In my opinion, one of the biggest question is minimum withdraw amount from the pools.
Depending on your personal hashrate it could take a long time to get to the withdraw threshold of a pool. A smaller miner may never earn enough sats to actually withdraw.
Mining pools enabling lightning withdraws will be a huge breakthrough in prompting decentralization of mining.
Ocean pool has mention wanting to do this in the future and Braiins pool did a small beta trial. But at the moment I don't know of any pool that has lightning payout enabled.
I thought about Nicehash. They added lightning network lately. Miners can send sats directly to binance with low fees
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10 sats \ 3 replies \ @Wumbo 17 Mar
I think both NiceHash and Binance require KYC which is why didn't mention them.
Giving up personal information for 1000 sats seems like a bad trade.
Risk of a data breach would far out way what a small miner could earn.
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Xactly. However he already has binance account and only one ASIC won't provide lots sats
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0 sats \ 1 reply \ @Wumbo 17 Mar
If you already have an account, then I can see it making sense.
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Anyway start with one s9 ASIC can be a great educational process and as beginner I'd start with ASIC too (if I can handle noise). From the top of my experience I'd aquire sats
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Braiins pool did a small beta trial
Did? It isn't supported anymore?
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10 sats \ 0 replies \ @Wumbo 17 Mar
They closed the Beta.
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22 sats \ 1 reply \ @kepford 17 Mar
Multiple mining pools are either doing lightning trials or have it in the works. Some are doing it in public some are not. I suspect in 6 months several pools will support lightning withdrawals. Now, in this person's situation I'd say buy an S9 and connect it to a pool to learn how it works. Lincoin supports paynyms so that's a good privacy option. Their min withdrawal is low. Then once the person is ready grab some serious hash rate machines and the minimum will not be a problem. The question to me is what is low? Its all just math. Its really hard to say do this or don't do this without more information.
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One fourth from average price - the low I'm talking about
The harder to mine the lover will be rewards the closer will be lightning withdrawals, imo
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