Nostr Web Client

Finally set up my Bitcoin node the way I wanted, launched my own self-hosted pool on it, and pointed my “lottery” Bitcoin solo miners with a combined hash rate of 4 TH/s at it! Now, if I’m lucky enough to mine a Bitcoin block, the reward of 3.125 BTC will go directly to my address, generated by the public key on my hardware wallet.

Next, I want to learn how to construct blocks from my node’s mempool directly. This way, in a hypothetical scenario where my transactions are censored, miners refuse to process them, or similar situations arise in the future, I won’t depend on anyone! I can include my transaction in the block and mine it myself. Sure, with my hash rate, it would take me a couple of thousand years to mine a block, but it’s the principle that matters!

There are already thousands of solo miners like me around the world. In 5–10–15 years, there could be hundreds of thousands or even millions. If there are enough of us, it will be impossible to censor Bitcoin through large mining companies, pools, or corporations (which governments, intelligence agencies, central banks, etc., can easily pressure). A swarm of decentralized ants like me will make that impossible.

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Discussion

Vires 1y ago

thank you for your hashrate sir 🫡

im contributing 2.4TH to the network 🤞

Vires 1y ago

why did you decide to set up your own mining pool? I use the default public pool

BoBKK 1y ago

Because I want to solo-mine, instead of participating in the pool where my share will be tiny and even in case that pool discovers a block, my share of the reward would barely cover that tiny electricity cost which I consumed.

I don’t care for that money, instead I prefer to test luck and mine in entirely solo fashion, so that if I discover block, I get full reward. Chances extremely low but it’s a forever lottery for me, which can be regarded in this way.

BoBKK 1y ago

And another reason: I want to self host my own pool at my own node, because only in this way I can avoid trusting anyone else. Using web.public-pool.io even if it’s solo, would mean that I have to trust them so that my reward is sent to my address eventually.

Vires 1y ago

isn't this solo pool open source, so you can see the Bitcoin block reward will be paid to the associated input receieve address?

Vires 1y ago

my only concern with this is if a block is found, umbrel for example can have a delay broadcasting the new due to tor? Therefore, even less chance of mining a solo block

BoBKK 1y ago

You’re right here. But you can set up a node with no Tor.