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I've been thinking lately about node running and specifically as it relates to mining. It's dawning on me that not just running a node is important, but getting your node 'off zero' economically is probably more important for robust resistance to various network attack vectors. There seem to be two ways your node can be economically relevant in the bitcoin ecosystem:
  1. Your node broadcasts transactions. This could be a store, an exchange or some sort of service (mixing, for example) where you / others use your node to either broadcast transaction or verify receipt of transactions. Also, I'd say running a lightning node using your node as the background service counts too...but someone could be convince me no perhaps.
  2. Your node mine's bitcoin (or tries to). This would mean you are constructing block templates using your own node, and miner(s) that are mining are sending any block solves via your node (if ever).
Now, I do run a lightning node against my bitcoin node. I use it for commerce, zapping, etc. I also am using JAM on earn mode to add mixing liquidity.
But, I've been thinking specifically about my node's economic relevance when it comes to mining. I currently run 4 machines: 2 bitaxes at about 1.5 TH/s, and 2 gen 2 futurebits at about 4 TH/s. I am running them all through DATUM using my own node, and have been doing so for about a year now. I am giving myself the goal of trying to outpace the difficulty increase in 12 month windows. So, looking back in the last 12 months, difficulty has gone from 95.67 T to 150.84 T. That is a 57.89% increase over that time frame. So, in order for my little itty bitty economic node to outpace the network difficulty over the last 12 months, I need to increase my 5.5 TH/s by over 57.89%. That would be more than 9.5 TH/s. So, in order to do so I think I will get one of these avalon nano S (https://altairtech.io/product/canaan-avalon-nano-3s/) which would add 6 TH/s to my current fleet to put in my living room just as the cold season starts, which will increase my economic node mining by 109%, far outpacing the network's difficulty growth!
Mining is not just about the network power you retain via your little node, but it's also about the power you take away from all the other nodes. Many plebs in concert can take much power from Foundry / Antpool Mafia and make their lives / profits harder. Anyways them's my thoughts
I really like the Nano 3S. It’s incredibly quiet for the amount of hash and heat you get.
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good to hear, already ordered!
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100 sats \ 4 replies \ @000w2 18h
If you used coinjoined coins to pay on-chain, they will probably cancel your order...
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they were just fine with it :)
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100 sats \ 2 replies \ @000w2 16h
They cancelled my order :(
I sent cj funds from a closed lightning channel. They said the "risk score" for the transaction was too high.
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100 sats \ 1 reply \ @BeeRye OP 16h
that's lame. I used btcpayserver option to pay them. Did you use the other crypto options ? perhaps those services overlay some compliance.
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65 sats \ 0 replies \ @optimism 14h
Doesn't matter. They most likely have a subscription to one of those taint-analysis services to protect them from their utxos being in turn rejected by exchanges and they just query for the utxo and get a "score". If it had a coinjoin in its history the service flags it as high-risk. Not because you did anything wrong but because it cannot determine whether you did anything wrong.
The underlying problem is the need for fiat conversion for these businesses because on the liability side they don't have significant bitcoin denomination. This makes them have massive exposure to the exchanges and the AML crap forced upon these.
This is why the AML / compliance regime is so bad for Bitcoin - you're automatically assumed guilty.
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55 sats \ 1 reply \ @OT 22h
I like your setup!
I'm also doing something similar with my 3 nerdaxes. I'm solo mining through Datum though.
How is Jam going? I wouldn't think that you earn much through it.
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Solo mining is just as economically relevant as long it's through the node, imo :)
JAM is hit or miss. It seems to be under constant DoS attacks or something because it can be months where it doesn't work. Lately (last month or so), it has been working and I've a few hundred sats. I set my mix amount quite low so I don't earn much, but the more liquidity the better for improving all user's privacy (and my own UTXOs).
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Consider one of those t increase your hashing power: https://ixtech.xyz/products/nerdaxe-octaxe-gamma-the-ocho How are you running your node? Something like umbrel or start9 or all by hand?
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lolz, the Ocho
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start9
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cool
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55 sats \ 1 reply \ @satgoob 19h
I don’t fully understand “off zero” - does that mean making it be above break even? The phrase sounds more like getting off a zero balance or something
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im referring to getting off of zero economic activity in the btc node one is running (if they are running one).
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55 sats \ 0 replies \ @Scoresby 21h
This is pretty cool way to think about running node. You're inspiring me to get off my lazy ass and start mining. Excellent!
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stackers have outlawed this. turn on wild west mode in your /settings to see outlawed content.