What I read this week OnBitcoin
If you are in the US, Happy Thanksgiving weekend!
I hope you are getting some rest, enjoying time with your family and hopefully orange pilling some of them. Here is are 5 tips for teaching bitcoin to friends and loved ones.
Did you hear about the largest ever Bitcoin fee paid? Someone made a big mistake and ended up paying an 83.7 Bitcoin transaction fee! Thats over an $3.1 million USD.
The sender tried transferring 139.42 BTC on Nov. 23, only to pay more than half the actual value in the transaction fee. The destination address received only 55.77 BTC. Read the full details here.
Home mining update
I started hashing in the garage this past week testing out mining pool software with both an Antminer S9 and Antminer S19jPro+ to learn about how each app works and the pros and cons of each.
Will be writing a post on Choosing a Mining Pool soon with all the details and my thoughts on what I learn.
I ran a poll this week to see what pools people are using and gather some feedback. There is a lot of great suggestions and advice in the replies.
Galoy Bitcoin Bank
I’ve been learning a lot about the Bitcoin banking infrastructure Galoy is building. It’s an open source core banking platform is designed for launching enterprise-scale Bitcoin and Lightning applications.
They launched the Bitcoin Beach Wallet in 2020(Now called Blink) to help develop a sustainable Bitcoin economy in El Zonte, El Salvador.
When La Ley Bitcoin (the “Bitcoin Law”) was passed in June 2021, the Bitcoin Beach Wallet was thrust into the spotlight, skyrocketing to tens of thousands of users overnight.
I’m really impressed with this open source project and want to test drive this platform for myself. They have great docs and support so over the winter, I’m going to work on setting up the Bit Helm bank on Galoy.
What I read On Bitcoin this week.
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Happy Thanks Giving!