{"id":12700,"date":"2024-04-18T16:18:41","date_gmt":"2024-04-18T13:18:41","guid":{"rendered":"https:\/\/forklog.com\/en\/foundry-pool-to-share-profits-from-potential-epic-satoshi-mining\/"},"modified":"2024-04-18T16:18:41","modified_gmt":"2024-04-18T13:18:41","slug":"foundry-pool-to-share-profits-from-potential-epic-satoshi-mining","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/foundry-pool-to-share-profits-from-potential-epic-satoshi-mining\/","title":{"rendered":"Foundry Pool to Share Profits from Potential &#8216;Epic&#8217; Satoshi Mining"},"content":{"rendered":"<p>The team at Foundry USA mining pool plans to distribute profits from the commercialization of an &#8216;epic&#8217; <span data-descr=\"one hundred millionth of a bitcoin\" class=\"old_tooltip\">satoshi<\/span> (epic sat) among participants, should they mine the first Bitcoin block post-halving.<\/p>\n<p>A screenshot of the announcement was <a href=\"https:\/\/twitter.com\/wsfoxley\/status\/1780666887950540842\">shared<\/a> by The Mining Pod podcast host Will Foxley. A similar message was <a href=\"https:\/\/twitter.com\/TO\/status\/1780670465545003186\">posted<\/a> by Ethereum Ninjalerts CEO Trevor Owens.<\/p>\n<p>Experts have previously noted that miners are on the hunt for the epic sat. Some estimates suggest the asset&#8217;s price could reach $50 million. However, according to the classification by Ordinals protocol creator and Bitcoin developer Casey Rodarmor, the first satoshi post-halving does not rank highly in terms of rarity.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We have taken steps to isolate the epic sat if Foundry USA mines this block, and we will make reasonable efforts to monetize it and distribute 100% of the proceeds among pool participants,&#8221; the statement reads.<\/p>\n<\/blockquote>\n<p>The allocation of potential profits will be based on users&#8217; hash rate over a 24-hour period on the day of the block reward reduction.<\/p>\n<p>The Foundry team added that &#8220;further communication&#8221; will occur after profits are realized.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;The concept of &#8216;rare&#8217; satoshis is so idiotic it seems like satire&#8230; But honestly, hats off to the people selling it \u2014 it&#8217;s truly a legendary scam designed to convince people to pay more,&#8221; <a href=\"https:\/\/twitter.com\/WalkerAmerica\/status\/1780740820137574900\">commented<\/a> Titcoin podcast host known as Walker.\u00a0<\/p>\n<\/blockquote>\n<p>A user with the pseudonym infopocalypse expressed a similar sentiment:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Sat is just a unit of measurement. There is no 1st sat. This is a scam.&#8221;\u00a0<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Sat is just a unit of measurement. There is no 1st sat. This is a scam.<\/p>\n<p>\u2014 infopocalypse (@infopocalypse1) <a href=\"https:\/\/twitter.com\/infopocalypse1\/status\/1780818439915102536?ref_src=twsrc%5Etfw\">April 18, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Renowned Ordinals critic and Bitcoin developer Luke Dashjr also joined the criticism.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Foundry isn&#8217;t every miner. And the correct term for this is SCAMMING<\/p>\n<p>\u2014 Luke Dashjr (@LukeDashjr) <a href=\"https:\/\/twitter.com\/LukeDashjr\/status\/1780707629754712550?ref_src=twsrc%5Etfw\">April 17, 2024<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\u00a0<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Foundry doesn&#8217;t represent all miners. And the correct term for this is scamming,&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>Comments noted it would be &#8220;poetic&#8221; if the epic sat were mined by the Ocean pool, co-founded by the programmer. However, responses pointed out the low likelihood due to the pool&#8217;s small share of Bitcoin&#8217;s hash rate.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-eu.googleusercontent.com\/nAZpR9dyFqMz2s0bv5O-ndnbi_FKEhUcOhwpXMLpe7sbuiRTN9VUrdqT8U68yDa15J1yy3lwaqToDTXvTZFK5qmWVdgFLI1DFhiz6LZ-D6Na4k9DkVVk6KpWy7kWk6fbGk6gB9BN5mx4wEBNO2QJo-U\" alt=\"Foundry Pool to Share Profits from Potential 'Epic' Satoshi Mining\"\/><figcaption class=\"wp-element-caption\">Share of pools in Bitcoin&#8217;s hash rate. Data: <a href=\"https:\/\/explorer.btc.com\/btc\/insights-pools\">BTC.com<\/a>.<\/figcaption><\/figure>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;Years from now, we&#8217;ll look back and laugh at how foolish this scam was. &#8216;Satoshis&#8217; don&#8217;t exist. It&#8217;s a unit of measurement defining the size of a specific <span data-descr=\"unspent transaction output\" class=\"old_tooltip\">UTXO<\/span>,&#8221; <a href=\"https:\/\/twitter.com\/MartyBent\/status\/1780677459161313620\">supported the skeptics<\/a> TFTC media project founder Marty Bent.<\/p>\n<\/blockquote>\n<p>In response to the criticism, Foxley noted that Foundry had claimed the &#8220;first in block sat.&#8221;<\/p>\n<p>Following the halving, the launch of Rodarmor&#8217;s Runes protocol is anticipated as a competitor to the BRC-20 standard based on Ordinals. The solution has already sparked excitement among users.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The team at Foundry USA mining pool plans to distribute profits from the commercialization of an &#8216;epic&#8217; satoshi (epic sat) among participants, should they mine the first Bitcoin block post-halving. A screenshot of the announcement was shared by The Mining Pod podcast host Will Foxley. A similar message was posted by Ethereum Ninjalerts CEO Trevor [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":12699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1506,1176],"class_list":["post-12700","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-foundry","tag-ordinals"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12700","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=12700"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/12700\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/12699"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=12700"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=12700"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=12700"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}