What's Ocean mining and whats with the excitement? Explain it to me like I'm a 5 year old.
#asknostr
Discussion
My question exactly. I wonβt hijack your thread lol, but following!
Ocean.xyz
Ocean is the name of a new mining pool that is currently siphoning miners from other larger pools
How is it different from other pools? Other than 2 months without fees.
Now you can see which transactions are censored by the pool while you are mining a block, as opposed to waiting until a new block is broadcasted to find out which transactions were censored.
How does seeing this change the process or make it more decentralized?
My point exactly
Okay I didn't know genuinely, but couldn't figure out what was special about it. Mining won't ever be broadly decentralizied because it's expensive. Either you're big baller or your a super enthusiast, most of the world isn't these things.
Perhaps Stratum V2 can improve the situation, but I don't have enough information to draw a conclusion.
I did see that so maybe next year there will be more participation opportunities.
Where does nostr:npub1hte85nxymfyez0nlmmxf287nh9cujfuetxhk9vptwcdqg0pn8pxqxasw3d fit between these two?
I think he's between both miners if I'm not mistaken.
Between two miners? π
π΄. β¦β¦β¦ π΄
Or maybe ....two ASICS! muahaha
Hereβs my ELI5 in this note I posted. Itβs more than just the censorship. Itβs basically a pool built for small miners. When I say small miners, I mean anything from a single space heater S9 to like a shed of 40 S19j Pros. Itβs gonna draw plebs out of the big pools. With this pool, thereβs also no wasted work, every share is counted. nostr:note1kuyjqeg9z8fnsv54nys45y8mqmcqner2juj6ywpjezeneafmyt7qknv8pa
nostr:note1qeglzwp44enazzsq7avufute8wj35xtccq25gwl0r0vlnrck7cfsj529gx
In the future it seems.
nostr:note108l6temg7kd77rv78677fsv05d7dhmt9gjmr0r2tu70m0ltm8e2qgymckl
Yeah I read their docs. Promising ideas, slightly better set up, improvements coming next year. I think they oversold it so everyone was expecting something different. Good pool. I haven't been able to afford to mine Bitcoin since 2010 lol.
Here for the info too. Does it take a rake? Is it fully decentralized (protocol, mechanics, etc)?
Why do people join mining pools?
- solo mining you will never win a single block in 1000 years. Only reason.
Why do mining pools suck.
-centralized mining leads to regulatory capture
-you get way less % of the block reward than your % hash towards the block and can't even verify that.
-mining pool operators can act unilaterally on your behalf.
*decide if you signal for software changes like segwit.
*can fill the blocks with jpegs receive compensation through back channels and forgo your fees.
*return accidentally submitted fees.
*tell you they returned accidentally submitted fees and keep them for themselves
*more shady shit.
OCEAN
-you are a miner again not rented hash power.
-you make all your own decisions like a solo miner
-you verify your pay % matches your hash %.
-pay goes through no intermediary that decides what you get. Rewards go directly to your bitcoin address.
-no one can tell you if you can or cannot mine on OCEAN.
-you can sign up and be mining in 3 minutes. No long waits to be approved.
TLDR; Mine like you are a solo miner but get paid better than if you are in a mining pool. Oh yeah and fuck centralization.