Jibe ho! on Nostr: Thank you for the description. But I don’t particularly like the auction analogy. ...

Thank you for the description. But I don’t particularly like the auction analogy.
Sometimes the lowest bidder wins. It’s probably closer to buying lottery tickets—more tickets = more chances, but all you need is 1 chance to win.

At any rate, I think the notion of collaboratively mining or searching for the block makes good sense to me.