nostr:nprofile1qqszhlkgtf3mzgk6q3l90vvta6m83kqqn8lrmyfr6hhpt6mn47fjzugpzamhxue69uhkummnw3ezu6p50qc8ytngdaehgtcpz9mhxue69uhkummnw3ezumrpdejz7qgewaehxw309aex2mrp0yh8xmn0wf6zuum0vd5kzmp0dnst8x GTFI

WE'RE GONNA RIVAL DIDDY NUMBERS WITH THAT MUCH LUBE BRAH

Devs need to fight more.

thanks for returning to a proper posture of responsible disclosure. the ninja launches were disruptive and malicious. we're all here to advance bitcoin and there's was no need to attack us like you did. the freaks will remain cautious moving forward as you work to regain our trust. 🫡

💯💯💯

NEVER BEEN TO SMASHVILLE AKA SNATCHVILLE AKA CUMTOWN 🤔 HMM

WHY ISN’T BITCOIN GOING UP NOW RATES ARE BEING CUT!

I WAS PROMISED!

nostr:nprofile1qqszhlkgtf3mzgk6q3l90vvta6m83kqqn8lrmyfr6hhpt6mn47fjzugpzamhxue69uhkummnw3ezu6p50qc8ytngdaehgtcpz9mhxue69uhkummnw3ezumrpdejz7qgewaehxw309aex2mrp0yh8xmn0wf6zuum0vd5kzmp0dnst8x

GM. Every once in a while I revisit the FB app on my phone since there are locals I can contact there, that I can’t otherwise. Anyways, here’s an old photo….

Just grind up your old phone & laptop batteries, then use it like a flavoring on your food. It's extra spicy.

Why Ocean says its miners make more money

The short answer is: lower fees. Mining pools don’t distribute *all* of their revenue to their miners because the admins keep some revenue for themselves as fees. Ocean charges *lower* fees than all other pools, so they give *more* revenue to their miners than all other pools. But there’s a somewhat complex reason why Ocean can afford to do that. So I’m about to give the long answer.

But before I do that, here’s some background: Ocean Mining is a controversial mining pool in bitcoin for several reasons. One reason is the loud opposition to “arbitrary data” voiced by some of its administrators. Most mining pools in bitcoin have a welcoming attitude toward almost any transaction that pays competitive mining fees, regardless of what data it embeds on the blockchain. But Ocean’s administrators loudly oppose transactions that embed pictures, audio, and other non-financial data on the blockchain, and they propose a default mining template to their miners that excludes many such transactions, even though the pool collects less money from transaction fees as a result.

This stance causes some bitcoiners to wonder how Ocean remains competitive with other mining pools. Aren’t they making less revenue than other pools? That must be the consequence of rejecting a whole class of fee-paying transactions by default, right? And shouldn’t that lead their miners to make less money than they can make at other pools, and abandon Ocean as a result?

Ocean’s loud answer is: “Nope, on the contrary, our miners make more money than the miners at other pools make.” And this is not because Ocean *earns more* than other pools (in fact, as might be expected with their stance, the pool earns slightly less); it is because Ocean *distributes more* of their revenue to their miners.

Think of it this way: suppose there are two pools, Ocean and Desert. Both have 100 miners who all contribute equal amounts of hashrate. But while Ocean earns $500,000 per block, Desert earns $501,000, because it welcomes transactions containing lots of arbitrary data. In that scenario, you might expect Ocean’s miners to collect $5,000 in revenue apiece while Desert’s miners should get $5,010. But admin fees change this: if Desert charges 2% in admin fees, and Ocean charges only 1%, then Desert’s miners will only make $4,909.80 per block while Ocean’s will make $4,950. So a pool can earn slightly *less* money in total but still distribute *more* money to its miners simply by charging lower admin fees.

So that explains part of how Ocean remains competitive, but there’s another factor I’d like to cover: how can Ocean afford to charge lower admin fees than its competitors?

The answer involves something called “variance.” Mining bitcoin is partially random; which pool mines a given block is not exactly predictable, but a general rule is, the pools with more hashrate mine blocks more often. But sometimes a pool gets unlucky, and doesn’t mine very many blocks for a while, and when that happens, its payouts are smaller than expected. This creates a layer of unpredictability – aka variance – that mining pools don’t like: many miners would *like* a guarantee that they will receive a particular amount each month, but variance makes this difficult.

The solution adopted by most mining pools is to use a portion of their admin fees to create a kind of “luck fund.” When the pool is unlucky, and doesn’t make enough money to pay their miners what they usually pay, they get the difference from this fund, and replenish it when their luck returns.

Ocean simply does not have this luck fund, so they just don’t charge the portion of their admin fees that they *would* otherwise deposit into that fund. When you mine with Ocean, your payouts only come from what they earned in recent blocks, and none of it comes from the luck fund, which does not exist. This means you make more money than other pools so long as the pool’s luck is average or higher than normal (because they charge lower admin fees), but less money when their luck is poor (because they mined fewer blocks than expected, and have no luck fund to make up the difference).

In summary, Ocean claims its miners make more money than miners in other pools because Ocean charges lower admin fees, and thus they can distribute *more* money to their miners, even though the pool makes slightly *less* money *in total* than other pools. They can charge lower admin fees because they do not have a luck fund, and this means the amounts they payout vary more than other pools do, but with a significant skew to the upside. I hope that helps!

GM family early morning for sunrise on the beach today. Has been really enjoyable. Kids and pup are worn out.

God has blessed me in life. We may not have a bunch of money or be wealthy financially, but I'm rich with the family my wife and I have been building together.

Have a wonderful and blessed day today. Spend some time outdoors if you can and tell your family and friends you love them

I've been graphene only for a few years. You dont need anything else.

I’ve read enough books.

Time to write one.

LOOKING STRONG IN THE DONG

At these prices, half of a #Bitcoin is… $58k 😎

We're talking about breakfast foods and the preparation of such on Corny Chat

Nothing stops this crane. 🏗️

GM 🐸

The line for selfies with nostr:npub1spdnfacgsd7lk0nlqkq443tkq4jx9z6c6ksvaquuewmw7d3qltpslcq6j7

nostr:note1jlw0sul5vk4ztu2rpxery8t2t05u04kwlywu9lpl6jxtffraevfsyug832

How was the day, fam?

only 4 each? lmfao

I thought wine was supposed to get more valuable with age.

Everything in my cellar is losing value fast.

Even as the bottles improve with age and each vintage gets more scarce, they lose value.

Bitcoin is eating my lunch.

Just in the last month, my wine is down 26% and I don't see this stopping any time soon.

Once I understood this dynamic, that my wine is going to be devalued in bitcoin terms forever, I had two choices:

1) Reinvest back into my business to grow faster than bitcoin.

2) Sell wine for bitcoin and let that grow for me

In some ways I'm lucky that scaling up a winery is so hard. I age red wine for 2 years before I sell it and there's no real way to speed that process up. How could I possibly justify an attempt to outgrow bitcoin? My choice was easy.

For CPG businesses that cycle inventory faster, the decision isn’t as clear.

How do you make the case for bitcoin to someone beating its historical CAGR by reinvesting into their business? They're killing it, but long term, do they really expect to outpace bitcoin?

The pressure to scale constantly disappeared when I realized I didn’t have to grow just to survive. Just putting some of your sales in bitcoin lets it do a lot of the growing for you.

Growth is a fine goal, but chasing it just to stay afloat wears entrepreneurs down. They trade sleep, family-time, and sanity in the hopes that they can keep up.

Bitcoin can carry the growth pressure so you don't have to. Build the business you actually want, and let bitcoin carry the rest.