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Could someone elaborate on this coin base output limit? Can’t mean what it sounds like it means

You can only pay out to a small number of addresses in the coinbase. This is not a limitation of bitcoin, it is a limitation imposed by firmware or possibly pool software. I'm trying to get more concrete information now.

I know nostr:nprofile1qythwumn8ghj7ct5d3shxtnwdaehgu3wd3skuep0qyt8wumn8ghj7etyv4hzumn0wd68ytnvv9hxgtcqyqpdnat8dlluxw0la9xl4vuta03pecghcmc4p8vey25z6320ggx6ydvfd7j had to stay within this limit and that directly informs their minimum on-chain payout amount.

Worth stating out loud that these limitations only benefit incumbents to the industry. They hold back the entire bitcoin ecosystem. For bitcoin to achieve it's full potential we need to eliminate these practices with prejudice.

If we activate CTV we can remove this limitation. By my count this would be the second soft fork that kills an anticompetitive practice abused by Antpool.

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Discussion

YODL 9mo ago

Very interesting. Another reminder that I need to learn more about ctv. Thanks for ‘splanation

Rand 9mo ago

t Y i get it sumwhat but followed*/*

vnprc 9mo ago

I want to zap you but my LN payments are failing. Pls sir or madam can I send zap? 🙏

Rand 9mo ago

i will have 2 get back 2 U on that but hey friend i value sincere reply more - so there IZ th@ really no need 2 zap for this dad but t Y for letting me know friend*/*

YODL 9mo ago

I was able to burn — I mean zap the above note fwiw

Rand 9mo ago

prOOfiRl*/*

vnprc 9mo ago

I was able to send zap from a different mint. 🤙 That's generational wealth, my friend. Don't spend all those sats in one place!

Rand 9mo ago

t Y friend i do appRECiate*/*@ least i tRy

Rand 9mo ago

i won't kidz will, "generational wealth" */****

Rand 9mo ago

though i do trade my stfuP*/****LOLz

Rand 9mo ago

still config. on tek apolo.*/*

Rand 9mo ago

U r 1st 2 notify t *Y*

Rand 9mo ago

is #bitcoinmechanic on here/bizi & not uP On latest, t Y

vnprc 9mo ago

Users will have to make one or more additional transactions to claim these funds, unless we build something really clever (which we should totally do!). Interesting game theory around the first user to withdraw helping defray the costs for other users.

Additional reading:

https://rubin.io/bitcoin/2021/12/10/advent-13/

https://github.com/stutxo/op_ctv_payment_pool

This is the really clever thing.

https://rubin.io/bitcoin/2021/12/12/advent-15/

Bitcoin Mechanic 9mo ago

It is only old antminer firmware and LuxOS at this point.

vnprc 9mo ago

OK so it's not an anticompetitive practice abused by antpool. Good to know thank you!

Bitcoin Mechanic 9mo ago

I think it's just incompetence rather than malice, and it is actually fixed now.

Rand 9mo ago

good 2 C *U* here*/* will get into your timeline tomorrow nostr:npub1wnlu28xrq9gv77dkevck6ws4euej4v568rlvn66gf2c428tdrptqq3n3wr

Rand 9mo ago

i guess i already followed buttbut, lost track with sum of this crazydayz/ t Y******B*roth'r*/****

jungly 9mo ago

There is also an economic limitation. More block space you take for making miner payouts, the less you can earn fees for that same space. Plus, it hurts smaller miners. They want to pay fees aggregating small payouts.

Belcher did an excellent job explaining it all in this post: https://bitcointalk.org/index.php?topic=2135429.0

"Here is an example of a p2pool coinbase transaction: https://blockchain.info/tx/d1a1e125ed332483b6e8e2f128581efc397582fe4c950dc48fadbc0ea4008022

It is 5803 bytes in size, which at a fee rate of 350 sat/b is worth 0.02031050 btc of block space that p2pool cannot sell to any other transaction. As bitcoin inflation goes down and miners are funded more by fees, this puts p2pool at more and more of a disadvantage compared to trusted-third-party mining pools.

As each hasher is paid to their own bitcoin address, this limits the number of hashers taking part as adding more individual people to the payout transaction increases its size. Also small payouts cost a disproportionate amount in miner fees to actually spend, which hurts small miners who are essential to a decentralized mining ecosystem.

This could maybe be solved by keeping a separate balance state for each user that is independent from the payouts, and make payouts only when that balance state exceeds some reasonable threshold. But this increases the variance which goes against the aim of pooled mining."