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Questions tagged [mining-theory]

The underlying concepts and game theory of mining.

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Some questions about specifics on bitcoin mining

Most people mine bitcoin by launching a software on their PC or buying a special miner, both of which abstract out the nitty-gritty of how the mining process work. I am curious however about some ...
Enthusiast's user avatar
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4 answers
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Would Bitcoin still work without a target difficulty?

Suppose that Bitcoin nodes had no target difficulty at all, and instead just accepted the block with the largest PoW every 10 minutes. Ignoring the increased bandwidth (since nodes would be ...
MaiaVictor's user avatar
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1 answer
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How a real mining code treats difficulty?

I have come up recently with "how to mine bitcoin using python" or "how to mine bitcoin using golang" and as I have been observing all these source code, not only I'm confused but ...
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Could the threat of centralization be realized if a sufficiently large entity acquired enough Bitcoin?

This is primarily a hypothetical, but not an impossible one. If a sufficiently large entity such as a massive company with a lot of cash or the U.S. Federal Reserve were to acquire more than half of ...
Jacob Jones's user avatar
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2 answers
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Why should a miner include transactions when creating a new block?

As I understand it, if I'm a miner, and I have 5 transactions in my queue, I then would use the previous blocks hash and my list of transactions to attempt to create a new block. To do this, I must ...
Gary Holiday's user avatar
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Can dishonest miners spam fake blocks? [duplicate]

How, if at all, does bitcoin disincentivize spam blocks by adversarial/dishonest miners? As I understand it, blocks are propagated throughout the network using a gossip protocol. If that's true, I ...
Paymahn Moghadasian's user avatar
2 votes
1 answer
404 views

What is the meaning of Bitcoin terms like `Tx`, `Block-Header` and `Target`

Hello can you please explain what "TXes" are and What "Block Headers & Targets" and "Headers Below Target" mean. Thank you very mcuch.
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What (if anything) in the bitcoin protocol prevents bias against certain accounts?

The bitcoin protocol allows miners to choose which transactions to include when they create a block. They can't include any inauthentic transactions, but to allow for an open market of transaction ...
Darby Haller's user avatar
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Where is there a graph of total miner revenue (BTC) per unit time (e.g. day)?

Basically I'm looking for this graph, but denominated in BTC https://www.blockchain.com/charts/miners-revenue or this graph plus the block reward https://www.blockchain.com/charts/transaction-fees I'...
Alex Macx's user avatar
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291 views

How often does the "little man" win [mining]

I have read that long term we expect that the percentage of blocks mined to be forever converging to the percentage of hashpower possessed by the miner. This means if a particular miner has 20% of the ...
Prince M's user avatar
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Why there are so many miners, if only one will be rewarded?

Why do we need so many miners, if we anyways only can add one block every 10 minutes? I mean if the current block height is x and we now need the block of height x+1 only one miner will be rewarded ...
tonik's user avatar
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Why can the block production rate be as low as two per hour?

Why is it taking so long to mine a single block. Like last hour only 2 blocks have been mined. Currently been 45 min since the last block was mined. According to blockchair Hour Blocks 5 ***** ...
Nicc Bars's user avatar
-3 votes
1 answer
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How Do I unlock a Bitcoin Blockchain with my Proof Of Work? [duplicate]

Can anyone help with some good explanations on next steps for Bitcoin mining. Hypothetically let's say I create an algorithm that successfully guesses the code to unlock a Bitcoin blockchain gives me ...
Christopher's user avatar
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2 answers
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Are all "hosted mining" services necessarily scams?

In 2014 or something, I paid a smaller sum of money to some company called "Cloudhashing" or something, which claimed that I was renting part of their Bitcoin mining pool and all I had to do ...
S Bierley's user avatar
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Why do we need miners

I know everyone says that we need mining to solve the double spending issue, but why? OK I am Alice and I want to send Bob some money, but double spend that money. This is the part where you say ...
nedrobme's user avatar
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1 answer
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What happens if a miner deliberately ignores a transaction, and "wins"?

Suppose a miner decides to solve the nonce for a particular block, where the miner deliberately excluded a particular transaction from this block. The miner "wins", i.e. they found the nonce ...
Bridgeburners's user avatar
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What exactly determines how long it takes a given miner to mine 1 btc block? (not talking about hashrate) [duplicate]

So given the number of miners out there working on doing the same thing and that 1 block is mined every 10 minutes, it would appear at face value that only those with the highest hashrates would ever ...
seyah's user avatar
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Is it possible that two miners mine blocks with different headers because they include different transactions

Ok, it's a yes or no question: miners can include different transactions in a block, so does that mean that they search for different nonces
cookie_qwertz's user avatar
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Is my Bitcoin address valid for mining?

I am looking at the specific block at height 680175. When comparing the address which received the block reward # bitcoin-cli validateaddress 1KFHE7w8BhaENAswwryaoccDb6qcT6DbYY { "isvalid":...
Andy's user avatar
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Why are there more than two transaction outputs in a coinbase transaction?

In a coinbase transaction there are always more than two transaction outputs. The first transaction output contains the reward. The second contains the witness reserved value. But why are there other ...
Andy's user avatar
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I need help figuring out what happened with my BFGminer overnight

I'm a newbie to crypto and was experimenting with usb erupters because I was getting into ETH mining with my rig and wanted to test it on something less risky. I ran ck pool for my USB erupter just to ...
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How is the witness reserved value set in a coinbase transaction?

In a coinbase transaction the second transaction output seems always to be a 32-byte witness reserved value. Is there any constraint on this value?
Andy's user avatar
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1 answer
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How to set the sequence number in a coinbase transaction?

The sequence number seems to be used for locking a transaction in mempool. However, the coinbase transaction is not part of the mempool and thus the sequence number does not make sense. Is it just an &...
Andy's user avatar
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How Bitcoin restricts the mining time?

How Bitcoin restricts the mining time? We know cryptocurrency systems restrict the mining time of a block to a certain limit for security reasons. For example, mining time for Bitcoin is ~10 minutes. ...
Sazzad Hissain Khan's user avatar
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How to install the latest bfgminer binaries directly from terminal without 'aptitude' on a raspberry pi 4 8gb running raspbian?

months ago I found an entry on StackExchange or somewhere else on how to install the latest (!) bfgminer binaries directly from terminal. I can not find the stackexchange post, no matter how deep I ...
MeebusJaximus's user avatar
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1 answer
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Why does decoded block data not match coinbase transaction input?

I am looking at the specific block at height 680175. Via bitcoin-cli getblock 00000000000000000004dbd66fa71fdcd62658bf8c8e2e153521257ad5858c71 0 I obtained the serialized, hex-encoded block data. ...
Andy's user avatar
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2 answers
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Why does the mined block differ so much from the block template?

I am looking at the specific block at height 680175. At the time when the block was not mined yet, I received the block template via bitcoin-cli getblocktemplate '{"rules": ["segwit&...
Andy's user avatar
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1 answer
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Educational sample of minimal working mining code

I would like if someone could point me to a minimal program source code that does solo minig on a CPU. (Can assume a running bitcoind/full node) Something that in theory (obviously not in practice) ...
user1747134's user avatar
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1 answer
70 views

Why does mining / validation of new blocks have to be complicated / time consuming? [duplicate]

Why does mining / validation of new blocks have to be complicated / time consuming ? Why it can't be as simple as just find a hash for a text? Is it just to control / limit the amount of new crypto ...
Adrian's user avatar
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Stratum: How many shares should I submit per job?

I'm implementing a bitcoin CPU miner just for fun in python. I've been reading a lot about bitcoin and the protocol pools use for communication and coordinating workers but there is a key concept I ...
PHAN's user avatar
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1 answer
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Are Bitcoin's blocks signed by the miner?

To my understanding, at no point in the Bitcoin Whitepaper does it say that blocks are signed by the miner. However, one could see the advantage of having blocks signed. Thus I wonder if in the ...
Fred's user avatar
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0 answers
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basics of cryptocurrency [duplicate]

I recently became interested in cryptocurrency and its mining process but there are a few things I don't understand very well and I am still trying to learn the basics more before getting into trading ...
Ali Hamza Khan's user avatar
6 votes
9 answers
2k views

How does a blockchain relying on PoW verify that a hash is computed using an algorithm and not made up by a human?

How does a blockchain verify that the hash provided (the one with the leading zeros that is supposed to be unique, computed using lots of processing power) is indeed unique and that it wasn't just a ...
Sprout Coder's user avatar
3 votes
2 answers
739 views

How does the mining pool know our hashrate/our share?

Scenario: Person A: has a good mining rig and run for 24 hours and produces: 1000 mega hashes, but found only 1 share. Person B: has a bad mining rig and run for 24 hours and produces: 1 mega hash, ...
Pretty_Girl's user avatar
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1 answer
818 views

Is Mining Bitcoin While The Price is Low or High better?

I have a few questions: Does the reward for Bitcoin increase/decrease when the price goes up and down? Is it more profitable to mine when Bitcoin is down, or when it is up? Thank you!
Void_Frost's user avatar
2 votes
1 answer
410 views

What is the purpose of submit header relative to submit block?

I understand what the usage is for submit block, but submit header exists in the RPC API reference. Is that a legacy function? Or can it still be used? Thanks
minutiae's user avatar
3 votes
1 answer
245 views

Can one manually type the mined block on bitcoin core and broadcast it?

I get that all miners compete to find the block first, which is then broadcasted to other nodes who then verify it. But what spikes my interest is would it be possible to broadcast the block to the ...
Humphrey's user avatar
1 vote
1 answer
39 views

How wallets/ miners differentiate bitcoin and bitcoin cash (forks of cryptos)? (technical IT question)

I could not find the answer by web search. People usually interested in economic differences. I guess it is a question for those who know how mining algorithms works. Internet is kind of decentralized....
Martian2020's user avatar
2 votes
3 answers
106 views

Trust in bitcoin networking

I am new to the subject, but as I was studying I wasn't able to understand something and I would appreciate if anyone could help me. I understand that in most aspects bitcoin doesn't rely on trusting ...
diogo_25_satya's user avatar
1 vote
3 answers
338 views

What would happen if the BTC price collapsed and the reward for mining dropped below the cost of mining?

Miners will only mine bitcoins if the reward they get from mining outweighs the cost of mining it. The network difficulty is adjusted every 2016 blocks (approximately every 2 weeks). If the price ...
Dally_3's user avatar
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0 answers
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Process for finding nonce

Assume we have a transaction in hex (tx_hex) and we want to find a nonce such that SHA-256(SHA-256(nonce|| tx_hex)) = new_transaction_id ('||' denotes concatenation) first bits consist of 32 zeros. ...
Paris's user avatar
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1 vote
1 answer
65 views

What would the expected block mining time be if 30% of the total network hashrate disappeared suddenly?

Ignoring the economic reasons as to why this may or may not happen. If for some reason the network hashrate suddenly dropped by 30% immediately after a difficulty adjustment and remained at that ...
Miner's user avatar
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2 answers
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Which transactions go through the SHA256 process of "trying to win the new block"?

It is commonly said that a new block that is hoped to be added to the existing blockchain is filled with transactions, and together with a nonce, go through SHA256 twice, and tries to be a small ...
nonopolarity's user avatar
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1 answer
318 views

ELI5: does the number of 0's required in mining for SHA256 over the years strictly increase, or does it depend on how many miners there are?

It is said that to discover a block, the person has to get a SHA256 number that has all 0's for the first 72 bits. Does this number 72 change and become bigger and bigger over the years (say, every 4 ...
deeper-understanding's user avatar
3 votes
1 answer
274 views

What prevents miners from inserting fake transactions given SegWit?

If I'm understanding segwit correctly, miners have to verify signatures in order to include a transaction into a block that they are mining. However, miners are not required to verify signatures in ...
mczarnek's user avatar
  • 299
0 votes
1 answer
71 views

How basecoin transaction is added to a block?

I'm new to blockchain and bitcoin. In my understanding, miners are trying to find a nonce that is added to a block, and then the hash of the block will have some zeros at first and the first ...
Ssaf's user avatar
  • 3
1 vote
5 answers
159 views

Are ASICs Resistant to Malware Attacks?

One of the arguments made in favor of relying on ASIC mining hardware to secure the Bitcoin blockchain is that commodity hardware is more prone to a 51% attack since an attacker could easily infect ...
S.O.S's user avatar
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1 vote
1 answer
111 views

How do miners decide when to give up on a block?

So in my understanding, miners bundle a list of transactions into a block and begin working on it until they can generate a valid proof of work. There are various reasons to group fewer or more ...
markv12's user avatar
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4 votes
4 answers
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Why is Bitcoin not moving to an ASIC-resistant Proof of Work algorithm?

Bitcoin uses a Proof of Work algorithm that makes it the perfect victim of ASIC mining. As a result, hash power is not very decentralized (more than 50% of Bitcoin's hash power is concentrated in ...
S.O.S's user avatar
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1 vote
1 answer
65 views

Does difficulty adjustment apply when you mine in secret?

Imagine you have an enormous amount of hashpower (say a nation state level attack) and you mine in secret. Does the difficulty adjustment apply specifically to your secret chain? Because that would ...
Dirk's user avatar
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