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I love gambling. I used to buy Eurojackpot tickets. 2 rows per week = 20 Euros/month. Chance of winning Jackpot if you play for an entire year? 0.000074%.
So, I bought an Avalon Nano S3 from Ali Exp. It mines at around 5.7 TH/s. If I leave it on for an entire year, the chances of mining a block, alone, is 0.03% (approx. 3200 years to "expect" a block). But, solomining pays, like a coinflip, no attention to history. Each submitted share is a new lottery ticket to win 3.125 BTC. It draws the same amount of power as 2 regular lightbulbs, before we got LEDs.
Here comes the fun & educational part:
I had an unused Raspberry Pi. I bought a cheap 7-inch display from, Ali Exp. and put it to work. With a little help from Mr. GPT, and a few beers later, I put together Python code to display a few fun stats, pulling data from Avalon, CK Pool, and Memspace (see link to pic).
I also set up a bot in Telegram and coded the Raspberry app to send me a telegram everytime anyone solo mines a block. It will also send me a telegram when I reach a new BestEver share, getting a near miss, the miner goes down (and when it comes up again), or if I should be so lucky to mine a block myself, however unlikely.
Nevertheless, it's exciting and fun. I know, little things pleases little minds, right?
So, I bought an Avalon Nano S3 from Ali Exp. It mines at around 5.7 TH/s. If I leave it on for an entire year, the chances of mining a block, alone, is 0.03% (approx. 3200 years to "expect" a block). But, solomining pays, like a coinflip, no attention to history. Each submitted share is a new lottery ticket to win 3.125 BTC. It draws the same amount of power as 2 regular lightbulbs, before we got LEDs.
Here comes the fun & educational part:
I had an unused Raspberry Pi. I bought a cheap 7-inch display from, Ali Exp. and put it to work. With a little help from Mr. GPT, and a few beers later, I put together Python code to display a few fun stats, pulling data from Avalon, CK Pool, and Memspace (see link to pic).
I also set up a bot in Telegram and coded the Raspberry app to send me a telegram everytime anyone solo mines a block. It will also send me a telegram when I reach a new BestEver share, getting a near miss, the miner goes down (and when it comes up again), or if I should be so lucky to mine a block myself, however unlikely.
Nevertheless, it's exciting and fun. I know, little things pleases little minds, right?
Love to see it.
This is where bitcoin is really doing good things.
Mining is way better odds than the state lottery, plus you get an education in mining hardware and all these other things. It's an adventure!
Reality is in this current time and for foreseeable future if you store a meaningful amount of wealth in bitcoin it’s better off with multiple custodians that self custody.
People buying bitcoin ETF aren't looking to use it as money and neither are most Bitcoiners. Bitcoin smiles upon those who help themselves. Decentralization is faster in practice... if you're really trying to move large amounts of money, then you can remove the process of vetting trusted third parties with Bitcoin, thereby saving loads of time, days, weeks, even. Wild isn't it? How they will adopt crazy ideas about Bitcoin that are blatantly not how it functions because they wish it functioned like that to make the cool stuff they want to do easier. I suspect a lot of this comes from traditional development environment norms where you can dictate the software users are using. One aspect to the trilemma is that we can build the new financial system on top of Bitcoin. On chain does not necessarily need to scale to achieve that. The LN shows us that we can achieve speed and security at the cost of some centralization and that this is an acceptable trade-off. The base layer needs to be decentralized and secure.
People buying bitcoin ETF aren't looking to use it as money and neither are most Bitcoiners. Bitcoin smiles upon those who help themselves. Decentralization is faster in practice... if you're really trying to move large amounts of money, then you can remove the process of vetting trusted third parties with Bitcoin, thereby saving loads of time, days, weeks, even. Wild isn't it? How they will adopt crazy ideas about Bitcoin that are blatantly not how it functions because they wish it functioned like that to make the cool stuff they want to do easier. I suspect a lot of this comes from traditional development environment norms where you can dictate the software users are using. One aspect to the trilemma is that we can build the new financial system on top of Bitcoin. On chain does not necessarily need to scale to achieve that. The LN shows us that we can achieve speed and security at the cost of some centralization and that this is an acceptable trade-off. The base layer needs to be decentralized and secure.
They want everything centralized..And the more opportunities they see, the better for them.
Unfortunately, if we want BTC to flourish, we will need them to allow it to become mainstream and used, otherwise, there will be loopholes, but no real usage of BTC as an alternative.
"They" may prefer to see bitcoin centralized, however decentralization is necessary for bitcoin to be used as medium-of-exchange.
It's a balance of dependencies. Store-of-value is a necessary pre-requisite for medium-of-exchange, and likewise store-of-value depends on usage as medium-of-exchange.
Why is this?
b/c value isn’t created in a vacuum:
- If bitcoin is only a medium of exchange but nobody wants to hold it long term, then it won’t store value—people will only pass it on and dump it (Monero here as an example)
- On the other hand, if it’s only treated as a store-of-value without meaningful usage in exchange, then its value is fragile, because markets are thin and demand depends on pure speculation
The two reinforce each other. Store of value is naturally centralizing imo, but decentralization is what gives bitcoin value as medium of exchange.
But only bitcoin remains your loyal assistant in any difficult moment (In any point of the world. This is a unique phenomenon, which has no analogues). Even after many years. Especially, after many years. Only bitcoin remains a real "loyal" friend. 
As ironic as it may sound, but that's exactly how it turns out. All you can rely on is bitcoin. Not a bank account, not a pension, not your wife or children. Just don't forget the seed phrase, because it can be your "lifeline" at the last moment, when there is no help left to come from.
Your wife can disappoint and betray you when you need her the most, your children can choose their new family over you when you might need them the most, your friends might get tired of you and move on if they consider you to be a problem to them, your bank can decide not to give you your money when you want to make use of it as they can come up with any excuse, but as long as you store your bitcoin in a self custody wallet and have access to your private key you don’t have anything to worry about, with internet access you can save yourself from any financial situation which the money you have their can solve. As ironic as it may sound, but that's exactly how it turns out. All you can rely on is bitcoin. Not a bank account, not a pension, not your wife or children. Just don't forget the seed phrase, because it can be your "lifeline" at the last moment, when there is no help left to come from. In this case, it was he who saved himself, not bitcoin. Because if he doesn't hold bitcoins but instead has some money in the bank or any valuable asset, that could save him too.
After all: bitcoin is just a financial instrument and we can only own it if we have money, Bitcoin is not free. Meanwhile, parents, wife, children or friends will be ready to help even when we are in dire straits. We can't assume that everyone in the world is as bad as this guy's relatives , this is just a rare case.
I think "all you can rely on is bitcoin" is a step too far.
You have your self, your intelligence, your talents. Remember Matthew 6:21, "where your treasure is, there your heart will be also", and prioritize accordingly. There will be rough patches, sure, but bitcoin is simply a tool.
Re: [∞ YH] US/EU/AU solo.ckpool.org 2% fee solo mining 305 blocks solved!
Thinking aloud, we could do a 2:3 multisig for the mining escrow with CK, Willi, or others on the forum here..
A multisig is certainly the only way where distribution is cryptographically enforced unless CK is willing to alter the pool code so that both addresses (yours and ours) are included in the coinbase and the rewards are distributed based on work.
[-]
Another member I would recommend to be part of the multisig would be philipma1957.
BTW, Willi hasn't visited the thread for so long, maybe reach out to him via PM?
I'm still the same Willi and I'm still active. I'm just writing a little less in this post, since I'm no longer hosting block parties.
Two reasons that drove me to do this are a) Nicehash wanted to know too much and b) the legal situation in Germany.
I don't want to participate in it at the moment (no time). If I do, I'll organize block parties myself again. But first I need to make time for that and check the legal and tax situation.
But I wish you luck and to everyone who takes part, I'll keep my fingers crossed that it's not a scam.
Best regards,
Willi
[-]
Thanks Willi and philipma1957, totally understand.
Who else is a long-time forum member here who is up for joining a 2:3 multisig escrow with us for our Block Parties?
We can do a call and you can verify Rigly is for real.
Also we can do a % fee for your service.
Congrats to the most recent block winner on CK solo!
It always seems to find a block days after our Block Party...
Thanks,
Evan
Re: [∞ YH] US/EU/AU solo.ckpool.org 2% fee solo mining 304 blocks solved!
We run the party every 2 weeks and post a party recap to Nostr - how much hashrate, best difficulty reached, number of party miners etc.
I'll see about getting a running history up on the site, that's a good idea.
We don't yet have a history of successfully mined blocks. I get that it's a leap of trust. That's why I made the minimum buy in 1 TH/s for 15 sats.
That's a low bar for entry!
And over time, as more people join, the odds get better and we'll soon have a history of mined blocks with payouts.
I'll see about getting a running history up on the site, that's a good idea.
We don't yet have a history of successfully mined blocks. I get that it's a leap of trust. That's why I made the minimum buy in 1 TH/s for 15 sats.
That's a low bar for entry!
And over time, as more people join, the odds get better and we'll soon have a history of mined blocks with payouts.
Evan, thanks for your feedback!
I think what @philipma1957 said is somewhat true. Being new or little-known can make it harder to gain the trust to attract more participants or participants with higher hashrate.
I don't know if there is another way to create parties that generates more trust and helps to popularize them. Would it be feasible to return a small percentage of the amount paid by participants at the end of the party? This might boost trust. Of course, it doesn't mean that when the bloco wins, it will do this, but it might convey greater credibility, I don't know. What do you think @philipma1957?
But, really, the statistics from the sites - even if no party has won a bloco so far - would be very interesting and useful.
Have you ever considered opening a thread here on the forum about the parties? It could be really interesting and create engagement with the BitcoinTalk community.
Interesting, yes I do see your point.
Thinking aloud, we could do a 2:3 multisig for the mining escrow with CK, Willi, or others on the forum here..
Then when we do hit a block, it takes 2 parties to sign out the TX to all the payout addresses..
Maybe that's doable?
Have any block parties been done on BitcoinTalk using this approach?
In the meantime, I'll get some historic info on upendo.xyz and start an open thread. That's a great idea.
Re: [∞ YH] US/EU/AU solo.ckpool.org 2% fee solo mining 304 blocks solved!
⭐ Merited by joker_josue (1)
Is there any history of the results of these "party"?
They seem legit, I did talk to the founder of that website, and she does seem legit. I did suggest to them to reach out to someone trusted here to do some sort of escrow so that forum members and they can collaborate in block parties. I think CK is a good option (not sure if he's willing to do that but he's trusted by both parties), Willi is a perfect candidate for that (will be hard for them to trust him since they don't know much about the forum)
[--]
Yes, the site seems legitimate to me, I don't question that.
I think it would be interesting to have a history of how previous partys were, how many participants, how much hash, whether they won any blocks or not. Knowing this could provide greater motivation for more investment or participants.
Hey, Evan here -- I'm one of the founders of Rigly, we run the Upendo block party.
Totally up for a collab with CK and/or Willi. It was Willi's parties that inspired Upendo.
Please hit me up in DM or hello@rigly.io.
We run the party every 2 weeks and post a party recap to Nostr - how much hashrate, best difficulty reached, number of party miners etc.
I'll see about getting a running history up on the site, that's a good idea.
We don't yet have a history of successfully mined blocks. I get that it's a leap of trust. That's why I made the minimum buy in 1 TH/s for 15 sats.
That's a low bar for entry!
And over time, as more people join, the odds get better and we'll soon have a history of mined blocks with payouts.
We mine on CK Pool for max visibility, so it's easy to verify the hash is real: https://solostats.ckpool.org/users/3Gk1GfP3bHA6M2ZzK5mHdqbWN1iNsqAenH
Next party is in 2 days, check us out: https://upendo.xyz aka https://upendo.rigly.io
Still no clear information about what this BTC movement is all about.
For all I know it could be an OTC deal and now changing hand or something else.
We'll let the expert blockchain tracker figure out the truth but hopefully it won't just get dumped to the market because it's not some measly amount.
For all I know it could be an OTC deal and now changing hand or something else.
We'll let the expert blockchain tracker figure out the truth but hopefully it won't just get dumped to the market because it's not some measly amount.
I'll call it:
Saylor doing a private OTC buy.
Maybe we see this in an upcoming Microstrategy press release..
Re: keep Your Money in Bitcoin Not in Fiat. You Loss More In Fiat with Levies.
My banks charge zero monthly fees, zero deposit fees, and zero cash out fees too. They offer interest 1% APY.
Bitcoin, whenever I made transfer, I need to pay mining fees.
It's not about my intention to grow my money in banks, but I want to show if banks are better in terms of daily transactions.
Bitcoin won in the long run, but it's costly if I use for daily transactions.
How about cross border transaction? I mean wire transfer. Bitcoin is cheaper if it is wire transfer. Bitcoin, whenever I made transfer, I need to pay mining fees.
It's not about my intention to grow my money in banks, but I want to show if banks are better in terms of daily transactions.
Bitcoin won in the long run, but it's costly if I use for daily transactions.
If you want to have cheaper fee, you can use bitcoin lightning network instead. Or you can go for the liquid network or the altcoin pegged with bitcoin price but which I can not recommend.
Yeah the wire transfer analogy makes more sense for on-chain bitcoin.
I use Lightning on Nostr pretty frequently and its awesome, you can send a few sats to people all over the world, and it works just fine 95%+ of the time.
IMO this is the killer use case for bitcoin, micropayments, tipping etc ... could call it "social sats".
Curious to see what the average person thinks when they see a game uses provably fair algorithms.
I think the first line, "can't be rigged" is the customary definition, but 'provable' to me means there is an algorithm at the core of the game that can be verified, not trusted.
In mining, that means SHA-256 can verify the hash, and it can easily be seen that it is over the required difficulty number.
Aside from mining, I think Satoshi Dice was an early (maybe the first?) example of provable fairness in bitcoin gaming.
I'm just asking this question as I look back years ago when I was in the height of my gambling addiction. So perhaps I might also ask the community about it and see how it goes if we are the same or maybe those who might fall into addiction might have experience it already.
"What’s your worst loss, and how did you cope afterward? "
As for me, when I have one of those days that I have a big loss, it's more on a mental trauma to me. I can't function as normal, I went into depression mode, can't get out of my bed and go to work and will just call my boss that I'm sick. And this might take to 3 days or even a whole week. And of course, the physical effect as well, I can't eat and so I lose a lot of weight.
How about you guys? Did you experience this when you gamble a lot?
"What’s your worst loss, and how did you cope afterward? "
As for me, when I have one of those days that I have a big loss, it's more on a mental trauma to me. I can't function as normal, I went into depression mode, can't get out of my bed and go to work and will just call my boss that I'm sick. And this might take to 3 days or even a whole week. And of course, the physical effect as well, I can't eat and so I lose a lot of weight.
How about you guys? Did you experience this when you gamble a lot?
My daughter was recently scammed in a trade in an online game (Roblox), where the counterparty failed to deliver... and she was devastated. It was a teachable moment, but I fear its changed her outlook on humanity and trusting others. It was enjoyable to teach her the concept of a trustless escrow though.
I'm just asking this question as I look back years ago when I was in the height of my gambling addiction. So perhaps I might also ask the community about it and see how it goes if we are the same or maybe those who might fall into addiction might have experience it already.
"What’s your worst loss, and how did you cope afterward? "
As for me, when I have one of those days that I have a big loss, it's more on a mental trauma to me. I can't function as normal, I went into depression mode, can't get out of my bed and go to work and will just call my boss that I'm sick. And this might take to 3 days or even a whole week. And of course, the physical effect as well, I can't eat and so I lose a lot of weight.
How about you guys? Did you experience this when you gamble a lot?
"What’s your worst loss, and how did you cope afterward? "
As for me, when I have one of those days that I have a big loss, it's more on a mental trauma to me. I can't function as normal, I went into depression mode, can't get out of my bed and go to work and will just call my boss that I'm sick. And this might take to 3 days or even a whole week. And of course, the physical effect as well, I can't eat and so I lose a lot of weight.
How about you guys? Did you experience this when you gamble a lot?
Not directly gambling, but I took a chance on buying a S19 mining rig with a company in Texas (Bolt) and got rugged.
Did my research, and it still happened.
Not a new story, and trusting a miner hosting company often ends in tears.
Re: [∞ YH] solo.ckpool.org 2% fee solo mining 299 blocks solved!
Someone's currently doing a blockparty and dumping 6EH on the pool.
Wow, i have never seen such a hashrate on a pool before.I hope this will not cause problems with the pool's performance.
Unfortunately, the user with this hashrate made himself private and it is impossible to monitor his progress.
I've been told this is the block party responsible:
https://upendo.rigly.io/pages/dashboard
Just found this post -
This was my block party, and we're at it again today - starting with ~300 PH/s at 12p Eastern time
Join and help us get to EH/s range again
https://upendo.rigly.io
The funny thing is that many gamblers blamed everything when they made mistakes. They always find an excuse for their wrongdoing, and the sad thing is, they even include religion. Addiction is not completely related to any belief but rather is a personal choice. Indeed, it was more than that but some kind of mental problem.
I think the saying is right: a gambler never makes mistakes once, but several times. That is why we become addicted due to our wrong approaches and behavior. Which is why we don't have a reason to blame others besides ourselves.
I think the saying is right: a gambler never makes mistakes once, but several times. That is why we become addicted due to our wrong approaches and behavior. Which is why we don't have a reason to blame others besides ourselves.
Okay but like almost everyone talking about this issue (gambling addiction) also promotes online gambling in their signatures
Moving on..
I think the spiritual, call it religious association with gambling as sinful behavior is from it (gambling) being seen as a personal vice: something that stems from personal choice but is reinforced through the Devil's hand in our world, as it were. Compare it to other vices (drugs, smoking, too much drinking etc) and you'll find similar religious ties to sinful behavior.
Won't SOLANA be the perfect example for this? Solana lost most of its value years ago but now we see it being considered as one of the biggest cryptocurrencies last year extending to this year. It is possible yes but not all the time this happens. You will be lucky to have kept holding on to a coin that has long ago declined.
Have to agree re: Solana, since many other projects are building on top of it now.
In an adjacent category, Tether escaping from all FUD to be in the top 20 list of UST holders is ... impressive.
Large mining companies do not really dispose their old ASIC's rather they sell them through advertising on telegram channels and other platforms.
To this point, several miners I've talked with keep their old gear on hand, and then sell it during peak mining cycle.
For example, during the big hashprice jump after China went offline a few years back, many miners made a mint on selling old S9's.
Sometimes too, it might not be that the children doesn't want to take care of their parents but the question is, are they themselves financially stable enough to be able to extend a helping hand to their parents or anyone else? Maybe the son doesn't have enough to sustain himself before thinking of the dad or perhaps the wife have turned them against him. Parents have needs to also plan for their own future after retirement or in case of any bad situation, so that they will still have something to fall back at.
If you think that only when you are financially stable or rich, you will think about repaying your parents. I bet you will never repay your parents because you can't be sure when you will be rich and whether your parents will wait for you until then. To me, personal finances are not a reason or barrier that prevents us from showing filial piety to our parents. Because parents don't need you to give them a lot of money, what they need is for you to be there for them no matter what happens.
Through this story, we are reminded that we should always have a backup plan for ourselves instead of thinking that we can rely on our loved ones. But I will not lose faith or doubt my loved ones because of this story. The world will have this person and that person and the man in this story is just the unlucky one.
In my village and those 3 people are my close friends. Their father is sick and bedridden but his wife and 3 children have taken care of him for more than 15 years without a single complaint. They were willing to sacrifice their youth to take care of their sick father, which shows that not everyone is as cruel and heartless as the wife and children in OP's story.
So like - the debt to parents can never be repaid. Bitcoin doesn’t replace the human obligation to care for one another, especially for our parents. It's true that many in the world struggle just to support themselves. Yet I’ve seen people with very little still do everything they can to care for their parents —sometimes just with time, words, or just like being there. That’s more meaningful than money.
Today is Pizza Day, and BTC made a new ATH. I wonder how he would be feeling right now for giving out 10,000 BTC for just two Pizzas. LOL, I wouldn't be able to leave with myself if I were the one, and to my greatest surprise, he says he doesn't regret it.
How would you feel if you were the one who gave out 10,000 BTC for 2 boxes of pizza?
Both of these are the best idea today and they are also related to each other which is why it is very happy to see them both and their meeting like this indicate luck and a big investment. If he remember that I made this mistake then he must still be feel wrong today because he made a very big mistake and if we look he did it in a good way at that time because he did not know that the price of BTC would go so high. That is because you did not make this mistake and if you had who know what you would have done.How would you feel if you were the one who gave out 10,000 BTC for 2 boxes of pizza?
If I were in his place I would think every day about how to become rich now because why regret what has passed. Rather I should work hard from now on make myself strong and achieve success by earn BTC.
It's like from Fight Club:
The things you own, they end up owning you.
The man made his choice and entered history.
-SNIP-
Satoshi is most likely dead.
Satoshi is most likely dead.
Or never existed in the first place.
Or we are all Satoshi.
Per the original post here, all of us can "be Satoshi" and mine to those addresses on CK Pool.
In fact, it would be the most egalitarian thing to do, as any coins mined would be effectively a donation to all of us
I don't understand how they can waste money like that. Wouldn't it have been the same if they get to pay $1K instead of $100K? I don't see the logic of it, unless they want to advertise with me and I can see that they have plenty of money but the advertising has been a bit expensive.
Although I see in the tweet they say they have “teamed up” with Gemini. I don't know, it still seems like too much money to me.
Although I see in the tweet they say they have “teamed up” with Gemini. I don't know, it still seems like too much money to me.
It's not waste.
It's marketing.
We and others are talking about it, increasing Gemini awareness in the world.
There is one controversial Blockseer Bitcoin Mining Pool that is started to censor transactions from blacklisted wallets.
This pool also requires all miners to pass KYC procedure!
Blockseer is first North America bitcoin mining pool that will meet all US Government compliance.
They are located in San Francisco and have parent company DMG located in Canada.
This is alert for everyone, and we should not allow this to spill over on other pools.
Website and info:
https://dmgblockchain.com/
https://stockhouse.com/news/press-releases/2020/10/29/dmg-s-subsidiary-blockseer-launches-bitcoin-mining-pool-focused-on-good
One day, I feel this event will be seen as a canary in the coal mine.
Today most hashrate goes to Foundry or Antpool (or its vassal pools), backed by financial bindings to those pools in the form of loan covenants and other contract instruments. The common refrain of "The miner can just switch if there's a censorship attempt" no longer holds water, as who is the miner here? It isn't a cypherpunk with some rigs in their garage... Miners are business owners, with skin in the game and financial obligations, and they can't break contracts and stay in business.
Bitcoin has proven it is able to overcome real challenges when they become clear and present dangers - eg blocksize war - and so maybe it will require a direct threat and real censorship to lead to change in pool distribution.
When it does happen, we will look back and see the signs leading up to it.