Another pool announced today that it has custody of an 83 BTC fee that it intends to give away. With OCEAN, those 83 BTC wouldn’t be in our custody—they’d already be in our miners’ wallets, paid directly by Bitcoin. The decision to refund should be up to the miners, not the pools
https://image.nostr.build/20539836b863723d5ae1d504a4d3a90487587205af0c08323d42d38b71916c1e.jpg
I haven't thought about it this way and honestly i haven't realized it's a pool that is willing to giveaway coinbase bitcoins instead of the miner that mined the block.
this is truly a problem for miners in pool
nostr:nevent1qqs0czmhgll9v0tnv8yu0j8743ls2j4xggrdxduyrgemff6a0tu4nqcpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsz8nhwden5te0wfjkccte9ehx7um5wgh8w6tjv4jxuet59e48qtcpy9mhxue69uhhyetvv9uj66ns9ehx7um5wgh8w6tjv4jxuet59e48qtcpzdmhxue69uhkummnw3ezu6pn0ghx5up0qyv8wumn8ghj7mn0wd68yttsv95kgtngxdazu6ns9uq3jamnwvaz7tmwdaehgu3dwahhymry9e5rx73wdfcz7qgcwaehxw309ahx7um5wghxsmmv093x2cfwvdhk6tcpr9mhxue69uhkummnw3ezuen9v35hvetjwdjju6ns9uq37amnwvaz7tmwdaehgu3dwfjkccte9ehx76m0w3shymewvdhk6tcppemhxue69uhhjctzw5hx6ef00zgluz
Congrats for the first #bitcoin mined block #819242
Make Plebmining Great Again.
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It wouldn't for small miners, you custody their funds until their balance reaches something like 1mil sats right?
We never custody, but you're right below the threshold wouldn't be paid yet.
However, a huge reward like this is going to push many more past that threshold
I purchased an ApolloBTC miner and I'll be pointing my small hash rate towards Ocean. It might take me 18 months to get any significant amount of sats, but I am excited to support what Ocean stands for.
where do the funds lie in the interim? Not sure I understand
If my guess is right, small miners build shares, and when that number crosses a threshold the pool includes the miner in the block reward. That would make sense to me.
That just sounds like custody with extra steps 😁 oh well, roll on lightning integration I guess!
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