[DEPRECATED] PLEASE DON'T USE THIS TAG ANYMORE. Mining is the process of securing transactions and committing them into the Bitcoin public chain.

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11
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2answers
6k views

What is proof-of-work?

Please explain the proof-of-work concept. And how does it relate to Bitcoin mining in general, and to the proofs of work (aka shares) of mining pools?
3
votes
3answers
1k views

How exactly do new bitcoins come into existence?

I understand that currently new bitcoins are awarded during the validation/mining process. However, how exactly does the system determine that bitcoins that were previously nonexistent should be ...
16
votes
5answers
29k views

Solo mining just for luck, realistic?

Just turned my attention to mining and the concepts are quite new to me. First of let me be clear: I realize that my hardware setup is far from ideal for mining. This is also the reason why I do not ...
9
votes
5answers
4k views

What is the rationale behind Bitcoin mining?

I don't understand the logic of "mining", if bitcoins are a digital currency, why do we need a GPU to "make 'em"?
9
votes
4answers
123k views

What is the difference between kH/s, MH/s, and GH/s?

I started mining on a friend's computer and it shows 300 kH/s. But when I research other peoples' hash rates I usually see MH/s. Are these speeds the same as kilobytes and megabytes? Also, when I say ...
9
votes
4answers
6k views

What happens once the mining reward gets cut in half?

Sometime around the end of 2012 the mining reward is expected to be cut in half from 50BTC/block to 25BTC/block. What effect will this have? Doesn't this mean that it will be less economic to run a ...
9
votes
2answers
600 views

Can the Bitcoin network be used for cracking?

I'm assuming that the Bitcoin economy is rapidly building a computing cluster capable of unprecedented amount of hash searching. Would it be possible for an attacker to leverage this to crack other ...
4
votes
3answers
529 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 ...
12
votes
1answer
416 views

What is the approximate hashrate of a human?

Which and how much mathematical operations are required for the blockheader-to-blockhash operation and how fast would a human be able to calculate a single hash? EDIT: For simplicity, I think it's a ...
11
votes
3answers
3k views

How do miners select which transactions to include in a block?

Where and how do you view and select which transactions to include in the block you are trying to create? Do you look on the blockchain? Is there some tool that you can use that allows you to see ...
10
votes
1answer
10k views

Why do AMD's GPUs mine faster than Nvidia's?

I have been searching Google all day and cannot find any real information. I'm looking for information in detail, such as specifications or the qualities of the GPUs that make the differences.
9
votes
5answers
14k views

When is GPU mining considered not-profitable?

As GPU mining made CPU mining non-profitable, at some point in time more specialized mining hardwares (FPGA and ASIC) would make GPU mining non-profitable. When is GPU mining considered ...
3
votes
3answers
2k views

Full example data for scrypt Stratum-client

I'm trying to write a Mining client for Scrypt-based mining using Stratum Communication. As of now, I have some trouble verifying all my bit orders and sequences. Hashes I'm generating get always ...
12
votes
3answers
2k views

What can be done about the no-transaction block relayer (currently 71.123.170.150)?

An unknown major solo miner (currently IP 71.123.170.150), most likely a botnet, is relaying blocks with zero transactions. Two weeks ago this miner constituted ~15% of the network, now it constitutes ...
1
vote
1answer
292 views

How do I start mining?

I have only known about Bitcoin for maybe a month now. I don't know what I need to start mining, but I had these two programs that were said to be needed for the Bitcoins. I deleted these programs ...
5
votes
1answer
1k views

Will the proof-of-work system end when all bitcoins have been mined?

This article from ArsTechnica is claiming that BitCoin is not such an environmental disaster, and one of the reasons they mention is that mining will come to an end. Ok, fair enough, there is an end ...
4
votes
2answers
28k views

Can I do mining with a normal PC? [duplicate]

Can I do mining with a normal PC in my house? I will setup Linux (Ubuntu) for mining. It will be open 24/7. I don't have too many expectations. Maybe 0.1 in one week?
10
votes
3answers
92k views

Is it worth mining Litecoins?

Is it worth mining Litecoins and then exchange them for Bitcoins (because I am not sure if there will be space for more crypto currencies in the future)? I can get about 25k hash/sec by CPU mining on ...
16
votes
1answer
7k views

What is proof-of-stake?

As we know one of the important mechanisms of Bitcoin is proof-of-work. How does the concept of proof-of-stake work? How does it differ from proof-of-work?
9
votes
2answers
379 views

Is it possible for the network to stop finding valid blocks?

The hashing problem is by design computationally hard, because SHA-256 hashes are for all intents and purposes random strings with no direct link to their inputs, and there's no (known) way to ...
4
votes
1answer
1k views

Whats the process of Creating a Block on the BlockChain

have been mining on pools and blindly going a long for the ride of > generating a block Can somebody walk through the process in simple terms of the steps involved in creating a block on the ...
11
votes
2answers
3k views

Could there be hyperinflation in Bitcoin?

Currently the creation of new coins is fixed at a certain rate which halves every few years and will at some point in the future drop to zero. As I understand it, this is by consensus, i.e. all the ...
10
votes
4answers
9k views

What are the odds of discovering a block as a solo miner?

I understand that during mining, one does not discover individual coins, but rather blocks of coins, and I heard that one block equals many coins (but how many?). I am wondering though, as a solo ...
6
votes
2answers
9k views

Are there any attempts at creating ASIC for bitcoin mining?

I take reference to the Question here which compares ASIC with FPGA. In this question someone quotes a company called Largecoin that is said to be at the development of such an ASIC. However their web ...
8
votes
1answer
12k views

When will the last Bitcoin be mined?

Estimates have been thrown around a lot recently as to the year in which the last Bitcoin will be mined- where are these estimates coming from? Could someone send me to the relevant code?
5
votes
3answers
587 views

Does selfish mining actually give an advantage in the absence of transaction fees, difficulty changes, and economic effects?

I am reading the Cornell selfish mining paper. In it, their main argument is that a selfish miner can increase the ratio of the blocks he mines relative to the honest miners. I do not dispute this. ...
12
votes
1answer
827 views

What happens when a miner does not claim all fees/generated coins?

Suppose that a miner for some reason has the generation transaction of their blocks not take all the possible coins. This can happen for a variety of reasons, almost all of which are bugs: An ...
9
votes
3answers
4k views

What happens to the bitcoin network when the miners all stop in the future?

What happens to the bitcoin network when the miners all stop, years in the future after all the bitcoins have been mined? How will the network continue to function? Won't bitcoins then be useless? ...
9
votes
2answers
4k views

How can I measure the total hashing power of the Bitcoin network?

Is there a way to measure what is the total hashing power of the Bitcoin network at a given time? For pooled mining it isn't a problem - one can rely on statistics provided by the pool (assuming one ...
3
votes
1answer
154 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 ...
3
votes
2answers
284 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 ...
6
votes
2answers
2k views

What is the format of coinbase transaction?

I'm trying to understand what is the format of the coinbase transaction if there is any? I've read that it is arbitrary and is not specified. I'm wondering because I need to generate mining work and ...
5
votes
1answer
1k views

What is SPV mining, and how did it (inadvertently) cause the fork after BIP66 was activated?

I'm curious to hear an in-depth explanation of the hard fork and how it was caused; I've heard/read a great deal but I'm lacking a cohesive explanation.
5
votes
2answers
8k views

How does proof-of-stake “mining” work?

I know and understand the concept of proof-of-stake. Instead of requiring users to do a certain amount of power-intensive hashing "work", it requires you to own a certain stake of the currency in ...
9
votes
3answers
2k views

Pool Hopping Math

It's been discussed and argued at great length whether pool hopping is ethical, but there is no debate about whether it works - I even have some first hand experience that says it increases mining ...
7
votes
2answers
11k views

What are ASIC miners actually doing?

I'm trying to understand Bitcoin mining (software-wise), and I wonder how ASIC miners are different? I'm going through this minimal Bitcoin miner Github repository. Which part of Program.cs are ASICs ...
5
votes
5answers
10k views

Is there an altcoin that is only feasible to mine by CPU?

I'm interested in mining altcoins, mainly to turn some servers into (literal) space heaters, since it's winter. One thing that really interests me is if an altcoin has been designed to only be ...
5
votes
2answers
465 views

How to experience the thrill of mining?

Bitcoins are hard to mine now. I've always wanted to actually earn them, but never actually gotten much of anything. I want to create my own blockchain, separate from any other networks, so that ...
3
votes
3answers
46k views

5 GH/s Bitcoin Miner from Butterfly Labs can mine Litecoin?

I was wondering buy this ASIC miner of 5GH/s to mine Litecoin. I want know, can I mine Litecoin with this powerful tool? If not, there any ASIC miner's that can mine Litecoin?
9
votes
4answers
2k views

Why there are companies selling mining hardware?

i'm not (yet) using bitcoins, and I'm approaching this world as of now.. I stumbled upon some merchants that sell mining hardware (with some GH/s).. but I've yet to understand what is they gain, ...
6
votes
2answers
4k views

How will the Bitcoin network look after BFL ASIC hardware shipments?

There have been over 7000 pre-orders of BFL SC series mining machines, with the cheapest one supposedly running at 3.5 GH/s and the most expensive being 1000GH/s thats a lot of hashes about to be ...
4
votes
2answers
615 views

Why would a miner mine with a difficulty other than 'the' difficulty?

Why would a miner mine with a difficulty other than the network difficulty? Both of these questions describe miners mining in such a way. What's the benefit of this? What even does it mean?
3
votes
2answers
3k views

Given the probability of finding a block, and time taken, can I infer hashrate?

I'm trying to externally calculate the hashrate of a given miner based only on an arbitrarily defined target that I assign, then calculate probability it will be found. Once this probability is ...
2
votes
1answer
181 views

If more than one coin did the “mini-blockchain” proposal, would that make the weaker coin vulnerable?

So, I was reading this paper as a proposal to the ever growing blockchain problem. In summary, it's security is provided without a full blockchain by having a proof chain with these fields: Previous ...
1
vote
2answers
6k views

Mining on Amazon EC2

Was there ever a time when mining on Amazon EC2 was profitable? When the difficulty was low, so was the exchange rate, so I'm not sure.
7
votes
2answers
3k views

What is the extraNonce?

This question helps identify the various components of the getwork "data" field, but I'm curious where the extraNonce comes from. My hunch is it's the first four bytes of the second half of the data, ...
5
votes
2answers
5k views

Can you mine bitcoins with an intermittent Internet connection?

I've got a very precise question and this is not a dupe of: Does Bitcoin rely on the internet? My question boils down to: when you mine bitcoins, how "often" does the computer/hardware doing the ...
3
votes
2answers
566 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 ...
3
votes
3answers
144 views

How hard is it to alter a block after it was found?

Once a miner has found a block, how easy it is for him to add or remove a tx included in that very block? Would he have to solve the modified block from the scratch or is there a point he can resume ...
3
votes
2answers
2k views

Which coins can butterfly-labs miners mine

Can I use a butterfly-labs miner to mine any crypto-currency?