Can bitcoins be traced by pool workers?


When a miner in a pool finds a valid block, the pool receives a reward (currently ~50 BTC) in a special generation transaction in the block. The address receiving the generation reward in a given block is known, and pools publish statistics on which blocks they found (and even if not, the miner who found it can in theory know which blocks he himself found if his mining software keeps a record of it), so the generation rewards can be tracked (to the same extent that any other Bitcoin transaction can be tracked).

The mathematical operation done when mining is calculating SHA-256 hashes of variants of a block header. You can learn more about mining for example at What exactly is...

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The concept of "worker" is necessary for the pool to track the hash rate of individual mining devices and adjust difficulty accordingly. If the difficulty is too high then it may take hours for you to get a share, and if difficulty is too low you may report a dozen shares every second and put unnecessary burden on the pool and on your network connection.

In addition to hash rate tracking, the pool also needs to assign different extraNonce values (this is part of data in the generation transaction) for different workers to ensure that workers do not work on colliding merkleRoot values. This helps eliminate duplicate shares.

If you run many different mining devices at different speed, then each device must use a different worker name so the pool knows to track them...

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All Bitcoin transactions are stored in a public ledger called the blockchain. The data stored in each of these transactions includes a bitcoin payment amount and the Bitcoin addresses of the sender and the recipient (among other things). Because every transaction uses the bitcoins from a prior transaction, and the blockchain is public data, every Bitcoin payment has a traceable history that can be viewed by anyone.

Bitcoin addresses are not themselves linked to a person or entity. That’s why Bitcoin is often called pseudonymous or pseudo-anonymous. However, a person’s identity can be associated with a Bitcoin address through other means. Once that occurs, it’s possible to determine that person’s transactions backward and forward through the blockchain history. A single anonymity breach can uncover an individual’s entire Bitcoin transaction history.

But how is an address linked with a person? Most commonly, the association occurs when people publish their name together...

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Bitcoin mining pools are a way for Bitcoin miners to pool their resources together and share their hashing power while splitting the reward equally according to the amount of shares they contributed to solving a block.

A "share" is awarded to members of the Bitcoin mining pool who present a valid proof of work that their Bitcoin miner solved. Bitcoin mining in pools began when the difficulty for mining increased to the point where it could take years for slower miners to generate a block.

The solution to this problem was for miners to pool their resources so they could generate blocks quicker and therefore receive a portion of the Bitcoin block reward on a consistent basis, rather than randomly once every few years.

Network Consensus

If you solo-mine, meaning you do not mine with a Bitcoin mining pool, then you will need to ensure that you are in consensus with the Bitcoin network. The best way is to use the official BitCore client.

If you...

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By tracing known suppliers to and from the spectrum...

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Bitcoin – the virtual banking currency of the internet – has existed for several years now and many people have questions about them. Where do they come from? Are they legal? Where can you get them? We've got the answers to those questions and more.

What Are Bitcoins?

Bitcoins are electronic currency, otherwise known as 'cryptocurrency'. Bitcoins are a form of digital public money that is created by painstaking mathematical computations and policed by millions of computer users called 'miners'.

Bitcoins are, in essence, electricity converted into long strings of code that have money value.

Why Bitcoins Are So Controversial

Various reasons have converged to make Bitcoin currency a real media sensation.

From 2011-2013, criminal traders made bitcoins famous by buying them in batches of millions of dollars so they could move money outside of the eyes of law enforcement. Subsequently, the value of bitcoins skyrocketed.


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Bitcoin transactions are sent from and to electronic bitcoin wallets, and are digitally signed for security. Everyone on the network knows about a transaction, and the history of a transaction can be traced back to the point where the bitcoins were produced.

Holding onto bitcoins is great if you’re a speculator waiting for the price to go up, but the whole point of this currency is to spend it, right? So, when spending bitcoins, how do transactions work?

There are no bitcoins, only records of bitcoin transactions

Here’s the funny thing about bitcoins: they don’t exist anywhere, even on a hard drive. We talk about someone having bitcoins, but when you look at a particular bitcoin address, there are no digital bitcoins held in it, in the same way that you might hold pounds or dollars in a bank account. You cannot point to a physical object, or even a digital file, and say “this is a bitcoin”. Instead, there are only records of transactions between different...

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This item has been corrected.

If you clicked the button above, then you are currently mining bitcoin, the math-based digital currency that recently topped $1,000 on exchanges. Congratulations. (It won’t do anything bad to your computer, we promise.)

New bitcoins are created roughly every 10 minutes in batches of 25 coins, with each coin worth around $730 at current rates. Your computer—in collaboration with those of everyone else reading this post who clicked the button above—is racing thousands of others to unlock and claim the next batch.

For as long as that counter above keeps climbing, your computer will keep running a bitcoin mining script and trying to get a piece of the action. (But don’t worry: It’s designed to shut off after 10 minutes if you are on a phone or a tablet, so your battery doesn’t drain).

So what is that script doing, exactly?

Let’s start with what it’s not doing. Your computer is not blasting through the cavernous depths of...

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Bitcoin is often perceived as an anonymous payment network. But in reality, Bitcoin is probably the most transparent payment network in the world. At the same time, Bitcoin can provide acceptable levels of privacy when used correctly. Always remember that it is your responsibility to adopt good practices in order to protect your privacy.

Understanding Bitcoin traceability

Bitcoin works with an unprecedented level of transparency that most people are not used to dealing with. All Bitcoin transactions are public, traceable, and permanently stored in the Bitcoin network. Bitcoin addresses are the only information used to define where bitcoins are allocated and where they are sent. These addresses are created privately by each user's wallets. However, once addresses are used, they become tainted by the history of all transactions they are involved with. Anyone can see the balance and all transactions of any address. Since users usually have to reveal their identity in...

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What is a Bitcoin Mining Pool? - Bitcoin News, Blockchain.

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BitRef will help you view the current balance of any Bitcoin address. You need only a device with the Internet and a valid Bitcoin address string. This is a safe service because it uses only public data; there is no need for login and password.

It is possible to monitor many Bitcoin addresses with one request. Just separate the different addresses with a "+" (plus) sign in the address field or in the URL. This way you can enter all your wallet addresses and monitor the entire wallet.

The tool shows the last 50 transactions for every address (or combination of addresses). It shows the date, amount and current balance for every transaction. You can also check the number of confirmations by keeping the mouse pointer over each transaction.

We have a browser extension for Chrome, Firefox and Opera. With the extension you can check Bitcoin address balance by just typing: "btc {space} bitcoin_address" in browser's address bar. Fast and easy.

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ConnectBTC, the Bitcoin network’s newest mining pool is announcing today its launch to the public.

ConnectBTC pool is developed and operated by Bitmaintech Israel, Bitmain’s first R&D center outside of China, working to innovate pooled mining services, and deliver advanced capabilities to bitcoin mining operations of all sizes.

Being the newest product out of Bitmaintech Israel’s lab, the ConnectBTC pool puts the latest in pooled mining services directly in the hands of miners. ConnectBTC’s pool provides highly detailed real-time information and analytics to miners, and gives mining operators a better understanding of their performance, without having to develop custom internal monitoring tools.

“Our role as pools is to provide miners with liquidity and stability. We provide miners with real time data in an easy to use UI, while keeping payment plans simple and stable. In recent years, pools have come up with imaginative new payout methods that confuse...

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