1. hash of previous block which I get only once previous block is broadcast. I assume that was by someone else
it's not a hash of previous block, it's more like a record-book for all previous blocks,this is what block height refers to, the number's of previous blocks that are"included in it" which were mined in the past.
2. Some representation of 1500 transactions
this is false, the protocol does not force any min number of transactions in the block, the one who solves the block "chooses" what and how many transactions to include in their block, they can simply boradcast it with 0 transactions ( in fact it's more like 1 transaction if you count the actual reward transaction by the coinbase to the miner), the 1500 transactions is nothing but an average. the last block at the time of posting this had a bit over 2800 transactions.
3. A new hash made up by #1 and #2 which is expensive to get.
the new hash has nothing to do with any of this, it's a whole different new round based on the current difficulty.
Now the question is that majority of the miners should somehow reject my block - and that is what I am trying to determine - what is the algorithm that tells them to not accept this block.
ok the easiest way to think of mining is this , you go to a test with many different people, every 10 mins the examiner asks a question, the first to answer it, raises their hand and says the answer.
prior to the exam, every question has a reward box with a locker, everyone was given a key that can be reshaped to represent their answer, once somebody" thinks" they have the answer, they will shape their key, go to box, try to unlock the locker, if it's unlocked, he shouts in the exam room and say i found the answer, they confirm that his key opened the locker , and agree to give him the reward.
now assuming the first question was 1+1 = 2
everyone now knows the answer, you knowing it before them, makes no difference to anybody as the next question can be,
what is the population of china main land excluding everyone from age 1 to 30 and 35 to 100 and those who have a white pair of shows?the person who answered the 1+1 = 2 has no advantage over the other candidates just because he knew 1+1 =2.
the only advantage anyone has is the number of answers they can give compared to others which is [HASHRATE] , of course luck plays a role in this, someone might give a million answer in a minute and still fail while a lucky miner says 345345 people and turns to be the correct answer. but chances are those with more trials will beat out those with less.
the examiner/teacher wants to maintain a 10 minute window for every question, so after every 2016 questions, the examiner takes the average time it took you all to answer the questions, if it's less than 10 mins, he increases the difficulty of the questions to slow you down, if it's more than 10 mins he gives you easier questions.
as stupid as my example sounds , this is an overall idea of how mining works, if you at least understand the this exam "story" then you should understand that your theory won't apply.
