21 votes
Accepted

Why can't mining pools provide fake transactions within the generated blocks?

Suppose Alice wants to add a fake transaction where she receives X ammount of BTC. I understand that in order to add that transaction to the blockchain she would have to compete against all the other ...
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10 votes
Accepted

What are miners signalling for when the block header nversion field ends in 4 i.e. 0x3fffe004?

They are signaling for Taproot. BIP 341 specifies that signaling occurs on bit 2.
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  • 61.4k
7 votes
Accepted

Preventing transaction fee collusion between large miners

In theory, preventing this problem is why miners exist in the first place. The sort of collusion you're describing can more generally be described as censorship: miners jointly deciding to delay ...
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7 votes

Why does the hash-rate change so drastically?

The actual hash rate of the network is not (and likely cannot be) known. Blockchain.info and any other website that tells you the network hashrate is extrapolating it from the frequency that blocks ...
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  • 61.4k
6 votes

Is it possible to mine with core duo cpu 2.4 ghz?

Mine Bitcoin? Absolutely not. At current difficulty you'd need almost 16 million years to mine a block. The only profitable mining operations are using what are called ASICs (Application Specific ...
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6 votes
Accepted

How do I join a NXT mining forging pool? And how do I register for payouts from the pool?

I was confused by this as well, but I figured it out through trial and error. AM means arbitrary message (they should have explained this), which is a regular message you send to the forging pool ...
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  • 76
6 votes
Accepted

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

The number of hashes a miner has tried in the past does not affect the probability that a miner will get the correct hash in the next immediate calculation. Thus, it does not matter for the miner from ...
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  • 2,052
6 votes

Work distribution in a mining pool

The pool's mining server gives each miner a template to use for generating blocks. When the server wants to update which transactions are included or which block to build upon it will push a new ...
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  • 8,319
6 votes

How does solving reduced difficulty hashes contribute to solving a block?

Contrary to popular belief, mining is not something where there is progress. Each hash has the same probability of being a valid block hash. You could get lucky and find a valid hash with your next ...
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  • 61.4k
6 votes

How does mining pool ensure the miner works on the problem?

Miners regularly send "shares" to the pool server. The shares are solution to a low-difficulty bitcoin puzzle. Each share stands some chance of being a solution to the current bitcoin puzzle, of much ...
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6 votes

Why does a bigger block size infer miner centralisation?

Because a key aspect to understand is that transferring a block over the network globally is not completely instant. The bigger the block is, the longer the block propagation statistically takes. ...
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  • 536
5 votes
Accepted

Compared to Slush's pool, how exactly does Eligius payout owed bitcoins to the miners?

How does Eligius pay miners directly from the newly generated coins? It simply generates the coinbase transaction to include payments directly to its miners, instead of only a transaction to itself. ...
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  • 4,347
5 votes
Accepted

What prevents miners in a pool from retaining the reward?

The payout address for the miners mined blocks is the pool's moderator address. If the miners are working on blocks with a different payout address (ex. their own), the pool moderator can tell and act ...
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  • 5,114
5 votes

Is this a problem that a pool found 6 consecutive blocks?

It would be a statistical anomaly if this did not happen from time to time. With pools having over 20% or so, they're bound to find 6+ consecutive blocks every now and then. It's not a problem. They ...
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5 votes
Accepted

Who pays me when pool mining?

Broadly speaking, there are two ways of paying pool miners. The first way is to have a wallet and send payments to miners through that when they ask for them. The second way, which both eligius.st ...
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  • 28.7k
5 votes

i have good pc can i mine on it, if i don't have to pay for electricity?

No, you can't. The days of GPU mining Bitcoins are long past.
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5 votes
Accepted

Normal hashrate but no accepted shares in

200Mh/s is impossibly high for an HD6850 mining scrypt. My bet is that you're mining SHA256d, not scrypt. I don't see a -scrypt in your configuration file.
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5 votes
Accepted

Keeping valid shares for it's own when mining in a pool

The address the block reward goes to is in the data that is being hashed. That address is the pool's. If a miner finds a hash that meets the block difficulty, changing the address to the miner's own ...
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  • 786
5 votes
Accepted

Mining Block header bit reversing

Let's take a look at this block, because it only has one transaction (the coinbase): 000000000000000000eb2d0ed97a7b2cff7f1408417dca83908004beb6fd9b95 Let's grab the raw hex data: ...
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  • 11.3k
5 votes
Accepted

Does mining power of different miners add up in mining pools?

Mining is a lottery, not a race. The fastest miner doesn't always win. In general, if you have X% of the hashrate, you will find X% of the blocks. This is because not just all pools, but every every,...
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5 votes
Accepted

How miners with less power win?

That said, when the next block is being mined, again the same person will win because of his computing power. No. Higher mining power means just higher chances to mine a block. If there are 3 miners:...
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  • 2,047
5 votes
Accepted

How do we know which miner or pool mined a block?

We know which miner/pool mined a block only if that miner/pool chose to identify themselves. Most commonly, they do this by inserting their name or other recognizable signature in the block's ...
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5 votes

Why has BCH not received a 51% attack yet?

Because of the cost, specifically the opportunity cost. If a miner has 10% of the BTC hashrate, then if they pointed all of that mining power to BCH, they would still be losing money. With 50% of the ...
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  • 61.4k
5 votes
Accepted

Do pools distribute "jobs" to miners based on "failed" solutions which have already been submitted?

I've read simplistic descriptions of mining as simply incrementing the nonce until a solution is found, but I've also read much more detailed explanations which would imply much more is involved. Even ...
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  • 61.4k
5 votes
Accepted

Are there still miners or mining pool which refuse to implement SegWit?

No, in the past year, there were only 15 non-empty-non-segwit blocks mined which account for less than 0.03% of all blocks. Non-empty blocks without segwit transactions I've looked up the last ...
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  • 63.4k
5 votes
Accepted

Can a bitcoin transaction from a specific bitcoin address be banned? (via mining pools)

Yes, miners can censor transactions. A mining pool (or solo miner) can choose to not add a transaction to any blocks that they create. And, of course, this can be done dynamically so that transactions ...
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  • 61.4k
5 votes
Accepted

Why can't default minimum fee rate be changed to 0.1-0.2 sat/vByte?

The primary reason for the minimum feerate (and related things like the discard feerate) is preventing the use of the P2P network as a cheap global broadcast system. If it's easy to produce ...
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5 votes
Accepted

Does bitcoin mining pool hash randomly and separately

Most mining pools use the stratum protocol. Part of this protocol includes a field for part of the extraNonce, named extraNonce1. The extraNonce is just extra data that is put in the coinbase ...
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  • 61.4k
5 votes
Accepted

How do mining pools ensure pool members don't cheat?

The work given by a pool includes the coinbase transaction which defines the payment as going to the pool, and is unique to that. If the client modifies the payout address, the proof of work they have ...
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  • 15k
5 votes
Accepted

How bitcoin miners choose timestamp in block header when mining?

My original understanding of mining is to pick a timestamp (the timestamp of when miners started mining) and then fix it. There's no reason for that to be the case, as mining is progress-free. It is ...
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  • 15k

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