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The problem is legitimacy in this case is not keeping logs. That is impossible to prove. The best you can do is human scale things like "how likely is it that J

The problem is legitimacy in this case is not keeping logs. That is impossible to prove. The best you can do is human scale things like "how likely is it that Joe is a fed?", which can't be automated.

mrkramer 2y ago
>The best you can do is human scale things like "how likely is it that Joe is a fed?", which can't be automated. I agree with that but is there a site which analyses efficiency of the mining nodes from the economic point of view e.g. how fast the nodes confirms transactions, how much fee does it charge/take on average etc. etc. The good old statistics which are sexy to see and observe over time. P.S. I have this one in my bookmarks directory: https://mempool.space/ https://mempool.space/ are there any others? I didn't follow the crypto scene for the last 5 years so idk.
- petertodd 2y ago
  No offense, but your understanding of how Bitcoin works is quite incorrect. There aren't publicly accessible "mining nodes". Rather, there is a P2P flood-fill network of tens of thousands of nodes, of which a tiny % belong to miners. What nodes are actually operated by miners is very difficult to figure out, and that's a good thing. All miners confirm transactions essentially the same way: highest fee has priority because that's the most profitable way to mine (specifically, feerate: fees/byte). There's no such thing as confirming transactions "faster" or "slower": blocks are found on average every 10 minutes, and all miners have (essentially) the same set of candidate unconfirmed transactions because the P2P network reliably propagates all candidate transactions paying sufficient fees to all miners (there is a dynamically adjusted minimum feerate limit, below which transactions don't propagate, which prevents spam).
  - mrkramer 2y ago
    I'm interested more in the game theory behind mining and corresponding economic stats....for example mempool.space tells me: Reward stats (Last 144 blocks): Avg Tx Fee, 1.01k sats/tx, $0.58 Avg Block Fees, 0.0449 BTC/block, $2,592 Miners Reward, 456.46 BTC, $26,352,619

mrkramer 2y ago

>The best you can do is human scale things like "how likely is it that Joe is a fed?", which can't be automated. I agree with that but is there a site which analyses efficiency of the mining nodes from the economic point of view e.g. how fast the nodes confirms transactions, how much fee does it charge/take on average etc. etc. The good old statistics which are sexy to see and observe over time. P.S. I have this one in my bookmarks directory: https://mempool.space/ https://mempool.space/ are there any others? I didn't follow the crypto scene for the last 5 years so idk.

petertodd 2y ago
No offense, but your understanding of how Bitcoin works is quite incorrect. There aren't publicly accessible "mining nodes". Rather, there is a P2P flood-fill network of tens of thousands of nodes, of which a tiny % belong to miners. What nodes are actually operated by miners is very difficult to figure out, and that's a good thing. All miners confirm transactions essentially the same way: highest fee has priority because that's the most profitable way to mine (specifically, feerate: fees/byte). There's no such thing as confirming transactions "faster" or "slower": blocks are found on average every 10 minutes, and all miners have (essentially) the same set of candidate unconfirmed transactions because the P2P network reliably propagates all candidate transactions paying sufficient fees to all miners (there is a dynamically adjusted minimum feerate limit, below which transactions don't propagate, which prevents spam).
- mrkramer 2y ago
  I'm interested more in the game theory behind mining and corresponding economic stats....for example mempool.space tells me: Reward stats (Last 144 blocks): Avg Tx Fee, 1.01k sats/tx, $0.58 Avg Block Fees, 0.0449 BTC/block, $2,592 Miners Reward, 456.46 BTC, $26,352,619