So, You’re Telling Me There’s a Chance I Can Mine a Full Block Reward (6.25 BTC) With This?
Blockstream made an April Fool’s joke. And it was a good one, the news was that now you can mine bitcoin on your Blockstream Jade wallet.
I know I loved it.
But apparently Adam Back doesn’t do humour all that well. He went ahead and made it true.
Wait… You thought we were kidding? Update your spare #BlockstreamJade to firmware 0.1.47-miner to get 80,000 chances per second to win 6.25 #Bitcoin! https://jademiner.blockstream.comBlockstream
And as soon as I heard it, I realised I wanted one myself!
You thought I was joking but I went ahead and ordered one. You can get your own Blockstream Jade here https://loveisbitcoin.com/blockstream
It hasn’t been 24 hours and this guy already calls himself a Blockstream Jade Miner. https://twitter.com/bitcoin__help
I think I know where all the new hash rate has been coming from…Rich @bitcoin__help
People are so happy about this.
Awesome, right? I hope it doesn’t heat up too much. I’ll probably place mine right next to my node, I have a fan running on it that should cool it down well enough.
To explain what is happening here, back before the big ASIC machines we had USB miner ASICs, which were pretty much the same thing as this hilarious setup. Any hash has a straight chance, however miniscule, of earning the entire block reward. The current block reward is 6,25 BTC plus mining fees. That is virgin bitcoin awarded from the bitcoin network for your invested Proof of Work.
This firmware makes it a solo miner, you can’t join a pool with it.
You can calculate your chances of earning the block reward on this site. https://solochance.com/
I know you hate math, so let’s do it for you.
Chance per block: 1 in 4,482,551,262,800
Chance per day: 1 in 31,128,828,214
Time estimate: 85,284,461 years
Get a Jade Blockstream wallet here. https://loveisbitcoin.com/blockstream
Will you run the miner on your Jade and get a miniscule chance of earning a whole block reward?
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