Nostr Web Client

Another pool announced today that it has custody of an 83 BTC fee that it intends to give away. With OCEAN, those 83 BTC wouldn’t be in our custody—they’d already be in our miners’ wallets, paid directly by Bitcoin. The decision to refund should be up to the miners, not the pools

Chromie 2y ago

It wouldn't for small miners, you custody their funds until their balance reaches something like 1mil sats right?

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Discussion

Luke Dashjr 2y ago

We never custody, but you're right below the threshold wouldn't be paid yet.

However, a huge reward like this is going to push many more past that threshold

Matthew D 2y ago

I purchased an ApolloBTC miner and I'll be pointing my small hash rate towards Ocean. It might take me 18 months to get any significant amount of sats, but I am excited to support what Ocean stands for.

Chromie 2y ago

where do the funds lie in the interim? Not sure I understand

Matthew D 2y ago

If my guess is right, small miners build shares, and when that number crosses a threshold the pool includes the miner in the block reward. That would make sense to me.

Chromie 2y ago

That just sounds like custody with extra steps 😁 oh well, roll on lightning integration I guess!