Bitcoin Mining Decentralisation with Ocean – Bitcoin Mechanic (SLP528)

Official Podcast Episode: https://stephanlivera.com/528
Has Bitcoin’s Mining ecosystem become centralised? What can be done about it? Bitcoin Mechanic from Ocean joins me to talk:

– Hashers vs Miners
– Different pool payout methods
– Stratum v2
– Block withholding attacks
– What Ocean is doing about it
– Fees
– Lightning payouts

Timestamp:

00:00 – Introduction
01:13 – Bitcoin Mining Critique
03:05 – Hashers vs Miners
07:23 – Why hashrate centralises into big pools
13:33 – What is FPPS?
17:14 – What is PPLNS?
23:38 – [Sponsor] Swan.com
24:38 – Summarising the critiques
30:02 – Stratum v2
30:54 – Block withholding attacks
38:18 – What is Ocean?
44:38 – [Sponsor] Mempool.space
45:23 – [Sponsor] Coinkite.com
47:10 – Non custodial Mining Pool
49:10 – Who should mine with Ocean?
51:43 – Starting on 0 fee, and then going up
53:50 – Lightning payouts
57:00 – Decentralized block template construction

Links:

– X: https://twitter.com/GrassFedBitcoin
– Site: https://ocean.xyz/event
– X: https://twitter.com/ocean_mining/
– Article: Are Mining Pools Becoming a Problem? : https://bitcoinmagazine.com/technical/are-mining-pools-becoming-a-problem-

Sponsors:

– Swan.com (code LIVERA): http://swan.com/livera
– CoinKite.com (code LIVERA): http://coinkite.com/
– Mempool.space: https://mempool.space/

Stephan Livera links:

– Follow me on X @stephanlivera: https://twitter.com/stephanlivera
– Subscribe to the podcast: https://plinkhq.com/i/1415720320