6 sats \ 6 replies \ @DarthCoin 19 May 2023 \ on: Is bitcoin based on human greed? bitcoin
I don't mine for today's profit.
I mine to secure my money of tomorrow.
I earn sats doing work by myself, not by mining.
But can you mine enough on your own to secure your own money?
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You can if you have a certain mining power (I don't have that power rn).
Just imagine with all these crazy fees rn in the memepool.
What if you could have enough mining power to mine by your own (let's consider your cost of electricity is zero) and you could include only the txs you want.
Yes, is a gamble, you will never know when/if your miners will find that block hash that you can construct it with your selected txs.
But also you could have the luck.
Mining is a lottery in the end. But also this lottery is securing the network.
So no matter what, you are still securing your future money.
Even with a single mining machine, you are still participating.
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What if you could have enough mining power to mine by your own (let's consider your cost of electricity is zero) and you could include only the txs you want.
Then bitcoin would be worthless and I would have shot myself in the foot
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nope. think again.
Just few weeks ago Foundry pool mined almost an empty block by themselves, containing only one tx with a shity ordinal.
They did it because they can.
And they didn't die, or Bitcoin died.
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Ah, yes, you meant only a single block. Not me having 100% hash rate (or just >50%) and then only mining txs I like, lol
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Yes. In few years we will see "scrap" miners. Those small miners that do not have so much hashing power, but will grab all the txs with low fee for example and put them into their own mempool and try to mine those, just to grab some fees that the big phat miners are dropping them.
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