transaction validation | Bitcointalksearch.org

charlieSeen

sr. member

Activity: 241

Merit: 250

Quote from: Biodom on December 31, 2014, 10:42:33 AM

Quote from: Window2Wall on December 31, 2014, 01:35:01 AM

This is really not 100% accurate. You will only actually validate (confirm) a transaction if you actually 'find' a block at which point you will most likely (depending on your, or your pool's policy on transactions) confirm several hundred (if not thousand) transactions.

If you do not find any blocks then you will not validate/confirm any transactions.

Your miners work for the pool, pool operator divided earned btc between pool participants=you did process transactions (as long as your pool got blocks).
It is difficult to argue otherwise.

Like it was said above unless your machine actually finds a block your miners are not actually validating any transactions. All of the work your miner puts into unsuccessfully trying to find a block does nothing to validate transactions.

Kluge

donator

Activity: 1218

Merit: 1015

Quote from: Biodom on December 31, 2014, 10:42:33 AM

Quote from: Window2Wall on December 31, 2014, 01:35:01 AM

This is really not 100% accurate. You will only actually validate (confirm) a transaction if you actually 'find' a block at which point you will most likely (depending on your, or your pool's policy on transactions) confirm several hundred (if not thousand) transactions.

If you do not find any blocks then you will not validate/confirm any transactions.

Your miners work for the pool, pool operator divided earned btc between pool participants=you did process transactions (as long as your pool got blocks).
It is difficult to argue otherwise.

Only one hash solves the block. The other ~17,455,423,616,072,785,539,150 hashes are wasted. It's binary - you can't contribute to solving a block; you either solve it or you don't. If you have a 100PH/s farm and somehow mine for a year without finding a block, then scrap your equipment, you've literally contributed nothing toward solving transactions, contributed nothing to the difficulty target, and the equipment may's well have never existed except to benefit from the luck of others in your pool.

Neotox

legendary

Activity: 1120

Merit: 1000

Free & Fast Neotox Escrow http://bit.ly/1OGVykp

Quote from: goozman96 on December 30, 2014, 09:57:04 PM

That feels kind of low. 4TH/s to process just 1 transaction a day? Feels like a lot of wasted computing power.

but they also getting block mining rewards for this, can you imagine the day all bitcoin have been mined already and miners mining for tx fees, what value of bitcoin we can expect bloc rewards go below 0.0001BTC

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: goozman96 on December 30, 2014, 09:57:04 PM

That feels kind of low. 4TH/s to process just 1 transaction a day? Feels like a lot of wasted computing power.

A simple answer would be that there are not enough transactions yet.

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: Window2Wall on December 31, 2014, 01:35:01 AM

This is really not 100% accurate. You will only actually validate (confirm) a transaction if you actually 'find' a block at which point you will most likely (depending on your, or your pool's policy on transactions) confirm several hundred (if not thousand) transactions.

If you do not find any blocks then you will not validate/confirm any transactions.

Your miners work for the pool, pool operator divided earned btc between pool participants=you did process transactions (as long as your pool got blocks).
It is difficult to argue otherwise.

Window2Wall

full member

Activity: 191

Merit: 100

This is really not 100% accurate. You will only actually validate (confirm) a transaction if you actually 'find' a block at which point you will most likely (depending on your, or your pool's policy on transactions) confirm several hundred (if not thousand) transactions.

If you do not find any blocks then you will not validate/confirm any transactions.

goozman96

hero member

Activity: 728

Merit: 500

That feels kind of low. 4TH/s to process just 1 transaction a day? Feels like a lot of wasted computing power.

Biodom

legendary

Activity: 3892

Merit: 4331

Quote from: newIndia on December 27, 2014, 01:55:34 PM

Quote from: Biodom on December 27, 2014, 12:58:03 PM

With network at about 315 Ph right now and 80-100K transactions/day, if you are hashing at or above 4Th/s (two S4 or one SP30/SP31 or three SP20), then you are processing/validating at least one transaction/day on average, maybe a bit more.

Ya... but what's your point ?

Point is ...it is nice to contribute to the actual growth of the bitcoin economy. Since I have ~12 th, and, in effect, do transactions for four people a day (or rather four transactions a day)-that would be over 1000 transactions a year for maybe 1000 different people all over the world, including India, LOL. I think that it is a pleasant thought.

newIndia

legendary

Activity: 2226

Merit: 1052

Quote from: Biodom on December 27, 2014, 12:58:03 PM

With network at about 315 Ph right now and 80-100K transactions/day, if you are hashing at or above 4Th/s (two S4 or one SP30/SP31 or three SP20), then you are processing/validating at least one transaction/day on average, maybe a bit more.

Ya... but what's your point ?

Biodom

legendary

Activity: 3892

Merit: 4331

With network at about 315 Ph right now and 80-100K transactions/day, if you are hashing at or above 4Th/s (two S4 or one SP30/SP31 or three SP20), then you are processing/validating at least one transaction/day on average, maybe a bit more.

Topic: transaction validation (Read 870 times)