@Ron Procaius
Technically, you’re not mining at home.
Rather, you are part of a pool. The pool runs a node and you contract to sell computational hash power to that node. Unless you have a few hundred million dollars’ worth of hardware at home you are not mining.
Running a node involves every step in section 5 of the White Paper.
People tell you that you are mining, but unless you are creating blocks yourself and propagating them, ordering transactions, validating transactions simultaneously in the block you are creating and not merely taking a hash puzzle from a pool, it is not mining at all.
In effect, you are an outsourced electricity provider and lessor of equipment to a mining pool on a short-term basis. The thing people don’t seem to understand is that the validation and ordering and propagation functions are not outsourced at all and these remain in the pool.
Consequently, it is really just a funding mechanism for the pool node.
I know people don’t like to hear this, but the truth is that there cannot be that many nodes in bitcoin and when you’re talking about miners it is very limited.
I am glad, technically, you are supporting that Pool in aiding in the validation of transactions.
So.
Team Gorrilla
😎😂
CSW
Nov 5, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1636112223143600?thread_ts=1636112223.143600&cid=C5131HKFX
https://t.me/CSW_Slack/3326
Technically, you’re not mining at home.
Rather, you are part of a pool. The pool runs a node and you contract to sell computational hash power to that node. Unless you have a few hundred million dollars’ worth of hardware at home you are not mining.
Running a node involves every step in section 5 of the White Paper.
People tell you that you are mining, but unless you are creating blocks yourself and propagating them, ordering transactions, validating transactions simultaneously in the block you are creating and not merely taking a hash puzzle from a pool, it is not mining at all.
In effect, you are an outsourced electricity provider and lessor of equipment to a mining pool on a short-term basis. The thing people don’t seem to understand is that the validation and ordering and propagation functions are not outsourced at all and these remain in the pool.
Consequently, it is really just a funding mechanism for the pool node.
I know people don’t like to hear this, but the truth is that there cannot be that many nodes in bitcoin and when you’re talking about miners it is very limited.
I am glad, technically, you are supporting that Pool in aiding in the validation of transactions.
So.
Team Gorrilla
😎😂
CSW
Nov 5, 2021
https://metanet-icu.slack.com/archives/C5131HKFX/p1636112223143600?thread_ts=1636112223.143600&cid=C5131HKFX
https://t.me/CSW_Slack/3326
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