As the
#BasedMining block party winds down, I want to take a second to reflect on where we are, where we're going, and why this matters to the Base chain as a whole. If you do anything today, just read point 3 on why this matters to the Base chain.
Where we are:
This pool opened in May, so we're going on 6 months. Based Mining is a new entrant and the first mining pool built for home miners, AI agents, and EVM users. Other pools like Parasite have already borrowed some of our ideas, like buying rented hash directly on-site. That tells you the ideas are innovative.
Based Mining has had consistent hash rate since May, and the HR has shot up into the mid-to-upper 100s of PH. Is that enough to find a block? Yes. People have found blocks with just a few TH. Is it enough to find blocks consistently? No. Right now we have to get lucky.
Where we're going:
Based Mining is going to be the greatest hybrid + alternative bitcoin:native pool on the market. People on Base can earn base:0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf through NFTs on the Base chain, and
$HOOD chain users can also earn bitcoin:native. That's not something to sleep on.
To get there, a few things have to happen. We need consistent hash rate in the pool to raise our daily odds, on top of the monthly block parties. Consistent hash rate means more chances to hit a block every minute. When a block is hit, the person whose rig or NFT hit the winning difficulty gets 1 bitcoin:native. The other 2.1 gets split across the pool based on your highest difficulty and total shares contributed. That's why consistent hash rate helps you as a user: it increases your share of that 2.1.
Why this matters to Base:
I've said it before, and I'll say it again: where Bitcoin goes, the crypto market goes. Don't kid yourself into thinking your project will pump if Bitcoin isn't in a strong position. No matter how good your project is, you're always beholden to what Bitcoin is doing. That's why Base, as a chain, needs to embrace the crypto that is King.
By growing awareness and usage of the Based Mining pool, we:
1. Take market share from the three pools that control over 50% of total hash rate.
2. Put Base on the front page of mempool. Imagine how much free marketing Base projects get if one of the biggest pools in the world is a group of Based Miners.
3. Let Base run a flywheel like nothing we've seen before, one that can't be artificially created or manufactured. Right now, the same capital just rotates from project to project on Base among a small (relative to the overall market) group of users. What would a consistent 3.1 bitcoin:native injected into Base users do for your projects? More liquidity. No being forced to sell early to fund a new project. No waiting on a paycheck to put more money in. Consistent bitcoin:native or base:0xcbb7c0000ab88b473b1f5afd9ef808440eed33bf that you can hold if you're a Bitcoin maxi, or sell if you want to use the capital elsewhere.
I don't care if you use Bitcoin or like Bitcoin, but you damn well need to know it's the foundation of whatever you think you're building.
All this to say: if you're a pleb like me with a little hash rate, point it at the Based Mining pool. If you're a Based project, allocate some funds to the Based Pool's NFT block parties. If this message resonated at all, buy a Bitaxe, point some hash rate at the pool, and give yourself a shot at a whole bitcoin:native.
This isn't me shilling a memecoin. This is fucking BITCOIN. The only benefit I get is watching the pool succeed and my split of the 2.1 BTC when we hit our first block.
STAY BASED