The pools are proxying their hashrate to the biggest players (Ant, Foundry) due to FPPS.
For the smaller pools, paying out FPPS hashprice during a dry spell requires a large bankroll. Hard to get that when you're just earning a 2% pool fee.
I also suspect fee variation due to ordinals/brc-20 etc - where big players get an outsize % of high fee blocks - may play a role.
The current incentives all point to majority hashrate at either Ant or Foundry. That is scary.
evanbaer / Evan Baer
npub185…w4f7w
2024-04-17 16:22:02
in reply to nevent1q…8zg2
Author Public Key
npub185kg4jpc3qeh3av7r0qgpc0knnpuyykppxueuswvy8k2ch8lrlcqrw4f7wPublished at
2024-04-17 16:22:02Event JSON
{
"id": "c54e9d1b34718aac9d8aceb36338d4def09b32cf12c9f9786fb724a13da11aa7",
"pubkey": "3d2c8ac838883378f59e1bc080e1f69cc3c212c109b99e41cc21ecac5cff1ff0",
"created_at": 1713370922,
"kind": 1,
"tags": [
[
"e",
"438c1580e2f85b2ee47fc609ee3b5230738dd0f56e26f8f07364bc713ee06570",
"wss://nostrue.com/",
"root"
],
[
"p",
"3d2e51508699f98f0f2bdbe7a45b673c687fe6420f466dc296d90b908d51d594"
]
],
"content": "The pools are proxying their hashrate to the biggest players (Ant, Foundry) due to FPPS.\n\nFor the smaller pools, paying out FPPS hashprice during a dry spell requires a large bankroll. Hard to get that when you're just earning a 2% pool fee.\n\nI also suspect fee variation due to ordinals/brc-20 etc - where big players get an outsize % of high fee blocks - may play a role.\n\nThe current incentives all point to majority hashrate at either Ant or Foundry. That is scary.",
"sig": "e11d2cbd89487571546b8e5d30244c3452048c8051c194070c74cd0e88d41d4d59f04125903f6d537e37afb811b65d8e731377b0b3e9f5d703bf6eb58703ffe5"
}