Short story of a great victory. A small Bitcoin miner, armed with only 2 Peta Hash of power, has just hit the jackpot. By solving a Bitcoin block, he pocketed 6.25 BTC, or approximately $258,000 at current price of BTC. This feat, as rare as winning the lottery with a single ticket, shakes the world of Bitcoin mining and reminds us that in the competition that drives this sector, David can sometimes beat Goliath.
Bitcoin mining: 6.25 BTC earned
The news broke on Twitter a few days ago, from the mouth of the main developer of the small ckpool solo mining tool : a user of the software has successfully validated a block, alone.
This modest miner therefore achieved the impossible, or almost. With his 2 Peta Hash, a unit of measurement used to quantify the computing power of a miner, he has beat the mining giants and mined an entire block. Gain ? 6.25 BTC block reward, or approximately $258,000. It’s as if our lucky guy of the day had just won a small fortune in the lottery.
Indeed, usually in mining pools, miners are distributed the BTCs found in proportion to their computing power provided, as in a classic mining pool, but here, this small miner has taken everything for himself, all alone. An exploit that a miner of this size would only solve on average once every 5 years
“Congratulations to miner 15VYcdhWXB2tpKmFHKT9DcGLWDQJQ2XMJW who with 2PH solved the 279th solo block on http://solo.ckpool.org! A miner of this size would only solve a block on average once every 5 years. »
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Bitcoin: small miner for big victory
Let’s understand that in the world of mining, having a power of 2 Peta Hash is like entering a gladiator arena, armed with a wooden spoon. Your chances of survival are slim. However, against all odds, our little miner managed to solve a block. For what ?
Because the Bitcoin mining process, created by Satoshi Nakamoto, is essentially a giant lottery. Each miner contributes to the network’s overall computing power, attempting to guess the solution to a cryptographic puzzle. Normally, those with higher hashing power have more “lottery tickets”. But, like any lottery, even one with only one ticket, you can win. This is exactly what happened here, with low computing power, the block was still validated.
A feat, also praised by the developer of ckpool, who still receives a commission of 2% on the reward of the validated block.
A fascinating anecdote for some, a mystery for others, these stories of unaccompanied minors continue to animate the community. As these lines take shape, our story of the day particularly resonates with current events. In fact, we are approaching the fourth halving of Bitcoin, scheduled for April 2024, an event that will halve the rewards allocated to miners. This affair also coincides with the anniversary of the very first halving, which occurred on November 28, 2012.
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