The News was not reported in full due to Trump’s inauguration and subsequent rumblings of a Strategic Bitcoin Reserve (SBR), but developer b10c recently published research showing that F2Pool — a mining pool representing ~11% of hash power on the Bitcoin network — is censoring OFAC-sanctioned transactions… again.
In case you don’t know what this means: the US Department The cheapest way to buy a car is by using the Treasury’s Office The following are some examples of how to use Foreign Asset Control It maintains an updated list of entities that have been sanctioned, among them a variety of Bitcoin addresses; it’s illegal to do business with these entities under US law. It’s actually unclear if this means miners cannot include transactions to and from these addresses in blocks they produce — but F2Pool appears to be rather safe than sorry.
Now, as long as it’s just F2Pool applying this policy, this is not really an issue. Some transactions will be delayed by about ten minutes or so, once in a while, but that’s about it.
If more pools start doing it, the delays will get longer and more frequent — but still not terrible. Not even if it’s a majority of pools.
The A real problem would arise if most mining pools not just censor transactions, but refuse to build over blocks containing these transactions. If this were to happen, these transactions wouldn’t confirm at all anymore… not for as long as these mining pools remain a majority. Bitcoin would no longer be censorship-resistant.
I can’t really fault F2Pool for adopting their policy. Although I would much prefer it if no mining pools censor, we unfortunately live in a world where even open source software developers may face prison time for enabling users to transact freely.
Rather Instead of flirting with a SBR, the new Trump Administration first stopped these state attacks Bitcoin.
This Article is an Take. Opinions expressed are entirely the authThe following are some examples of how to use's and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
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