Miners be like "What Halving?" \ stacker news ~Ordinals_Inscriptions

Not saying Ocean are right to leave money on the table, but apparently most miners attached to big pools won't see a big jump in earnings. My understanding is the pools themselves are likely to keep the lion share of the high fees.

Ocean pay miners based off the fees they actually take in. Their argument is even with them not processing certain transactions, and so earning less fees, actual miners still earn more than they would if mining with a larger pool.

101 sats \ 0 replies \ @nullama 20 Apr

It's by design.

Phase out block reward, transaction fees step in.

Satoshi designed the system to behave exactly like it is doing now, 15 years later. And he only had one chance to do this.

0 sats \ 0 replies \ @DesertDave 20 Apr

Halving?

0 sats \ 5 replies \ @watchmancbiz 20 Apr

Just curious, I'm still learning about some of this. I was told that the value of each BTC would decrease, with the halvening. Is this true? If so,wouldn't this make mining less profitable? honest question 🤔

10 sats \ 4 replies \ @netstatic 20 Apr freebie

The value of Bitcoin is subjective and no one can truly predict what will happen. The halving is an objective consensus change by Bitcoin Core nodes to reduce the block reward granted in each block by half.

The idea is that for miners to pay the electricity costs needed to maintain their hashrate, this would require an increase in the fee for every transaction or an increase in the value of Bitcoin. Alternatively the hashrate could drop until the miners reach an equilibrium with the fee environment and fiat cost (or whatever their energy prices are denominated in) of their Bitcoin.

The outcome of this halving cycle is usually delayed but some factors may delay it more, like the new token protocol released on Bitcoin that has spiked feerates to unexpected highs. Other never-before-seen factors will probably speed up the cycle, like the large OTC buys from miners that silently dwindle consumer supply. Basically we’re in uncharted territory but most Bitcoiners see the fiat price increasing after all of this.

10 sats \ 3 replies \ @watchmancbiz 21 Apr

Uncharted territory? This happens like every 4 years or something like that!

15 sats \ 1 reply \ @netstatic 21 Apr

The whole spiel before that explains the uncharted territory, i.e. the activity generated by the rune protocol and the OTC institutional buys for ETFs. As @lopp noted on X/Twitter: "Bitcoin is on a record 100 block streak of transaction fees exceeding the block subsidy."

5 sats \ 0 replies \ @Bell_curve 21 Apr

I posted that tweet in a miner telegram group

0 sats \ 0 replies \ @watchmancbiz 21 Apr

and if Miners aren't paid as much. well, it's pretty straight forward to me. It doesn't seem as if it will be as profitable.

0 sats \ 0 replies \ @chungkingexpress 20 Apr

Seems the real Bitcoin halving does not happen until those fees go right down. I look forward to the analysis over the coming days as to what mining pools are passing the fees on to the workers and which are being greedy.

0 sats \ 5 replies \ @ZezzebbulTheMysterious 20 Apr

Do you see what this shitcoinery has wrought? An utter destruction of value.

The only silver lining is the redistribution of wealth from newer Bitcoin holders to long term miners.

Nobody using the Bitcoin protocol is celebrating right now. This spam is severely limiting the usefulness of the satoshi.

10 sats \ 3 replies \ @lloyddunne OP 20 Apr

Value is subjective.

You could use lightning? LN coming under pressure because of high fees is good for Bitcoin.

1011 sats \ 2 replies \ @ZezzebbulTheMysterious 20 Apr

I tried to use lightning today. I had to transfers my payments through to SN THEN to WoS in order to pay for a tshirt from good guy Jack Mallers. (insufficient global liquidity), My payments couldn't find a route because IT IS TOO EXPENSIVE TO OPEN NEW CHANNELS. Do you not understand this? This stupid bullshit has to stop soon. Its fucking shit up in way that you children cannot understand. This site runs on lightning. This site could not make a $20 payment today to jacks payment gateway. I had to manually route it via the largest psuedobank, WoS.

This bullshit is fucking up real value in places where strike is actually needed. I have a friend in Africa right now trying to Orange Pill people about Bitcoin, and you stupid motherfuckers are penny stock bidding on fucking strings for hundreds of dollars a pop. Do you know how fucking far those sats could go in a small community running on lighting?

Get a life, get a clue and fuck all spammers.

0 sats \ 0 replies \ @south_korea_ln 20 Apr

Could not have said it better.

0 sats \ 0 replies \ @lloyddunne OP 20 Apr

sounds broken.

just hodl bro. low time preference

0 sats \ 0 replies \ @BitcoinIsTheFuture 20 Apr

Um frustrating