Cryptocurrency

Bitcoin ETF

Bitcoin

<div class="finbold">
 <p class="paragraph">The largest Bitcoin (BTC) mining pool, AntPool, intends to refund the 83 BTC ($3.13 million) overpaid fee. On November 23, an unknown address sent 55 BTC to another unknown address for a cost of 150% of the received amount.</p>
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 <p class="paragraph">Notably, AntPool announced on November 30 the willingness to <a rel="noopener noreferrer nofollow" title="refund" href="https://thebittimes.com/tag/refund.html">refund</a> the owner of the 83 BTC. In the announcement, BITMAIN’s mining pool explained its security system froze the <a rel="noopener noreferrer nofollow" title="overpaid" href="https://thebittimes.com/tag/overpaid.html">overpaid</a> amount and provided instructions for the <a rel="noopener noreferrer nofollow" title="refund" href="https://thebittimes.com/tag/refund.html">refund</a>.</p>
 <p class="paragraph">The anonymous entity must use their private key to sign a message from the overpaying address saying “AntPool.” Then, send the signed text to the pool’s support email address in order to retrieve their funds.</p>
 <p class="paragraph">As announced, this process must happen until December 10, when the fees will finally be distributed to Antpool’s miners if nobody is able to prove ownership.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="562" src="https://cdn.thebittimes.com/images/2023/11/30/16451c168095436b944ed3485c775919.webp" alt class="wp-image-140533" srcset="https://cdn.thebittimes.com/images/2023/11/30/16451c168095436b944ed3485c775919.webp 1024w, https://cdn.thebittimes.com/images/2023/11/30/16451c168095436b944ed3485c775919.webp 300w, https://cdn.thebittimes.com/images/2023/11/30/16451c168095436b944ed3485c775919.webp 768w, https://cdn.thebittimes.com/images/2023/11/30/16451c168095436b944ed3485c775919.webp 1536w, https://cdn.thebittimes.com/images/2023/11/30/16451c168095436b944ed3485c775919.webp 1868w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Announcement for claiming 83BTC gas fee. Source: <em>AntPool</em>
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 <h2 class="wp-block-heading" id="h-antpool-and-f2pool-precedents-for-fee-refunding">AntPool and F2Pool precedents for fee refunding</h2>
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 <p class="paragraph">Previously, F2Pool <a rel="noopener noreferrer nofollow" title="refund" href="https://thebittimes.com/tag/refund.html">refund</a>ed a 19 BTC fee to Paxos, making this the second fee-<a rel="noopener noreferrer nofollow" title="refund" href="https://thebittimes.com/tag/refund.html">refund</a>ing event in 2023. Both events create a precedent for Bitcoin transaction fee dynamics and miners’ revenue.</p>
 <p class="paragraph">At this point, 40% of Bitcoin’s current hashrate is managed by these two mining pools actively <a rel="noopener noreferrer nofollow" title="refund" href="https://thebittimes.com/tag/refund.html">refund</a>ing transaction fees. Antpool is responsible for 28.37% and F2Pool for 11.31% of the global BTC block discovery and fee collection.</p>
 <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="517" src="https://cdn.thebittimes.com/images/2023/11/30/036b3a1c41510ef24a8fbad2552c5dd2.webp" alt class="wp-image-140534" srcset="https://cdn.thebittimes.com/images/2023/11/30/036b3a1c41510ef24a8fbad2552c5dd2.webp 1024w, https://cdn.thebittimes.com/images/2023/11/30/036b3a1c41510ef24a8fbad2552c5dd2.webp 300w, https://cdn.thebittimes.com/images/2023/11/30/036b3a1c41510ef24a8fbad2552c5dd2.webp 768w, https://cdn.thebittimes.com/images/2023/11/30/036b3a1c41510ef24a8fbad2552c5dd2.webp 1188w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Bitcoin mining pool weekly ranking. Source: <em>mempool.space</em>
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 </figure>
 <p class="paragraph">Meanwhile, F2Pool was also spotted actively filtering OFAC-sanctioned transactions. This event raised criticism, and the former third-largest mining pool lost its position to ViaBTC in the last three days.</p>
 <p class="paragraph">Critics point toward a break in the incentives for miners, who were expected to collect their share of these <a rel="noopener noreferrer nofollow" title="overpaid" href="https://thebittimes.com/tag/overpaid.html">overpaid</a> fees. Interestingly, some speculate that the overpayment was not a mistake and everything was working as intended.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/antpool-to-refund-the-overpaid-83-btc-fee-of-last-week-tbt72209.html">https://thebittimes.com/antpool-to-refund-the-overpaid-83-btc-fee-of-last-week-tbt72209.html</a></p>

AntPool to refund the overpaid 83 BTC fee of last week

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