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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  • 60.5k
5 votes

Information available to bitcoin miners in processing transactions

Miners have all the information about a transaction as anyone else looking at the pool of unconfirmed transactions (or the blockchain in case of confirmed transactions). From the transaction data ...
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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
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
4 votes
Accepted

Information available to bitcoin miners in processing transactions

Transactions are fairly compact public statements that get broadcast to the network. Miners can see all the information that everyone else can see, no more and no less. Transactions contain an input ...
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  • 62.4k
4 votes

What's the point for mining pools to set a higher target?

I think the quote is perhaps a little confusing. Higher target means lower difficulty (easier). Mining requires finding a block which hashes to a value lower than the target, so raising the target ...
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  • 11.3k
3 votes
Accepted

When do miners add a new block to blockchain?

The flow of a transaction is like this: Users create and submit transactions Nodes gossip the transaction in the network, validating them, adding them to their mempools and forwarding them Miners ...
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3 votes
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What hardware do pool operators use for calculating the hashmerkleroot?

They don't have any special hardware, as pools don't meaningfully produce merkle roots in any volume. Since the original answer in 2013 which pertained to GetWork, mining has moved entirely to using ...
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  • 15k
3 votes

What does verifying a fake transaction mean?

The tweet seems very confused. Most likely, they meant "60% of the hashrate" rather than supply. It's not clear from the tweet what they mean with "verify a fake transaction". ...
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  • 62.4k
2 votes

Are all "hosted mining" services necessarily scams?

If you want to mine bitcoin then you should buy a bitcoin ASIC miner and run it yourself. Do the necessary research first. Almost all cloud mining services are scams. But there have been a (very) few ...
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  • 8,319
2 votes

How does Bitcoin prevent race conditions?

What you describe happens normally and is not an issue in practice. Even if one eventually wins out wouldn't a lot of people lose money because of how many transactions were invalidated? No, those ...
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2 votes

Some questions about specifics on bitcoin mining

Question 1. How does software like NiceHash miner or other mining tools handle situations like this under the hood? There's literally nothing to do in this case. If you don't find a nonce that works, ...
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2 votes
Accepted

What would happen when transaction and orphan pools is full?

Those paying the lowest feerate are dropped, working similarly to the transaction selection logic for blocks which prioritizes transactions that have the highest feerate.
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  • 15k
2 votes
Accepted

Questions on Merkle root hashing for Stratum pools

The post I linked suggests that it's offloaded, but why - since wouldn't this be slower? Is the next Merkle root precomputed while hashing of the previous header is being performed by the ASIC? It is ...
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2 votes
Accepted

Is there a way to know how good a miner is choosing its transanctions to be mined from a fee maximization point of view?

As you describe, you cannot distinguish the reason for the divergence between the block you received and the block you get from getblocktemplate. It may be helpful to isolate the reasons: If you are ...
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  • 62.4k
1 vote

do miner hashrates vary during block production?

When a new block is found, miners will automatically switch to mining on top of the new block headers with an empty transaction set. Occasionally you can see this in the blocks, when two blocks are ...
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1 vote
Accepted

Are mining pools scalable? Can you split the block reward across a very large number of pool members?

You don't have one transaction per payee. The splitting of rewards to many recipients can be done in one transaction that pays to hundreds or thousands of pool members. If the number of payees makes ...
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1 vote

I've built a bitcoin miner and mined. Now what I do?

generated this hash [...]. What I do with this now? I'm pretty sure the things you should do include: Check that the prior block referenced by your block template is still at the head of the chain. ...
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1 vote

How can i find out if i am part of a mining pool is it possible by entering ip into any commands in console,

In my wallet.dat i have various encrypted data suggesting that i am some part of a pool So far as I know, the only data in a wallet.dat that is encrypted by the wallet is the private keys. This data ...
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1 vote
Accepted

Can Miners spend the data-insertion amount?

By data-insertion transactions you mean OP_RETURN outputs? Typically those outputs have amount 0, so there is nothing to spend. But if the amount is not 0, those coins are burnt, and nothing - even ...
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1 vote

Solo mining: Stratum from pool 0 detected new block at height

"Stratum from pool 0 detected new block at height" The first stratum server you are connected to updated its work to match the state of the rest of the network. That is, someone else found ...
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  • 15k
1 vote

Bit Coin Mining

(target + space - guess) * 100 / space So for example, if your numbers had to be less than 200 and you needed to be less than 20 but got 30, your guess is (20+200-30)*100/200 or 95% right. This makes ...
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1 vote

In a mining pool, can there be any two or more nodes mining a block using the same nonce?

In pool mining softwares, do they prevent this (calculate using same calculated-nonce) from occurring in general, like do they (the mining software) coordinate the nodes to mine using different nonces?...
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1 vote

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

Why can't we change default minimum fee rate to something below 1 sat/vByte? I think I'm reading in sipa's answer the number is simply set arbitrarily low enough so that spam is not a problem. If ...
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