Block #718.124 of the Bitcoin network was mined by a solo miner who manages just 126 TH/s of power on the network; 0,07% of the computational power that this blockchain currently accumulates. This and more news in this practical summary daily so that you are always informed with events most recent that occur within the crypto world.
Cryptocurrencies and altcoins
📍With just 126 TH/s in Bitcoin, a solo miner keeps all the rewards of block #718.124. The data on-chain show that block #718.124 of the Bitcoin network was mined this Tuesday by a solo miner, who had a 1 in 10.000 chance of mining a block within the network. The difficulty current of Bitcoin (BTC) exceeds 24 trillion (T). However, this was not an impediment for a solo miner from the Solo.ckpool.org pool to claim all the rewards of Bitcoin block #718.124, with only 0,07% of the pool's computing power. blockchain.
Software developer and administrator of Solo.ckpool.org, Con Kolivas, highlighted the luck of the solo miner as “a once-in-a-lifetime opportunity.” Typically, blocks on the Bitcoin network are mined by large miners or mining companies, which handle a significant portion of the network's computing power. However, as Kolivas noted, “there is no reason why even the smallest miner cannot solve a block.” In July of last year, another solo miner operating with the same pool managed to mine block #689.382. Said miner had only 100 TH/s of Bitcoin power at the time he managed to extract the block.
Bitcoin and Blockchain Adoption
📍JP Morgan clients bet on 60K Bitcoin in 2022. A survey by JP Morgan revealed that at least half of its clients expect to see Bitcoin at an average value between $60.000 and $80.000 this year. According to the data published According to Bloomberg, 50% of the financial company's clients estimate that BTC will reach these values, while only 5% are betting that the price of the cryptocurrency will exceed $100.000 per unit. Another 43% of respondents consider that BTC could be between $20.000 and $40.000, while 2% estimate that its price will fall to $10.000 per BTC.
📍Block is looking for personnel to drive the decentralization of Bitcoin mining and develop its new digital wallet. Through the professional social network LinkedIn, Block (formerly Square) published two job offers to promote their projects in the Bitcoin network. First, Jack Dorsey's company is looking for a qualified person to build and develop a Bitcoin mining system more decentralized and accessible to everyone, based on silicon. Also, the company is looking for a candidate to help it develop a Bitcoin hardware wallet, to drive mass adoption of cryptocurrency.
📍Uruguayans launch Bitcoin ATM with more than 1.000 transactions on its first day. According to report From the EFE news agency, the Bitcoin and other cryptocurrencies ATM installed in Uruguay, in the town of Punta del Este, received more than 1.000 cryptocurrency transactions on its first day of operations.
Rules and Regulations
📍Cryptocurrency mining is labeled “obsolete” in China. Un release issued by China's National Development and Reform Commission on Amendments shows that Bitcoin and PoW cryptocurrency mining has been marked as “obsolete” in the Asian country. With this action, China, which began a battle against cryptocurrencies in the middle of last year, gives another blow to the crypto industry in order to eradicate this activity in its territory.
📍The United States Federal Reserve is preparing to present its report on cryptocurrencies in the coming weeks. Jerome Powell, president of the FED, reported during a The hearing of the Senate Banking Committee that will soon present its report on cryptocurrencies and digital assets, where it is expected to address the issue of a CBDC for the dollar and the regulation of stablecoins. Powell noted that the report is ready to be presented and used. However, the changes that the regulator is implementing in its monetary policy have delayed its presentation.
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