Alone against all, a bitcoin miner stuns the industry and hits the jackpot

In the perpetual race of bitcoin miners around the world, the advantage usually belongs to those who can use the largest artillery in terms of computing power. But from time to time, it’s kind of like an indirect homage to Satoshi Nakamoto’s original vision when founding bitcoinFor a moment, the balance rebalances. In doing so, it returns the advantage to a single individual who, on paper, appears to have no (or very little) chance. Today’s illustration with a lucky guy who made his mining equipment profitable for the next 30 years.

When Bitcoin looks good

As a knowledgeable and regular reader of the Journal du Coin, you understand the extraordinary power of Bitcoin network Guaranteed in particular by the strategic actors: the miners.

The latter thus engages in a race that is as enduring as it is strategic, a struggle where computing power (expressed in Tera-Hash) acts as a weapon and Hashrate as a battlefield.

As a result, the famous “block reward”, 6.25 bitcoinsabout $140,000 at the time of writing, is delivered every 10 minutes to the miner who first finds the answer to a very complex math puzzle.

In 2023, no one will be surprised to learn that timpani is often won by actors working in a “pool” (i.e. pooling their resources). And the Holy Grail is being won more and more by highly regulated, and even now publicly listed, companies (which have not escaped the giant BlackRock that has entered the sector on a large scale, before experiencing some disappointments).

But sometimes the stats frustrate this implicit rule for the strongest reward, much to the delight of a “small” miner, and that’s exactly what happened a few days ago.

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When Bitcoin fines Lotto

On average, you have a 1 in 20 million chance of winning the lotto jackpot. In the intermediate case of file fragmentation Bitcoin networkHowever, you have a better statistical chance of hitting the jackpot than being a victorious miner in the block race, with a chance of… at roughly 30 million or so.

However, this is what happened a few days ago to a (senior) lucky man who, from his only device, crowned the office for a moment – and mass The entire global industry.

With only 0.000000037% of the total computing power in the Bitcoin blockchain, the interested party was the first to submit valid hash, he regained 98% of the bet (the remaining 2% is held by the individual miner pool in which he was developing). 6.20 BTC (fees deducted), a nest egg worth $140,000 at the time of writing.

Although the event is exceptional from a strict statistical standpoint, it was not the first in the recent past of bitcoin mining. In January 2022, two lone miners have already thwarted fate, math, By capturing the famous timpani cryptocurrency.

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