Binance blockades the btc blockchain with transactions and mines the majority of those blocks
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Some days ago, binance started to transfer their btc from their old btc addresses to a taprot activated or bc1 address to save on future btc txn fees. This filled a bunch of blocks with almost only their transactions. Yesterday, was the memory usage on ~100% every block was filled almost entirely. Well, so far so good, but there is one problem. About two years ago, launched a new miner pool called Foundry USA. They mined an astounding amount of 273 Blocks last week. That's 27% of all blocks that week. So let's find out where the mined btc from the Foundry USA pool is going. Oh snap it's a binance wallet. Over 700 thousand BTC went through a binance wallet.. yeap you heard that right, that's roughly 80% of the btc rewards or hash power of this pool.. Well the thing is, binance has their own mining pool as well, which also mined 127 blocks the last week. So basically, they took up the whole memepool space for days and mined the majority of these transactions themselves. I don't know if it's just me, but filling up a bunch of blocks and then mining most of them for profit sounds familiar, no? Since nobody know where binance is located at least from a juristic standpoint, I can't say if it's weird that binance mines bitcoin in North America (through the Foundry Pool) or not.. But I definitely can say that CZ can not be trusted and his monopolized approach to the industry and bitcoin (mining and holding) is nothing which should be taken lightly. submitted by /u/thelovetoy |
