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29 sats \ 1 reply \ @ek 10 Sep \ on: Prepay for 14 days of Ocean hashrate that pays out straight to your own address? bitcoin_Mining

This sounds interesting! Some questions:

My idea is that you pay a fixed price up front (thinking ~$1,000 in BTC for electricity) for a defined amount of hashrate for a mining period, then Ocean pays the coinbase rewards directly to your address.
  1. How do I know you are actually running miners with my address in the block template and not renting them out to multiple customers?
  2. How can I verify that previous customers have been paid correctly using Ocean's dashboard?

I assume I don't know enough about Ocean to already know the answers to these questions.

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60 sats \ 0 replies \ @Yifp9SMue5pSx8XdGYRl OP 10 Sep
  1. How do I know you are actually running miners with my address in the block template?

All your mining details can be found at: https://www.ocean.xyz/stats/<your_address>

  1. How can I verify that previous customers have been paid correctly with Ocean's dashboard?

You can verify that the source address of the on-chain payment matches Ocean's open source mining dashboard. That should cover the duration of the difficulty adjustment period and it reaches the expected hashrate & uptime.

I'm thinking that eventually you could go to this-idea.com/<payment-tx-hash> and be redirect to or shown the Ocean dashboard, mempool address and digital signature approving the mining.

Open to hearing other ways to boost transparency

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