What Is A HODL_FEE?
Ah, the Bitcoin network. A beautiful symphony of cryptography, decentralisation, and…sometimes whiny miners? Yes, miners play an essential part in this ecosystem. What started as part of the Bitcoin core system, where everyone would mine themselves as part of running a node, has spun off into a specialised service and legitimate business. While Bitcoin miners […]
Sweden Trying To Drive Out Bitcoin Miners
Sweden consistently ranks among the happiest countries in the world by the happy police but now seems none too pleased with how certain data centre businesses operate within its borders. To outsiders like myself, the country is known for high car safety scorings and assembled furniture brands, but it also holds a surprising title in […]
Why Some Bitcoin Blocks Are Empty?
Bitcoin miners have a clear incentive to maximize their returns with every opportunity they get. You’ve sunk capital into equipment that can only do one thing, and you’re spending electricity you can’t get back. So, making sure you get as much bang for your block can be the difference between running a successful miner and […]
What Is A BitAxe?
The Bitcoin network is an open-source system where anyone can get involved. If you’re investing a meaningful amount of your wealth in the asset, you have a powerful incentive to support it, making attacks harder to perform and ensuring that the network remains decentralised. After securing your funds in cold storage, your first step should […]
Venezuela Seizes Bitcoin Miners
Venezuela’s recent crackdown on Bitcoin miners has the Bitcoin world buzzing and is a harsh reminder that governments can be the biggest NIMBYs around. The decision comes in the wake of a recent confiscation of 2,000 mining devices in the city of Maracay as part of an anti-corruption initiative. Authorities have seized over 11,000 mining […]
What Is The “Sustainable” Miners Reward System?
Bitcoin is lauded for its decentralisation and security, but these qualities come at a cost. You can’t have the hardest money in the world, providing global settlement reliably for over a decade, without dedicating considerable resources to it. While Bitcoin secures well over a trillion dollars in value and settles billions in transactions daily in exchange for […]
The Centralisation Of Mining Rewards
Bitcoin has no shortage of critics, always looking to pick apart the network and find issues with it; these concerns can come from inside the community of those actively working in the space or from outsiders who feel that Bitcoin is just another meme coin that’s boiling the oceans. Attacks on Bitcoin are always a […]
Bitcoin Mining Operations In Africa
According to Chain Analysis, Nigeria ranks second overall on the Global Crypto Adoption Index, Kenya (21), Ghana (29), and South Africa (31) rank high on the index. In no region is Bitcoin more dominant than Sub-Saharan Africa, as Satoshi trades continue to make up a more significant share of transaction volume. P2P markets and local exchanges feed the growing demand […]
Mining Pools Auction Off Their Rare Sats
The Bitcoin mining landscape has become one of fierce competition and razor-thin margins as large private and publicly listed companies and even countries enter the space. The race to secure the next block and win some newly minted Bitcoin along with the fees for that block requires more and more hash rate as more participants join […]
What Is An Invalid Block?
In simple terms Bitcoin is a shared database that is checked by all nodes on the network and any new entry needs to meet certain conditions before a node is willing to add it to the existing shared database. On the surface, Bitcoin can look like a chain of time-stamped blocks; but it takes considerable […]