Bitcoin Miner Contemplates Keeping $500,000 Mistakenly Sent by Paxos; Crypto Community Divided
Summary:
Bitcoin miner Chun is reconsidering whether to return 20 BTC worth over $500,000 to Paxos after receiving it by mistake for settling a smaller transaction. Chun seeks advice from the crypto community, who have mixed opinions on the matter. The profitability of Bitcoin mining varies by country, with only 65 countries being profitable for solo miners based on electricity costs. Mining 1 BTC in Lebanon is 783 times cheaper than in Italy.
A Bitcoin miner named Chun is reconsidering returning 20 BTC to crypto exchange Paxos, after receiving it by mistake for settling a smaller transaction. Chun expressed irritation at the person claiming the funds for using the wrong time zone abbreviation. Seeking advice, Chun turned to the crypto community for their opinions. The community's responses have varied, with some arguing that Chun should keep the reward, while others believe it should be distributed among the wider Bitcoin mining community. The profitability of Bitcoin mining varies depending on the country, with a recent report revealing that only 65 countries are profitable for solo miners based on electricity costs. For instance, mining 1 BTC in Lebanon is 783 times cheaper than in Italy, where it costs $208,560.
Published At
9/14/2023 8:45:24 AM
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