Did my own research.
With 700GH/s this Bitaxe thing is a toy. In the @`OCEAN`pool it would have just a 0,000021% oh hashrate's share.
Basically nothing.
But.
Apparently it contributes significantly to the decentralization of the process of bitcoin mining.
People way smarter than me (like Luke Dashjr and many others) made a big deal of this issue and as far as I can understand, it makes sense.
If having a single entity ruling over the 51% of the nodes is a centralizing issue, why would we want 3-5 gigantic competitors finding the majority of the blocks?
Bitaxe apparently fixes this, one drop at the time (just like in bitcoin fashion).
For this reason I'm convinced to buy a Bitaxe Supra (find this website, certified by the same people that make the Bitaxe https://bitronics.store/product/bitaxe-supra/)
I still am not sure whether I'll join a pool like Ocean (open source and permissionless) or I'll solo mine. I guess both instances work in favor of decentralization, so I'll decide when the thing comes in the mail.
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I’ve been eyeballing the Avalon nano 3 myself. Not nearly as cool as the bitaxe but does provide ~3TH/s. My basement is freezing in the winter and early spring. Been needing a source of heat for some seedlings I want to start next year too, so two birds one stone. I do feel guilty supporting a big commercial miner however. I’m conflicted.
-Bitcoin University, my personal favorite.
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-Simply Bitcoin here on Nostor is good too, they just got banned from You Tube
Good morning to you all. I was wondering, what’s the deal with Primal asking for your full name, DOB, and where you live to activate your Zap wallet? Seems a bit invasive.
#Nostr #Primal #Bitcoin
It may be, that’s the goal! I’ve learned you have to be careful who you are sending money to directly from your bank account. If they are bad actors, you are now associated with them. My process could help mitigate that, in theory at least.
Work in progress…
ACH deposit from bank to Strike. Strike allows instant transfers of fiat as a lightning payment up to a certain threshold.
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Lightning transfer from Strike to non KYC aqua L2 wallet.
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Swap from lightning balance to liquid tether on Aqua.
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Liquid tether for those accepting for BTC on RoboSats
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4+ hours withdraw to Hot wallet
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4+ hours send to Cold Storage.
You will incur some extra fees doing this, but small price to pay IMO. What do you all think? Anything that can be improved?
#Bitcoin