We are proud to announce our latest offering from BTCC Mint, a new physical bitcoin made of Titanium. It’s a large 43 mm coin, containing 1 BTC, which is newly mined from our mining pool.
Some of you might like this... (if you are indeed the serious collectors!)
We had a technical error over the weekend, where we mined 2 blocks in very quick succession, and that resulted in the same coins being funded TWICE! Normally, this doesn't happen, even if we do mine 2 successive blocks in succession.
We're calling these "twins". :-)
They were mined in these two successive blocks:
413,851 -
https://blockchain.info/tx/3fa343fdb02e28ea8e7205499a692cfe810d9751aa85ecd16e02a40c8340214e413,852 -
https://blockchain.info/tx/5b9a7ee3e9c44f9385a82c910a8ece7db25a9b2ae0c41ee36dc042dabf94863eThere are exactly 25 coins in this batch, and this situation is quite RARE!
Even if we tried, we can't guarantee producing "twins" as it requires us mining two successive blocks, one right after the other.
In fact, we've mined other successive blocks in many other cases, and yet it doesn't result in twins. (For example, no twins in these successive blocks: 413,942 & 413,943, as well as blocks 414,025 & 414,026)
Like all good things, there's a slight premium for this batch of 25 coins:
1 BTC premium, on top of the 2 BTC bitcoin value. Total price is 3 BTC.
The coin still says "One Bitcoin", and it'll come in a nice black leather box.
Go here and get it now, before the general public finds out:
https://store.btcc.com/products/2016-v-series-one-bitcoin-rare-double-funding-errorEnjoy this little treat! The early bird gets the worm! :-)
thanks,
Bobby
Call me naive, why would coins be double funded by some rare occurance of blocks found one after the other.
Excellent question. I didn't do a good job explaining it earlier:
When we mine new bitcoins into the physical coin addresses, it's not quite as simple as funding it like others do. The traditional way would only involve making a bitcoin payment, and there's no risk of accidental double funding.
In our case, with the mining pool funding new coins, we actually spread out the work to our 175+ PH/s of miners, for them to mine the next block into the set of 25 coins. (You can see this in the blockchain record.) In the normal case, whenever we successfully mine a block (and thus fund a coin), we reissue new instructions to all of our miners, for them to update the destination address, to now fund a different set of 25 coins.
However, when we find successive blocks very fast, in rare cases, we don't update the miners quickly enough, and they go ahead and find a new block, but deliver the coins to the same set of addresses, which had just been found, seconds or minutes earlier. In that case, we now have twins. The same 25 addresses now have been funded twice, by accident.
Rather than destroying the coins (by peeling sticker and redeeming the BTC value), we're making these special editions available for you to collect.
Like I said earlier, it takes a special mix of factors for this to happen. We routinely mine consecutive blocks, sometimes even 3 in a row. However, it's very rare that the instructions don't get propagated fast enough, where an address gets funded twice.
And with bitcoin, we can't recall the payment! :-)
thanks,
Bobby