Topic: What's behind the mining? Where is all that hashing power used? (Read 1452 times)
We are really cracking Chinese governments.
we are decrypting hashs for the NSA.. its cheaper for us to do it..
It'd actually be incredibly expensive if that were the case. To the tune of $450,000 per day ($164,250,000/yr). Just about any other way would be cheaper.
What do you mean? Electricity costs or bitcoins produced?
we are decrypting hashs for the NSA.. its cheaper for us to do it..
It'd actually be incredibly expensive if that were the case. To the tune of $450,000 per day ($164,250,000/yr). Just about any other way would be cheaper.
well i guess there's no definite answer what's behind all that power? it's not like it was built to make up a number and then try to crack it?
The only useful work that mining does is to record transactions into the block chain.
And heat your house
And heat your house
we are decrypting hashs for the NSA.. its cheaper for us to do it..
I think you mean we're decrypting NSA files, and selling them to the Russians... Now, put your tinfoil hat back on, Comrade...
Start here: https://en.bitcoin.it/wiki/Block_hashing_algorithm
If like that and want more, go here: https://en.bitcoin.it/wiki/Protocol_specification
If like that and want more, go here: https://en.bitcoin.it/wiki/Protocol_specification
we are decrypting hashs for the NSA.. its cheaper for us to do it..
It's solving SHA-256 algorithm - hashing the block header plus a nonce to find a value less than or equal to the current_target.
It is used to create a hash value with a number of leading zeroes that matches the current difficulty level. The hash is comprised of previous and current transaction data as well as some arbitrary data.
The hashing power goes to secure transactions and nothing else.
The hashing power goes to secure transactions and nothing else.
The subject says it all. Do we even know what is being done hashing power we produce?
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