Imagine this: you are just an ordinary miner, struggling alone in the vast blockchain world, when suddenly, with a huge bang, you mine a Bitcoin block worth $220,000! It sounds like a fairy tale, but on October 24, such a miracle really happened! According to on-chain data platform Mempool, this lucky miner is from the cryptocurrency mining pool Solo CKPool, and his chance of mining block 867118 was only 0.0000000738%! Are you starting to feel a bit sour about this luck?
Since July, this is already the 4th time a miner has enjoyed a hefty block reward alone. The first time was on July 24, when the Bitaxe series mining machines from Altair Technology mined Bitcoin worth about $210,000 through Solo CKPool. At that time, the price of this mining machine was only $135 to $265, which was simply a windfall from the sky!
So, what exactly is Solo CKPool? It adopts a single-machine mining model, unlike traditional mining pools that concentrate computing power and distribute profits. Here, each participant mines independently, and if a block is mined, the reward is all yours, with no need to share it with others! Doesn’t this feeling of 'one person achieves the way, and the rooster and dog rise to heaven' make you excited too?
But that being said, the total Bitcoin network hash rate is as high as 677.32 EH/s, while CKPool’s hash rate is only 332 PH/s, accounting for just 0.049% of the total network hash rate. This means that mining a block in CKPool is like finding a needle in a haystack! However, this lucky miner did it; he not only found the needle but also pulled out a gold bar!
We can't help but ask, what kind of mining machine is this miner using? Is it the powerful Antminer S19 XP or the relatively smaller Bitaxe? Regardless, his luck is astonishing. For example, the Antminer S19 XP has a hash rate of 140 TH/s, while the total network hash rate is 4,838,000 times that! This means that this miner has only about a 0.0000206% chance of mining a block every 10 minutes. If using Bitaxe, the chances are even slimmer!
Most Bitcoin miners choose to join mining pools to share computing power and distribute rewards evenly. However, some Bitcoin enthusiasts worry that this practice will lead to the centralization of the Bitcoin network. Single-machine mining modes like Solo CKPool have become an alternative in their eyes. Although the chances are slim, if successful, the rewards will be incredibly rich!
This event not only showed us the miracles of Bitcoin mining but also made us think about the future of the Bitcoin network. Should we continue with the centralized mining pool model or explore more diversified mining methods? This is worth pondering.
Finally, I want to say that this lucky miner is undoubtedly the 'mining god' in all our hearts! His story tells us that as long as you have dreams and courage, even if the chances are small, it is still possible to create your own miracles!
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The above content is for informational sharing only and does not constitute any investment advice! Investment carries risks; enter the market with caution!
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