#Bitcoin incentives are working! #Ocean with its censoring mentality is losing miners. 🤙🕺
Discussion
It has nothing to do with bitcoin incentives. More to do with the massive campaign that was launched against ocean by Samourai (a known bad player).
Ocean has published its node settings.
Show me the settings for the big 4.
Looks like you never mined. Miners incentives are always to make as much profit as possible. They don't care about some hate campaign. Ocean's thinking is totally against the miners profit maximizing incentives with its censoring.
I have been mining for nearly 2 years.
You are thinking about the reward for the next block, I’m thinking about the value of bitcoin in 20-50 years.
I am incentivized to protect Bitcoin.
If we don’t fix the mining centralization issue, Bitcoin will trend to zero. I’m mining with ocean (and an investor in ocean) because I care deeply about ensuring bitcoin is here for my kids.
Mining centralization? Have you seen that years after years Bitcoin mining is coming even more decentralized??? You can't say any valid reason why a legit transaction should be blacklisted. This is totally against Bitcoin's fundamentals and incentives.
Un buen volumen! Ojalá les vaya bien ⚡️⛏️
Hashrate is decentralized but mining isn't. Block templates are created and controlled by a few large mining pools. I've only recently come to understand this. That's why I moved my hash to nostr:npub1qtvl2em0llpnnllffhat8zltugwwz97x79gfmxfz4qk52n6zpk3qq87dze. Mining pools and individual miners who created they're own block templates are free to include whatever transactions they choose, that's the free market. Market forces aren't solely determined by highest profit. If it were, nostr:npub1qtvl2em0llpnnllffhat8zltugwwz97x79gfmxfz4qk52n6zpk3qq87dze wouldn't have any hashrate. The decision on whether to include inscriptions in the block template will be delegated to the hash providers themselves once stratum v2 is implemented. That's when hash providers will become more than hash providers, they will become miners. This is where mining needs to go for the health and decentralization of the network.
Ok, but not the large mining pools are censoring, but Ocean itself. Stratum V2 is the future, but until then for me any pool that is censoring a legit transaction can GFI.
Large pools have censored transactions (f2pool recently admitted this) and Luxor mined a block earlier this year for virtually zero onchain fees but took payment via side channels, thereby screwing all the hash providers in their pool. The reason they can do this is because they create the block template in obscurity so hash providers can't see the block until it's mined. I'm not saying Ocean is perfect, but at least they show you in real time their block template so when they do find a block, there are no surprises.
I know these pools previous censoring attempts, but all stepped back after public backlash. Miners are moving from censoring pools because that hurts their financial incentives. It doesn't matter if the block template is public when they are actively censoring valid transactions. They're not different than others in this case and miners will leave from them too.