evanbaer
Evan Baer

Building an exit from the rigged system: Rigly

Public Key

npub185kg4jpc3qeh3av7r0qgpc0knnpuyykppxueuswvy8k2ch8lrlcqrw4f7w

Profile Code

nprofile1qqsr6ty2equgsvmc7k0phsyqu8mfes7zztqsnwv7g8xzrm9vtnl3luqpz3mhxue69uhhyetvv9ujuerpd46hxtnfduqs6amnwvaz7tmwdaejumr0ds9knpxc

Publishing to

relay.damus.io

nos.lol

Author Public Key

npub185kg4jpc3qeh3av7r0qgpc0knnpuyykppxueuswvy8k2ch8lrlcqrw4f7w

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Last Notes

2024-07-05 19:38:25

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Nice

2024-04-17 16:22:02

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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.

2024-04-03 16:43:10

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It's a beauty

2024-04-03 16:35:54

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Lol nice

2024-04-01 20:19:54

Get your #bitcoin kyc-free today
- rigly.io
- 500 sats test drive (3 hours of mining)
- Buy more hashrate
#note1svd…dcf4

2024-04-01 12:24:49

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whaaa

2024-03-28 19:45:20

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Thanks!

2024-03-28 19:44:18

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welcome!

2024-03-28 18:36:56

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working on it @npub1t6e…3scu

2024-03-28 17:12:42

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🥜🥜🥜

2024-03-28 16:24:45

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here for it

2024-03-28 16:18:07

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Totally 21

2024-03-28 16:04:25

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working on it

2024-03-28 15:57:52

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this

2024-03-28 15:52:10

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Should've been 21 years

2024-03-28 15:40:57

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True..
I think eventually people will start mining to enforce their voice on the network
I think we see that in that not too distant future
my project Rigly.io lets people buy hashrate now, so more people have access to mine bitcoin
With stratum V2 I think we'll see more folks creating their own block template, enforcing their voice on the network, deciding which version to use in terms of soft forks etc

2024-03-28 15:21:39

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Gotcha, makes sense

2024-03-28 15:19:45

Still time to bid on today's #bitcoin mining auction - rigly.io
1 PH/s for 24 hours
~170k sats bid rn
Place your bid and start mining kyc-free bitcoin ⛏️
@npub1t6e…3scu
https://void.cat/d/KmGapHBy5B2mj2XL3bqQs2.webp

2024-03-28 15:14:50

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I'm just trying to understand what the criteria is of a CBDC versus BTC with KYC association
Feel free to try Rigly, I'll zap you some sats for the mining test drive

2024-03-28 15:13:02

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It hasn't happened yet but seems possible
can't stop transactions on-chain but could block at the fiat rails

2024-03-28 14:47:50

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Agree on your points - I think it will be both 1 and 2
ASICs are always going to get faster and more efficient, that's the arms race of mining
In terms of energy, mining will go to the cheapest possible energy
Best example of this is the methane mitigation where mining captures nat gas flare... this is waste electricity that bitcoin miners are harvesting. All the incentives are aligned to capture this waste power and earn bitcoin.

2024-03-28 14:01:28

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So like, imagine water is bitcoin
- There's a fixed supply of water on Arrakis
- The Harkonnens are wasteful (very fiat)
- The Fremen are thrifty (check out those Stillsuits!)
There's a whole thing in the book about how the Fremen are saving all the water (decaliters upon decaliters) to eventually transform the planet
Anyhow yeah if you go to the book and DYOR the whole Dune fit with bitcoin = water will jump out at you!

2024-03-28 13:52:23

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Tbh BTC+KYC seems to have all the criteria when you look at the KYC framework on exchanges
Plus, if you look at the mining pools, there's only like 3 pools with > 50% of hashrate ....so eventually, that's only a few places to block transactions

2024-03-28 13:49:21

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for days like this
there's NOSTR

2024-03-28 13:39:35

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Love to see this
Congrats

2024-03-28 13:38:12

Something that occurs to me re these points
What if #bitcoin is the CBDC?
Consider if you buy bitcoin on a US exchange:
1. You buy bitcoin (with KYC)
2. Your bitcoin address is linked with your personal info
3. Your future spending of that bitcoin is visible on-chain
How is this BTC different than a CBDC?
What am I missing?
#note1zu0…4zef

2024-03-28 13:28:00

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Gotcha. This is great geedbackl.
We have a limited amount of hashrate to sell on Rigly.io
Auction is the fair way to sell it
Re escrow, would you prefer we put the address public?
If we do that, then the buyer's TX is visible ... which doesn't seem great for user privacy..
We only ask for email, you are free to create an anonymous address.
Thoughts?

2024-03-27 15:31:24

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Auction is because there's only so much hashrate we have from mining farms
Escrow = sellers paid after hashrate delivery
Email sign-up is due to the need to communicate with you once you buy

2024-03-26 14:40:39

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I hope it is further out than that
I started a project so ppl can buy hashrate
@npub1t6e…3scu
This way ppl can mine bitcoin from wherever and get kyc-free

2024-03-26 13:26:18

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Agree with all this
Similar concept applies to bitcoin bought on exchanges w/ kyc

2024-03-25 12:20:14

Gm Nostr 👋

2024-03-22 20:51:33

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lol

2024-03-22 20:26:53

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Kk fixed ... i think
Thanks for the feedback there

2024-03-22 20:22:22

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🚂 🚂 🚂

2024-03-22 20:18:28

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Gah! Okay fixing that

2024-03-22 20:12:16

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Yeah this is my project. Built it with other bitcoiners:
https://rigly.io/about-us

2024-03-22 20:01:44

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Zapped you friend!

2024-03-22 19:59:15

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Ah yeah
Our documentation may need some improvement..
If you go to rigly.io and buy the test drive, you'll get an email with details along with a mining pool account to start mining bitcoin
There's a step by step tutorial here too:
https://blog.rigly.io/how-to-create-a-braiins-pool-account-and-buy-hashrate-on-rigly/

2024-03-22 19:52:47

Alright let's give away some privacy for today's #zapathon
1. You interact with this post
2. I zap you 500 sats
3. You try the 3 hour mining test drive (500 sats) on rigly.io
Get kyc-free bitcoin the easy way with Rigly.
@npub1t6e…3scu
https://void.cat/d/AMAfA4Jm8K1CzAMLTByhAx.webp

2024-03-22 18:45:05

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Yeah if you wanna support the network or take a chance on solo mining

2024-03-22 18:41:31

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Rigly is a marketplace for mining farms to sell hashrate direct to bitcoiners.
How it works:
1. you buy hashrate
2. send to your mining pool account (braiins, luxor, f2pool etc)
3. you earn kyc-free sats
One note is that the hashrate is sold at a markup (that's why mining farms are selling it)

2024-03-22 18:34:22

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here for it ⚡

2024-03-22 18:26:27

Mining is the best path to KYC-free #bitcoin
I started a project - Rigly.io - to make it easy for people to buy hashrate and mine bitcoin ⛏️
Check out the mining test drive - 3 hours of hashrate for 500 sats
Interact with this post and I'll zap you sats to try it out ⚡

2024-03-22 18:07:16

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Sometimes the better path looks grim at first

2024-03-22 18:04:04

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Bring it on!

2024-03-22 18:03:06

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good fixed rate mortgage is worth it - if you have it
(harder now)

2024-03-22 18:02:06

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You can get kyc-free sats through mining
Just buy hashrate and send to mining pool account
I started a project - Rigly.io - to make this easy for people

2024-03-22 17:46:05

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You get 500 sats
And you get 500 sats
https://void.cat/d/UqemEEiiNKyeXYhoKVtk1Y.webp

2024-03-22 17:00:53

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Okay. I'll look.

2024-03-22 16:52:43

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Zap for comment #56 right here pls

2024-03-22 16:46:18

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whaa?
I'm using Brave on desktop works great
What platform?

2024-03-22 16:36:57

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Zapped you!
Check out the 500 sat mining test drive - rigly.io
3 hours of hashrate

2024-03-13 19:45:42

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all about low fees right now

2024-03-13 18:57:29

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i have also seen this drawer

2024-03-13 18:52:10

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here for it

2024-03-13 18:44:07

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Get kyc-free btc while its still possible

2024-03-13 18:43:32

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Mine new bitcoin to get kyc-free privacy - rigly.io or Nicehash etc

2024-03-13 18:41:52

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Hold kyc-free bitcoin for the long term

2024-03-13 18:30:30

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Here's hoping for mass adoption! Part of me hopes that is a ways out though, there's still so much to build.

2024-03-13 18:23:09

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Unfortunately I think those approaches are security theatre
We're seeing the fiat rails close for CoinJoined bitcoin and the mixer crackdowns (Bitcoin Fog) are likely to continue
I started a project to simplify access to mining (Rigly) so people can get new bitcoin that way
But there just isn't much new bitcoin left...

2024-03-13 18:17:10

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Fixed it
https://void.cat/d/JynonrSmkyFzBJ37zttcqz.webp

2024-03-13 18:10:46

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Eh its all KYC bitcoin
Unless you mine new btc kyc-free, it's going to end up in one government or another's control

2024-03-13 18:08:12

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Sure. The state will just wait for those funds to move, then come a calling your way. That's life under KYC.

2024-03-13 18:07:07

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I think that's right. No direct change but potential slow blocks (+increase fees to get into fewer blocks) during subsequent difficulty adjustments while things shake out...
Related, there could be a fight across multiple mining pools for block 840,000 due to its high value to the Ordinals / rare sats crowd (same estimates are >$1M for the single rare epic sat) ... and so we will likely see block reorgs (and potentially higher fees) as the miners struggle to keep possession of that block.

2024-03-13 17:58:40

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I wish this post was reassuring - but it just makes me realize how rigged things are
How much of that chart is kyc'd bitcoin?
The individual can't do much when the state a) asks you to turn in bitcoin b) has your KYC info for every purchase
I built Rigly so people have a way to mine bitcoin and get kyc-free, but time is running out.

2024-03-13 17:55:26

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Yeah and the state will collect all the kyc'd bitcoin before its >$1M

2024-03-13 15:46:45

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One can be controlled, the other can't

2024-03-13 15:28:43

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Useful to know

2024-03-13 15:27:23

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The state is sending a message
They want as much bitcoin as possible to stay kyc'd

2024-03-13 15:23:43

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saved

2024-03-13 15:18:20

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There's always room for more kyc-free bitcoin

2024-03-13 15:16:45

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That's a good start. What are you doing for no-kyc sats?

2024-03-13 15:13:17

2 years ago, I started building a hashrate marketplace and learned a few things about #bitcoin mining, money laundering and KYC.
When I started Rigly.io in 2022, I wanted to offer a way to mine #Bitcoin w/o buying hardware.
I wasn't the first person to have this idea, there are 2 other hashrate markets (NiceHash and Mining Rig Rentals)
Both sell hashrate for more btc than it will earn via mining...
This struck me as odd.
Who trades hard-earned bitcoin .... for hashrate to earn less bitcoin?
My first thought: This must be money laundering🚫
And then I did my own research and learned about KYC (Know Your Customer)
Whenever you buy bitcoin, you must verify yourself with the same level of ID as opening a bank account..
If you are treat your bitcoin like a bank balance (and trust your exchange) maybe KYC is no big deal..
But let's take a closer look at what KYC means:
1) Do you want your personal info stored forever in the exchange's database? 📸📄
2) Do you trust the exchange to keep this info separate from your bitcoin? 🙅‍♂️
Many answer "No" and choose to self-custody🔐
However the KYC data - including purchase history (!) - is still on the exchange.
This means your personal info is still tied to your bitcoin even when you self-custody (!)
And so many people choose to mine *new* bitcoin and get their privacy back⛏️
These are the people who are buying hashrate.
It isn't money laundering.
It's people taking their privacy back (by mining bitcoin)
^ I know this is all probably old news to a lot of bitcoiners, but it was new to me.

2024-03-13 15:01:07

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I think it is soon too. My concern is all the kyc'd bitcoin out there. It may lead to bitcoin being the global reserve asset ... in the same system.

2024-03-13 14:56:48

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True

2024-03-13 14:51:55

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I like this a lot.

2024-03-13 14:49:55

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Great time to lock in some kyc-free sats.

2024-03-13 14:41:07

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Yeah, but people who have kyc'd bitcoin are still in the rigged system. I don't think "I lost it in a boating accident" holds much weight with the state.

2024-03-13 02:38:00

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wow

2024-03-13 00:38:02

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Saved.

2024-03-13 00:22:32

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Balance is key. Also reminds me of this one:
little things upset us because little things make us happy

2024-03-13 00:18:10

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That sounds perfect

2024-03-12 18:30:55

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probably good to have kyc-free bitcoin before step 9

2024-03-08 14:30:34

2 years ago, I started building a hashrate marketplace and learned a few things about #bitcoin mining, money laundering and KYC.
When I started Rigly in 2022, I wanted to offer a way to mine #Bitcoin w/o buying hardware. I wasn't the first person to have this idea.
There are 2 other hashrate markets:
One is easy to find (NiceHash)
The other isn't (miningrigrentals.com)
Both sell hashrate for more $ than the hashrate will earn via mining 🤔
Who trades hard-earned bitcoin .... for hashrate which earns less bitcoin?
My first thought: This must be money laundering 🚫
And then I did my own research and learned about KYC..
Whenever you buy bitcoin, you must verify yourself with the same level of ID as opening a bank account. If you are treat your bitcoin like a bank balance (and trust your exchange) maybe KYC is no big deal.
But take a closer look at what KYC means:
1) Do you want your personal info stored forever in the exchange's database? 📸 📄
2) Does the exchange keep transaction data separate from your info? 🤷‍♂️
3) Do you trust the exchange? 🚩🚩🚩🙅‍♂️
Many answer "No" and choose to self-custody 🔐
However the KYC data - including purchase history (!) - is still on the exchange.
This means your personal info is still tied to your bitcoin even when you self-custody (!)
Many people choose to mine new bitcoin and get their privacy back ⛏️
These are the people who are buying hashrate.
It isn't money laundering.
It's people taking back their privacy.

2024-02-07 19:15:02

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Yeah but if your bitcoin is from most exchanges, you're already KYC'd with no privacy. How to fix?

2024-02-07 19:10:51

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lol

2024-02-07 19:09:45

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Real cute.

2024-02-06 11:19:25

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whoa...

2024-02-06 10:49:15

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ZAP THIS MAN

2024-02-06 10:41:29

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Looks neat, but you could mine for real on rigly.io
500 sats for 3 hours @ 88 TH/s

2024-02-05 04:30:19

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neat

2024-01-29 21:32:51

Part 6 - What would #Bitcoin mining hashrate look like as flows of water?
Niagara Falls, USA
240,000,000 TH/s (240 EH/s)
Niagara Falls has a tremendous flow rate, approximately 2,400 m³/s. Using our analogy, this represents the enormous scale of mining across multiple continents.
https://void.cat/d/DS8LojtCrLArbbepp6qYv1.webp

2024-01-29 21:31:27

Part 5 - What would #Bitcoin mining hashrate look like as flows of water?
Bridal Veil Falls, Yosemite, USA
500,000 TH/s (500 PH/s)
Bridal Veil Falls has an estimated flow rate of about 5 m³/s. In our analogy, this scale represents a significant, industrial-scale mining operation.
https://void.cat/d/2ZYiWBSVp3xVpXZdohvrzT.webp

2024-01-29 21:29:15

Part 4 - What would #Bitcoin mining hashrate look like as flows of water?
Fire Hose
50,000 TH/s (50 PH/s)
A fire hose can have a flow rate around 0.5 m³/s. In our analogy, this scale is typical for a larger, more industrial mining operation.
https://void.cat/d/TxWYB3RuHNgG2ykSYXRxEr.webp

2024-01-29 21:27:36

Part 3 - What would #Bitcoin mining hashrate look like as flows of water?
Garden Hose
300 TH/s
A standard garden hose might have a flow rate of around 0.03 m³/s. Using the same analogy, this scale is a more serious individual mining operation.
https://void.cat/d/7JWh5nsddwcArGKUgDxdcA.webp

2024-01-29 21:23:38

Part 2 - What would #Bitcoin mining hashrate look like as flows of water?
Shower Head
80 TH/s
A typical shower head might flow at about 0.008 m³/s. If we maintain the same ratio as the straw, this could represent a small-scale individual mining setup.
https://void.cat/d/QAQaLsZVtF47kcMSo9Tn6B.webp

2024-01-29 21:20:52

What would #Bitcoin mining hashrate look like as flows of water?
Drinking Straw
1 TH/s
A drinking straw might allow water to flow at about 0.0001 cubic meters per second (m³/s). In this analogy, it is the most basic level of computational power in Bitcoin mining.
https://void.cat/d/F9HdpDTWfER1Qt2b9926Yk.webp

2024-01-29 16:57:44

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Right, and there's always mining to get new bitcoin free of kyc, etc. Several marketplaces for hashrate to mine with - Nicehash, Rigly, Mining Rig Rentals

2024-01-25 01:44:19

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Looking good.

2024-01-25 01:43:41

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That's a start
Once you've got some bitcoin, try out mining ⛏️