GM 11.11! Tuesday breaks the Monday fast

Good Monday! 🤙

How much hashpower is needed for a pool to find at least 1 block per week? A lot. Global hashrate is around 1100 EH/s currently. There are roughly 1000-1050 blocks per week, you would need 1/1000 of that (0.1%), so at least 1 EH/s of hashpower. In other units: - 1.000 PH - 1.000.000 TH - 5000 pcs. of S21-category machines - 0.5-1 million Bitaxes. And still, that's only on average, so you may not see a block for many blocks. For comparison, public-pool has about 40 PH, CK pool 170 PH, Ocean 17.700 PH (1.65%).

Idea: a permissionless mining pool using a coinbase tx to a temp address, and have a pre-signed large payout tx from there. @OCEAN pool pays out some miners directly from the coinbase transaction, but they have to play some tricks, as the size is limited. IF we had covenants, it would be possible to commit to an arbitrary large second transaction, but we don't. Would it be possible to create a large payout transaction spending the coinbase, pre-sign it, and have a single-output coinbase? Miners are given the pre-signed transaction, and can verify that they would be paid with this block candidate. The pool or any miner could submit the payout transaction in the event a block is found. A malicious pool may try to spend the temporary coinbase output in a different transaction, so there is some trust needed.

Python and Sqlite keep the internet together.

Electrum server is the silent workhorse powering many bitcoin apps, linking the app with the bitcoin network. Electrum has two interfaces: the more powerful TCP-based RPC, and a web-frendly REST (esplora). The RPC is more powerful, e.g. it has notifications support. Interestingly, some operations are easier with the REST, e.g. getting the confirmation height of a transaction is not supported in the RPC API (at least in electrs). Small differences like this make the life of a programmer fun (miserable?)

This will enable a lot of cool projects in the coming years! 🚀🙏 View quoted note →

GM

great job, Blink team! @openoms View quoted note →

Hey, nostr-master @Henkypenky☢️, do you have nostr notifications on your mobile, and through which app?

Code reviews should be objective. But I found that I produce more useful comments if I start with the attitude "this guy is a moron and his contribution is bollocks". So I try to force that attitude on me even if the PR is by a friend or highly respected individual 😎 👮

You can solomine with your #bitaxe, hoping for a block reward Or you can point it to zappool.org , for daily sats for zapping Either way, you rock!!! 💪 🪓 🎃 https://zappool.org

Self-custodying your coins gives you power, but also makes bitcoin more powerful 💪

GM! Yesterday I did something useful: planted another fruit tree. Grow 🍆🍏🍑! (wut?! there is no plum emoji here??)