The upcoming block halving on May 12 is an event that is being monitored by the entire crypto space, since it will likely have major impacts on the Bitcoin (BTC) market, the markets of all other cryptocurrencies, and the Bitcoin (BTC) mining industry. Even though this event is so big, when it comes down to it, there will be one lucky individual who finds the Bitcoin (BTC) block.
Essentially, Bitcoin (BTC) mining is done in pools, where miners aggregate their hash power to regularly find blocks, as opposed to solo mining which could take years to find a block even with a farm of powerful mining rigs.
However, even though the halving block, which is block 630,000, will be found by a pool, a specific individual within that winning mining pool will be the one who really found the halving block.
Indeed, in 2012 Bitcointalk user laughingbear, who was a member of Slush’s mining pool, found block 210,000, and he said “In case this post somehow goes down in history, I just want to say… F*** The Federal Reserve System.”
Notably, laughingbear had been mining Bitcoin (BTC) for less than a week, and was using a single graphics processing unit (GPU) when he found block 210,000, so he was incredibly lucky. Further, laughingbear only joined Bitcointalk immediately after finding block 210,000, but did go on to become a Hero Member.
Also, laughingbear successfully auctioned off the GPU which he used to find block 210,000 for around 5-10 Bitcoins (BTC) in 2013. The exact amount is undisclosed, but it was somewhere under $1,000.
This shows that the mining rig which finds a halving block can become quite valuable, since like laughingbear said, it is one of the only pieces of Bitcoin’s (BTC) history that you can hold in your hand, and it should be part of a future Bitcoin Museum.
Likewise, a lucky individual in 2016 found block 420,000. Not much is known about this person besides that they go by the pseudonym zzhhzz, and that they were a member of F2Pool, and that they embedded this message in the Coinbase of block 420,000 “h七彩神仙鱼 Chandler Guo loves YangYang Jin.????Mined by zzhhzz”.
Chandler Guo is one of the largest Bitcoin (BTC) miners in China, and YangYang Jin is a famous Soccer/Football player. It is unclear if Chandler Guo is zzhhzz. In any case, Chandler Guo did post this tweet within the past week.
Notably, F2Pool awarded zzhhzz with an extra 1 Bitcoin (BTC), which was worth $650 at the time.
Thus, on May 12 a lucky individual will become the 3rd person in history to find a halving block, and only time will tell who they will be, what pool they will be a member of, if they will have an infamous quote or will embed a message in block 630,000’s Coinbase, if they will win a bonus from the pool, and if they will be able to sell of the specific mining rig that found block 630,000 at a later date for big bucks.
In any case, it is an exciting time to be mining Bitcoin (BTC) right now, since any miner, no matter how big or small, has a chance at winning the block halving lottery and getting all the prestige and bonuses that come along with being one of the only people in history to find a halving block.