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113 sats \ 0 replies \ @evanbaer 19 Sep \ on: A brief history of the satoshi bitcoin
Great write up. Thank you.
working on a penny auction twist for the Upendo solo mining block party
You can still buy kyc-free hashrate on Rigly and Mining Rig Rentals.
Bitcoin does not necessarily require fee pressure to scale as the block subsidy winds down.
Instead, there may need to be a new buyer of hashrate.
Today, you can think of individual bitcoin transactions as the default hashrate buyer and where the TX fees are a proxy for hashrate purchases. This is today's default hashrate buyer.
Other buyers exist.
These buyers buy at the spot premium (often 10%+ over FPPS hashprice) and offer a preview of how the network could be supported as the block subsidy goes down.
Maybe mining-as-lottery paying a spot premium hashprice will come to support the network, much like state lotteries help fund education.
We will see.
Next mining party on 5/17
Last block party we had ~400 PH/s at the peak, will see if we beat it next time
3 ways to mine in the party:
- Point your bitaxe to our pool address
- Direct buy (as little as 16 sats)
- Bid at auction (bigger slice of reward)
Best game in town!
We had a 33 trillion difficulty share several weeks back... but no block yet
The network difficulty has raised the bar quite high, but we'll get there
Hmm it could be a measurement fluke
Measuring global hashrate is an estimate based on block speed, let's see if it holds for multiple days
Also I don't see this reflected on the global hashrate graph @ hashrateindex.com
10 sats \ 1 reply \ @evanbaer 14 Mar \ parent \ on: What is your experience with Rigly? bitcoin_Mining
Here for you @marco
I hear you. The auctions for hashrate now / in the near future get a modest discount -- or the kyc-free sat premium