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In a stark reminder about one of Bitcoin’s lingering immaturities, Bitcoin Core maintainer and mining pool co-founder Luke Dashjr calculated that Bitcoin transactions might need over 800 confirmations (5.5 days) to reach even 95% odds of finality. In alarming contrast to most orientations that recommend a mere six blocks (one hour) for assurance that a transaction is irreversibly settled, this 800-block figure recalculates that to account for distrust in Bitmain . Was looking to update the hard-coded and obsolete 6-blocks-to-confirm target in the Knots wallet GUI, but doing the math, it looks like due to the Antpool conglomerate having 48% of Bitcoin network hashrate, even getting to 95% secure requires over 800 blocks. — Luke Dashjr (@LukeDashjr) February 8, 2025 In something of an open secret in the bitcoin mining space, Bitmain has maintained significant influence over the sector for years. Bitmain’s templates for blocks of BTC transactions Everybody know...

“The return comes from hashrate, not from pixie dust, ponzi schemes, or rehypothecation,” a Luxor Technology executive stressed. An upcoming Bitcoin (BTC) hashrate-backed product that could offer 10% to 13% returns shouldn’t be compared to failed products by BlockFi or Celsius as its returns come from proof-of-work, not “ponzi schemes,” claims the product’s creator Bitcoin mining firm Luxor Technology. The legitimacy of Luxor’s hashrate-backed product was highlighted in an Oct. 17 What Bitcoin Did podcast. Host Peter McCormack expressed concern at Luxor's upcoming offering and discussed what a worst-case-scenario for Luxor’s product would look like. Luxor’s Head of Derivatives Matt Williams told Cointelegraph that its hashrate-backed product isn’t a repeat of products from BlockFi or Celsius because it's backed by economic production. “There is actual proof-of-work and demonstrable economic activity happening [here].” Williams said. “The return comes from miners giving up some...