New answers tagged mining-reward
1
I understand a hash function is only one way function. You have an Input which produces a unique hash. This means that if multiple different parties are hashing the same input then their hash results must be identical, right?
Multiple parties will never be hashing the same information. Either the parties are coordinating or they're not. If they're ...
0
At least X number of leading zeroes.
More leading zeroes are harder. Fewer is not hard enough! Note that any arbitrary list of digits would be equally hard. A list of all zeroes is just a convenient choice used by Bitcoin. Miners are finding a hash whose first n digits matches some arbitrary number. They do it by generating huge numbers of hashes (varying ...
2
There is only way way to acquire Bitcoin without a previous utxo associated with them: Mine them.
You could pay a miner to mine directly to an address that you control, if you don't have the hashpower yourself.
If you pay someone else who transfers such coins to you, you've already destroyed the value as the act of transferring them will move then from the ...
2
No, this is not profitable.
Mining Bitcoin on anything except specialized ASIC machines is pointless, and you will never see any returns, especially with a phone.
Even with ASICs, profits in the range of 1000-3000 would require tens of thousands of up front investment, access to cheap power, and storage space for the machines.
1
Here are the approximate dates for the halvenings of the BTC block reward, as evidenced by the timestamp on those blocks. Note that the timestamp is not a perfect measure of when the block was found, but it is reasonably accurate, with an assumed margin of error of a couple hours (for more info on this see this question). The time stamp is a component of the ...
1
You can use my parser for all the local BTC raw (real) data.
Then you can find all transactions with
"TX from hash = 0000000000000000000000000000000000000000000000000000000000000000"
and then
"Value = XXXXXXXXXXXXXXXX"
(XX - HEX string value of Byte) would be your incremental sum of coin supply.
-1
Bitcoin block reward gets cut in half, mathematically limiting the reward. This happens every 4 years, roughly speaking. The block reward hits 0 when the amount mined is 21 million. The reward keeps declining until this happens.
5
If you want the total amount of BTC created, you simply need to iterate through the coinbase transactions (first tx in every block) and add up the output. You will then need to subtract the transaction fees for that block to avoid double counting those.
If you want a somewhat accurate money supply, you will need to do the above, and then also subtract any ...
5
The first transaction in every block is called the coinbase transaction, it is a special transaction that pays the miner their reward. This transaction adheres to different rules than the rest: it has no inputs, but has output(s).
The coinbase transaction outputs are allowed to be equal to or less than the block subsidy (newly minted coins) + all ...
4
The Bitcoin protocol allows block authors to create a limited amount of new bitcoins in the outputs of the coinbase-transaction (which also collects the transactions fees) in each block. The amount of the so called block subsidy is limited by the consensus rules.1 Creating more than the allowed amount makes a block invalid to other Bitcoin nodes.
Each full ...
1
When a miner find a valid hash he had to write the new block according to the bitcoin protocol rules, if he try to cheat, like writing that instead of the 12.5 bitcoin that issued to the bitcoin miners (him) it is 50 bitcoin, the network will refuse and ignore this block till he write it properly or someone else write it with the good hash and the right ...
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