Mining is the process of securing transactions and committing them into the Bitcoin public chain

learn more… | top users | synonyms (1)

0
votes
1answer
50 views

What is the estimated size of complete blockchain when all bitcoins are mined. i.e around 2140?

By size, I mean how many GBs or TBs of data storage I would need to save entire blockchain starting from Genesis block when all bitcoins are mined?
0
votes
0answers
15 views

How much is known about mining pools' transaction fee policies?

We know that as of today in Bitcoin Core v0.10.0, the default value of minrelaytxfee is 1000 satoshis, and CreateNewBlock in miner.cpp uses this value as the minimum fee rate threshold in order for a ...
2
votes
2answers
50 views

What mining performance can we roughly expect from the Intel SHA extensions of the upcoming Skylake processor architecture?

Intel is scheduled to release their new x86 SkyLake microarchitecture in Q3 2015. Among other interesting features, it will introduce SHA extensions that will allow hardware acceleration of the Secure ...
2
votes
3answers
109 views

How do I make a profit buying cloud-hashing contracts?

I have tried one of the hashpower selling/buying website (nicehash) to buy hashpower. I have connected my order to a pool where I had one worker. However, despite all the advertisements, I could not ...
2
votes
1answer
79 views

Why doesn't the same miner always win?

If the miner with the strongest ability to solve the block wins, why doesn't the same miner win every time? Wouldn't that miner still have the strongest ability to perform the proof of work on the ...
0
votes
0answers
50 views

How much money should I invest in mining, so I can turn a profit? [closed]

First of all, how much hash/s should I create so I will win some money? (the only costs I have is the electricity am I right?) If I buy an asic machine after how many days/months I will have make ...
0
votes
1answer
37 views

Best p2pool software

I'm pretty new to Bitcoin. This will be my second question at this site and I'll try to make it less verbose than the first while still containing what seems to be important detail. I'm still in the ...
0
votes
0answers
23 views

mining alt coins. trading/exchanges

I am interested in starting to mine alt coins. I have little in funds to invest in hardware, besides a laptop that I got from bestbuy. are there any coins that would be able to be mined from such a ...
0
votes
0answers
15 views

What do people mean by solving bitcoin transactions? [duplicate]

I have been looking at a lot of posts about how bitcoins are generated. They keep talking about how miners do computations of other "transactions". Do they mean bitcoin transactions or other forms of ...
4
votes
2answers
806 views

Why does an adversary have to control 50% of the computing power to double spend?

If transactions in a block are valid, in order to add that block in the block chain, a proof of work needs to be found. I have read the bitcoin paper by Satoshi. If the difficulty of the proof of ...
0
votes
1answer
42 views

Mining Litecoins as User in Debian

I followed this tutorial https://litecoin.info/Debian_Linux_cryptocoin_mining_rig_setup_guide and set up a Mining rig (Debian 6.0.10). Sometimes I modified it (downloaded later graphics drivers than ...
0
votes
1answer
43 views

What does the frequency of my miner mean?

What does the clock frequency of my miner mean. I can change it but how does it affect performance? For BFGMiner when I start my Gridseed I can press 'C' to change it.
2
votes
1answer
83 views

ASIC resistant PoW mechanism that generates new hash functions. How does that work?

From Vitalik Buterin's post regarding "On Mining", he mentions: The second approach is somewhat different: create a mechanism for generating new hash functions, and make the space of functions ...
-1
votes
1answer
16 views

Are transactions in the mined block validated by other nodes on the network? [duplicate]

After successfully mining a block, the block and the solution is broadcast to the network. The nodes on the network in turn verify the solution. Aren't transactions that belong to the broadcasted ...
0
votes
2answers
107 views

Which is best for mining bitcoin?

I am wanting to buy a hardware for mining bitcoin and namecoin using Bitminter. But then Genesis Mining offer online cloud mining. I want to know if it's better to buy a hardware for mining bitcoin or ...
0
votes
1answer
71 views

Locating Server-Grade PSU-to-PCIe Power Cables for Bitmain Antminers?

Does anyone know where breaker boards and cables can be purchased online that provides four PCIe 6-pin connectors to power an Antminer C1 from a server-grade power supply unit (PSU)? Background: I ...
1
vote
1answer
28 views

How does the Bitcoin network checks if the miner has changed the mining reward? [duplicate]

You know the mining reward is just a number in the code,what if a miner changed it?
2
votes
2answers
44 views

Do P2Pool nodes always accept real blocks over share blocks?

The standard rule in bitcoin is that if you see two blocks on a chain that has the same work, you accept the one that you saw first as the correct one. If this extended to P2Pool chains, some nodes ...
-1
votes
0answers
24 views

If I mined for 1 hour, at 10 terahashes, at the current difficulty, roughly how many bitcoins would that make? [duplicate]

I just need to know, because I am currently in need of money and would like to try bitcoin as a potential way of making profit. I have done some research, but I've currently been basing my equations ...
0
votes
1answer
30 views

Does the power supply matter?

I have a Gridseed 5-chip ASIC miner and am running 2 amps into it. Will this impact how it works and if it works at all if I use 2 amps instead of 5?
0
votes
0answers
25 views

What is the cause and effect of all this 'mining'? [duplicate]

It seems mining is a reward system for the exchange of 'solving complex mathematical problems'. What 'exactly' is the 'complex mathematical equations' being analyzed in the mining process? How is ...
0
votes
0answers
22 views

Whats the difference between minting and mining? [duplicate]

What is the difference. I know mining is power hungry and minting is meant to be better but what is the difference because they both generate coins and are random?
0
votes
0answers
7 views

Book question on Bitcoin [duplicate]

I was wondering if you have any books in order to understand more in depth both Blockchain technology and Mining
-3
votes
2answers
74 views

How to premine our coins in my altcoin?

I want to premine our coin, but I'm not able to understand which function from which file actually generate coin. So if you know than let me know so, I can understand that code and implement my own ...
-1
votes
2answers
53 views

Why was there an non-steady mining rate in 2009?

For the first four years of bitcoin, 50 bitcoin were being mined per block. There was a feedback loop to adjust difficulty so that blocks would be mined every ten minutes, on average. So why is the ...
0
votes
1answer
34 views

LTC Pool With Friends?

Is there a way I could set up my LTC mining pool so that my friends could join? I've been having really good luck lately!
1
vote
1answer
45 views

What is criteria of mining priority except for transaction-fee?

I am reading "Mastering Bitcoin written by Andreas" and I found this explanation of mining. Transactions are added to the new block, prioritized by the highest-fee transactions first and a few ...
3
votes
2answers
49 views

If block sizes go up, won't sigop limits have to change too?

Gavin Andresen, one of the core developers, has discussed increasing the block size to 16.7 MB (and doubling that every two years). The maximum number of signature operations per block is currently ...
1
vote
1answer
121 views

I'd like to connect an LKETC USB Scypt Miner to my Raspberry Pi. Help?

I am new to bitcoin mining, but pretty good with technology as a whole. As a Father/Son project, I recently purchased a couple of USB LiteCoin Scrypt miners (I bought them here: ...
4
votes
1answer
65 views

Is it possible to make PoW ASIC-resistant through dynamically generated hash chains?

Bitcoin's static proof-of-work function SHA256(SHA256(data)) was apparently easy enough to be implement as ASIC which lead to the re-centralization we see today. But what if the PoW function changes ...
0
votes
1answer
50 views

What does it mean when a block is “kicked”?

While mining on a NOMP mining pool, I noticed that when you add the confirmed blocks and pending blocks together, they rarely add up to the total blocks found. It is my understanding that the missing ...
3
votes
2answers
509 views

How is it that concurrent miners do not subvert each other's work?

Every time a new block is added on top of block chain, the miners have to restart their work because the next block has to have a proper reference to previous block. Let's suppose that there is some ...
0
votes
1answer
55 views

Given a block, is there a list of all hashes for all possible 2^32 nonce values?

I am working in a computational research lab, and we're taking a look at Bitcoin. I'm trying to develop a simulation of Bitcoin mining for a nonexistent computer architecture. I want to simulate the ...
1
vote
1answer
34 views

Is it necessary for all miner to reset minig when the tip of blockchain has chenged?

Each block in blockchain contains a pointer to previous block (block header). If multiple blocks reference certain block as their parent, only the one that is part of longest chain is accepted. ...
3
votes
2answers
55 views

How are unconfirmed transactions divided into different blocks?

According to https://bitcointalk.org/index.php?topic=216938.0 one transaction can only be contained in one block. If I understand correctly, miners can freely decide what transaction they include in ...
0
votes
0answers
14 views

Recovering from a collapse in network mining capacity [duplicate]

What would happen if 90% of the Bitcoin mining capacity abruptly left the network (say, because a price collapse made it unprofitable)? From what I can tell, the immediate impact would be that ...
1
vote
1answer
34 views

Can a blocksize limit be a sustainable way to introduce scarcity?

Some people feel that it will be important in the future to introduce some scarcity into the mining market by having a block size limit. The idea is that this will force transactors to bid up ...
5
votes
5answers
787 views

Energy consumption while mining

I am new to Bitcoin and I read some article about bitcoins and Most articles says "When using CPUs, GPUs, or even the older ASICs, the cost of energy consumption is greater than the revenue ...
0
votes
0answers
84 views

Get work on custom solo mining software

I'm making a bitcoin solo miner, what is the URL to get the current block header a with JSON call? I also need the URL where the work will be sent if a valid solution is found. Right now I'm trying ...
1
vote
1answer
61 views

What transactions will be included in the next block?

The miners decide whether a transaction will be included in the block. What information do miners have about unconfirmed transactions? How can I know, in detail, what transactions are going to be ...
2
votes
2answers
82 views

Blockchain for internet-of-things or is there any mining algorithm that can be utilized in low-computational power devices preserving security?

Recently IBM and Microsoft showed their interest (IBM post, Microsoft post) in utilization of blockchain for internet of things development. Let's assume that in close future the blockchain technique ...
2
votes
1answer
124 views

What happens if a miner confirms their own double spend?

Suppose an attacker makes a double-spend and controls the mining pool that happens to find the good which confirms the transactions. What happens? I suppose the network hopes that a vigilante sees ...
2
votes
1answer
61 views

Can miners choose which transactions to mine?

I'm curious if miners can choose which transactions to mine? I know that there are limits to the minimum size of a transaction fee (around 5400 satoshis) but I'm wondering if miners can ignore those ...
1
vote
1answer
294 views

How do miners receive transaction fees?

I know that in a transaction, the difference between the amount and the sum of the outputs is the implicit transaction fee, but how do the miners that verify the block containing that transaction ...
0
votes
1answer
41 views

How can I be sure that bitcoin mining software is not compromised?

I have been interested of generating Bitcoins but how can I be sure that the software that is available for this is not somehow compromised? My concern is that the software may have some backdoor ...
2
votes
1answer
44 views

Transactions used to form a block

I've read the Developers Guide ( bitcoin.org/en/developer-guide ), asked a few peers and I still don't understand how the transactions are used to form the block. I did get that the transactions are ...
2
votes
1answer
102 views

What is Multi-PPS (Pay Per Share)?

I know the original proposal on bitcointalk is here, but can someone explain it more succinctly? How does Multi-PPS work? Can it actually prevent mining centralization?
4
votes
1answer
68 views

How Does Network Difficulty Relate to the Odds of Finding a Block?

Right now the network difficulty for mining is 40640955016.576. And, according to blockexplorer.com, the current odds of finding a block for any given hash is ...
2
votes
2answers
170 views

How do cloud hashing companies profit? (leasing hashing power)

I think I'm missing something. There are a bunch of cloud hashing companies that lease hashing power. Let's take cointellect for example. They have contracts from 10 days to 24 months. If I buy a 10 ...
2
votes
1answer
74 views

How resilient are Proof of Stake (PoS) mechanisms to brute force quantum computing attacks?

The article called "Bitcoin vs. The NSA’s Quantum Computer" was a great read pertaining to Bitcoin, and computing minimum thermodynamic energy required to brute force attack public key to discover the ...