The beauty of ethos is it gives purpose. Something to aspire to, to achieve, to add meaning to action. It can be ridged and be like water. We all seek to find reason and purpose, a likely character flaw but can be seen as admirable. As this ethos or any is a cause of risk and a cause of trust. Mostly to one’s self, likely in holding a blind eye while on the path for perceived meaning.
When focused on the bitcoin network and looking explicitly at pooled mining there is immense opportunity to have and to provide ethos. With the financial sector, it was only time till traditional fiat markets attempt to pollute the industry. Enticing risk for gain, likely leading to loss, driving further centralization of the mining landscape. Our pool is specifically designed to drive in the opposite direction. Towards decentralization via dispersion, toward user control. It’s simple and understated because it’s how pooled mining should sound but doesn’t. Everyone wants to sell you a product and addition, addon, extra, enhanced something and we’re not innocent of marketing either. Though our selling points completely differ. Differ in tone, clarity, transparency, and in realized ethos.
I’ll admit I even cringe at the word ethos and even decentralization. As these words are often used to virtue signal; to invoke an emotional response, placate to a base, and likely used to mislead. As well in pooled mining you can’t achieve true decentralization as you are pooled with other network users. Or maybe still a miner just sells their hashrate for fiat and doesn’t necessarily care what a pool operator does with it anyway. Most to all are poorly networked with multiple slave nodes just to entice locality but least optimal for stratum mining but to our point here, only creates more centralization regardless of a company’s signaling for any decentralization. Laurentia Pool limits size to aid in dispersion as we could likely never achieve a majority hashrate this way. Then if we achieve our mandate to maximize pool potential while still achieving the most optimal mining conditions per user, as confidently I’d say there are one hundred potential users available to reach beyond fifty exahashes. We project in a free market that the likely hood of this occurring is negligible at best, that this set of users would mine here during the same single period. As we’ve modeled our structure with a decentralist ethos in limiting size to drive dispersion, we have affectively removed ourselves entirely from the equation. Then if we did have majority hashrate it would still be unaltered work directly to the bitcoin network mining highest fee txs. Internally for Laurentia Pool we’ve done everything we can to solidify our stance without likely ever having to revisit the topic. Making it default, redundant, yet efficient and a net gain for users.
Another pool mining ethos is the one based around profitability. This metric is typically solely forged in block count per day. Meaning the pool that has the most blockfinds on average is most profitable, not their users, the pool itself (and is the most centralized). Effectively misleading users on a statistic that holds no relevance to their own reward. Also discounting any fees associated with pool services and now financial services. Muddling the pool/user relationship and focused on adding more profitability to their own up selling structures, and hashrate at their disposal to use to their own benefit. Which the latter is more in regard to a potential miners own ethos or lack of, by just selling off hashrate not intending to mine a network specifically.
Laurentia Pool by design will never be the most profitable as it’s meant to move revenue to the user than to the operators. With efficiency you become lean, agile, effective, and of course optimized. Granting Laurentia Pool the ability to reduce overhead and transparently passing those savings to the user. Your hashrate goes directly to network work and your reward received directly from that network. Eliminating abundant bottlenecks and operational costs. Our minimum cadence (or mining period) of 5 blockfinds is purposefully designed to drive revenue to every user on our pool as well for us as pool operators. Essentially a symbiotic relationship between user and pool.
With zero hashrate our model is self-sustainable. One that utilizes the best financial tool at our disposal, Bitcoin, to issue payment that is imediately higher in margin than anywhere else and available in 100 confirmations. By design we achieve our ethos in being the most profitable pool by driving reward revenue to the user, and is doubled with dispersion as it’s to our users directly. With Laurentia Pool’s highly optimized server and immense bandwidth location globally is a non-issue, as latency is reduced worldwide. And since the network is code and math, the potential work needed for reward is the same regardless where you mine. Just with Laurenita Pool the work rewarded is protected through our consistent mining environment. Along with our operational efficiencies allows us to provide a higher margin to our users. Which translates directly to their region, and not necessarily the pools region specifically. Where currently we see abundance in reward sent to a handful of entities in a single country. Our ethos again is defaulted by design into our model, requiring no action internally to achieve dispersion of hashrate and reward, and produce a positive effect on user profitability that aligns with operator profitability.
I could continue through more of our whitepaper but likely that will come in more blog posts. The fact remains though, that none of our ethos matters. It all underlines our model and what we are trying to achieve in a pooled mining landscape, specifically within the bitcoin network. All the benefits are designed to affect users of Laurentia Pool directly regardless of any ethos or alignment of. It’s simply irrelevant. The point residing in that Laurentia Pool is the most optimal pool code and networking configuration for users directly working the bitcoin network, and it is designed to achieve higher margin revenue generation for the individual user. The ethos we provide is our interpretation of what stewardship in the pooled mining space should look like. There is really only one requirement; which is a user’s desire to mine the bitcoin network directly and exclusively for every 2016 block difficulty adjustment. But even then, that just might require some ethos as well.