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Topic: Few questions before getting started (Read 178 times)

legendary
Activity: 4298
Merit: 3209
November 06, 2018, 04:56:29 AM
#5
I'm trying to understand how bitcoin mining works and some things don't make sense, as to my understanding of mining, a bunch of data is hashed and if the resulting hash has more leading zeros than the target difficulty value then you have a valid hash and your block is confirmed. If I only need to make around 2,147,483,647 hashes, then wouldn't a mining pool be able to guess an acceptable answer very quickly?

First, while the original white paper talks about leading zeroes, it doesn't actually work that way. The actual test requires that the hash's value to be less than a  "target" value.

Second, I don't know why you would think that 231 hashes would be sufficient. Hashes have 256 bits. Currently, an average of approximately  3x1022 hashes are required to find a block
full member
Activity: 406
Merit: 100
November 06, 2018, 02:59:26 AM
#4
Try to check this link: https://www.bitcoinmining.com
Maybe the answer to your question can be found here.

I also cannot understand your question since I am not into mining (very technical). Ask your question here.
member
Activity: 168
Merit: 24
November 05, 2018, 11:58:58 PM
#3
Maybe you can ask your question at here https://bitcointalk.org/index.php?board=14.0 this thread  is about mining so maybe any member would help and teach you about this and because i don't understand too about mining
hero member
Activity: 2268
Merit: 669
Bitcoin Casino Est. 2013
November 05, 2018, 08:38:13 PM
#2
I answered your other post about bitcoin mining and I also provide a link where you can learn about bitcoin mining and softwares to use for mining. I don't understand all of it as I'm not on mining bitcoin for some reasons. You can also search in google about halving as this is also related to bitcoin mining.
newbie
Activity: 28
Merit: 1
November 04, 2018, 09:46:09 PM
#1
I'm trying to understand how bitcoin mining works and some things don't make sense, as to my understanding of mining, a bunch of data is hashed and if the resulting hash has more leading zeros than the target difficulty value then you have a valid hash and your block is confirmed. If I only need to make around 2,147,483,647 hashes, then wouldn't a mining pool be able to guess an acceptable answer very quickly?
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