Ocean Mining Hashrate \ stacker news ~polls

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564 sats \ 22 comments \ @needcreations_ 19 Dec 2023 polls

Will Ocean Mining reach an exahash (1000 Ph/s) before the halving in April 2024? The pool's current hashrate after being live for a few weeks is 427 Ph/s.

https://m.stacker.news/8826

https://m.stacker.news/8827

Yes, Ocean will hit 1000 Ph/s by halving43.2%

No, Ocean won't hit 1000 Ph/s by halving56.8%

44 votes \ poll ended

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713 sats \ 8 replies \ @petertodd 20 Dec 2023

Ocean is kneecapping themselves by consistently rejecting fee paying transactions. Fact is, on top of the cost of variance because they're so small, you'll earn less money mining with them because they aren't collecting all the fees that they could. I won't be surprised if they fail entirely before the halving and effectively cease to exist. Due to variance, in mining failure tends to compound on itself.

Luke-Jr is truly foolish for throwing away an opportunity to actually build more decentralize mining pool, just to make a stupid, useless, political statement about inscriptions.

21 sats \ 3 replies \ @bzzzt 20 Dec 2023

This is a pretty good take. Prettu disappointing and the risk of failure is real. I planned to mine with them but dont thimk i will anymore. My new plan is to just get a modest amount of hashpower i can throw at a solo pool once halving happens or if i get a decent chunk of change might get one of thosr futirebit II 's and solo mine directly with it. Until then ill use a pplns pool to get as much out of this epoch as i can.

10 sats \ 2 replies \ @WeAreAllSatoshi 20 Dec 2023

Which PPLNS pool are you using?

0 sats \ 1 reply \ @bzzzt 20 Dec 2023

The only one i know thats left and has reasonable hashpower and isnt ant pool...sbi crypto

0 sats \ 0 replies \ @WeAreAllSatoshi 20 Dec 2023

Noted, thank you for following up!

0 sats \ 2 replies \ @OT 20 Dec 2023

How much is the difference in not accepting these TX? I'd laugh if it were about 100 sats

161 sats \ 0 replies \ @needcreations_ OP 20 Dec 2023

right now it's a considerable difference. @mononautical has been posting a lot of mempool analysis and Ocean's block template for one block in particular left out approx 13% of the fees IIRC

80 sats \ 0 replies \ @bzzzt 20 Dec 2023

My anecdotal comparing b/t their template and the next block that was mined was significant difference. Millions of sats, certainly not 100.

0 sats \ 0 replies \ @jk_14 20 Dec 2023 freebie

Luke-Jr is truly foolish for throwing away an opportunity to actually build more decentralize mining pool, just to make a stupid, useless, political statement about inscriptions.

This.

Ceterum Censeo: 21M is a stupid meme... ;)

155 sats \ 1 reply \ @shibe 20 Dec 2023 freebie

What was promised: The first decentralized StratumV2 mining pool

What was delivered: Luke-jr's homemade blocks with censorship

0 sats \ 0 replies \ @needcreations_ OP 20 Dec 2023

changing the rules to your node isn't censorship!!

194 sats \ 1 reply \ @aeonBTC 20 Dec 2023

Never in a million years. They filter privacy and mixing txs. Luke is a lability and his crusades are literally futile. Their entire business model is one big Larp.

10 sats \ 0 replies \ @kristapsk 20 Dec 2023

That's FUD! They don't filter privacy and mixing txs. Just some implementations of privacy and mixing txs are ineffective and stupid.

100 sats \ 0 replies \ @030a29f333 20 Dec 2023

Bitcoin incentives are built around acting economically rational. Ocean is not doing so, so they will fail. There is time to correct course, but I don't see that happening with Luke at the helm.

10 sats \ 3 replies \ @premitive1 20 Dec 2023

that 6 milly jack pumped into their bags should have a technical effect eventually. even if they just a bunch of miners, right?

0 sats \ 0 replies \ @premitive1 20 Dec 2023

i meant even if they just buy a bunch of miners*

0 sats \ 0 replies \ @BitcoinIsTheFuture 20 Dec 2023

Yup they’ll make it happen one way or another! Great tail winds!

0 sats \ 0 replies \ @needcreations_ OP 20 Dec 2023

yeah I'd think so.

10 sats \ 0 replies \ @02bcd3eeb0 20 Dec 2023

Great interview by Preston covering Ocean's philosophy in depth:

https://www.theinvestorspodcast.com/bitcoin-fundamentals/decentralizing-bitcoin-mining-pools-bitcoin-mechanic/