Author: dfmines

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Small-time bitcoin miners are making headlines for essentially hitting the jackpot by mining full blocks all on their own. In what has become a modern-day ‘gold rush’, bitcoin enthusiasts are now taking to booting up small USB miners will tiny hash rates to try their luck in what is eerily similar to buying lottery tickets. Among the miners who have rushed to this, a few have hit the ultimate prize. Solo Bitcoin Miner Gets Full Block In an unlikely event, a solo miner was able to mine a full bitcoin block with a low hash rate. This was made public by Dr. Kolivas, a software engineer that contributed to the development of the Cgminer. He revealed that the solo bitcoin miner had been able to solve a full block by themselves using only 86TH. This took place at a block height of 270,175. Congratulations to another miner with approximately 86TH solving a solo block on https://t.co/UWgBvLkDqc ! There are a lot more miners now on the solo pool and if enough people are mining solo, someone will eventually be the lucky one as here. https://t.co/Hqte2achR4 pic.twitter.com/0ZT635LicD — Dr. Con Kolivas (@ckpooldev) January 24, 2022 Related Reading | Bitcoin Leverage: Lack Of Liquidations Could Indicate Another Wave Of Selling  The miner who is part of a mining pool that allows solo miners pool their hash rates together to increasing their chances of solving a block was able to get the full block reward after solving. The miner had gotten the full block reward of 6.25 BTC, netting them a total of more than $220,000 at current prices, in addition to the transaction fee paid to the block miner. With such low computational power as the one possessed by this miner, it makes it near impossible for them to be able to mine a block by themselves. They would not be the first to get lucky. Two weeks ago, another solo miner from the same mining pool had hit the same jackpot, mining a block and earning the full block reward plus transaction fees. The BTC Rush One thing about proof of work mechanisms is the high computation power required to mine bitcoin blocks. As more players enter into the mining space, armed with millions of dollars in institutional backing, being a small-time miner is nearly unprofitable. This is why mining pools like the ckpool exist. BTC recovers above $36,000 | Source: BTCUSD on TradingView.com In these pools, solo miners are able to bring their low computational power together to increase their chances of finding a block. Dr. Kolivas explained that while this miner had fluctuated in their mining power, they were able to solve the block with only 8.3 terahashes. Related Reading | Anthony Scaramucci Urges Bitcoin Holders To Think Long-Term As Downtrend Won’t Last Laying out the math, he explained that by pooling their hashes, miners were able to increase their chances of solving a block to a 1 in 5 chance or a 20% chance. As more miners join the pool, the chances to go solve a block go up. In a reply to another user, Dr. Kolivas explains that if the current hashrate were to increase by 4, then the chances of mining a block jump to 63%. Featured image from Pinterest, chart from TradingView.com

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https://discord.gg/SV4kY35K general-chat-🏯 => ask questions! (modificato) resources-🍜 => share your resources in the general chat this tag ! (modificato) project-presentations-👥 => share your personal project crypto-chat => chatting about crypto and new projects submitted by /u/20exit [link] [comments]

The IRS is hot on the trails of cryptocurrency and non-fungible tokens. They see these as fertile grounds for fraud, including tax evasion, market manipulation, and money laundering. Unfortunately, whether it’s a celebrity or not, people are always susceptible to getting into the trap. The popularity of digital assets has created a new challenge for government agencies to regulate this modern-day currency. Regulators are working out how best to enforce existing laws and deter investors from engaging with criminal activity. But it will be an uphill battle without more resources or workforce. The Los Angeles field office of the IRS’ criminal investigation division is on a task to pursue tax crimes and related financial matters. “We’re just seeing mountains,” said Ryan Korner, their special agent-in-charge. Late Tuesday, at a virtual event, Korner said that celebrities are not immune to criminal probes from IRS. “We’re out there looking for anyone who makes openly or deliberately blatant statements requesting intervention on behalf of our agency,” he added, also referring specifically in this case towards an investigation into tax evasion, which may lead them to be more discreet about their finances in the future if found guilty. IRS Crack Down on Crypto Financers The IRS is cracking down on cryptocurrency financers. The investigative division of the agency seized $3.5 billion worth in assets during 2021, accounting for 93% of all financial crimes seizure by them that time frame, and they ended up with 80 cases still actively working where their primary violation was tied to cryptocurrency activity. When law enforcement agencies see people paying millions for digital assets, like NFTs, without any inherent value, they can be curious. Korner says criminals could use these purchases as cover and launder money from criminal enterprises like drug trafficking. The rising concern among law enforcement officers is especially apparent with recent incidents where criminals have purloined vast sums from innocent victims using cryptocurrency transactions which allow them anonymity while transferring funds internationally. The market is flooded with NFTs and crypto, making it easy for manipulation. High-profile investors have the power to sway prices with just one tweet. Floyd Mayweather and DJ Khaled are no strangers when promoting social media campaigns. Still, this time the Federal Agency hit the two with Federal charges for failing to disclose their ties after running an advertising scheme in which certain companies paid them. The Internal Revenue Service is investing in training all of its agents. So they will know how to deal with crypto and NFT affairs. Because “this space represents the future,” according to Korner. The head of the agency says they’re working closely with other federal agencies, including the Justice Department. This way, everyone can stay ahead in their respective fields while ensuring they’re all working together seamlessly against criminals. Featured image from Pixabay, chart from TradingView.com  

Turns out that some NFTs might be building collections of their own. Their target? Your private data.

Hi, I wondered, if someone could tell me or give me some website where you can track this. How much of the Ethereum network is used by NFTs? submitted by /u/nightspite [link] [comments]

The price of cosmos (ATOM) continued to decline on Thursday, while sandbox rallied following its partnership with Warner Music Group. Overall, crypto prices were trading 3% lower in today’s session, after yesterday’s FOMC announcement. Biggest gainers The token sandbox (SAND) was one of Thursday’s biggest gainers, climbing by as much as 8 %, as prices […]

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