sell PoW hardware to ponzi schemes, scammers or money launderers into a “blacklisting” argument, and use that to instill more ASIC fear! Amazing.
Here’s what happens if a PoW hardware maker acts irresponsibly:
A rogue megafarm is selling hashrate to unsuspecting retail customers at excessive setup and maintenance rates, and thus ‘inherits’ the capex for free after a few months when the difficulty goes up and the inability of their customers (victims) to calculate becomes apparent.
They then proceed to destroy or otherwise manipulate/dominate that coin since their focus is on short-term profits.
A hashrate owner that obtained hashrate for free, through whatever means, is a threat to the coin.
Responsible chipmakers don’t sell to these kinds of farms, because they act against the long-term interests of the coin that is being secured.
Nvidia focuses on the short-term, since everybody knows that GPUs stand no chance in a PoW algo in the long run.