4 ms·
Yup, for Bitcoin it would mean having the mining power of a big pool, indeed.
by Aissen 5y ago
Yup, for Bitcoin it would mean having the mining power of a big pool, indeed.
- Retric 5y agoNo, just a secret block that isn’t broadcast to everyone. 1 block a week is plenty to pull this off and that’s just 1/1,000th of the worlds mining power. Unless you get really unlucky and the block fails to enter the block chain letting someone else gets credit for the transaction.
- Taek 5y agoIf you're really patient (and many big time criminals are), you only need to mine once every few months, maybe once a year or less. That's still hundreds of thousands of dollars of mining equipment, but well in reach for many.
- Aissen 5y agoI'm curious what it's like, so here is a small calculation. Some metrics: - 144 blocks per day are mined on average - the current network hashrate is 145M TH/s - a 100 TH/s rig is about $10k. The investment to be able to have full control of mining one block on average, without electricity, internet and storage : - per week: you'd need 143k TH/s (145M / (144 * 7)), so about $14M of investment in just the mining rig (provided you can buy it all) - per month: you'd need 33k TH/s, so $3M of mining rig investment. - per year: you'd need 2.7k TH/s, so about $270k in mining rig equipment. Of course, there are a lot of variables here (e.g hashrate is highly variable), but this gives a general idea. All this for a "washing" method that heavily implicates the miner: the address of the new coins is still known, it's not really "clean", just an unusual transaction.