19 September 2023
Pleb Miner Monthly EP10 Growing Centralisation of the Bitcoin Mining Sector.
Pleb Miner Monthly
Episode 10
Show Notes
1 year of doing Pleb Miner Content on BitBuyBit.
We are honored to be able to provide Pleb Miner content and are doubly honored to be able to interact with all of you on Telegram, Twitter and Fountain
Thank You for all the contributions of content, encouragement, sponsorships, boosts, and friendships!
Intro Music: Faith No More – We Care a Lot
Statistics brought to you by Lincoin Mining
Schedule a call with Medi so you can hear him say “What do you do, so I may tell you what we can do for you?”
Statistics Summer Summary
Hashrate - June 21 our 70 MA was 367 EH – We are now 394 EH a 7.3% increase
Difficulty - June 21 Difficulty was 52.35 EH – We are now 54.15 a 3.4 % increase
BTC Price - June 21 BTC Price was $29,893 – Its now $26,192
Hash Value - Hash Value on June 21 was 24,850 – and is now 24,040 3.25% decrease
Block 807,057, 20.013 BTC in transaction fees!!!
Everybody Wang-Chung tonight, everybody have fun tonight
Bitesize Bitcoin (Mine your Mind) Brought to you by FixRigs
Take the Quiz!!! And share your results!
Most of the answers are contained in our Bitesize Bitcoin Segments
If you’re stuck on one, ask Jon and I’ll direct you to the episode
Highest Score Gets a Boty Hat!
Statistics
- What is Hashrate?
- What is the incorrect name given to the HalFinning?
- Explain the HalFinning.
- What is difficulty and why is it important?
- Name two common payout schemes used by mining pools?
Basic Electricity
- What is Voltage?-
- What is Current?
- What is Power?
- Explain Joules Law.
- Convert 3500 watts at 240 volts to amps
Cost to Mine
- What is a Watt/hour ?
- Calculate the cost to mine a 3500 watt Bitcoin Mining Server over a 24 hr period at
- $.10/KW/hr
- Now do the UK at 30p/KW/hr
- What is Hash Value
- What is Hash Price
- If current BTC price is $26K and our 3500 watt machine at 110TH get us 25, 773 sats per day, are we profitable at .10 cents KW/hr
Block Creation and Transactions
- What are the components of a candidate Bitcoin block headerTransaction Data
- The transaction data within a Bitcoin block contain information about each transaction included in the block. Name some of the key characteristics of the transaction data
Bitcoin Mining Server
- Name the parts of a Bitcoin Mining Server also knows as an ASIC.
BIP300
- BIP 300, also known as drivechains is a Bitcoin Improvement Proposal that will allow sidechains of separate blockchains on top of Bitcoin. Max, this is the final Mine your Mind question. Are drivechains…
- Gay
- Lame
- Retarded
- Regarded
Pleb Miner Monthly ACTION NEWS!!!
First up Riot receives $31 million in energy credits
A short Op-Ed from an Anon Pleb.
Growing Centralization of the Bitcoin Mining Sector
Public corporations have rapidly dominated the mining sector, primarily through aggressive mergers and acquisitions. By establishing expansive industrial mining infrastructure and consuming incredible amounts of electricity, these entities have positioned themselves at the forefront of the industry. Their dominance is further solidified by their ability to secure funding via traditional Wall Street mechanisms, such as shareholder dilution and convertible notes. This financial leverage affords them several advantages, including procuring large machine orders at prices below market rates, benefiting from reduced transmission and distribution costs, thanks to high-voltage infrastructure, implementing power procurement strategies tailored to bitcoin mining. Such centralization can sideline smaller players, often referred to colloquially as the "plebs", pushing them to the periphery of the industry. Bitcoin is meant to be a P2P decentralized network. Centralization of mining is a justified concern.
Bassload Update Turn Down for What!?
Nico Smid Immersion Article on Ungovernable Misfits
The Bugle Bugle - Paul Sztorc Runs for President to Promote BIP 300
Pleb Miner Small Builds and Innovation
Sat Stacking Pleb has a cool one board build
Altair Tech to have S19s single boards
D-central carries a Bitaxe kit and Pivotal Pleb Tech boards
Crypto Cloaks carries a number of DIY items as well
Winter is coming and everyone is getting ready with their space heaters and dusting off the sketchbooks and designs from previous years and getting back to work. Can’t wait to see and share what everyone will build this winter!
