In this episode of Coin Stories, host Nat interviews Bitcoin Mechanic, the head of communications at Ocean, to discuss the decentralization of Bitcoin mining. Bitcoin Mechanic shares his origin story in Bitcoin, starting in 2011, and explains the importance of decentralizing Bitcoin mining to prevent censorship and maintain its permissionless nature. They discuss the centralization issues within mining pools, the role of individual miners, and the potential risks of government regulation and corporate influence. Bitcoin Mechanic advocates for miners to prioritize decentralization over guaranteed payouts, highlighting Ocean's approach to transparent and verifiable rewards. He expresses concerns about the increasing centralization and potential co-option of Bitcoin by state entities but emphasizes the importance of maintaining a neutral and permissionless network.
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