Can you mine your own transactions? | Bitcointalksearch.org

Velkro

legendary

Activity: 2296

Merit: 1014

Quote from: Iranus on April 02, 2017, 07:27:20 PM

Basically, no. You can only mine your own transaction if you mine a block - there's a block every ~10 minutes so as a solo miner you're very unlikely to do so.

This one, in theory u can, in practice, you can't Tongue

.
Mining is now mostly for professionals so u won't be able to mine ur own block to include ur transaction.

hermanhs09

hero member

Activity: 574

Merit: 500

Quote from: finales on April 02, 2017, 07:08:54 PM

When you set up Bitcoin mining, is it possible to mine only a specific transaction or is it random? Thanks!

It is but it is pretty impossible for you to mine a single block.

If you have mined that block though, you can include single transactions, even if the fees are below industry average. That is why ViaBTC has this free transaction accelerator, they simply put your transaction into their block once they mine one. BTC.com also has a transaction accelerator, but that site charges you for doing it whilst Viabtc doesn't.

But again, are you really going to mine a block? unlikely.

finales

newbie

Activity: 13

Merit: 0

Thanks for all the responses guys! I was just curious because if I wanted to make a transaction, could it possible to select that specific transaction when creating your block. I think it is mostly answered now. Mods can lock this if necessary!

Machine Funk

member

Activity: 144

Merit: 10

Quote from: finales on April 02, 2017, 07:08:54 PM

When you set up Bitcoin mining, is it possible to mine only a specific transaction or is it random? Thanks!

Yes but the likeliness to happen is so low. It is just an interesting question though nothing serious.
It is entirely possible but what difference will it make ?

susila_bai

hero member

Activity: 1260

Merit: 524

Quote from: odolvlobo on April 03, 2017, 01:44:27 AM

Quote from: finales on April 02, 2017, 07:08:54 PM

When you set up Bitcoin mining, is it possible to mine only a specific transaction or is it random? Thanks!

Yes. Each miner decides which transactions go into the blocks it mines.

However, it is important to understand that miners are competing to add their blocks to the block chain. The more hash power the miner has, the more likely that their block will be added.

It is also important to understand that if you are a member of a pool, then you don't get to choose transactions because you are just a hasher and the pool is really the miner.

Thank you very much, very nicely described the mining and accepting the transaction in blocks, after this reply i think OP wont have any doubt and lock this thread so that trolling of post should not happen.

odolvlobo

legendary

Activity: 4522

Merit: 3426

Quote from: finales on April 02, 2017, 07:08:54 PM

When you set up Bitcoin mining, is it possible to mine only a specific transaction or is it random? Thanks!

Yes. Each miner decides which transactions go into the blocks it mines.

However, it is important to understand that miners are competing to add their blocks to the block chain. The more hash power the miner has, the more likely that their block will be added.

It is also important to understand that if you are a member of a pool, then you don't get to choose transactions because you are just a hasher and the pool is really the miner.

kolloh

legendary

Activity: 1736

Merit: 1023

Yeah, it is technically possible but the odds of successfully mining a solo block is very low unless you have a ton of ASIC miners or something.

Iranus

hero member

Activity: 1792

Merit: 534

Leading Crypto Sports Betting & Casino Platform

Basically, no. You can only mine your own transaction if you mine a block - there's a block every ~10 minutes so as a solo miner you're very unlikely to do so. Mining pools (collections of miners who combine their hashpower in an attempt to mine a block), however, can decide to take certain transactions in their block. At first they'll take the ones with the highest fees, but some pools create transaction accelerators (some with a fee, some without e.g. ViaBTC) which allow you to try and fit your transaction into the next block that they mine.

dawnasor

sr. member

Activity: 280

Merit: 250

🌟-=BitCAD=-🌟 New_Business_Era

Quote from: finales on April 02, 2017, 07:08:54 PM

When you set up Bitcoin mining, is it possible to mine only a specific transaction or is it random? Thanks!

Its possible best example of this is viabtc they have a transaction accelerator tool that can mined a transaction when they get a block

finales

newbie

Activity: 13

Merit: 0

When you set up Bitcoin mining, is it possible to mine only a specific transaction or is it random? Thanks!

Topic: Can you mine your own transactions? (Read 1917 times)