Did This Bitcoin Mining Pool Simply Attempt to Create Cash Out of Skinny Air?

As if 2019 hasn’t been loopy sufficient, earlier at the moment somebody seemingly tried to counterfeit a whole Bitcoin block.

Bitcoin had an invalid block at peak 584,802, as noticed by @juscamarena
All eight nodes at https://t.co/WKQ8hPDGON recognized the block as invalid:
Bitcoin Core zero.18.0Bitcoin Core zero.17.1Bitcoin Core zero.16.2Bitcoin Core zero.10.3bcoinBitcoin Knots zero.14.2btcdLibbitcoin pic.twitter.com/p5WKJ5rO0t
— BitMEX Analysis (@BitMEXResearch) July 10, 2019

AntPool Virtually Pays Itself an Further $15,000-plus
In line with BitMex Analysis and different observers on Twitter, at block quantity 584,802, AntPool tried to publish a block that contained an additional 1.265 BTC in its block reward.

The coinbase worth was too excessive, presumably as a result of this included the transaction charges, however on account of some error the transactions themselves weren’t includedhttps://t.co/gQRh3Gmdor
— BitMEX Analysis (@BitMEXResearch) July 10, 2019

The block contained no transactions and was submitted 21 seconds after block quantity 584,801.

In line with @theinstagibbs, the coinbase suggests @AntPoolofficial is the miner of the invalid blockhttps://t.co/VGTltgTcbf
— BitMEX Analysis (@BitMEXResearch) July 10, 2019

AntPool is seemingly the perpetrator, having used the identical handle and coinbase message for each blocks. AntPool additionally mined the legitimate block quantity 584,802.
Apparently, one thing in AntPool’s software program constructed a block that included charges paid for transactions however no transactions themselves.

Anybody log the complete block?2019-07-10T14:35:27Z ERROR: ConnectBlock(): coinbase pays an excessive amount of (precise=1326546691 vs restrict=1250000000)2019-07-10T14:35:27Z ERROR: AcceptBlockHeader: block 0000000000000000000b47042b90c6a893e6e5cdef70c92beefb88f4c5fa5a69 is marked invalid
— Justin Camarena (@juscamarena) July 10, 2019

Working Out What Occurred Right here
For no matter cause, AntPool was making an attempt to publish a block that paid for lots of transactions however didn’t really embody any of them.
Apparently, the block that finally gained and was printed on the blockchain contained a complete of two,455 transactions and charges of solely zero.64968988, which isn’t removed from 50% of the tried inflation within the first block.
The episode is extraordinarily complicated.
Developer Jameson Lopp believes the bug originated with “block template technology” software program, judging by the timing of the failed block.

Sure, it seems to be just like the block was discovered simply seconds after the earlier block. My guess could be that there was a bug within the block template generator that did not filter out the txn charges from the earlier template being labored upon.
— Jameson Lopp (@lopp) July 10, 2019

Though that’s a great clarification, it’s extra thrilling to think about Jihan Wu and Bitmain trying to destabilize the bitcoin market. As BitMex Analysis identified earlier, a minor drop in worth occurred proper across the identical time.

The timestamp of the invalid block was 14:35:27 UTC, 21 seconds after the earlier block
This seems to have coincided with a drop within the Bitcoin worth, nonetheless that is in all probability solely a coincidence. (The blue line within the under picture represents the timing of the invalid block) pic.twitter.com/PA8EbOY1G9
— BitMEX Analysis (@BitMEXResearch) July 10, 2019

That is coincidental, doubtless.
2019 Brings the Bitcoin Insanity
This different factor we seen taking place in Bitcoin lately was not coincidental, although: somebody was liquidating over 7,000 BTC at $200-$400 under market worth.

so binance was hacked 7000 BTC two months in the past, whole loss = $40++ mil; and at the moment somebody offered 7000+ BTC for $84 mil at $12,100; if that is insider’s job, then they internet $40 mil inside 2 months; shitty alternate it’s… 🤔😒
— Bitcoin Badger (@Emperor_YZ) July 9, 2019

Like we stated: as if 2019 isn’t loopy sufficient, now the long-term “hodlers” are exiting too.
AntPool will doubtless launch an announcement throughout enterprise hours in Beijing. As a subsidiary of Bitmain, which vocally supported the Bitcoin Money laborious fork, AntPool continuously mines Bitcoin blocks.
Luke-Jr, a long-time proponent of strict conventional full-node utilization of the Bitcoin community, seized the chance to ahead his pro-security agenda.

#Bitcoin miner decides to attempt to create 1.265 BTC inflation. Aren’t you glad miners do not get to make the principles?
Are you operating a full node? If not, you’ll be able to’t detect this, and are susceptible to such assaults! https://t.co/uqzCpBbVnj
— Luke Dashjr (@LukeDashjr) July 10, 2019

In nearly no time, one other Twitter person goaded the storied developer into calling Decred a “scamcoin.”

With Bitcoin, miners do not have the final phrase both. No one cares about decred. Why are you pumping scamcoins right here?
— Luke Dashjr (@LukeDashjr) July 10, 2019

The bitcoin worth is at present buying and selling decrease by 6 % to under $12,000.

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