mined blocked with 11 BTC | Bitcointalksearch.org

safar1980

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Quote from: logfiles on May 14, 2023, 06:38:30 PM

Quote from: safar1980 on May 14, 2023, 12:24:53 PM

Is there a connection between brc-20 tokens and miners? Maybe it's the big miners who finance the brc-20 projects.
Now the commissions in the bitcoin network have already fallen, but the miners managed to make good money.

Miners financing BRC20 projects?

I don't think so, I believe It was just a coincidence and good fortune to them when the transactions fees spiked. It would make sense at all to spend a lot in fees to spam the network, hoping that the pool you are using is going to mine the next block in order to earn the extra transaction fee rewards.

Secondly, the BTC20 tokens spamming the network is not sustainable in the long run, many people would stop using Bitcoin for transactions so it would be a rather short sighted move.

I was joking. But if you think about it, then 5 large pools control more than 80% of all bitcoin mining and if you calculate the total profit, then it is beneficial for them to unite in order to increase commissions.
The big rewards on Ethereum may have been random too, but there were just as many big pools there too.

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Quote from: safar1980 on May 14, 2023, 12:24:53 PM

Is there a connection between brc-20 tokens and miners? Maybe it's the big miners who finance the brc-20 projects.
Now the commissions in the bitcoin network have already fallen, but the miners managed to make good money.

According to the crypto data analytics platform Dune Analytics, the daily minting fees on BRC-20 hit a record high of 247 BTC on May 7. The value shows that the fees reached their highest level in two years.
https://www.bitcoininsider.org/article/214178/brc-20-meme-coins-frenzy-spikes-bitcoin-network-feesм

I dont think so, every miner i know and i think the whole miners only do miner things, they dont get involved in much more, they dont give a shit about BRC-20 or tecnical analysis or whatever other thing related to BTC or cryptos , they only make their work, nothing more and nothing less.

They only do basic maths following the BTC price and follow the new miner machines and with that calculate their ROI and how much they need to buy more or new equipments.

Obvisuly they read the news but i dont think they get involved.

logfiles

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Quote from: safar1980 on May 14, 2023, 12:24:53 PM

Is there a connection between brc-20 tokens and miners? Maybe it's the big miners who finance the brc-20 projects.
Now the commissions in the bitcoin network have already fallen, but the miners managed to make good money.

Miners financing BRC20 projects?

I don't think so, I believe It was just a coincidence and good fortune to them when the transactions fees spiked. It would make sense at all to spend a lot in fees to spam the network, hoping that the pool you are using is going to mine the next block in order to earn the extra transaction fee rewards.

Secondly, the BTC20 tokens spamming the network is not sustainable in the long run, many people would stop using Bitcoin for transactions so it would be a rather short sighted move.

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Quote from: floridaman86 on May 08, 2023, 06:57:53 PM

did something change? the pool I mine with found 3 blocks with 11+ BTC in it today. When I went to mempool to look at some the recently mined blocks, there are several with 11 or 12 BTC in it.
Isn't the blocks supposed to only be 6.25 BTC right now?

It will actually stay at 6.25btc in its mining block reward. We know that a mempool is a collection of all transaction makers that have not yet been included in a block. And the mempool also contains transactions that have been submitted to the network but are not caught. Or it can also be mined transactionally but not yet distributed to all nodes in the network.

That's why if your mining pool saw 3 blocks of more than 11btc, those blocks probably included transactions that had high fees and that's why. So I think the miners really benefited the most because of the integration of transactions.

I have a link that I would like to give you that may help you How many blocks can be made with 1 bitcoin

safar1980

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Is there a connection between brc-20 tokens and miners? Maybe it's the big miners who finance the brc-20 projects.
Now the commissions in the bitcoin network have already fallen, but the miners managed to make good money.

According to the crypto data analytics platform Dune Analytics, the daily minting fees on BRC-20 hit a record high of 247 BTC on May 7. The value shows that the fees reached their highest level in two years.
https://www.bitcoininsider.org/article/214178/brc-20-meme-coins-frenzy-spikes-bitcoin-network-feesм

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Quote from: floridaman86 on May 08, 2023, 06:57:53 PM

did something change? the pool I mine with found 3 blocks with 11+ BTC in it today. When I went to mempool to look at some the recently mined blocks, there are several with 11 or 12 BTC in it.
Isn't the blocks supposed to only be 6.25 BTC right now?

OMG, 6BTC in tx fees? That's a lot. I feel like another wave of mining frenzy is coming. Time to blow dust off your ancient miners and get back to business! Ordinals appear to be a blessing for miners and an issue for everybody else. Cool

floridaman86

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Quote from: NotFuzzyWarm on May 08, 2023, 07:43:16 PM

And the 6 million $ question is: the pool you mine at does pay those massive fees to their users right? Wink

seems like like it, got over 500 sats from those blocks. usually average in the range of 250-300 sats

floridaman86

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Quote from: ajaxtempest on May 09, 2023, 06:58:56 AM

curious OP. What is your setup?
solo or pool?

I have a Futrebit Apollo miner, mining via Braiins Pool

ajaxtempest

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curious OP. What is your setup?
solo or pool?

philipma1957

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Quote from: NotFuzzyWarm on May 08, 2023, 07:43:16 PM

And the 6 million $ question is: the pool you mine at does pay those massive fees to their users right? Wink

yeah viabtc has averaged over.

8 coins a block for 3 days now.

there are other good pools to do.

NotFuzzyWarm

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And the 6 million $ question is: the pool you mine at does pay those massive fees to their users right? Wink

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Quote from: floridaman86 on May 08, 2023, 06:57:53 PM

did something change? the pool I mine with found 3 blocks with 11+ BTC in it today. When I went to mempool to look at some the recently mined blocks, there are several with 11 or 12 BTC in it.
Isn't the blocks supposed to only be 6.25 BTC right now?

Nothing changed in terms of the block rewards, it still is 6.25 BTC, what has been happening in the past few days is that transactions fees became pretty high, some blocks generated more fees than the actual block reward itself, so if your pool got 11BTC, it means 11-6.25 was generated from fees paid by those who had their transactions included in that block.

floridaman86

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did something change? the pool I mine with found 3 blocks with 11+ BTC in it today. When I went to mempool to look at some the recently mined blocks, there are several with 11 or 12 BTC in it.
Isn't the blocks supposed to only be 6.25 BTC right now?

Topic: mined blocked with 11 BTC (Read 233 times)