EB49 – Meni Rosenfeld: Mining Pool Reward Systems, Bitcoin Economics, Bitcoin in Israel

Summary: Support the show, consider donating: 3CaVLqGd8DE6ztuVuhLpf1bUxyTakopMbJ (http://bit.ly/1FUeNmg) Meni Rosenfeld is Founder of Bitcoil and Chairman of the Israeli Bitcoin Association. Having organized several meetups and conferences in Israel, he is a very active member of the Israeli Bitcoin community. Meni has been studying mining pool reward methods for several years and in 2011, wrote a paper titled “Analysis of Bitcoin Pooled Mining Reward Systems”. This research gave him a broad understanding the reward system landscape and the issues with many of the methods used by pools. He later wrote proposals for alternative non pay-per-share methods and which would render pool hopping impossible: the geometric method and double geometric method. Links mentioned in this episode: - Mining Pools Reward Methods Talk - Bitcoin 2013 Conference [YouTube]: http://bit.ly/1whIxT2 - Analysis of Bitcoin Pooled Mining Reward Systems [paper]: http://bit.ly/1zyyQ7v - Summary of mining pool reward systems [paper]: http://bit.ly/1xutjto - Analysis of hashrate-based double-spending [paper]: http://bit.ly/1wAry12 - Meni Rosenfeld's vanity thread [Bitcoin Talk Forum]: http://bit.ly/1v2QzMC - Geometric method [Bitcoin Talk Forum]: New cheat-proof mining pool scoring method: http://bit.ly/1zdoNnv - Double geometric method [Bitcoin Talk Forum]: Hopping-proof, low-variance reward system: http://bit.ly/1DS4knV - Mine in multiple pools to reduce variance [Bitcoin Talk Forum]: http://bit.ly/1wBAv6R - Multi-PPS [Bitcoin Talk Forum]: http://bit.ly/12OytYe - ASIC will not centralize Bitcoin mining [Meni’s blog]: http://bit.ly/1tYfial - Blocksize Economics by Gavin Andresen [Bitcoin Foundation]: http://bit.ly/10uKcdq - Proof of Activity: Extending Bitcoin’s Proof of Work via Proof of Stake [paper]: http://bit.ly/1v2QN6t - Israel Bitcoin Meetup Group: http://bit.ly/10uKaCz - Israeli Bitcoin Community Facebook Page: http://on.fb.me/1wuunyb Sponsors: - Fairlay: http://fairlay.com/epicenter Bitcoin difficulty > 75B by the end of the year: http://bit.ly/1w85tW3 Show notes: http://epicenterbitcoin.com/podcast/049 YouTube: http://youtu.be/lCxfEk-MrGw Epicenter Bitcoin is hosted by Brian Fabian Crain & Sébastien Couture. - Visit our website: http://epicenterbitcoin.com - Subscribe to our newsletter: http://epicenterbitcoin.com/newsletter - Twitter: http://twitter.com/epicenterbtc