121 sats \ 11 replies \ @021da48107 28 Nov 2023 \ on: Luke Dashjr launches Ocean to radically decentralize Bitcoin mining bitcoin
I have a difficult time taking Luke Dash Jr seriously after he got hacked and had his Bitcoin stolen. He obviously doesn't take security seriously or that would not have happened.
Also is it common to run ASICs at home? I looked into running an s9 or s19 at home to mine + heat the home but It didn't seem to make much sense economically. Maybe decentralizing Bitcoin mining isn't required to run ASICs at home but just have more mining companies?
There's something to be said for learning at the school of hard knocks. Luke might be more careful due to his experience compared to someone who has never felt that pain. But then again, you might be right.
reply
Oh, all my BTC got "stolen", so now I don't need to pay capital gain taxes even when there's a trace...
reply
Boat accident ;) ;) ;) we all have one.
reply
He is human and a peculiar one at that. Bitcoin is lucky to have him...
reply
Very good points, I agree. He could also be a great software developer and still be not good with security; I've worked with a ton of them.
reply
This has nothing to do with security though, even if he did lose those coins. This is a mining pool that he has made more decentralized than previous pools, and he created the first decentralized mining pool for GPUs back in the early days. He should be the most qualified for this task.
reply
Isn't it a concern if the infra behind this mining pool get hacked? I don't know enough about mining pools to confirm but it seems like a concern to me.
Others have said he didn't really loose the Bitcoin, if that is the case then kudos to him.
reply
OMG.. He wasn't hacked..
If you don't know your way around electricity don't mine at home, you will end up torching it.
reply
If you don't know your way around electricity don't mine at home, you will end up torching it.
What does "know your way around electricity" mean? I understand a basic amount. I could wire up a 240 circuit, I understand (vaguely) the relationship between amps, watts, and volts, am I qualified?
Furthermore having to know your way around electricity as being a prereq for running a miner at home kinda proves my point, yeah?
reply
You can run ASICS at home. 3kW per ASIC is a lot of power and can cook electrical cables. Dedicated circuit directly from main power panel with dedicated circuit breaker is the way to go. If you know how to torque and how to calculate the right cabling you should be fine.
If you plan to just plug the ASIC PSU in a home outlet. Then home mining is not for you.
reply
Worked for me, don’t know much about electricity, YouTube got me covered
reply