Will the 256 Foundation Hit a Block Tomorrow?
They've done it before!
I’d be stoked to see them hit a block. First, for funding open source Bitcoin mining development as they do. Second, I’m always rooting for the good guys and the little guys to hit a block.
I don’t care who wins as long as it’s not a giant pool!
You can help the 256 Foundation with their Telehash tomorrow by donating hashrate through Rigly.
If you’ve ever tried to pool hashrate to hit a block like we do at Rigly, you know how hard it is. We’ve come so close, yet the difficulty has remained high.
The 256 Foundation has done it before.
At Rigly, in 24 block parties with a variety of different variables over the past 18 months, we’ve yet to hit a block. One year ago, we even amassed 7 EH/s when some whale buys came in during the Bitcoin Conference in Vegas. We still haven’t hit. Whitepool hit with 6 EH/s today. The block that came after them? F2Pool got it with much more hashrate than that! F2 is rockin’ 145 EH/s.
It’s still essentially a lotto. If it were easy, everyone would do it. It’s not always the pool with the most hashrate winning, which is why we never give up.
There’s a reason you see mostly big name pools hit blocks. Bitcoin mining is rather unforgiving. The guys in this pie chart are able to provide the hashrate needed to hit regularly and it’s hard to compete.
Again, it’s a lotto. So it’s not impossible, but it is improbable. This is why we celebrate whenever a small pool finds a block. It’s not that small pools don’t manage to find blocks. It’s that the big pools make it tougher for the little guy. See any little guys in the past several blocks? Nope.
In case you haven’t noticed, I get involved with decentralizing all the things. I like to boost the plebs so we little guys don’t get boxed out. Centralization is the enemy of Bitcoin mining (and most good things).
Do we want these few companies above controlling the pie?
Every Bitaxe is a vote against this. Every time you join others to pool hashrate, it’s a vote against it.
So while I’ll be promoting another Rigly Block Party coming up soon as I always do, today I have a different ask.
Please support the 256 Foundation in their fight against Bitcoin mining becoming completely corporate.
Donate hashrate or point your miner their way tomorrow. (Solo mining directions here for copy/paste).
They’ll stream it live on X from Bitcoin Park in Austin. I hope to see it go down again like this:
May the odds be in your favor, and may the hashrate be high af.