I did a trial of nostr:nprofile1qqs9avl6hmfcqrma3s3haa94c4h436skujtl44qvlht59hwhxksr8ngpzemhxue69uhk2er9dchxummnw3ezumrpdejz7qgwwaehxw309ahx7uewd3hkctcpz4mhxue69uhkummnw3ezummcw3ezuer9wchsuwkc8a's pool mining today. It was 1000 sats for 3hrs of 120TH/s hash power using the Braiins pool. It was easy to sign up, pay the invoice, and begin hashing. I was able to monitor my workers the whole time with the hash rate fluctuating between 105TH/s and 120TH/s. I made 595 sats over my 3 hours.
As well as it all worked, I'm a little confused as to why I would pay for larger hash contracts given that my return on a 1000 sat investment was 595 sats. I'd effectively be paying to receive about 50% of the expense. That doesn't make sense to me. Am I missing something? #musings
It would only make sense for them to sell hashrate for more than the revenue it would generate.
It can still be a useful service. For one, It's a way of laundering KYC-ed Bitcoin into non-KYC Bitcoin, which some might value. And when purchasing future hashrate it's also a bet on bitcoins future price that might pay off
I don't see how paying a 42% premium to launder bitcoin is a great value decision. And if you have the sats to purchase hash power that's going to return only 42% to you, why not just use those sats has your hedge? I just don't see how effectively reducing the hash expense by about 40% makes sense, regardless of your purpose.
I think for them, they cannot buy the hash power without your initial investment. So it's like crowd sourcing in a way. In the end both you and them win. At least that's how it made sense for me after having the same thoughts as you.
Everyone wins is totally the point. There’s a little math/research to do, too, so you’re hopefully DYOR and not losing 60%
Do you have any documentation on related strategies to maximize return? This is my first experience with purchasing hash power and I'm a bit out of my element. Any information you could provide would be greatly appreciated. Thanks!
