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Marathon Digital Holdings stops the bitcoin censorships, throws away the idea to create 'compliant bitcoin'

There are industries where 1% tried to be 'compliant' but failed

01.Jun.21 12:06 PM
By Abigail Richards
Photo Pinterest


Marathon Digital Holdings stops the bitcoin censorships, throws away the idea to create 'compliant bitcoin'
The Bitcoin mining pool of Marathon is going to change everything. They stop censoring payments and start Taproot-upgrade signals. This is a big surprise, as they recently proudly created the first 'compliant' block.

Yesterday, Marathon Digital Holdings, one of the largest Bitcoin miners in North America, announced that they have implemented Bitcoin Core 0.21.1. The company is listed on the Nasdaq and they control about 1% of the computing power with MaraPool.

They were one of the last public mining pools to support client software (and thus Taproot). This is an update to the Bitcoin Core protocol that hides all transactions in a jacket of digital signatures (Schnorr Signatures) in combination with a MAST structure. These technical highlights ensure that payments get more privacy and are also programmable in more ways.

Yesterday you could already read that the new signaling period has started and that it looks very good, especially now that MaraPool is going to join. Most likely the upgrade will be activated.

CEO Fred Thiel explains more about this step in a video. He's only 30 days worked for the company and it is next to the norms and values that Bitcoin has to offer: freedom and self-determination in a decentralized monetary system. He immediately makes a change: they will process all transactions just like the other miners.

So they're going to stop censoring payments and they're going to do the whole migration over the next week. The announcement is in stark contrast to the actions of Marathon in recent months.

In late March, the company announced that they were filtering transactions to mine only blocks that comply with U.S. regulations, including anti-money laundering rules (AML) and Office of Foreign Assets Control (OFAC). Earlier this month, they successfully created the first" compliant " block to the blockchain.

Recently, the mining pool had a hard time and received a lot of criticism. Now that they (with a new CEO) come back on this decision, they also get a lot of compliments.

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