Subnostr

I’m totally ignorant here. If one pool doesn’t validate a transaction but 51% of the network does… doesn’t that invalidate the pool’s transactions for that block? Is bitcoin validation transaction by transaction or block by block? Or hash by hash? I understand bitcoin’s economic functions well but the programmatic mechanism still escapes me.

GHOST 2y ago

A block is solved roughly every 10 minutes by a single miner or a pool of miners. The transactions in the mempool are confirmed when this happens, as many that can before the block memory space is full. Ones that didn’t make it stay in the mempool for another 10 minutes until another block is solved by a different miner for another chance of getting confirmed. Usually how much you pay in fees determines how fast you can get confirmed.

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Discussion

Keith 2y ago

That’s probably the best explanation I’ve received! So miners receive the transaction fees from the mempool included in the block it solves? That’s a secondary way miners earn bitcoin on top of the block subsidy? And some mining pools are refusing to include OFAC wallet addresses in their mempool when solving blocks?

GHOST 2y ago

Yes. The miner that solves the block receives the block reward and any fees for the transactions that were confirmed. Miners Tetris in as much as they can to maximize their profits. Below is a visual representation of that.

At least one miner pool has done so that has been observed. Possibly more than we know. I am hoping to raise awareness about this issue and advocate for miners not to join pools that censor.