What are Block Rewards? How Bitcoin mining block rewards work?

wafflepool.com - An auto switching scrypt coin mining pool

WafflePool is a multi-coin (scrypt) mining pool. Point your miner to WafflePool with a Bitcoin address as your username, and we take care of automatically mining the most profitable coin at all times, converting the earnings from each coin into Bitcoins, and paying you out in bitcoins! Mining alt-coins and converting to bitcoin is very often orders of magnitude more valuable than mining Bitcoin directly! No registration, no hassles, just point and start getting paid!

Always bet on RED


Hirocoin (HIRO) New home of GPU miners, X11 hashing algorithm

Soon Scrypt coins will only be mined by those in invest heavily. Hirocoin uses the X11 hashing solution by Evan Duffield. Creating an ASIC for X11 is going to be very complex making Hirocoin an ideal home for GPU miners.

So will bitcoin miner reward gonna be cut in half from one block to the other?

I have heard the rule of thumb is that the miner reward is cut in half every four years.
I have always thought there was some easing into it. But apparently not. So do you guys know on what block the current fee of 12.5 btc will be cut in half? And what do you expect from the value of the bitcoin around this period?

Thanks in advance.
submitted by Ancoisne to btc [link] [comments]

Could bitcoin miner reward be indexed on electricity price ?

Not talking about the technical aspect, but more about the economic one. It would avoid miners to quit the network, or would not it be better if full-nodes got rewards too ? I thought it was supposed to be as decentralized as possible
submitted by Aiikko to btc [link] [comments]

Bitcoin miner rewards to halve in mid-July

Bitcoin miner rewards to halve in mid-July submitted by BobsBurgers4Bitcoin to btc [link] [comments]

[Tech] Bitcoin miner rewards to halve in mid-July

[Tech] Bitcoin miner rewards to halve in mid-July submitted by newsbeard to Newsbeard [link] [comments]

Bitcoin miner rewards to halve in mid-July

Bitcoin miner rewards to halve in mid-July submitted by BitcoinAllBot to BitcoinAll [link] [comments]

2021 crypto market predictions

2021 crypto market predictions
📌 The famous bitcoin enthusiast and TV presenter Max Kaiser expects the price of the first cryptocurrency to rise to $ 28,000 soon.
📌 Popular cryptanalyst Plan B, using the Stock-to-Flow (S2F) model, has calculated that Bitcoin will reach this mark by the end of 2021.
📈 The main driver of growth for the cryptocurrency market was the halving of the bitcoin miners' reward. Most investors expect a sharp rise in prices in 2020-2021, which was associated with the general optimism in the market in the middle of the year.
🤵🏻 Many prominent figures in the financial world, such as the head of the Bank for International Settlements Augustine Carstens, the head of the Bank of England Mark Carney, the economist-historian from Harvard University Niall Ferguson, and the president of the brokerage company Euro Pacific Capital Inc. Peter Schiff, have changed their negative attitude towards cryptocurrencies to neutral or even positive.
💰 One way or another, this year the market expects a lot of events that should have a positive effect on the investment attractiveness of cryptocurrencies.
📈 Today, it is still difficult to predict the future of cryptocurrencies in the long term, but if traditional stock markets suffer in the near future, then the prices of cryptocurrencies as an alternative means of investment can skyrocket many times, and this should also be taken into account when financial planning for 2021 and subsequent years.
✅ Today Pyrk is one of the most technologically advanced projects in the industry, offering users the widest range of services. Starting from mining and ending with the possibility of private communication.
📢 Find out more about the PYRK project, its ecosystem, and the opportunities it offers on our website: https://pyrk.org
submitted by VS_community to pyrk [link] [comments]

How to Make $$ of Bitcoin Halving

Last time I threw somethin up here ya ghosted. I ain't gon trip but hope this wake some ya up.
Bitcoin, however you feel about it (I say imperfect but better than fiat) is halving. If you don't have a coinbase or tzero wallet you can still get a bag.
Robinhood Bitcoin Stocks:
Riot blockchain owns the largest Bitcoin mining farm in North America, facilities in Oklahoma and Upstate NY. They acquired the facility in NY last month as well as bought new gear to keep up with competition as Bitcoin miner rewards half. They are well positioned moving forward to be one of the farms that continue producing Bitcoin.
Canadian financial services firm that allows customers to buy Bitcoin through their app. They have a solid customer base they help with financial wellbeing through tracking debt/spending.
No longer a pennystock but I know some of ya can up ya g. Before CEO Pat Byrnes flamed out he funneled his companies resources into bitcoin/blockchain technology. Tzero is owned by overstock and they are in the process of being approved to not only exchange crypto but regular stocks as well.
OTC stocks (ToS got em)
Grayscale Investments
GBTC, GDLC etc -
Heavy with instutional backing. It's a Bitcoin trust, they own a ethereum trust if that's your thing and then digital cap fund.
Still iffy? Look up Paul Tudor Jones since billionaires are smarter than the rest of the population combined.
I would post sources but ya Google/Yahoo Finance/Reddit/Pocket work the same.
Disclaimer: I am long and own multiple positions on these stocks.
Lastly, I expect Bitcoin to dip sometime over the next week due to coin laundering (deadass, not gonna speak further on it rn). Just a heads up
Edit: Riot operates at the largest Bitcoin mine in a partnership with Coinmint.
submitted by DreOJamrock to RobinHoodPennyStocks [link] [comments]

Bitcoin price will hit 10k USD in the next 60 days

  1. With the federal reserve announcing unlimited QE to deal with the economic crash, some buyers will be looking for a safe haven from inflation along with speculators
  2. The Bitcoin miner reward will be halving in approximately 49 days, limiting the amount of freshing created coins available to sell. Local BTC ATMs have already been selling out at high premiums.
Guaranteed Less supply + possible higher demand leads to the price spike
submitted by newscrash to predictions [link] [comments]

Continuous Proof of Bitcoin Burn: trust minimized sidechains and bitcoin-pegs w/o oracles/federations today

Original design presented for discussion and criticism
originally posted here: https://bitcointalk.org/index.php?topic=5212814.0
TLDR: Proposing the following that's possible today to use for any existing or new altcoins:


This is not an altcoin thread. I'm not making anything. The design discussed options for existing altcoins and new ways to built on top of Bitcoin inheriting some of its security guarantees. 2 parts: First, the design allows any altcoins to switch to securing themselves via Bitcoin instead of their own PoW or PoS with significant benefits to both altcoins and Bitcoin (and environment lol). Second, I explain how to create Bitcoin-pegged assets to turn altcoins into a Bitcoin sidechain equivalent. Let me know if this is of interest or if it exists, feel free to use or do anything with this, hopefully I can help.


Solution to first few points:

PoW altcoin switching to CPoBB would trade:

PoS altcoin switching to CPoBB would trade:

We already have a permissionless, compact, public, high-cost-backed finality base layer to build on top - Bitcoin! It will handle sorting, data availability, finality, and has something of value to use instead of capital or energy that's outside the sidechain - the Bitcoin coins. The sunk costs of PoW can be simulated by burning Bitcoin, similar to concept known as Proof of Burn where Bitcoin are sent to unspendable address. Unlike ICO's, no contributors can take out the Bitcoins and get rewards for free. Unlike PoS, entry into supply lies outside the alt-chain and thus doesn't depend on permission of alt-chain stake-coin holders. It's hard to find a more bandwidth or state size protective blockchain to use other than Bitcoin as well so altcoins can be Bitcoin-aware at little marginal difficulty - 10 years of history fully validates in under a day.

What are typical issues with Proof of Burn?


This should be required for any design for it to stay permissionless. Optional is constant fixed emission rate for altcoins not trying to be money if goal is to maximize accessibility. Since it's not depending on brand new PoW for security, they don't have to depend on massive early rewards giving disproportionate fraction of supply at earliest stage either. If 10 coins are created every block, after n blocks, at rate of 10 coins per block, % emission per block is = (100/n)%, an always decreasing number. Sidechain coin doesn't need to be scarce money, and could maximize distribution of control by encouraging further distribution. If no burners exist in a block, altcoin block reward is simply added to next block reward making emission predictable.
Sidechain block content should be committed in burn transaction via a root of the merkle tree of its transactions. Sidechain state will depend on Bitcoin for finality and block time between commitment broadcasts. However, the throughput can be of any size per block, unlimited number of such sidechains can exist with their own rules and validation costs are handled only by nodes that choose to be aware of a specific sidechain by running its consensus compatible software.
Important design decision is how can protocol determine the "true" side-block and how to distribute incentives. Simplest solution is to always :
  1. Agree on the valid sidechain block matching the merkle root commitment for the largest amount of Bitcoin burnt, earliest inclusion in the bitcoin block as the tie breaker
  2. Distribute block reward during the next side-block proportional to current amounts burnt
  3. Bitcoin fee market serves as deterrent for spam submissions of blocks to validate
sidechain block reward is set always at 10 altcoins per block Bitcoin block contains the following content embedded and part of its transactions: tx11: burns 0.01 BTC & OP_RETURN tx56: burns 0.05 BTC & OP_RETURN ... <...root of valid sidechain block version 1> ... tx78: burns 1 BTC & OP_RETURN ... <...root of valid sidechain block version 2> ... tx124: burns 0.2 BTC & OP_RETURN ... <...root of INVALID sidechain block version 3> ...
Validity is deterministic by rules in client side node software (e.g. signature validation) so all nodes can independently see version 3 is invalid and thus burner of tx124 gets no reward allocated. The largest valid burn is from tx78 so version 2 is used for the blockchain in sidechain. The total valid burn is 1.06 BTC, so 10 altcoins to be distributed in the next block are 0.094, 0.472, 9.434 to owners of first 3 transactions, respectively.
Censorship attack would require continuous costs in Bitcoin on the attacker and can be waited out. Censorship would also be limited to on-sidechain specific transactions as emission distribution to others CPoB contributors wouldn't be affected as blocks without matching coin distributions on sidechain wouldn't be valid. Additionally, sidechains can allow a limited number of sidechain transactions to happen via embedding transaction data inside Bitcoin transactions (e.g. OP_RETURN) as a way to use Bitcoin for data availability layer in case sidechain transactions are being censored on their network. Since all sidechain nodes are Bitcoin aware, it would be trivial to include.
Sidechain blocks cannot be reverted without reverting Bitcoin blocks or hard forking the protocol used to derive sidechain state. If protocol is forked, the value of sidechain coins on each fork of sidechain state becomes important but Proof of Burn natively guarantees trust minimized and permissionless distribution of the coins, something inferior methods like obscure early distributions, trusted pre-mines, and trusted ICO's cannot do.
More bitcoins being burnt is parallel to more hash rate entering PoW, with each miner or burner getting smaller amount of altcoins on average making it unprofitable to burn or mine and forcing some to exit. At equilibrium costs of equipment and electricity approaches value gained from selling coins just as at equilibrium costs of burnt coins approaches value of altcoins rewarded. In both cases it incentivizes further distribution to markets to cover the costs making burners and miners dependent on users via markets. In both cases it's also possible to mine without permission and mine at a loss temporarily to gain some altcoins without permission if you want to.
Altcoins benefit by inheriting many of bitcoin security guarantees, bitcoin parties have to do nothing if they don't want to, but will see their coins grow more scarce through burning. The contributions to the fee market will contribute to higher Bitcoin miner rewards even after block reward is gone.

Sidechain Bitcoin-pegs:

What is the ideal goal of the sidechains? Ideally to have a token that has the bi-directionally pegged value to Bitcoin and tradeable ~1:1 for Bitcoin that gives Bitcoin users an option of a different rule set without compromising the base chain nor forcing base chain participants to do anything different.
Issues with value pegs:
Let's get rid of the idea of needing Bitcoin collateral to back pegged coins 1:1 as that's never secure, independent, or scalable at same security level. As drive-chain design suggested the peg doesn't have to be fast, can take months, just needs to exist so other methods can be used to speed it up like atomic swaps by volunteers taking on the risk for a fee.
In continuous proof of burn we have another source of Bitcoins, the burnt Bitcoins. Sidechain protocols can require some minor percentage (e.g. 20%) of burner tx value coins via another output to go to reimburse those withdrawing side-Bitcoins to Bitcoin chain until they are filled. If withdrawal queue is empty that % is burnt instead. Selection of who receives reimbursement is deterministic per burner. Percentage must be kept small as it's assumed it's possible to get up to that much discount on altcoin emissions.
Let's use a really simple example case where each burner pays 20% of burner tx amount to cover withdrawal in exact order requested with no attempts at other matching, capped at half amount requested per payout. Example:
withdrawal queue: request1: 0.2 sBTC request2: 1.0 sBTC request3: 0.5 sBTC
same block burners: tx burns 0.8 BTC, 0.1 BTC is sent to request1, 0.1 BTC is sent to request2 tx burns 0.4 BTC, 0.1 BTC is sent to request1 tx burns 0.08 BTC, 0.02 BTC is sent to request 1 tx burns 1.2 BTC, 0.1 BTC is sent to request1, 0.2 BTC is sent to request2
withdrawal queue: request1: filled with 0.32 BTC instead of 0.2 sBTC, removed from queue request2: partially-filled with 0.3 BTC out of 1.0 sBTC, 0.7 BTC remaining for next queue request3: still 0.5 sBTC
Withdrawal requests can either take long time to get to filled due to cap per burn or get overfilled as seen in "request1" example, hard to predict. Overfilling is not a big deal since we're not dealing with a finite source. The risk a user that chooses to use the sidechain pegged coin takes on is based on the rate at which they can expect to get paid based on value of altcoin emission that generally matches Bitcoin burn rate. If sidechain loses interest and nobody is burning enough bitcoin, the funds might be lost so the scale of risk has to be measured. If Bitcoins burnt per day is 0.5 BTC total and you hope to deposit or withdraw 5000 BTC, it might take a long time or never happen to withdraw it. But for amounts comparable or under 0.5 BTC/day average burnt with 5 side-BTC on sidechain outstanding total the risks are more reasonable.
Deposits onto the sidechain are far easier - by burning Bitcoin in a separate known unspendable deposit address for that sidechain and sidechain protocol issuing matching amount of side-Bitcoin. Withdrawn bitcoins are treated as burnt bitcoins for sake of dividing block rewards as long as they followed the deterministic rules for their burn to count as valid and percentage used for withdrawals is kept small to avoid approaching free altcoin emissions by paying for your own withdrawals and ensuring significant unforgeable losses.
Ideally more matching is used so large withdrawals don't completely block everyone else and small withdrawals don't completely block large withdrawals. Better methods should deterministically randomize assigned withdrawals via previous Bitcoin block hash, prioritized by request time (earliest arrivals should get paid earlier), and amount of peg outstanding vs burn amount (smaller burns should prioritize smaller outstanding balances). Fee market on bitcoin discourages doing withdrawals of too small amounts and encourages batching by burners.
The second method is less reliable but already known that uses over-collateralized loans that create a oracle-pegged token that can be pegged to the bitcoin value. It was already used by its inventors in 2014 on bitshares (e.g. bitCNY, bitUSD, bitBTC) and similarly by MakerDAO in 2018. The upside is a trust minimized distribution of CPoB coins can be used to distribute trust over selection of price feed oracles far better than pre-mined single trusted party based distributions used in MakerDAO (100% pre-mined) and to a bit lesser degree on bitshares (~50% mined, ~50% premined before dpos). The downside is 2 fold: first the supply of BTC pegged coin would depend on people opening an equivalent of a leveraged long position on the altcoin/BTC pair, which is hard to convince people to do as seen by very poor liquidity of bitBTC in the past. Second downside is oracles can still collude to mess with price feeds, and while their influence might be limited via capped price changes per unit time and might compromise their continuous revenue stream from fees, the leverage benefits might outweight the losses. The use of continous proof of burn to peg withdrawals is superior method as it is simply a minor byproduct of "mining" for altcoins and doesn't depend on traders positions. At the moment I'm not aware of any market-pegged coins on trust minimized platforms or implemented in trust minimized way (e.g. premined mkr on premined eth = 2 sets of trusted third parties each of which with full control over the design).

Brief issues with current altchains options:

  1. PoW: New PoW altcoins suffer high risk of attacks. Additional PoW chains require high energy and capital costs to create permissionless entry and trust minimized miners that are forever dependent on markets to hold them accountable. Using same algorithm or equipment as another chain or merge-mining puts you at a disadvantage by allowing some miners to attack and still cover sunk costs on another chain. Using a different algorithm/equipment requires building up the value of sunk costs to protect against attacks with significant energy and capital costs. Drive-chains also require miners to allow it by having to be sidechain aware and thus incur additional costs on them and validating nodes if the sidechain rewards are of value and importance.
  2. PoS: PoS is permissioned (requires permission from internal party to use network or contribute to consensus on permitted scale), allows perpetual control without accountability to others, and incentivizes centralization of control over time. Without continuous source of sunk costs there's no reason to give up control. By having consensus entirely dependent on internal state network, unlike PoW but like private databases, cannot guarantee independent permissionless entry and thus cannot claim trust minimization. Has no built in distribution methods so depends on safe start (snapshot of trust minimized distributions or PoW period) followed by losing that on switch to PoS or starting off dependent on a single trusted party such as case in all significant pre-mines and ICO's.
  3. Proof of Capacity: PoC is just shifting costs further to capital over PoW to achieve same guarantees.
  4. PoW/PoS: Still require additional PoW chain creation. Strong dependence on PoS can render PoW irrelevant and thus inherit the worst properties of both protocols.
  5. Tokens inherit all trust dependencies of parent blockchain and thus depend on the above.
  6. Embedded consensus (counterparty, veriblock?, omni): Lacks mechanism for distribution, requires all tx data to be inside scarce Bitcoin block space so high cost to users instead of compensated miners. If you want to build a very expressive scripting language, might very hard & expensive to fit into Bitcoin tx vs CPoBB external content of unlimited size in a committed hash. Same as CPoBB is Bitcoin-aware so can respond to Bitcoin being sent but without source of Bitcoins like burning no way to do any trust minimized Bitcoin-pegs it can control fully.

Few extra notes from my talks with people:

Main questions to you:

open to working on this further with others
submitted by awasi868 to CryptoTechnology [link] [comments]

Will Bitcoin miners allow a rogue development team to steal their block rewards

Will Bitcoin miners allow a rogue development team to steal their block rewards submitted by ZakMcRofl to btc [link] [comments]

The next halving and why you should own a bitcoin or two.

I have been able to get some very successful people into bitcoin over the past year. Even during this bear market I have stayed extremely positive. My predictions that I have presented to people have been extremely accurate.
I grew up in a small town in West Virginia. When I was 12 years old my family moved to an even smaller town called Salem WV. Early 1990s. I was starving for communication and social interaction. One day a kid I went to school with invited me over to play his PS1, a game called Loaded had just came out. While we were playing I heard a young man yelling and smashing something. I asked what it was, he said it was his teenage brother. So I walked to his room and there sat a 16 year old with a broken keyboard, irate at his dos screen. I asked him why he was mad, he told me about this thing called the internet. You can talk to people online he said. He was designing a search engine he proclaimed. He showed me how to hook in a phone line so we could send data back and worth when I was home in the country from my computer. He gave me an AOL mod account he hacked and something called AOHell. I quickly found out I could make people online have a terrible experience, I could also trade porn files peer to peer.
I transferred back to a school in the city when I was 15. The gang I ran with rode skateboards. We went to one of my friends houses and in his room with 5 other guys I noticed a computer in the corner. I told them that I could hook a phone line to the back and get porn for free. No one believed me, so that's what I did. The kid was amazed that I could get magic naked girls to appear out of no where. He yelled for his mom to see. I wasn't allowed to come back after that.
I later figured out how to use my scanner at 16 years old and to change my newly issued drivers license age to 21. Soon many of my friends were able to buy beer. I got into trouble over that and then they put holograms on the new IDs.
I figured out how to set up a hacked copy of recording software. Set up a studio to record rap songs when I was 20 years old. It was very exciting.
This is a pattern with technology I have repeated over and over. It's fascinating to me. What can be accomplished with the internet. It is complete freedom.
I ran into bitcoin years ago. A buddy of mine in South Korea told me about it online. So I decided to research it and fell in love with the design. Before this in 2007 I had designed a business and posted it online. It was about taking digital properties off one platform and selling them to other people. In world of warcraft you could mine ore or gold and sell it to other players on Ebay. This was very intriguing to me. I feel very connected to bitcoin because of certain similarities and parallels.
I followed and tinkered with it a bit and fell in love. I never really thought about it as the best investment in the world until the last halving in 2016 and saw what happened in 2017. I remember bitcoin hitting $2000 and thinking it was scary. You couldn't go wrong then and everyone involved looked like a genius. I'd tell people it was going to hit $10,000. Then it did and a couple of my friends sold theirs. I always just spent mine. These crypto charts speak to me. I'm here because I believe I am the best at what I do. I knew the market would turn bear.
It's been very good to me on the small holdings I've been able to accumulate. I came to reddit 6 months ago when John Oliver roasted bitcoin. He said there were hundreds of thousands of people here that were like me. I'm very glad I came and today is my 6 month old birthday on reddit and I've meant some amazing people. Thought I would share in my favorite sub.
What I believe is next:
Bitcoin is a deflationary currency guaranteed to go up in value. This bear market could last a while, it could end this month. It could also stay at a 6000 dollar to 7000 for the next year. What I do know for a fact is that when it is 2021 bitcoin will be over 6 figures. I'd like to think we will be over 10,000 by 2019. The next halving is going to be mid 2020. The 12.5 bitcoin miner reward gets cut to 6.25. What I would recommend you do between now and the next halving is accumulate as much bitcoin as possible. You cannot go wrong at 6000 to 7000, in a 3 to 5 year hold it really won't matter. I am mining and buying as much as possible to this day. If you are sitting on 1 bitcoin come 2025, you'll be very wealthy and never have to work. Things will be very different then. Get your satoshis up and hodl tight. There is no better investment in the world.
Thank you reddit for having me, cheers.
submitted by N8twon to Bitcoin [link] [comments]

What will happen if 2 bitcoin miners finish at the same time? Will they share the mining reward? [Bitcoin Basics Podcast]

What will happen if 2 bitcoin miners finish at the same time? Will they share the mining reward? [Bitcoin Basics Podcast] submitted by CoinCompassBTC to Bitcoin [link] [comments]

Will Bitcoin miners allow a rogue development team to steal their block rewards

Will Bitcoin miners allow a rogue development team to steal their block rewards submitted by ZakMcRofl to CryptoCurrency [link] [comments]

Will Bitcoin miners allow a rogue development team to steal their block rewards (x-post from /r/cryptocurrency)

Will Bitcoin miners allow a rogue development team to steal their block rewards (x-post from /cryptocurrency) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

09-15 09:54 - 'Will Bitcoin miners allow a rogue development team to steal their block rewards' (read.cash) by /u/ZakMcRofl removed from /r/Bitcoin within 0-10min

Will Bitcoin miners allow a rogue development team to steal their block rewards
Go1dfish undelete link
unreddit undelete link
Author: ZakMcRofl
submitted by removalbot to removalbot [link] [comments]

Iran Shuts Down 1,100 Illegal Bitcoin Miners; Whistleblowers Rewarded $2,400

submitted by raaner12 to BitcoinMining [link] [comments]

With Bitcoin Mining Rewards down 50% Where is the Miner Capitulation?

With Bitcoin Mining Rewards down 50% Where is the Miner Capitulation? submitted by paulemmanuelng to CryptoMarkets [link] [comments]

Russia’s New Draft Law Will Ban Crypto Completely And Prohibit Miners From Receiving Rewards (x-post from /r/Bitcoin)

Russia’s New Draft Law Will Ban Crypto Completely And Prohibit Miners From Receiving Rewards (x-post from /Bitcoin) submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

Russia’s New Amendment On Crypto Laws Could See Bitcoin Miners Lose All Their Rewards

Russia’s New Amendment On Crypto Laws Could See Bitcoin Miners Lose All Their Rewards submitted by bitcoinexchangeguide to BitcoinExchangeGuide [link] [comments]

[ Bitcoin ] How will the miners get rewarded when the BTC run out in 2140?

Topic originally posted in Bitcoin by Mapumbu [link]
So, my understanding is that miners get rewarded for pricessing transactions on the blockchain with BTC right? When the BTC run out in 2140, how will they get rewarded? Who will process the transactions then?
Mapumbu your post has been copied because one or more comments have been removed by a moderator. This copy will preserve unmoderated topic. If you would like to opt-out, please PM me.
submitted by anticensor_bot to u/anticensor_bot [link] [comments]

Rollercoin. Online Bitcoin Mining!!! 200 Satoshi for free!!! Block reward increased X2!!! New update!!!!For the next 10 days it will be bigs disscounts on miners. -65% ON ALL EQUIPMENT and -10% ON RLT PURCHASES WITH ETH!!

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submitted by Mortaix to Referral [link] [comments]

Iran Shuts Down 1,100 Illegal Bitcoin Miners; Whistleblowers Rewarded $2,400

Iran Shuts Down 1,100 Illegal Bitcoin Miners; Whistleblowers Rewarded $2,400 submitted by Ranzware to BitNewsLive [link] [comments]

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Miners who migrated their software to Lotus 1.1.0 before the decentralized file storage network's block height reached 170,000 late on Thursday were able to grab their miner rewards, as reported ... Who pays these block rewards and what happens when the Bitcoin block rewards goes to 0. Here we’ll explain everything that is related to Bitcoin block rewards. But before that lets first understand what is Bitcoin mining and how the Bitcoin network functions? Bitcoin Mining. Mining definition: It is a process of obtaining coal or other minerals from the ground. There is coal mining, copper ... Satoshi Nakamoto, Bitcoin’s creator, set the block reward schedule when he created Bitcoin. It is one of Bitcoin’s central rules and cannot be changed without agreement between the entire Bitcoin network. The block reward started at 50 BTC in block #1 and halves every 210,000 blocks. This means every block up until block #210,000 rewards 50 ... Iran’s Power Generation, Distribution, and Transmission Company (Tavanir) has reportedly shut down 1,100 illegal bitcoin mining farms in the country, reduces the rewards miners receive, was widely celebrated within the crypto community. Many crypto fans are betting that Bitcoin, akin to its previous two halvings, could rally in the aftermath.

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