Episode notes
Pleb Miner Redux – What is a Bitcoin Miner.
The month of September is dedicated to pleb miners who will not unplug nor comply. The backbone of the bitcoin network, dedicated to decentralisation and freedom.
To kick things off @JonPDiGiacomo explains - what is a pleb miner……
“Who and What is a Pleb Miner”
The original Bitcoin miner, Satoshi Nakamoto mined the Genesis Block with a reward of 50 Bitcoin, Bitcoin that can’t be spent as the Genesis Block is hardcoded into new nodes as the root of the blockchain. The signature of his mining was later analyzed by Sergio Lerner. He dubbed Satoshi’s miner as Patoshi and its signature as the “Patoshi Pattern”. The technique that Lerner used determined that Patoshi hashed a different set range of nonces. This behavior created a unique saw pattern in nonce data analysis. It’s estimated that he had up to 48 CPUs mining with another controlling the operation and/or on standby to protect against a 51% attack. Satoshi mined solo until he invited Hal Finney and Martti Malmi to join the network. Famously on January 10, 2009, at 10:33 PM, Hal Finney was “Runnin’ Bitcoin”. Soon others joined in.
It’s fascinating to look back at those first blocks: difficulty of 1, block reward 50 BTC, the delicate balance of the 10-minute mark not quite there yet. In reviewing this short Bitcoin history lesson, we bring light to the fact that Satoshi wasn’t running a giant mining operation with a cool name, a board with multiple investors, and billions in capital expenditures. He was possibly a guy in his basement or garage that he considered his lab. He shared the code with associates he knew online. Their goal was to discover blocks and secure the network. He mined because he was passionate about the innovation that he built. He was the original miner, he was a Pleb Miner. Sometime in May of 2010, Satoshi turned off the Patoshi miner, confident that he had passed the torch on to the next generation of miners……..
Link to full article bellow.
Link to article - https://ungovernablemisfits.com/pleb-miner-redux-what-is-a-bitcoin-miner/
Show guest
twitter - @JonPDiGiacomo
twitter - @MaxBitbuybit
twitter - @bitbuybitpod
Website - https://ungovernablemisfits.com
As always please feel free to reach out and ask me any questions.
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