the total utter lack of understanding of the probabilities and the nature of proof of work among nostr users is embarrassing
please, do some reading
you are literally less likely to win a block with a bitaxe than the actual lottery, dollar for dollar
and proof of work needs a consensus, or you don't set a barrier at all
But it does give you a model to work with if you want to learn about mining and I think that has value all by itself.
My biggest take away is that; while large minors have the majority of hash-rate At the moment.
Eventually minors will slowly be unprofitable.
If more plebs keep hashing small amounts - the plebs eventually (could) become the majority and the network continues its path to decentralization.
Sure a bitax is a small amount. But the more of us out there hashing the stronger we and the network becomes.
I agree. I think starting small now, learning how to navigate switching mining pools, template generation, trouble shooting, etc. will have heavy impacts later on.
superstition bro
chances are you will never mine a block until that device dies
at least you have a high chance of making the cost back by pool mining
Lottery is a lottery.
I don’t see how any of this is magical thinking.
If you value adding hash to the network then it’s worth it.
If you're solo mining and never mine a block, are you really adding anything to the network?
Only indirectly because you are learning about mining. Unless you’re attached to a pool then the hash evaporates. Still, the knowledge is worthwhile.
If all the large minors evaporated the network would be secured by the node runners and the solo minors would take the hash.
The point I see is that the Bitcoin network will live on and organically spread.
The more it’s spread out the healthier the network becomes imo
nah man, solutions are solutions, one CAN have one just one is UNLIKELY to get one
but as we have amply seen, some HAVE got one, so it's post facto, in other words, yes, you are helping the network be more secure, even if it's equal to taking a piss one time under a tree at a community orange grove
yes, you are adding hash power, even if it's a piss
it's magical thinking to take seriously the idea that you are in any way likely to win a block mining solo with one of the smallest miners currently deployed on the network
but it can happen, and it's not magical thinking to just run one for the lulz
that's the main product of solo mining: lulz
it does help secure the network though, about 0.00000001% more security
i think it's just stupid lottery ticket purchasing unless you actually tinker with the process using testnet, at minimum
While that may be mathematically true, haven't 2 BitAxes already found blocks. Based on how few of them have been produced and how few run them, that is pretty nuts to think about.
Are you sure it's even mathematically true then?
it's luck, it happens, and whether or not it happened doesn't mean it's gonna happen again soon, there is ZERO correlations or patterns to luck
i've modded the bitcoin proof of work consensus and i had all those newbie thoughts in my mind
there is much greater chance of picking a winner in roulette, poker or blackjack by a margin that is comparable to the distance from one place on earth to another compared to here and the furthest thing that Webb has photographed
the only thing i learned other than these things about poisson point processes like proof of work mining is that you can reduce the width of the distribution of finding blocks by the use of powers of two timing targets that run concurrently (multiple block schedules), this was successfully able to cut down the variance by maybe half, of the time between finding blocks, so like taking the bell curve and squashing it together a bit
but this thing about bitaxes is pure superstition
Which lottery? Can believe you haven't done some basic reading on all the odds of winning on all the lotteries in the world just to prove your point, it's embarrassing.
oh, yeah... i'm sure that the human world has numbers bigger than FUCKING 128 bits, let alone 256
no, if it has less than 40 digits in it, it's irrelevant
I don't really care that's the point. Unlikely to win either so I can't be bothered to work out the chances of it.
so, your argument is:
you are stupid because you didn't do some dumbass procedure even though everyone knows the chances of winning the lottery are at least somewhere around the population of the country
yeah, i did! there's far less than 77 digits in the number involved in the number of tickets bought in a fucking lottery, maybe it is 8 in the USA for the most subscribed lol
i don't need to "work that out" that is so elementary it's retarded
and, on your point - that's my point, it's not probable, at all, and that it has happened twice makes no further difference to the probability
The fact you found it embarrassing was the bizarre part for me no one is genuinely expecting a return on investment for these things outside the scope of education.
The chance to win is not a probability of finding a 256 bit number it is a range less than that. Also, the chances of mining a block is deterministic based on the participant computational load. This means if you were the only miner for 3 weeks you would find a block every 10 minutes with a bitaxe. It feels like you don't actually understand the probabilities here.
it feels like you think 5 less digits out of 77 counts for something
So, you still don't understand. If I was the only miner and my CPU was the device, I would still find a block ever 10 minutes after 3 weeks. Do you understand what that means? My CPU at 4 GHz does AT MAXIMUM 4 million calculations per core. That's at most 8 digits. How could I possibly win a block every 10 minutes with only 8 digits of computing power? Because the number range is variable compared to other participants. The more computational power the more chance. But even with less computational power, the chance is never zero.
To put it another way you don't need to be faster than a bear to evade one. You just are more likely to when running away in a group when others are slower than you.
Any day now I will mine a block, you'll see!
nostr:note16fcmpyf3pt46qkf9wtdtpckeysw4szx6058hwwd52qt06sd4mrys70dzr3
nice miner lol, such fans of cooling
