Is pre-mining of a future block possible?

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In March, the price of an Ether cryptocurrency token rose to an all-time high of around $25. This was good news for investors in Ethereum—the blockchain-based distributed computing platform that uses Ether as its currency—who had watched the cryptocurrency's price stagnate at under $10 since its launch in July 2015. But it also had another profound effect on shaping the network: For the first time ever, it was truly profitable to mine Ether.

I had been entertaining the idea of building an Ethereum mining rig for months and the price surge in May made it seem like as good a time as any to begin the process. So I sold some of my Ether, bought some computer hardware, and set to work learning about building PCs and the art of Linux.

But before I dive into the unnecessarily painful process of setting up an Ethereum mining rig as a complete n00b, let's brush up on some Ethereum basics.

Mining is the term used to describe the process of extracting cryptocurrency...

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Ethereum builds on blockchain and cryptocurrency concepts, so if you are not familiar with these, it’s worth reading a gentle introduction to bitcoin and a gentle introduction to blockchain technology first. This article assumes the reader has a basic familiarity with how Bitcoin works.

What is Ethereum?

Ethereum is software running on a network of computers that ensures that data and small computer programs called smart contracts are replicated and processed on all the computers on the network, without a central coordinator. The vision is to create an unstoppable censorship-resistant self-sustaining decentralised world computer. The official website is

It extends the blockchain concepts from Bitcoin which validates, stores, and replicates transaction data on many computers around the world (hence the term ‘distributed ledger’). Ethereum takes this one step further, and also runs computer code equivalently on many...

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Bitcoin networks have been growing and developing significantly and becoming more widespread among traders, investors, customers and business owners. Since 2009 when Bitcoin first appeared on the market, the price of Bitcoins has been rapidly increasing, up to $1,100 per coin and decreasing to as low as $300 per coin over a short period. Today, its price sits between $400 and $500 per coin. The Bitcoin network is not fixed or stable, it is developing over time. Therefore, it is interesting and difficult at the same time, to understand what it is going to happen in the next few years. Let’s disclose several potential ways that Bitcoin may develop and discuss what threats the network may face.

The Monopoly of Big Mining Pools

The first and the most problematic issue with Bitcoins network development is the centralization of the mining process. Today, just as a few years ago, mining is an unprofitable deal for a solo miner. Even if you have the latest ASIC and...

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This article applies to the 21 Bitcoin Computer only. If you use another platform, please see the Introduction to 21.


Mining bitcoin used to be easier than buying it; indeed, before the first bitcoin exchanges arose, it wasn't even possible to buy bitcoin at all.

The 21 Bitcoin Computer is a step along the path towards redecentralizing mining. To do this, we've introduced a concept we call "buffered pool mining", which smooths out undesirable variance in the time to mine bitcoin.

At a high level, the goal of buffered pooled mining is to allow each participant in a mining pool to draw bitcoin on demand from their current and future hashrate contribution without waiting for a long or unpredictable amount of time. This quantity of bitcoin is large enough for many programming purposes, such as micropayments.

To explain how it works in detail, let's review how traditional mining works, and then pool mining, and then get into buffered pool...

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the top 15 user have more then 1000mh/s

Top Miners Miner Hashrate 1 0xe9e98b6688051a3369b1de38166a799581e7c040 10444.80 Mh/s

2 0xe48430c4e88a929bba0ee3dce284866a9937b609 5404.80 Mh/s

3 0x6d84df1cfad609eac476cbc2553390bfc23cf6fc 4905.60 Mh/s

4 0x44563ad09aa25da0734753238c092e2dc538d885 4195.20 Mh/s

5 0x97f4c9c4d1857d470229f5e69b94a7d164644323 2928.00 Mh/s

6 0x65613694c459238b41cface0a8cd80ee5b5f8d67 2313.60 Mh/s

7 0x0dbad90c967bffea4d6b589c0d2af50a0ea16304 2160.00 Mh/s

8 0x788c057e3e19e0b7d2f8a115de6365e6f6844b11 2044.80 Mh/s

9 0x1e0facc4742e5dff84100022f6ea03b6e95d495a 1804.80 Mh/s

10 0x13e159a44204140e075fc4994aaf34d46408cc5d 1785.60 Mh/s

11 0x93b56d516644adda311d995af1c5d33acee80bdc 1747.20 Mh/s

12 0x065f9086313e11114a319745e02fc0670e2812c1 1708.80 Mh/s

13 0x68b9d3c36d3c34f877bdf18101fc5776dd14fb77 1699.20 Mh/s

14 0x6a8cc233e14f874983bb2f37d1de706f6910ef0b 1689.60...

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Considering a bitcoin mining hardware purchase? Make a more informed decision with our Bitcoin Mining Dashboard.

In early 2013 bitcoin mining saw the start of the application specific integrated circuit (ASIC) revolution. ASICs are customized components that perform the calculations necessary for bitcoin mining significantly faster than any hardware that came before it. To anyone following the exponential growth that has occurred over the last six months it is clear that this story is nowhere near finished.

The Current ASIC Environment

There are two factors driving ASIC adoption: ASIC chip design, which is limited by technical expertise, and production capacity, which is limited by funding and relationships with manufacturers. The first generation of ASIC chips – produced by ASICMiner (AM), Avalon, and Butterfly Labs (BFL) – were designed in-house and, with the exception of AM, have been fraught with production delays.

ASICs are stamped out using...

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Bitcoin as it exists today can be used for transactions at any distance and therefore can be used in space or on other planets. However, some effects of latency are amplified due to the way mining and the block chain work, and mining will need to be centralized to the neighborhood of one planet. For improved latency, each planet should have its own currency or sidechain.


In Bitcoin, a block is produced every 10 minutes on average. (This is called Bitcoin's block interval.) This value is just fine for mining on Earth, but it is too low for mining on more than one planet at the same time.

Say that some colonists go to Mars, bringing with them mining hardware equal to 20% of Bitcoin's mining power. But when they start mining there, they find that their rate of stales (blocks that end up getting rejected) is very huge, probably nearly 100%. What's going on?

This happens because there is a communications delay of up to 20 minutes between Earth and...

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In Part 1 we took a look at the incentives involved in Bitcoin mining and how they are used guarantee a single transaction history needed to prevent bitcoins from being double spent. In this post we will take more a technical look at the cryptography involved and how it is used to secure the network. As I said previously, Bitcoin is very accessible. While we will be discussing cryptographic concepts, it shouldn’t discourage you from continuing further.

Cryptographic Hash Functions

Before moving forward we should take a moment to learn about hash functions since they are used all throughout the Bitcoin protocol. To put it simply, a hash function is just a mathematical algorithm that takes an input and turns it into an output. For example, suppose we have an algorithm which just adds all the digits in the input string together. If our input is 1234 we would get an output of 10.

1234 ==> 10

Simple enough. However, there are certain properties of really good hash...

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One of the main factors people look at when it comes to mining any form of cryptocurrency is the overall cost of electricity. There are many variables that go into the total cost of mining, but none of them are more important than the cost of powering the mining devices. Many people think that using a form of renewable energy, such as the Sun, is the way to cut mining costs, but is there really a future in mining bitcoins with solar power?

Past Solar Miners

The idea of mining bitcoins with solar power is an idea that has actually been around for quite some time. It didn’t take much computing power to mine bitcoins in the early days of the cryptocurrency, so mining bitcoins with a solar powered laptop actually made sense. There have been a few people who have setup mining operations that are powered by nothing but solar panels, but they usually end up running into the same issues. While it only took a few solar panels to create a practical mining operation in the past,...

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There are ways to profit with bitcoin mining. Ways to earn from bitcoin mining typically involve upfront investment of mining hardware. Raw mining earnings are calculated by mining power of your bitcoin mining hardware, measured in hashes per second, and the current difficulty and block reward of the bitcoin network.

Most modern hardware measures its power in TH/S (trillion hashes per second) please note that bitcoin mining is not a get rich quick scheme. This article will discuss the factors affecting profit, best process to follow to make a profit if it’s possible with your power costs, limitations on small scale operations, how to secure your earnings from theft/loss, alternative mining options, and prospects of making a profit. This is a moderate risk investment and many factors which will be discussed in this article must be considered.

What factors affect profit?

To earn from bitcoin mining you need to consider the following in your bitcoin mining...
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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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My Honest Review of Onecoin from someone who invested in it.

Bitcoin revolutionized the way digital warriors and businesses conducted transactions in the cyber

world. Just several years after Bitcoin took the net world by storm, OneCoin promises yet another

solution to netizens hungry for economic opportunities. I invested $150 in Onecoin back in July of

2015 when the price was very low. Since then the price of Onecoin has increased exponentially so

I'm very happy with my decision. However, I still have some concerns about Onecoin, particularly if

the KFC regulations will be approved in USA or not. Onecoin is still in the process of validating

these regulations in USA. What is also concerning is the news reports and a series

of OneCoin review articles going against the company. Is the platform really a Bitcoin

alternative or simply a Ponzi scheme waiting to pounce on unsuspecting and gullible netizens?


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