OCEAN #mining pool is good for #Bitcoin in my point of view.
The points I picked up from them are:
- some mempool moderation is needed to protect the chain. But even this can get phased out eventually.
- untransparant mining pools take responsibility for the miner's duties
- mempool is losing effect due to regular "closed doors" incentives.
- most mining pools cannot prove their promises
- miners have to choose in the battle of "centralization+easy money" vs "decentralization+transparancy+robustness"
- miners can be denied in big pools. The OCEAN pool can pull those in.
- theory "ordinals becomes too expensive to sustain" fails in a world without #Bitcoin standard.
My take on #ordinals: they're bad for the #timechain. everyone cares about storage: they could just asswell use it for other things, so why use it for the #timechain? Transactions provide that reason: everyone wants to store it, because it is information that affects their future transactions. #Ordinals and #NFT's do not, their value is subjective.
Also, the more you use #ordinals, the more you hurt the network and thus your own #ordinal.
Plus, ordinals DO NOT EVEN HAVE TO BE expensive at all for real market dynamics: they are created OUTSIDE THE FREE MARKET!!
If governments throw ordinals, they can just arrange cheap deals with big miningpools to sustain it. Only pools that share their block template immeadiatly give miners oppertunity to get out timely.
₿itcoin
npub183…wmxya
2023-12-21 18:08:18
Author Public Key
npub183cew3aj00r3lk058huwy8qah5ej7v0u4ygs9xwhl6yl34wvq0jsqwmxyaPublished at
2023-12-21 18:08:18Event JSON
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"content": "OCEAN #mining pool is good for #Bitcoin in my point of view.\n\nThe points I picked up from them are:\n- some mempool moderation is needed to protect the chain. But even this can get phased out eventually.\n- untransparant mining pools take responsibility for the miner's duties\n- mempool is losing effect due to regular \"closed doors\" incentives.\n- most mining pools cannot prove their promises\n- miners have to choose in the battle of \"centralization+easy money\" vs \"decentralization+transparancy+robustness\"\n- miners can be denied in big pools. The OCEAN pool can pull those in.\n- theory \"ordinals becomes too expensive to sustain\" fails in a world without #Bitcoin standard.\n\nMy take on #ordinals: they're bad for the #timechain. everyone cares about storage: they could just asswell use it for other things, so why use it for the #timechain? Transactions provide that reason: everyone wants to store it, because it is information that affects their future transactions. #Ordinals and #NFT's do not, their value is subjective.\n\nAlso, the more you use #ordinals, the more you hurt the network and thus your own #ordinal.\n\nPlus, ordinals DO NOT EVEN HAVE TO BE expensive at all for real market dynamics: they are created OUTSIDE THE FREE MARKET!! \nIf governments throw ordinals, they can just arrange cheap deals with big miningpools to sustain it. Only pools that share their block template immeadiatly give miners oppertunity to get out timely.",
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