damn, i didn’t know how bad the #bitcoin mining situation has become...
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I'm an independent #Bitcoin mining company. We're running a powerful Bitaxe. Looking to take the market by storm and upgrade soon.
😂
But the mining businesses in a way are decentralized with shareholders and board members right? Also part of the Bitcoin ecosystem. Plebs who dedicate hash-rate should have the right to choose where they want to mine. Creates more competition in the free market?
Or when you do a transaction, like you choose your fee you should be able to choose your mining pool🤔
Thanks @Isa ⚡️ for drawing attention to this issue. You captured it well. I am very passionate about this subject, and so is the people I work with at @Abundant Mines.
The mining industry certainly needs healing.
Very good video 👏🏼.. however also bitaxe projects are based on bitmain asic chips .. so it could be a revolution for solo mining however high perf asics chips are still undocumented blackboxes
There's always #Monero #XMR
damn that must have took a lot of effort to make
Great video 💪
So informative. Thank you
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The reason why open source #bitcoin mining hardware and software is needed 🫡
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No you just choose the fee, miner choose which transactions mine in their block.
But why can’t the sender choose? Won’t that increase decentralization and stronger free market dynamics?
yes, I have a plan to buy two bitaxe, one for solo mining and one for pool ;-)
I think that braiins is working on it own chip
and I trust trezor HW wallet, there is new 7 which looks very interesting
You create a transaction, it goes to the mempool of all Bitcoin Node, the miner choose which transaction include in the next block.
There are about 20 mining pool, an 10000 solo miner who try to mine a new block.
This is how bitcoin works, and can't works in any other different way
But why can’t the sender also have the option to choose?
Thanks for explaining. I’m not technical so it’s nice to have these thought experiments to understand the protocol better
How can you identify a miner? If 1000 transaction choose 1000 different miner, they mine a block with one transaction each?
If a miner mine a transaction destinated to another miner, what happen?
Doesn't work, no one blockchain works in this manner.
BTC is digital gold. But you don’t pay with gold. 🤷🏻♂️