Background on the Upendo block party: I first saw the idea of a block party on bitcointalk [below] Willi on bitcointalk organized the party, a bunch of folks sent him bitcoin, and he rented a bunch of hashrate and they all solo mined together - they found several blocks back in the day. @Rigly was built to sell hashrate at auction - and so, I figured, let's try a block party auction. What happened next was interesting - To start, bids were low (way under the cost of hashrate) - As hashrate went up, so did the bids Once the party was mining, bids to join were 3x over the cost of hashrate - totally nuts. Thus the idea of bonus hashrate... Putting on my Systems Thinking Hat, I saw there was a feedback loop between bidders and block party size...the more bidders, the more hashrate, which attracted more bidders. And so, to amplify the feedback loop, the bid amount *over* the cost of hashrate pays for "bonus" hashrate - extra hashrate that increases the odds for the whole party. The idea is to leverage the FOMO Energy of block party'ers to biggify the party. This bonus hashrate feedback loop has played out in every block party since then. It's like a flywheel. Or maybe a plebwheel? The block party is a way to grab some hashrate (otherwise pointed to centralized pools) and solo mine with it, as a group. Next up is to figure out a feedback loop to incentivize people telling friends (and their friends, and their friends) about Upendo 📈 And then we may finally get enough hash to mine a block.. Happy Friday, thanks for reading. - Background:
Bitcoin Mining Lotto / Blockparty 2024
Bitcoin Mining Lotto / Blockparty 2024
 - Upendo:
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Gm nostr It's a good day to have a good day
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Block party is up and running Still a few auctions for late arrivals Join us and try to mine a block Bids start from 100 sats
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I started the Upendo block party because it should be easy to spend a few sats and try to mine a block. Why a block party? B/c mining with other people improves the odds - and you still get the outsize reward incentive of solo mining Why a block party auction? Auctions allow early miners to get in for a low bid, and as more people join, higher bids go towards buying more hashrate, improving the odds for the whole party. It's like a flywheel. How often? The block party occurs on Saturday every few weeks. Where do I sign up?
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Mining party starts at noon ET View quoted note →
Gm nostr Last auctions for block party just dropped Current bid 100 sats We start mining in under 4 hours @ noon ET
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If you care about #bitcoin and freedom money, read Bitcoin is going to get censored, and with majority hashrate at 2 pools, it can happen with a few phone calls. When this happens, you will wish you had done something to stick up for freedom money. Upendo is something. You can bid on hashrate and solo mine with us. Bids start at 100 sats. We're mining tomorrow - Saturday 4/5 It's a start towards decentralizing hashrate, and we may hash a block. The odds are 10,000+ times better when we mine together vs mining alone.
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Get in.
Rigly
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I just can't get enough studio ghibli Fat zaps to everyone who memes some pop culture, Ghibli style image Reply in thread or @ me