day twelve, not dropped a day so far in the #bitpost30 challenge.
I’m feeling pretty stoked about that tbh.
i seem to remember not far back that the BSV chains kept forking, some 51% attack that luckily was headed off at the pass multiple times, shows you the amount of people that really want to make sure this chain succeeds, you gotta get behind that.
my question is this pool legit? who are the organisers of the project, could it be the same people who were attempting to take over the chain, is that a possibility of any big pool that get’s involved with mining blocks for a blockchain? if they have major consensus does that mean they could push a code change and it get accepted because of the amount of pool size and hash power?
how do you trust as a user a new pool having good intentions? i know the whole code is law thing but when i read. ..
A 51% attack occurs when one or more miners takes control of more than 50% of a network’s mining power, computing power or hashrate. If a 51 percent attack is successful, the miners responsible essentially control the network and certain transactions that occur within it
i’ve kinda seen a consensus attack already on steam, a social blockchain i used for a while before all that happened, it was crazy how quickly things happened and how they got their own miners in to take over the top twenty positions and how the community came together to get back existing miners back in — someone should make a film about it, it was a wild tense weeks during and after.
what things should we be doing to cross reference information about owners and the teams behind settings these things up, how do you do trust in a trustless digital society where the mantra is code is law — surely then, it’s the law of the biggest enforcement group that then makes the law and can, by sheer numbers, effect the code base — i’d love for someone to properly educate me on that.
feel free to point me at videos and links, i’m @philcampbell on twitter
i’ve put together a list of links for today of how i stepped through and found some hashing power (you can buy hashing power from nicehash and how to pointed to the gorilla pool.
they have a great twitter with advice how to set things up, you’ll need some SHA256 hashing power bought from a dedicated company providing a market place for people providing hashing power from around the world.
think of it as people doing mining on their own home/business machines and then offering that up for sale, all that happens is that you purchase time of their machine doing all the number crunching and point that to this new pool, the more people that provide “hashing” power the stronger the blockchain get’s – obviously, this is decentralized as people can be mining this from anywhere, i use one that’s geographically near to me in the EU personally.
. . .i’ll try and potentially make a video about this today, going through the steps, it’s relatively easy to setup, i’ll be adding hash power once i’ve done my due diligence on who’s mainly behind the pool! (i guess sometimes you’d never know) because these days, using a relevant cultural crypto term like “apeing in” and a slick social media marketing are cool but i still want to know a little more about the founding team.
i don’t want to be adding to more drama and we find out that this pool is actually attackers building up their own pool for some bigger take over effort! it’s not that right? :)
staking & returns in general
I personally feel like this is the future for me as a digital creative working the web, staking in different blockchains that i use or want to see succeed. The payout is nice but it’s not going to keep me alive and pay my bills but it’s a nice little return to feel invested in the future outcome of a project and it’s technology.
I had to complete kyc to purchase hashing power, that might be something you don’t want to do or cannot do. if you can source the gpu hardware (best of luck with that) and run some mining rigs yourself then you can simply download the free software and point your hashing power at the pool.
mine.gorillapool.io port 3334 (i think you have to use this one over 3333 because of the pool difficulty right now in terms of joining)
If you are going to use more than one gpu at once and go all in your probably best to look into the NiceHash OS which uses linux and is often used for dedicated server farms — just be aware that these units running full tilt 24/7 is electricity expensive and a fire risk, you need to make sure you have plans and systems in place — in other words, don’t burn your house down!
my personal idea for residual income from investing in a blockchain would be to find some chains that offer a good yearly APR that you trust to be around for a while, $100k seems to be a good figure to give you a good return, cover the basics for the rest of the year.
(create a pool, buy some hashing power and send it to the pool!)
https://www.nicehash.com/my/marketplace/SHA256 (grab some sha256 hashing power)
(this is where your workers, payouts and such like live)
in closing, as a side note.. .
. . have you noticed how synthetic food seems after the pandemic major distribution chaos of a world at a full stop. i had some ham and cheese earlier and it felt like i was eating it through a simulation. maybe we are the real life sims after all, is this all a projection with credits that are running out or what!
peace and love,
dm X humble