Is FPPS KYC? I'm coming back to this thread. Would you mind if I picked your brain about this issue more? I feel overwhelmed with the amount of information and difficult on where to even begin and your approach is what I'm looking to do
I will explain mining yields in detail with a much longer note. It's a good opportunity to showcase my permaculture approach to Bitcoin mining and the progression of home mining here at the homestead.
The most surface level yields from Bitcoin mining are the sats and the heat.
I mine with a FPPS pool which pays out sats proportional to the hash I contribute to the pool regardless if the pool finds a block or not. The FPPS pool structure is good for my situation because my hash is intermittent. My miners are only running when I need them to do work for me or when I have extra solar power.
The mining I do is transaction fee insurance because as the fees to transact on the network increase the amount of Bitcoin I mine increases proportionally. If I can't delay transactions until fees are more favorable the extra sats I'm earning from mining will subsidize the transactions I make during periods of high fees.
https://v.nostr.build/Zn4k.mp4
I don't think of the sats I earn from mining as free but more of a rebate on the cost of power usage from the work performed by my miners. Because I use an FPPS pool I don't need to expend extra energy in order to guarantee a payout. I get paid out proportionally to the hash I contribute at the time that I'm hashing. If I'm hashing I'm getting paid.
https://v.nostr.build/zeGd.mp4
I hope this clears up some of your questions when comes to yield, transaction insurance, and payouts when it comes to mining at home. Once again I am working on a longer for note that will breakdown home mining yields through the lense of permaculture.
#homesteading #permaculture #permies #meshtadel #selfsovereignty #bitcoin #bitcoinmining #homemining #homeminer #plebminer
Discussion
There are certainly fpps pools that are kyc free. I use Lincoin pool which only requires email and offers paynym payouts so there is better privacy with withdrawals too.
For anyone looking to get started I recommend getting an S9. No need to be in a hurry, taking small steps and learning gradually will prevent making costly mistakes.
For me simply having the S9 in my hands made all the difference when it came to finally taking the steps to figure it all out.