Thursday 5∞ on Nostr: POW comes from Hashcash of Adam Back. Miners pool together to reduce variance. Each ...
POW comes from Hashcash of Adam Back.
Miners pool together to reduce variance. Each are compensated proportionally to their hash power. I've studied variance in the field of sports betting and trading for over 20y. I understand why a solo miner would want to reduce the waiting time to pay the electricity bills. Bitcoin is different things to different people. It's the least communistic thing I can think of. Money is not the root of evil. The Bible verse is poorly understood. Used correctly, money does also good (it's a tool!). Unfortunately for more than 5,000y humanity got accustomed to unfortunate types of money. Since 2009 there is hope thanks to Satoshi and the gang. I don't care if he turns out to be Hitler or similar. Math is math.
Miners pool together to reduce variance. Each are compensated proportionally to their hash power. I've studied variance in the field of sports betting and trading for over 20y. I understand why a solo miner would want to reduce the waiting time to pay the electricity bills. Bitcoin is different things to different people. It's the least communistic thing I can think of. Money is not the root of evil. The Bible verse is poorly understood. Used correctly, money does also good (it's a tool!). Unfortunately for more than 5,000y humanity got accustomed to unfortunate types of money. Since 2009 there is hope thanks to Satoshi and the gang. I don't care if he turns out to be Hitler or similar. Math is math.