Quote from: congatoiloi on December 12, 2023, 09:25:28 PM

lol, the development team holds almost all the coins and hashrate, no mining pool will take a long time to surpass hashrate the development team, this is fake "no premin" Grin

?

The dev team is mining about 10% of the blocks now. Everyday the community is increasing the hash power. Go to the Telegram chat and see for yourself, others are posting their mined blocks, others stay quiet about it.

Of course there is NO mining pool, did you read the tile of this thread? Mining pools cannot mine this coin, impossible. Only the user can sign a block to get the reward and only the user has the private keys to do so. The mining pool will need to turn into a 'Transaction Exchange'. They will sell txs to miners so miners can mine more with more CPUs. This is still decentralized because it is the user's miners that are doing the work/validation/block submissions.

There are over 500 nodes running BitcoinPoW now. I'm hearing that users with 1000 servers are going to start turning on their machines to start mining. Keep in mind that you need both CPU/Transaction pairs to mine. You need to feed the CPU enough transactions so that it can do optimal PoW. Spinning up 1000 servers with low amount of transactions will not mine much.

The competition to get transactions is fierce and the mem pool is constantly flooded. This is by design. This creates a fair market where both users and miners compete to get access to the blockchain. If you really want to send coin or get txs to mine, you might have to bump of your fee to get priority.

There is a reason the block size only allows so many transactions at a time. It is part of the security model of Bitcoin. Keeping the size small allows regular people like us to run our nodes at home and take part in mining. Now that the blocks are filled up, we all need to start competing to be added to the chain. If your blocks are never getting confirmed, it is time to start paying more transaction fees to get higher priority. PoW is always a competition. If you want to mine more with more CPU power, you need to pay more to get more transactions. This is similar to how BTC works, if you want to mine more, you need to pay more to buy ASICs and solar panels/electricity.

Come join the Telegram group to learn how to mine.

https://t.me/BitcoinPoWPoT