Well there's quite a lot of people in China so what are the chances of them getting jobs
Basically, not a good chance. I mean there are just so many people in China.
Topic: Mining Bitcoin with a Paper and Pencil.... (Read 3519 times)
Basically, not a good chance. I mean there are just so many people in China.
Well there's quite a lot of people in China so what are the chances of them getting jobs
they are already doing it. crazy bastards!
Is that the farm In northern china with the cheap electricity that I saw the ad for? :p
lol Chinese will do anything for money.
Mining Bitcoin with pencil and paper: 0.67 hashes per day ? who would have thunk?
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
The article states...
Quote
I perform the first round of hashing to mine a block. Completing this round took me 16 minutes, 45 seconds.
^^^This is wrong. Author did not mine a block in 16 minutes, 45 seconds. He just calculated a Hash.
Isn't mining a block calculating a hash? How many hashes are needed to mine a block? (I'm not talking about difficulty, but about how many hashes does the algorithm actually need).
No one knows. Algorithm does not specify this. Its pure luck... or scientifically u can say entropy. Your first hash may meet the criteria as well as the nth hash.
That is NOT my question.
My question is: How many hashes you need in the algorithm? Given the correct nonce and transactions, how many hashes are used in the algorithm to get to the value that will be compared against the current difficulty?
I'm not talking about entropy and such, but about the actual algorithm.
Mining Bitcoin with pencil and paper: 0.67 hashes per day ? who would have thunk?
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
The article states...
Quote
I perform the first round of hashing to mine a block. Completing this round took me 16 minutes, 45 seconds.
^^^This is wrong. Author did not mine a block in 16 minutes, 45 seconds. He just calculated a Hash.
Isn't mining a block calculating a hash? How many hashes are needed to mine a block? (I'm not talking about difficulty, but about how many hashes does the algorithm actually need).
No one knows. Algorithm does not specify this. Its pure luck... or scientifically u can say entropy. Your first hash may meet the criteria as well as the nth hash.
That is NOT my question.
My question is: How many hashes you need in the algorithm? Given the correct nonce and transactions, how many hashes are used in the algorithm to get to the value that will be compared against the current difficulty?
I'm not talking about entropy and such, but about the actual algorithm.
U might like to check the following to easily understand the mining operation. That would probably make things clear to U about the requirement of the no. of hashes in the algorithm...
Q. What happens in a mining operation ?
A.
OR
You might like to read the following to understand Bitcoin mining in simple terms...
What a miner is doing when it's running is generating millions of hashes every second. A hash looks something like 00000000000000000b8cd4a8a7752ff8785f66232359273f619f6a6cb28d4644. A hash is always 64 characters long. Each block has a 'target' hash, which looks similar to the string of characters above. When the hash that your miner generates has a lower value than the target hash, you win the block. An example with smaller numbers would be a target hash of 0017b5 (note that this isn't an actual hash for bitcoin as it isn't 64 characters long, this is just an example). If your miner generates the hash 0017a5, you win the block. However, if it generates the hash 0017c5, you don't win the block. The order of the 'value' of the characters from lowest to highest value are 0, 1, 2, 3, 4, 5, 6, 7, 8, 9, a, b, c, d, e, f (which is actually hexadecimal no. system). As the difficulty increases, the 'value' of the target hash becomes lower, as more zeroes are added on to the beginning. This makes it harder for your miner's hash to have a lesser value than the target hash, so it gets harder to win the block. Notice how the example target hash above had 17 zeroes at the beginning, while the target hash of the first ever mined block had only 10 zeroes at the beginning.
Details: https://en.bitcoin.it/wiki/Block_hashing_algorithm
A.
A bitcoin block hash is a sha256 (32 bytes). The hashed data contains several things, including the current time, the previous block hash and a random "nonce". Also there's a "target" (depending on the total bitcoin hashrate) value being calculated and which gives the number of zeroes your block must start with to be valid. If your block hash doesn't starts with enough zeroes, then you should try again with another nonce.
OR
hi i never understood bitcoin mining and wnat to ask here
is bit coin mining is done by programmers?
and does this need any experiecne?
please explain for a newbie who dont nknow naything
is bit coin mining is done by programmers?
and does this need any experiecne?
please explain for a newbie who dont nknow naything
You might like to read the following to understand Bitcoin mining in simple terms...
What a miner is doing when it's running is generating millions of hashes every second. A hash looks something like 00000000000000000b8cd4a8a7752ff8785f66232359273f619f6a6cb28d4644. A hash is always 64 characters long. Each block has a 'target' hash, which looks similar to the string of characters above. When the hash that your miner generates has a lower value than the target hash, you win the block. An example with smaller numbers would be a target hash of 0017b5 (note that this isn't an actual hash for bitcoin as it isn't 64 characters long, this is just an example). If your miner generates the hash 0017a5, you win the block. However, if it generates the hash 0017c5, you don't win the block. The order of the 'value' of the characters from lowest to highest value are 0, 1, 2, 3, 4, 5, 6, 7, 8, 9, a, b, c, d, e, f (which is actually hexadecimal no. system). As the difficulty increases, the 'value' of the target hash becomes lower, as more zeroes are added on to the beginning. This makes it harder for your miner's hash to have a lesser value than the target hash, so it gets harder to win the block. Notice how the example target hash above had 17 zeroes at the beginning, while the target hash of the first ever mined block had only 10 zeroes at the beginning.
Details: https://en.bitcoin.it/wiki/Block_hashing_algorithm
Very interesting
Mining Bitcoin with pencil and paper: 0.67 hashes per day ? who would have thunk?
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
The article states...
Quote
I perform the first round of hashing to mine a block. Completing this round took me 16 minutes, 45 seconds.
^^^This is wrong. Author did not mine a block in 16 minutes, 45 seconds. He just calculated a Hash.
Isn't mining a block calculating a hash? How many hashes are needed to mine a block? (I'm not talking about difficulty, but about how many hashes does the algorithm actually need).
No one knows. Algorithm does not specify this. Its pure luck... or scientifically u can say entropy. Your first hash may meet the criteria as well as the nth hash.
That is NOT my question.
My question is: How many hashes you need in the algorithm? Given the correct nonce and transactions, how many hashes are used in the algorithm to get to the value that will be compared against the current difficulty?
I'm not talking about entropy and such, but about the actual algorithm.
Mining Bitcoin with pencil and paper: 0.67 hashes per day ? who would have thunk?
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
The article states...
Quote
I perform the first round of hashing to mine a block. Completing this round took me 16 minutes, 45 seconds.
^^^This is wrong. Author did not mine a block in 16 minutes, 45 seconds. He just calculated a Hash.
Isn't mining a block calculating a hash? How many hashes are needed to mine a block? (I'm not talking about difficulty, but about how many hashes does the algorithm actually need).
No one knows. Algorithm does not specify this. Its pure luck... or scientifically u can say entropy. Your first hash may meet the criteria as well as the nth hash.
That is NOT my question.
My question is: How many hashes you need in the algorithm? Given the correct nonce and transactions, how many hashes are used in the algorithm to get to the value that will be compared against the current difficulty?
I'm not talking about entropy and such, but about the actual algorithm.
I've been doing this since day 1. I use pen and paper to write a check, deposit it into my exchange account and buy bitcoin to trade for miners. It was fast for all but the BFL singles... Not even sure if I got those!
Mining Bitcoin with pencil and paper: 0.67 hashes per day ? who would have thunk?
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
The article states...
Quote
I perform the first round of hashing to mine a block. Completing this round took me 16 minutes, 45 seconds.
^^^This is wrong. Author did not mine a block in 16 minutes, 45 seconds. He just calculated a Hash.
Isn't mining a block calculating a hash? How many hashes are needed to mine a block? (I'm not talking about difficulty, but about how many hashes does the algorithm actually need).
No one knows. Algorithm does not specify this. Its pure luck... or scientifically u can say entropy. Your first hash may meet the criteria as well as the nth hash.
congrats you just solved a 25 btc block. at a rate of 10000000000000000:0
No, you're supposed to put the result in an envelope and mail it to the Bitcoin Foundation. I heard they have a P.O. Box specifically for this purpose.
This would be a great lesson in cryptography classes.
Mining Bitcoin with pencil and paper: 0.67 hashes per day ? who would have thunk?
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
The article states...
Quote
I perform the first round of hashing to mine a block. Completing this round took me 16 minutes, 45 seconds.
^^^This is wrong. Author did not mine a block in 16 minutes, 45 seconds. He just calculated a Hash.
Isn't mining a block calculating a hash? How many hashes are needed to mine a block? (I'm not talking about difficulty, but about how many hashes does the algorithm actually need).
Mining Bitcoin with pencil and paper: 0.67 hashes per day ? who would have thunk?
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
The article states...
Quote
I perform the first round of hashing to mine a block. Completing this round took me 16 minutes, 45 seconds.
^^^This is wrong. Author did not mine a block in 16 minutes, 45 seconds. He just calculated a Hash.
Jeez, imaging mining a block every 16 minutes.
Mining Bitcoin with pencil and paper: 0.67 hashes per day ? who would have thunk?
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
http://www.righto.com/2014/09/mining-bitcoin-with-pencil-and-paper.html
The article states...
Quote
I perform the first round of hashing to mine a block. Completing this round took me 16 minutes, 45 seconds.
^^^This is wrong. Author did not mine a block in 16 minutes, 45 seconds. He just calculated a Hash.
I wanna join in, seems quite cool.
let's grab some snacks, this is interesting 
This guy can do ASIC chip design
So how is it recorded to the blockchain
In a brainwallet. 
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