jay on Nostr: #[0] i know you have a bad taste in your mouth with hosted mining but imo it's a ...
ODELL (npub1qny…95gx)
i know you have a bad taste in your mouth with hosted mining but imo it's a necessary option for some. i think something like the fedipool concept you mentioned would actually really help decentralize things more than you initially might realize and significantly reduce downside risk.
at the end of the day, we do control the hash and were it is pointed to [for now]. in USA, i think it would be a very hard for the government to take a computer i have in a facility and tell us what code we can and cannot run without violating free speech laws.
things that are potentially cool - you can kinda do shitcoiny stuff w/ hosted mining contracts and use it as a psuedo proof of reserves kinda thing. for example if you get 10 people in on an S19, instead of it being $2k upfront, it's $200 upfront. then you have easy visibility into where the mined funds go AND you can pay out immediately via lightning.
i know you have a bad taste in your mouth with hosted mining but imo it's a necessary option for some. i think something like the fedipool concept you mentioned would actually really help decentralize things more than you initially might realize and significantly reduce downside risk.
at the end of the day, we do control the hash and were it is pointed to [for now]. in USA, i think it would be a very hard for the government to take a computer i have in a facility and tell us what code we can and cannot run without violating free speech laws.
things that are potentially cool - you can kinda do shitcoiny stuff w/ hosted mining contracts and use it as a psuedo proof of reserves kinda thing. for example if you get 10 people in on an S19, instead of it being $2k upfront, it's $200 upfront. then you have easy visibility into where the mined funds go AND you can pay out immediately via lightning.