I think what has been missing in #bitcoin is 2 things
- Simple way to mine
- Incentive to do it
The bitaxe and
address #1
I’m just now seeing the incentive for #2
The incentive for mining on an individual level is not the block subsidy…
It’s the fact that, if everyone can acquire hashrate and make the same choice (band together, mine a block) then the incentive is to be the first to make that choice - and profit
What we’re learning in the block party is how to coordinate the same choice - where, much like the first buyers of bitcoin, the early miners in a block party are rewarded - if they can pull in enough people to mine the block in time!
It’s an idea in progress..
Come learn with me - I’m coordinating the same choice and trying to mine a few sats.
upendo.rigly.io