Just now, I found an orphaned block, Block #288064!

DrG

legendary

Activity: 2086

Merit: 1035

Quote from: Icon on March 01, 2014, 09:58:36 PM

so.. orphan blocks to my under standing is you lost the race sorta. And someone else got awarded the 25 btc for being the first or awarded the 25 btc by the rest of the miners.. I really don't see how you can lose/waste mining power.

Icon

It's like winning a race and not showing up for the medal ceremony and thereby losing your medal (the medal being the 25BTC). If you went to the race and did all the work to win and get no reward, isn't it wasted work?

firejuan

sr. member

Activity: 256

Merit: 250

Because it's sterile...

You can't think in terms of Gh/s for solo mining you have to be in the Th/s and almost into the Ph/s to get a reliable return.

inoob

newbie

Activity: 31

Merit: 0

Quote from: muchogas on March 01, 2014, 09:48:49 PM

You must have really powerful hardware in order to solo mine these days!!!

what would be a sensible minimum in GH?

Icon

hero member

Activity: 821

Merit: 503

so.. orphan blocks to my under standing is you lost the race sorta. And someone else got awarded the 25 btc for being the first or awarded the 25 btc by the rest of the miners.. I really don't see how you can lose/waste mining power.

Icon

inoob

newbie

Activity: 31

Merit: 0

Quote from: DrG on March 01, 2014, 12:14:34 AM

Quote from: inoob on February 28, 2014, 09:02:36 PM

Quote from: Bitalo_Maciej on February 27, 2014, 04:55:17 AM

If you are solo mining it means you solved the block and won 25BTC plus transaction fees. If you're mining in a pool it means you solved a block for the pool and the pool gets 25BTC and fees and distributes them to the pool base.

Always wondered about the details on that. Thank you.

muchogas

newbie

Activity: 43

Merit: 0

You must have really powerful hardware in order to solo mine these days!!!

Bitalo_Maciej

member

Activity: 80

Merit: 10

Lead developer

These articles should help you understand how Bitcoin mining works:

http://codinginmysleep.com/bitcoin-mining-in-plain-english/
https://en.bitcoin.it/wiki/Mining

DrG

legendary

Activity: 2086

Merit: 1035

Quote from: inoob on February 28, 2014, 09:02:36 PM

Quote from: Bitalo_Maciej on February 27, 2014, 04:55:17 AM

It's does happen from time to time: https://blockchain.info/orphaned-blocks

Orphaned blocks happen because of how the Bitcoin network reaches consensus on the blockchain. Because there is no central storage for it, every Bitcoin client stores its own version. It can be the case that a majority of nodes have one version of blockchain, but then a smaller minority have another, with two more fresh blocks. After the majority notices that it no longer has the longest blockchain, it will switch to the other one. This can happen when two miners produce blocks at similar times.

Note that blocks only contain transaction IDs. No money is lost during this blockchain reorganization*, because the transactions that were in the orphaned block will be nevertheless included in subsequent blocks.

*actually, the 25 BTC reward from the orphaned block is lost, so the mining power of miners was wasted in that case.

Pleas explain to me what finding a block is. Does that mean you stumble upon 25BTC, or that a round has ended quickly. I'm NEW but learning!

If you are solo mining it means you solved the block and won 25BTC plus transaction fees. If you're mining in a pool it means you solved a block for the pool and the pool gets 25BTC and fees and distributes them to the pool base.

inoob

newbie

Activity: 31

Merit: 0

Quote from: Bitalo_Maciej on February 27, 2014, 04:55:17 AM

It's does happen from time to time: https://blockchain.info/orphaned-blocks

Orphaned blocks happen because of how the Bitcoin network reaches consensus on the blockchain. Because there is no central storage for it, every Bitcoin client stores its own version. It can be the case that a majority of nodes have one version of blockchain, but then a smaller minority have another, with two more fresh blocks. After the majority notices that it no longer has the longest blockchain, it will switch to the other one. This can happen when two miners produce blocks at similar times.

Note that blocks only contain transaction IDs. No money is lost during this blockchain reorganization*, because the transactions that were in the orphaned block will be nevertheless included in subsequent blocks.

*actually, the 25 BTC reward from the orphaned block is lost, so the mining power of miners was wasted in that case.

Pleas explain to me what finding a block is. Does that mean you stumble upon 25BTC, or that a round has ended quickly. I'm NEW but learning!

evansearle42

sr. member

Activity: 366

Merit: 250

Quote from: bithernet on February 27, 2014, 04:47:02 AM

https://blockchain.info/block-index/471296
https://blockchain.info/block-index/471308

Does it happen oftenly?

I'm a little bit interested in this kind of the situation.

that is unlucky..

bithernet

hero member

Activity: 661

Merit: 503

A simple and secure Bitcoin wallet!

Thanks for your reply!

Wink

Bitalo_Maciej

member

Activity: 80

Merit: 10

Lead developer

It's does happen from time to time: https://blockchain.info/orphaned-blocks

Orphaned blocks happen because of how the Bitcoin network reaches consensus on the blockchain. Because there is no central storage for it, every Bitcoin client stores its own version. It can be the case that a majority of nodes have one version of blockchain, but then a smaller minority have another, with two more fresh blocks. After the majority notices that it no longer has the longest blockchain, it will switch to the other one. This can happen when two miners produce blocks at similar times.

Note that blocks only contain transaction IDs. No money is lost during this blockchain reorganization*, because the transactions that were in the orphaned block will be nevertheless included in subsequent blocks.

*actually, the 25 BTC reward from the orphaned block is lost, so the mining power of miners was wasted in that case.

bithernet

hero member

Activity: 661

Merit: 503

A simple and secure Bitcoin wallet!

https://blockchain.info/block-index/471296
https://blockchain.info/block-index/471308

Does it happen oftenly?

I'm a little bit interested in this kind of the situation.

Topic: Just now, I found an orphaned block, Block #288064! (Read 1971 times)