mining bitcoins manually - page 2. | Bitcointalksearch.org

odolvlobo

legendary

Activity: 4466

Merit: 3391

Quote from: ayurvedicurea2growtaller on July 07, 2017, 05:37:59 PM

I saw an article on the internet and it says we can mine bitcoins manually by hand written mathematical formula? if so how can I achieve the target of 1 -4 btc per year?

At the current difficulty, it takes about 500,000,000,000,000,000,000 SHA-256 calculations to earn 1 BTC.

If it takes a person 5 minutes to compute a hash and you want to earn 1 BTC in a year, you will need about 5,000,000,000,000,000 people. Unfortunately, that is about 700 thousand times the population of the planet.

achow101

staff

Activity: 3458

Merit: 6793

Just writing some code

You can't. You can't even mine 1-4 BTC in a year without significant investment in mining hardware (think thousands of dollars of specialized hardware). These hardware can mine trillions of times faster than you can attempting to mine by hand. There is nothing special about "mining by hand"; the network doesn't care nor does it know that you are "mining by hand".

The article you read is probably talking about how you can perform, by hand, the operations done in Bitcoin mining. It is just some fairly complex math. However this doesn't mean anything and is incredibly inefficient and just a waste of time.

It is important to note that the "mathematical formula" is not something that computers are trying to solve and that a block is found when someone does solve it. Rather it is that miners are taking numbers (the block data) and putting it through the formula and seeing if the output is what they want (it has to be less than a certain target). If it is not, then they repeat with different numbers. Eventually someone will get lucky and find a number that is less than the target and they have then found a block.

ayurvedicurea2growtaller

newbie

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I saw an article on the internet and it says we can mine bitcoins manually by hand written mathematical formula? if so how can I achieve the target of 1 -4 btc per year?

Topic: mining bitcoins manually - page 2. (Read 1763 times)