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Title: Miners can use Non Custodial Wallet for Mining Rewards with Bitcoin Lightning Post by: ArikeTobi on February 16, 2024, 06:14:52 AM One of the unique advantage with the use of a lightning network is the speed it provides in having transactions done fast and this has brought us into seing what the Titan Mining has for the miners this time.
https://talkimg.com/images/2024/02/14/vq6Nl.jpeg https://cryptoslate.com/bitcoin-miners-to-get-instant-non-custodial-rewards-via-lightning-network/ An offer was made by a non custodial Bitcoin Mining Pool otherwise known as Titan Lightning, which are committed in giving bitcoin miners a direct access to claiming their mining rewards with the use of a non custodial wallet, instead of a total dependency they used to have on a custodial mining pool which causes delay before their rewards are being received after every successful block mined as disclosed by the Titan Lightning. https://talkimg.com/images/2024/02/14/vqmwT.png https://cryptoslate.com/bitcoin-miners-to-get-instant-non-custodial-rewards-via-lightning-network/ They go further in explaining that this will be a general approach they are using to benefit any miner across the world with the use of Titan Lightning, this will help them have more quick access to their block rewards than when they are getting it from a different means which is under custodial, though they also made mention of their collaboration efforts with Lumerin Hashrate to further increase the service satisfaction of the miners in preparation for this coming halving. Title: Re: Miners can use Non Custodial Wallet for Mining Rewards with Bitcoin Lightning Post by: MusaMohamed on February 16, 2024, 07:07:54 AM If a mining pool finds a block, it will get block subsidy and transaction fee from transactions are confirmed in that block. Rewards from block subsidy and transaction fee are good enough for the lucky mining pool.
I know no single (solo) miner will get all reward from the block and the mining reward distribution through Lightning Network is good enough for miners in that pool. Anyway I think it is not a big issue with Bitcoin miners but with non-Bitcoin-miner users. Title: Re: Miners can use Non Custodial Wallet for Mining Rewards with Bitcoin Lightning Post by: franky1 on February 16, 2024, 07:50:12 AM correction
locked funds ARE in custody of a pools channel, where the miner is given unsettled IOU inbound balance from channel partner,(expecting inbound balance that is NOT a miners self custody owned coin).. with the hopes of mutual cooperative channel closing to settle and later receive actual coin. but with a mining pool hosting/locking the reward as its input.. with multiple active HTLC(potential outputs with conditions) for its workers(miners) the mining pool wont just close its funding channel at one participants request. the word "non custodial" has been abused to suggest funds are not centralised.. when actual meaning is funds are not self-custody. Title: Re: Miners can use Non Custodial Wallet for Mining Rewards with Bitcoin Lightning Post by: ABCbits on February 16, 2024, 10:25:19 AM Quote from: https://cryptoslate.com/bitcoin-miners-to-get-instant-non-custodial-rewards-via-lightning-network/ Titan Mining CEO Ryan Condron explained, “At Titan, we believe in empowering miners worldwide. The Titan Lightning solution offers immediate access to mining rewards, enhancing liquidity and putting control back in the hands of miners.” The integration of the Lightning Network allows miners to receive block rewards every ten minutes with no minimum payout. If this part is fully true, that means the pool prepare tons of Bitcoin on LN. After all, you can't spend mined Bitcoin before 100 confirmation. While the idea is cool, i'm not sure many miner really want or need to sell or use their mined BTC as soon as possible. Title: Re: Miners can use Non Custodial Wallet for Mining Rewards with Bitcoin Lightning Post by: franky1 on February 16, 2024, 01:08:56 PM Quote from: https://cryptoslate.com/bitcoin-miners-to-get-instant-non-custodial-rewards-via-lightning-network/ Titan Mining CEO Ryan Condron explained, “At Titan, we believe in empowering miners worldwide. The Titan Lightning solution offers immediate access to mining rewards, enhancing liquidity and putting control back in the hands of miners.” The integration of the Lightning Network allows miners to receive block rewards every ten minutes with no minimum payout. If this part is fully true, that means the pool prepare tons of Bitcoin on LN. After all, you can't spend mined Bitcoin before 100 confirmation. While the idea is cool, i'm not sure many miner really want or need to sell or use their mined BTC as soon as possible. users dont get to close out channels of fresh mined coin.. they are given already locked balance of old coins if the system was smart they would be operating as a mixer. taking in dirty coins(mixer inbound/in-flow). selling dirty coins to a mining pool(at discount) and the mining pool then distributing clean coins out to mixers(at premium).. to then close channel between pool and mixers ..for the mixers to then open channels with its mixer customers to offer out clean fresh mined coins as the outflow to mixer users, at premium .. for the pool to then open channels with its miner and send dirty coins to miners at better rate |
