Collects questions about the revenue created by mining. For questions specific to coinbase transactions use [Coinbase-Transaction], for questions about halving use [reward-schedule].

learn more… | top users | synonyms (1)

2
votes
1answer
59 views

What Value does mining provide?

After reading the O'Reilly book and perusing online resources, I'm still confused about the value that the actual mathematical mining provides to Network (I understand it does provide value, but not ...
0
votes
1answer
41 views

What sort of calculations do the miners have your computer do? [duplicate]

I recently heard of a new cryptocurrency (or maybe it's not new and I'm just out of the loop) called Gridcoin which uses your GPU/CPU/ASIC to do research calculations rather than "meaningless" ...
1
vote
2answers
39 views

Bitcoin Block Reward value

How can someone calculate the current/real-time value of a Bitcoin block? What is the equation/algorithm used to determine this? I've found a few resource online, but I'm a little confused
1
vote
1answer
45 views

Reward system bitcoin

I'm not entirely sure how the reward system in Bitcoin works. So, every 10 minutes a block is solved and 25 bitcoins are rewarded to a miner (or group). This happens in proportion to the amount of ...
0
votes
0answers
18 views

What happens when the Block Reward of a Currency is Changed to a Greater Value? [duplicate]

What Happens if the Reward for block solving is changed to a very great extent and if most / all of the users update to that version with the edit.. For example if block reward is 12 x and it is ...
1
vote
1answer
82 views

Is the Bitcoin rewards formula flawed?

This paper argues that the bitcoin 4-year reward halving system very disturbing. We see absolutely no reason and no benefit of any kind to have this sort of mechanism built in a crypto ...
2
votes
2answers
52 views

If the temporary 8 decimals limit is removed, will the reward continue halving forever instead of eventually going from 1 satoshi to 0 satoshi?

If the temporary 8 decimals limit is removed, will the reward continue halving forever instead of eventually going from 1 satoshi to 0 satoshi?
2
votes
5answers
222 views

Who issues bitcoins and how?

I can't find information on who actually issues the bitcoins. I understand that miners generate new bitcoins but what party is responsible for issuance?
1
vote
1answer
89 views

Why bother having limitations on Bitcoin Coinbase Transaction Scriptsigs?

There are a few limitations on the structure of the coinbase (reward) transaction in a block. There is only one input. vin.size() == 1 (source) It doesn't reference any previous output. ...
1
vote
1answer
42 views

Can the coinbase transaction be used to spend an UTXO?

I know the coinbase transaction's input is usually just has a dummy scriptSig, but what if a miner used it to spend an UTXO? Would it be verified as an actual spend, or would the block be rejected?
1
vote
1answer
77 views

Do Miners get a reward for re-confirming blocks?

As far as I know, to ensure double-spending didn't happened and also for other security reasons, there is minimum number of confirmations that a transaction should have to be accepted. That value is ...
1
vote
1answer
45 views

Who generates the coinbase transaction?

As the wiki article says, Given just those fields, people would frequently generate the exact same sequence of hashes as each other and the fastest CPU would almost always win. However, it is ...
1
vote
1answer
94 views

How did Satoshi manage to mine so many bitcoins being the first user of the system?

I'm just learning about Bitcoin and if I understand its conception properly, mining bitcoins means validation of transactions by computing a hash which should satisfy some preset condition. In other ...
4
votes
2answers
310 views

Must a Block contain a coinbase transaction?

Must a block contain a coinbase transaction? If so, how is this enforced?
-1
votes
2answers
89 views

The number of Bitcoins in existence will never exceed 21 million

Many questions say so. I do not understand anything what you say there about the blocks. Just tell me how do you make it a currency of the future if most of the people (there is 7.5 billion of them on ...
0
votes
2answers
49 views

Which pooled mining scheme is better in terms of constant mining?

I'm comparing gash.io with slush scheme. Say I mine 24x7 without pool hopping at 5GH/s. Will the BTC amount be the same if I mine at slush or gash.io. And what if I get disconnected from either of ...
1
vote
1answer
48 views

Premining documentation?

I'm looking for more information on how to actually premine a coin. I would be grateful if someone can show me an example. What I've tried so far does and not work, I'm basically mining the first ...
-1
votes
1answer
51 views

How can I limit the mining to specifics miners authentified by private key or something like that?

I know how to code in C++, but I don't know really how all mining system works. I have my altcoin, and I would like to block reward blocks to miners which are not authentified (something by private ...
2
votes
1answer
110 views

Is there a way of rewarding users who confirm others' transactions?

Users who confirm or validate others' transactions are performing a public service on the Bitcoin network. Is there any way to reward such users, perhaps by giving them priority for confirmation of ...
1
vote
0answers
50 views

Non LuckyCoin descendant alt-coins with fair “lucky blocks”?

Dogecoin just dropped the "lucky block" stuff after it was found out the "luckiness" wasn't entirely random - multiminers were waiting for the lucky blocks to appear and dropping their hashing power ...
2
votes
1answer
95 views

Verification of transaction once trasaction is broadcasted

I have few doubts regarding verification of transaction and am trying to find answers from last few days. I agree similar post exist in this portal but I am not getting satisfactory answer for my ...
0
votes
1answer
342 views

Coinbase maturity of 100 transactions [duplicate]

The protocol rules state that For each input, if the referenced output transaction is coinbase (i.e. only 1 input, with hash=0, n=-1), it must have at least COINBASE_MATURITY (100) ...
3
votes
2answers
145 views

Transaction fees when a block chain is discarded

I'm a bit new to the bitcoin system, so I apologize if this is a "noob" question. A user attempts to take all the unverified transactions it knows about and aggregate them in a chain block. The same ...
2
votes
3answers
172 views

Any need for coinbase field in coinbase transaction?

My understanding is that every block in the bitcoin blockchain has a coinbase transaction which contains a coinbase field. It is essentially an orphan field (placeholder) for use in claiming existing ...
1
vote
1answer
70 views

What is short pseudocode for determining the total number of bitcoins mined?

Here's what I have so far: total_epochs = current_block_height % 210000 total_coins = 0; for(i = 1; i <= total_epochs; i++) { reward = 100 / 2^(i * 210000 / 210000); total_coins += 210000 * ...
2
votes
1answer
396 views

How is block reward set in time?

Many coins have dynamic block reward over the time, for example Bitcoin was 50BTC/block years ago and now 25BTC. My question is how is it defined in the source code ? I searched in Litecoin's source ...
3
votes
3answers
289 views

Why is the reward decreasing while the difficulty of mining is increasing?

I was wondering why Bitcoin has been designed in a way that rewards are decreasing while the difficulty of mining is increasing. To me this is counter-intuitive and leads to the situation when miners ...
3
votes
3answers
297 views

Why Reward Size 50 (21 Million Coins)?

I have already read the following answer which is not really meaningful: 21 Million Calculation Here's a mathematical explanation: Calculate the number of blocks per 4 year cycle: 6 blocks ...
1
vote
2answers
196 views

Popularity based mining (variable block reward)

I am thinking of an alternative mining scheme where block reward would grow (or decrease) with popularity of the coin. The rationale behind this idea is to make an exchange rate more stable since ...
1
vote
1answer
76 views

Does mining activity only exist if there are bitcoin transactions? [duplicate]

Bitcoin's mining only exists, if there are some transactions, right? If nobody trades bitcoins, the miners don't have any transactions to validate, and so the number of bitcoins in circulation doesn't ...
1
vote
1answer
4k views

How To Get Copy of Bitcoin Source Code

Does anyone have an idea of where can I find a copy of the bitcoin source code. I mean doesn't it supposed to be open source, where is the open source project for bitcoin so I can read the code.
3
votes
2answers
265 views

How do Bitcoin clients know how many new bitcoins to mint when creating a block?

I understand that lucky clients that create blocks get some transaction fees and are allowed to mint a few new bitcoins to keep for themselves. How do clients know how many new bitcoins to mint for ...
1
vote
1answer
190 views

if a coinbase reward isn't fully spent, can the coins ever be recovered? [duplicate]

If a pool mines a block and is mistakenly rewarding miners with less coins than they should be given, is it possible for others to recover those coins somehow? Or are they lost forever? For example, ...
1
vote
1answer
284 views

What was the design decision behind that the coinbase field can have arbitrary data?

From what I learned, the coinbase field in the block reward transaction can carry any data (As long as smaller than 100b). Why that actually? Was it easier to implement in the beginning? I would just ...
5
votes
2answers
110 views

Can a block ever be empty?

The standard response is "no, the reward is at least one transaction." What about after there is no more reward?
4
votes
4answers
9k views

Litecoin difficulty and reward

How can I know difficulty value and reward for Litecoin network ? I'm looking for website such as http://blockexplorer.com/q/bcperblock http://blockexplorer.com/q/getdifficulty to get ...
2
votes
1answer
7k views

How many Bitcoin are mined per day?

A block is generated every ten minutes. The reward changes periodically, and will halve 32 more times. What is the approximately daily reward across the entire network?
1
vote
1answer
247 views

What ultimately happens to mining if blocks contain mostly non-Bitcoin data?

I'm trying to understand what can happen if A block consists entirely of 3rd party (xCoin) data like Namecoin There are no Tx fees to collect since they are on alternate chains. Assume that the ...
3
votes
1answer
105 views

What percent of recently mined coins being actively traded vs saved?

I'm trying to understand the recent increase in BTC value in relation to mining. I am trying to answer the question Are miners (with powerful ASIC hardware) saving the BTC, and not selling them, ...
6
votes
2answers
228 views

What is the reason for halving the rewards?

What is the reasons for halving the rewards? Why not, for example, let the reward be always the same and the amount of currency always growing? Are the reasons technical or just purely ideological?
4
votes
1answer
577 views

How many Halving Days will there be?

The first Halving Day was November 28, 2012, when block 210000 was generated. How many more Halving Days will there be?
13
votes
1answer
1k views

What is the coinbase?

I searched the bitcoin wiki and found references to coinbase, but no clear cut explanation of what exactly it is. I know that miners can tag their coinbases (that is how some sites tell who mined a ...
1
vote
1answer
539 views

Will the transaction fee economy in Bitcoin follow the commission model?

I've been analyzing the long term results of the block chain. In the process I realized the relationship between the distribution of coins over time, transaction fees, and coins being lost. The full ...
5
votes
3answers
355 views

Bitcoin-related bounties

What is the most common way for one to announce new Bitcoin-related bounties in the community? Is there some website that mediates in the process, or is everything done through the Bitcoin forum?