Do miners have to start over whenever a block is found?

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What is Bitcoin Mining?

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Bitcoin mining is making computers do complex math problems to help run the Bitcoin network, and miners are paid with bitcoin for contributing. Bitcoin mining itself is the process of adding new bitcoin transactions to the blockchain – the public ledger of all bitcoin transactions. A new block of bitcoin transactions is added to blockchain every 10 minutes and has been since bitcoin was created in 2009 by Satoshi Nakamoto. Whenever a new block is added to the blockchain, the bitcoin miner who successfully added the block is awarded newly generated bitcoins AND all the mining fees from people who sent a bitcoin transaction during that 10 minutes. Right now a new block rewards 25 new bitcoins, which is a ton of money!

Is Bitcoin Mining Hard?

It is easy to start mining bitcoins but it can be very difficult to profit from...

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Hello again team. How are we?

I've finally got my rig up and running after taking it on the chin and using Ubuntu Desktop as opposed to Server, and everything seems to be going pretty well. But now I want to up my game. Thinking about a few 6x R9 Nano rigs.

After doing a little testing, I've decided I'm going to Solo mine as I was getting a slightly higher hashrate using Parity/Ethminer than I was using Claymore on Ethermine.org, with a little more stability.

So my question is, is it possible, and how do I set up a local Parity node? Because I'm so new, not a programmer etc, all the guides mentioning API this, JSON and RPC/IPC that really mean little to me. Is any of this needed? In fact I can not actually find anything confirming that it's even possible. Just a lot of into about getting Parity and Geth to work together blah blah, which is what I'm trying to avoid (I think).

Is it as simple as running Parity on one of my rigs and run some...

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This article explains Bitcoin mining in details, right down to the hex data and network traffic. If you've ever wondered what really happens in Bitcoin mining, you've come to the right place. My previous article,

Bitcoins the hard way

described how I manually created a Bitcoin transaction and sent it into the system. In this article, I show what happens next: how a transaction gets mined into a block.

The purpose of mining

Bitcoin mining is often thought of as the way to create new bitcoins. But that's really just a secondary purpose. The primary importance of mining is to ensure that all participants have a consistent view of the Bitcoin data. Because Bitcoin is a distributed peer-to-peer system, there is no central database that keeps track of who owns bitcoins. Instead, the log of all transactions is distributed across the network.

The main problem with a distributed transaction log is how to avoid inconsistencies that could allow someone to spend...

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For the Discord code, refer to the Discord Integration page.

Codes are given out by berezaa in Twitch streams or on Twitter. On a few occasions, other locations. They usually give Twitch Coins, Unobtainium Crystals (uC), and Mystery Boxes. A few codes even give exclusive items. Most codes eventually expire, and all of them can only be redeemed once. If a server is shut down before an auto-save, items retrieved from the codes are sometimes lost but the codes will still count as used.

NOTE: The MH Wikia does not have authority to fabricate codes. Only berezaa and a handful of other people are capable of doing so. We only specialize to share them.

A Few Rules/Notes:

Once codes expire, they will be removed from the table. Only put the 'Code' and 'Contents'. Extra notes are unnecessary. Feel free to comment on the Replacement to the Codes Comment Section forum post, to notify of new codes, and codes that've become invalid. Make sure the code is...
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You are trying to analyze random process. Number of shares which you need to solve a block is random. Difficulty means only what is average number of shares you need to solve a block in long run.

If I take Slush example again. Block took 16h instead of average 2h. That means it took 8 times more time. If we estimate, that hashrate was constant whole time, it took 8 times more shares that was difficulty.

We have ~11,5Gshares right now, we started with this block at difficulty 3,8G I think. So if we are unluck like at Slush's pool, it would take we wold need 30,4Gshares to solve this block. (Or even more if we take rising difficulty in calculation) Let's hope this won't happen, but it is perfectly possible.

More miners means we mine faster, so we reach e.g. 30,4Gshares faster, but reward would be lower as well, since we need to pay extra mines as well.

What I'm trying to say, that number of miners on a pool or hashrate of a poll have no effect on your...

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“I think P2Pool makes mining fun again.” -gmaxwell, Bitcoin Core Developer.

Decentralized Mining. Supports the network and prevents a 51% attack. It's good for Bitcoin and it's good for you.

Trust-less Payments. P2Pool pays you immediately every time a block is found, we never touch your Bitcoin.

Typically a miners first question is how much and how often will I be rewarded for my work, and we will get to that in a moment... Before we do, there are some things you should be aware of, things that set P2Pool apart from any other mining pool. Things that make P2Pool awesome.

Unlike centralized mining pools, P2Pool is based on the same peer-2-peer (P2P) model as Bitcoin, making the pool as a whole highly resistant to malicious attacks, and preserving and protecting the decentralized nature of Bitcoin.

When you launch a P2Pool node; it seeks out, connects with, and shares data with a decentralized network of other P2Pool nodes (also known as...

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Mining pools are an essential part of the Bitcoin ecosystem. They enable many small miners to operate at reasonable business risk. However, they also pose a risk to the currency, as successful open pools have been able to grow dangerously big in the past.

Until now, there have been few forces to counteract this phenomenon. Gavin Andresen, chief scientist of the Bitcoin Foundation, has repeatedly urged miners to use smaller pools, and researchers, including ourselves, have suggested technical fixes to reduce pool size (here, and here). But alas, community pressure has only had limited success, and technical solutions are still under development and far from production.

Today, I will explain why all this may not be necessary. In an analysis I placed in arXiv, I show that open pools face what I call the miner's dilemma -- a version of the prisoner's dilemma where miners can choose to attack or leave each other alone. I found that any open pool can increase its own...

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Frequently Asked Questions

Q: What is P2Pool?
A: P2Pool is a decentralized mining pool that works by creating a peer-to-peer network of miner nodes making the pool as a whole highly resistant to malicious attacks, and preserving and protecting the decentralized nature of Bitcoin and other Altcoins.

You can find more useful information at p2pool.org, the P2Pool WiKi and Guide for mining efficiently on P2Pool.

Q: How is P2Pool different?
A: P2Pool has it's own sharechain with a fast target speed of 10 seconds per share. This sharechain is used between nodes to distibute the work. Do not confuse the P2Pool sharechain with a coins blockchain. Since the P2Pool sharechain has such a rapid expiration of work you will notice a lot of restart messages to the miner.

It may take some time for smaller miners to obtain a share. This will result in an increase of variance but over time you should experience higher payouts when compared to other...

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What is Bitcoin Mining?

Computers around the world 'mine' for bitcoin by competing with each other to solve complex cryptographic problems. People make transactions on the Bitcoin Blockchain constantly, and all transactions need to be recorded in the public ledger. In centralized systems, there is a single authoritative entity tracking all transactions. If the ledger's keeper goes offline or is hacked, the whole system stops working. The Bitcoin ledger, called the Bitcoin Blockchain, is distributed and maintained by a multitude of independent entities all over the world. It guarantees unmatched resilience and censorship resistance of Bitcoin compared to centralized ledgers.

As there is no single authority in Bitcoin, independent transaction processors need to agree on the common ledger. The Bitcoin Blockchain manages this by collecting freshly made transactions into lists called blocks. Whenever a new block of transactions is created, it is added to the Bitcoin...

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Since you are mining with your CPU I suggest you use Wolf's miner. This is assuming your CPU supports AES-NI. You can google your processor to find out. Also note the amount of L3 cache as this will determine how many threads are optimal to use. 2MB per thread is recommended. If your processor doesn't support AES-NI I find the original LucasJones CPU miner to be a bit better. With your HR I think think Moneropool's starting difficulty of 25,000 is too high.

As far as which pool, in the US try Monerohash.com port 3333 and their fee is 1.6% They also lists other pools, https://monerohash.com/#network In Europe try http://minexmr.com/ probably port 5555 and their fee is 1%

You can run the miner totally independent of anything else related to Monero. I am an idiot with computers and have only used windows. All I remember is downloading the miner and with help, creating a bat file which is used to start it. The bat file was where I put some like: minerd -a cryptonight -o...

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FeatherCoin – How to get started.

To begin mining Feathercoin (FTC) you need a few things like (i) a FTC wallet to hold FTC’s, (ii) a computer to mine FTC’s and (iii) some basic knowledge on the mining process.

Below, I will explain the steps to get your mining operation started. First, we will deal with setting up your first FTC wallet and using it. After you have become familiar with the FTC wallet and its use, we will continue with setting up your PC for mining FTC.

1. Create a FTC wallet
First, download the FeatherCoin-qt client.
Windows or Mac
http://www.feathercoin.com/

Once you have downloaded the client, unzip the files to a location you like (e.g. (in Windows), “C:\Program Files (x86)\Feathercoin”). Feathercoin has no installer – it is just an executable – so you place the files at the desired location yourself.

2. Run the client for the first time
Now launch the file ‘feathercoin-qt.exe’ located in your Feathercoin...

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Hdout tmj Hutmors

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The early days of Bitcoin mining are often described as a gold rush.

Satoshi Nakomoto’s invention of Bitcoin, “a peer-to-peer electronic cash system,” opened up an entirely new frontier, not just of freedom but of occasionally outrageous profits.

Those with a strong interest in such things, namely cypherpunks, cryptographers, technically-minded libertarians and assorted hackers, were first to stake their claim.

But is there still gold in them thar hills?

The fact is:

Bitcoin mining has grown from a handful of early enthusiasts into a cottage industry, into a specialized industrial-level venture. The easy money was scooped out a long time ago and what remains is buried under the cryptographic equivalent of tons of hard rock.

The sad truth is:

Only those with specialised, high-powered machinery are able to profitably extract bitcoins nowadays. While mining is still technically possible for anyone, those with underpowered...

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Introduction

Tired of trying the same old builds, or looking through a 'budget' guide only to realise it is not as budget as you thought? Want a build instead that can run almost all map mods, while still instagibbing screens with almost total freedom over gear selection? Want to be the carry in a group? Then look no further!

This arc miner build is something I have been playing around with for the past two leagues or so, but really came into power with the introduction of the Assassin ascendency class. It is incredibly cheap (basically put anything on that you want except for the Tremor Rod), and has a high clear speed for the investment. Keep in mind though that it is a build that you need to pay attention for - you defence is mainly your own movement & instagibbing things. It is also easy to do Atziri with this build (although not sure about uber).


Strengths

Quick clear + quite good single target damage

Reflect/corrupting blood immune

Extremely...

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The Challenges Of Decentralization

Creating an entirely digital currency with no central authority overseeing the transaction records presented several significant challenges that would need to be overcome. One significant characteristic of anything digital is that unlimited perfect copies can be made of it. How could a decentralized and functional currency be created without this fact being exploited? How do you stop someone from creating a copy of an incoming transaction that gave them money, altering a few details, and doubling their income? Or how do you make sure there’s no way for someone to spend the same money twice? Or buy something then alter the transaction record afterward so that they have the money back, along with whatever it is they purchased? Bitcoin solves these issues with several very innovative measures.

Validation By Peers

Bitcoin embraces the “perfect digital copy” principle, and uses it as an advantage by distributing a...

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Last updated: 22nd December 2014

In traditional fiat money systems, governments simply print more money when they need to. But in bitcoin, money isn’t printed at all – it is discovered. Computers around the world ‘mine’ for coins by competing with each other.

How does mining take place?

People are sending bitcoins to each other over the bitcoin network all the time, but unless someone keeps a record of all these transactions, no-one would be able to keep track of who had paid what. The bitcoin network deals with this by collecting all of the transactions made during a set period into a list, called a block. It’s the miners’ job to confirm those transactions, and write them into a general ledger.

Making a hash of it

This general ledger is a long list of blocks, known as the 'blockchain'. It can be used to explore any transaction made between any bitcoin addresses, at any point on the network. Whenever a new block of transactions is created, it is...

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Ronald Lewis, Historian: In most cultures where there are coal miners, middle class people and above think they're animals -- literally, and they treat them that way, and they know that. So what they do is reverse that matter and they take pride in the fact that they can actually survive in such a place. That makes 'em hard, and they stand on their own, and they don't care what the public thinks.

Narrator: Strangers rarely found their way into the coal camps of southern West Virginia. So when a matronly older woman walked into a camp one fall morning in 1901, the local storekeeper was curious. He invited her in and asked her who she was and what was her business in town. The answer appeared to unnerve him.

She was the notorious "Mother" Jones -- there to convince the coal miners in the area to join her union: the United Mine Workers of America, the UMW.

James Green, Author, The Devil Is Here in These Hills : Whenever somebody came down like Mother Jones to talk...

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What is a UASF?

UASF stands for User Activated Soft Fork. It’s a mechanism where the activation time of a soft fork occurs on a specified date enforced by full nodes, a concept sometimes referred to as the economic majority. A UASF requires a lot of industry support and coordination, which is good practice for eventual hard forks which requires even more industry coordination. In the past, a UASF was successfully carried out to activate the P2SH soft fork (BIP16). The UASF concept was combined with SegWit activation in the BIP148 proposal which can be found here: github.com/bitcoin/bips/blob/master/bip-0148.mediawiki.

UASF Signaling

sourced from uasf.saltylemon.org

What is a MASF?

MASF stands for Miner Activated Soft Fork. It’s a mechanism by which miners trigger activation of soft forks when a majority signals the readiness to upgrade. This allows for a faster activation time for the soft fork, leaving full nodes to upgrade at...

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Intro

Lately, I’ve been trying to earn some money by mining the Bitcoin alternatives, Quarkcoin, Litecoin, Dogecoin. After creating a Guide on How to Start Mining Quarkcoins and other Guide. This is the DEAD SIMPLE Guide to the Best CPU Mining Software! No Special Hardware Needed, No Video Card needed, No Special Drivers Needed. Just download, install and your good to go!

The Coins

Windows Download – Wallet Direct Link

More Info – Tech Specs , Covert to USD, Current Ranking

Exchanges – ( Bter my Personal Favorite) btc-8 ; coins-e

Pool: http://dtc.gpool.net/balance

2.0.3 Update – Replaced DogeCoin in the CPU Miner Software

Windows Download – Wallet Direct Link

More Info – Tech Specs , Current Ranking

Exchanges – Cryptsy, ( Bter my Personal Favorite)

Pool: http://hvc.1gh.com

Windows Download – Wallet Direct Link

Cheatsheet – Tech Specs , Current price in...

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