{"id":139,"date":"2016-03-31T02:55:17","date_gmt":"2016-03-31T02:55:17","guid":{"rendered":"http:\/\/bitcoinwhoswho.com\/blog\/?p=139"},"modified":"2016-04-02T06:26:07","modified_gmt":"2016-04-02T06:26:07","slug":"the-ever-popular-deepbit-mining-pool-address","status":"publish","type":"post","link":"https:\/\/www.bitcoinwhoswho.com\/blog\/2016\/03\/31\/the-ever-popular-deepbit-mining-pool-address\/","title":{"rendered":"The Ever Popular DeepBit Mining Pool Address"},"content":{"rendered":"<p><figure id=\"attachment_143\" aria-describedby=\"caption-attachment-143\" style=\"width: 150px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" src=\"http:\/\/bitcoinwhoswho.com\/blog\/wp-content\/uploads\/2016\/02\/deepbit_interface-300x216-150x150.png\" alt=\"deepbit.net mining pool\" width=\"150\" height=\"150\" class=\"size-thumbnail wp-image-143\" srcset=\"https:\/\/www.bitcoinwhoswho.com\/blog\/wp-content\/uploads\/2016\/02\/deepbit_interface-300x216-150x150.png 150w, https:\/\/www.bitcoinwhoswho.com\/blog\/wp-content\/uploads\/2016\/02\/deepbit_interface-300x216-100x100.png 100w\" sizes=\"(max-width: 150px) 100vw, 150px\" \/><figcaption id=\"caption-attachment-143\" class=\"wp-caption-text\">Old DeepBit.net mining pool home<\/figcaption><\/figure>The bitcoin address of long defunct mining pool DeepBit [<a href=\"http:\/\/bitcoinwhoswho.com\/address\/1VayNert3x1KzbpzMGt2qdqrAThiRovi8\/\" target=\"_blank\">1VayNert3x1KzbpzMGt2qdqrAThiRovi8<\/a>] is still somehow crazy popular. According to Blockchain.info&#8217;s &#8220;<a href=\"https:\/\/blockchain.info\/popular-addresses\" target=\"_blank\">Popular Addresses<\/a>&#8221; page, DeepBit holds the #8 overall ranking for most frequently used bitcoin address. But how can a defunct mining pool, that hasn&#8217;t found a block since 2013, and has only 47 transactions since January 1, 2015, still hold the #8 overall popularity ranking based on # transactions? <\/p>\n<p>The most likely explanation has to do with the significance of DeepBit in the early days of bitcoin history.<!--more--><\/p>\n<p><strong>Wildly Popular Pool<\/strong><br \/>\nAt one point in mid-2011 the mining pool controlled more than 50.18% of the overall bitcoin network prompting <a href=\"https:\/\/bitcointalk.org\/index.php?topic=26745.0;all\" target=\"_blank\">near panic<\/a> in the <a href=\"https:\/\/www.reddit.com\/r\/Bitcoin\/comments\/hueo5\/deepbit_pool_owner_pulls_in_112_an_hour_controls\/\" target=\"_blank\">community<\/a>. It&#8217;s comical in retrospect that this was achieved with little over 3000 GH\/s. Quaint today, but at the time that averaged about 2 blocks found an hour!<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">We are over 3000 GH\/s now ! \ud83d\ude42<a href=\"https:\/\/twitter.com\/hashtag\/bitcoin?src=hash\">#bitcoin<\/a><\/p>\n<p>&mdash; DeepBit.net (@deepbit_net) <a href=\"https:\/\/twitter.com\/deepbit_net\/status\/82050132748668928\">June 18, 2011<\/a><\/p><\/blockquote>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In it&#8217;s heyday until late 2012 the DeepBit mining pool was basically the only game in town, known for its reliability and reasonable 3% fee.<\/p>\n<figure id=\"attachment_231\" aria-describedby=\"caption-attachment-231\" style=\"width: 560px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.blocktrail.com\/BTC\/address\/1VayNert3x1KzbpzMGt2qdqrAThiRovi8\" rel=\"attachment wp-att-231\"><img loading=\"lazy\" src=\"http:\/\/bitcoinwhoswho.com\/blog\/wp-content\/uploads\/2016\/04\/Screen-Shot-2016-04-02-at-12.30.11-AM.png\" alt=\"Source: BLOCKTRAIL\" width=\"560\" height=\"365\" class=\"size-full wp-image-231\" srcset=\"https:\/\/www.bitcoinwhoswho.com\/blog\/wp-content\/uploads\/2016\/04\/Screen-Shot-2016-04-02-at-12.30.11-AM.png 560w, https:\/\/www.bitcoinwhoswho.com\/blog\/wp-content\/uploads\/2016\/04\/Screen-Shot-2016-04-02-at-12.30.11-AM-300x196.png 300w\" sizes=\"(max-width: 560px) 100vw, 560px\" \/><\/a><figcaption id=\"caption-attachment-231\" class=\"wp-caption-text\">DeepBit.net transactions 11.18.11 to 3.8.16<br \/>\nSource: BLOCKTRAIL<\/figcaption><\/figure>\n<p><strong>Commanding Lead<\/strong><br \/>\nAs of this post the DeepBit address is linked to 786,916 transactions, which is a significant .65% of all transactions on the blockchain. To put that in perspective, the only other mining pool address among the top 100 most popular is #14 ranked <a href=\"https:\/\/www.eobot.com\/\" target=\"_blank\">Eobot<\/a> [<a href=\"http:\/\/bitcoinwhoswho.com\/address\/1MPxhNkSzeTNTHSZAibMaS8HS1esmUL1ne\/\" target=\"_blank\">1MPxhNkSzeTNTHSZAibMaS8HS1esmUL1ne<\/a>] with 394,313 transactions. At Eobot&#8217;s current pace (based on the last two months ~1698 trans.\/month), it will take approximately 19 years for them to overtake DeepBit in &#8220;popularity&#8221;.<\/p>\n<p>At one point in 2014 the Ghash.io mining pool held ~51% of the hashing power of the network but their address [<a href=\"http:\/\/bitcoinwhoswho.com\/address\/1CjPR7Z5ZSyWk6WtXvSFgkptmpoi4UM9BC\/\" target=\"_blank\">1CjPR7Z5ZSyWk6WtXvSFgkptmpoi4UM9BC<\/a>] is linked to only a fraction of the transactions (33,576).<\/p>\n<figure id=\"attachment_252\" aria-describedby=\"caption-attachment-252\" style=\"width: 562px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.blocktrail.com\/BTC\/address\/1CjPR7Z5ZSyWk6WtXvSFgkptmpoi4UM9BC\" rel=\"attachment wp-att-252\"><img loading=\"lazy\" src=\"http:\/\/bitcoinwhoswho.com\/blog\/wp-content\/uploads\/2016\/03\/Screen-Shot-2016-04-02-at-2.19.08-AM.png\" alt=\"Source: BLOCKTRAIL\" width=\"562\" height=\"326\" class=\"size-full wp-image-252\" srcset=\"https:\/\/www.bitcoinwhoswho.com\/blog\/wp-content\/uploads\/2016\/03\/Screen-Shot-2016-04-02-at-2.19.08-AM.png 562w, https:\/\/www.bitcoinwhoswho.com\/blog\/wp-content\/uploads\/2016\/03\/Screen-Shot-2016-04-02-at-2.19.08-AM-300x174.png 300w\" sizes=\"(max-width: 562px) 100vw, 562px\" \/><\/a><figcaption id=\"caption-attachment-252\" class=\"wp-caption-text\">Ghash.io transactions 7.6.13 to 3.31.16<br \/>\nSource: BLOCKTRAIL<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The bitcoin address of long defunct mining pool DeepBit [1VayNert3x1KzbpzMGt2qdqrAThiRovi8] is still somehow crazy popular. According to Blockchain.info&#8217;s &#8220;Popular Addresses&#8221; page, DeepBit holds the #8 overall ranking for most frequently used bitcoin address. But how can a defunct mining pool, that hasn&#8217;t found a block since 2013, and has only 47 transactions since January 1, &hellip; <a href=\"https:\/\/www.bitcoinwhoswho.com\/blog\/2016\/03\/31\/the-ever-popular-deepbit-mining-pool-address\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">The Ever Popular DeepBit Mining Pool Address<\/span> <span class=\"meta-nav\">&rarr;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[11],"tags":[18,16,29,17,4],"_links":{"self":[{"href":"https:\/\/www.bitcoinwhoswho.com\/blog\/wp-json\/wp\/v2\/posts\/139"}],"collection":[{"href":"https:\/\/www.bitcoinwhoswho.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitcoinwhoswho.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitcoinwhoswho.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitcoinwhoswho.com\/blog\/wp-json\/wp\/v2\/comments?post=139"}],"version-history":[{"count":43,"href":"https:\/\/www.bitcoinwhoswho.com\/blog\/wp-json\/wp\/v2\/posts\/139\/revisions"}],"predecessor-version":[{"id":253,"href":"https:\/\/www.bitcoinwhoswho.com\/blog\/wp-json\/wp\/v2\/posts\/139\/revisions\/253"}],"wp:attachment":[{"href":"https:\/\/www.bitcoinwhoswho.com\/blog\/wp-json\/wp\/v2\/media?parent=139"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitcoinwhoswho.com\/blog\/wp-json\/wp\/v2\/categories?post=139"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitcoinwhoswho.com\/blog\/wp-json\/wp\/v2\/tags?post=139"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}