Hey, if you like gambling, you will LOVE bitcoin mining ⛏️
GM! Stay humble & hash sats! ⛏️
Evan here. Yes I’ve seen a few folks try Datum on Ocean recently, it does not work with our service. To use Ocean pool, you need to use their standard stratum v1 host with btc address as username.
🧡 We’re bitcoiners. We believe in letting the market work.
So when people ask us what the Rigly hashrate marketplace costs and what they can make…we say, “DYOR!”
Also, we let the market decide how much the hashrate should go for by selling it at auction.
In this sense, Rigly is like Ebay:
⛏️ You pick an auction
⛏️ Place a bid
⛏️ Others place bids and the winner takes the hashrate
Through this, you’re also helping to decentralize mining. It’s a small part plebs play, but we still have an important role in fighting Big Mining. 🫡
Here’s our handy guide to DYOR so you can profit:
https://blog.rigly.io/how-to-bid-on-rigly-auctions-20250127/
It’s funny because it’s true…
#bitcoin #mining #bitcoinmining
#Bitcoin Mining is a form of Privacy Technology.
Everyone should have access to it. ⛏️
GM! Stay humble & hash sats! ⛏️
If you’re wondering what mining pools do, here you go!
Rigly Co-Founders Nico Preti & nostr:nprofile1qyxhwumn8ghj7mn0wvhxcmmvqys8wumn8ghj7mn0wd68yttjv4kxz7fww3jhsctndpjkgem99eu8j7sqyq7jezkg8zyrx784ncdupq8p76wv8ssjcyymn8jpess7etzulu0lqs07j7q explain how pools work 👇
How do mining pools work?
We thought you'd never ask! ⬇️
One year ago, Rigly Co-Founder Nico Preti presented at bitcoin++ in Buenos Aires! 🇦🇷
ICYMI, a YouTube video of that presentation just dropped.
🎧 We know the audio is rough, so here’s a summary of what Nico talked about, mainly hashrate + privacy.
🥕 Did you know mining & privacy go together like peas and carrots? Because they do!
⛏️ Mining Pool Problems: A major challenge in Bitcoin mining is inconsistent payouts from pools due to the risk associated with "pay-per-share" systems, leading to issues like high electricity costs.
⛏️ Privacy Concerns: Using Bitcoin can lead to privacy issues, as transactions might link coins to users' real-world identities. Nico emphasizes the importance of privacy in a world where third-party services can track transactions.
⛏️ Mixing Services Debate: Mixing services are controversial because they can blend coins with others, leading to a lack of accountability and traceability, but some use them to increase privacy.
⛏️ Use of Multiple Pools: Analysis showed coinbase rewards being distributed from multiple mining pools, which may indicate efforts to obscure the origin of funds, posing privacy risks.
⛏️New Mining Payment Models: Nico highlights recent innovations in mining payment models, such as open market "hashrate marketplaces" (like Rigly!) and new reward systems that allow for more transparency in mining contracts.
⛏️ Privacy in Mining: Hashrate marketplaces could price privacy as a commodity, offering greater transparency in reward systems and making privacy a marketable factor, not just a byproduct.
⛏️ Decentralization and Censorship Resistance: Future improvements like eliminating reliance on mining pools for block production could boost decentralization, making Bitcoin more resistant to censorship.
⛏️ Proposed Solution for Hashrate Marketplaces: Nico proposes using proxy servers for hash rate distribution to ensure transparency, providing a way to track shares and ensure miners receive proper compensation even with fluctuating mining pool difficulty.
Now you know what keeps us awake at night 😉
https://www.youtube.com/watch?v=NDnSuT9FAmU&ab_channel=bitcoin%2B%2B
GM! Stay humble & hash sats! ⛏️
