What would happen if a couple of hundred million Bitcoiners, all started home mining with increasingly serious kit 🤔
Discussion
I want one ☝️
Is this stuff mining pool agnostic?
This is much cooler (and warmer):
It only has 39 TH/s at 1200W
Compared to 90 TH/s at 1600W
But the important question is, can you point it at your pool of choice?
While mining 39 Th/s of Bitcoin, it also simultaneously heats and cleans the air of 36 square metres of space. It also allows both solo and pool mining.
So, all miners produce heat, generally the goal is energy efficiency of the output heat in terms of Joules per terahash (J/TH) .
I don't have dirty air, but if I did, I'm pretty certain that you can either have a fresh, dirty supply that contains oxygen or recycled, clean air with depleted oxygen which will suffocate you.
Unfortunately for someone like me (and the average pleb in the U.S.), electricity costs are more like $0.15/kWh. If the posted profit assumes running a 1674 watt appliance continuously, my increased electricity costs would turn that $41/month profit into a ~$20/month loss.
I think it would be worse in the UK where I am.
I wonder if someone in the position to earn that $41/month profit would be willing to take an extra $10/month from me to apply the mining template of my choice (e.g. via nostr:npub1qtvl2em0llpnnllffhat8zltugwwz97x79gfmxfz4qk52n6zpk3qq87dze ). It seems like there's a business opportunity somewhere in there for someone. 🤔
Maybe I'm just being dense and such a service already exists?
I'm not sure I understand.
Aside from altruistic, what would be your or a pools incentive for paying someone to use a specific template?
Would that be a one of payment, or a monthly fee?
Essentially to contribute to decentralize mining - which is basically just altruistic I suppose; but, ultimately, what's good for the network is also good for me. It seems to me that many home miners do so despite not really having a rational financial reason for doing so. Clearly, some just do it as a hobby... but overwhelmingly, I believe they just like to feel like they'r doing their part.
I think a monthly fee could work just fine... or maybe a fee per hash rate would make more sense (in case there was any down time)... either way, the service would have to provide a way for me to verify how much hash power is being applied to my template... similar to how pools verify such things, I suppose.
Altruism aside, I'm not sure where the money for those template payments would come from.
The pool is already paying out the block reward to the miner(s), minus its admin fee.
Perhaps if the pool hold back more admin fees by default, which they relinquish if a miner uses an approved template.
You lost me (or maybe I lost you). Maybe I should start from the beginning:
Hypothetically, suppose you were someone with $0.10/kWh electricity costs. Based on the original post, you could earn $41/month profit... presumably by joining a pool (e.g. Ocean)
Now, I offer you $10/month in addition to the $41/month you are already earning just to apply the template of my choice. You agree to do so (heck, it may have even been the template you would have chosen anyway). As far as the pool is concerned, nothing has changed. I'm just paying you for the right to tell you what template to mine for.
I think this starts at the beginning again, but tell me who you are and why your paying $10 a month to a miner?
Also, you'd be paying hundreds of millions of miners $10 a month. Where are you getting that money from.
Or when you say you, do you mean you an individual paying another individual miner $10 a month. Again, if so, why?
As an individual, you can afford $10 a month in altruism, but as a mining pool, you can't afford billions of dollars a month to pay 100's of millions of individual miners.
In my hypothetical, it's just me (1 person; not a mining pool) paying you (1 person - specially with the 90TH mining rig mentioned) $10/month.
Oh OK, sure, I'll send you my tether wallet address 😂
So this is primarily an altruistic pursuit.
Yes. I, like believe many home miners, would just like to do my part for the good of the network (which is good for us). If I could just pay someone $10/month to do so rather than lose $20/month due to my higher electricity costs... that seems like a win/win.
So, I guess the service kind of already does exist: https://blockdyor.com/rigly-review/ ... maybe even better than what I was thinking, but I haven't had a chance to investigate in detail, yet.
Weird that my Nostr feed is suddenly full of nostr:npub1t6el40knsq8hmrpr0m6tt3t0tr4pdeyhlt2qelwhgtwawddqx0xsv03scu .
I would like to know where the mercenary hash from direct buys comes from. 🤔
