One of the most common reasons for which miners go offline is when their profitability drops below the cost of electricity - this could either be the result of the BTC price dropping, or their local operating costs (costs including air conditioning, power, networking, hardware depreciation, etc.) rising, or the total network hashrate rising faster than they ...
Is the native Bitcoin client intended for mining?
Long long A decade or so ago, back in the mists of time, in prehistoric days when dinosaurs roamed the earth, early versions of the Bitcoin software did indeed include a mining capability that used the pitiful capabilities of CPUs. But this function has long been rendered defunct by the advance of ...
Are there any more reasons why a miner might switch off his/her system given that the complete process is automated?
I can think of a few more reasons a mining operation would be disrupted, they are perhaps more rare, but possible:
The miner loses access to the electricity needed to run the mining ASICs. For example, if a mining operation is capturing ...
Firstly, correct me if I'm wrong.
When a miner finds a solution for the block and broadcasts it to the other node, all the other nodes verify if it is a correct solution or not.
It's very trivial to validate the PoW, just hash the block header and then count how many "leading zeros" that hash contains (note that such description is theoretical. ...
I almost hate to provide a second answer to pair against RedGrittyBrick's beautifully worded answer, but there is a consideration that matters here beyond that of Mhash/s: profitability.
Most people run a miner for profit. Not many people are out there running miners just for the philosophical principle behind bitcoin.
The ASIC miners are extraordinarily ...
error in miner file, something to do with cpus
./configure with enable cpu mining fixed this
now able to make bfgminer
note similar issue from other users:
I read somewhere that if mining pools find a solution, then peer miners in that pool don't verify the solution and straight away go for the mining of next block on top of it. This is kinda unfair for the other miners. Do we have any system to check if a miner has validated the solution or not?
The miner would submit the valid block to the pool operator, who ...