Bitcoin Mining Difficulty - What is it And How Does it ...
Bitcoin Mining Difficulty - What is it And How Does it ...
Bitcoin Mining Pool Bitcoin.com
Difficulty - Bitcoin Wiki
Bitcoin is now harder to mine than ever before - so is it ...
What is Share and the Share Difficulty When You Are Mining ...
wafflepool.com - An auto switching scrypt coin mining pool
WafflePool is a multi-coin (scrypt) mining pool. Point your miner to WafflePool with a Bitcoin address as your username, and we take care of automatically mining the most profitable coin at all times, converting the earnings from each coin into Bitcoins, and paying you out in bitcoins! Mining alt-coins and converting to bitcoin is very often orders of magnitude more valuable than mining Bitcoin directly! No registration, no hassles, just point and start getting paid!
[Bitcoin Unlimited Strategy] I believe it may be wisest for BU pools to mine the first block larger than 1MB (once we have 75% hashrate) *right after* a difficulty adjustment. This would provide the greatest resistance to a minority chain due to the longest time until the next difficulty adjustment
This would make the fork cleaner by presenting less chance for the minority chain to go anywhere.
Difficulty as a means of manipulating the mining pools & Bitcoin in the long term?
The difficulty has been rising consistently, meaning that each ~12 days, there is an increase of mining machines running, right? If it rises 10% per 12 days, that means that means that mining loses 10% of profitability every 12 days. This would push people paying for electricity more and more out of the mining game. Bringing bigger and bigger players in for the long term that can make significant investments that would be losing money in the short term. If those same large investors are pushing to grow a substantial share of bitcoin in the long-term, it would be sensible that they would both want to increasingly spend money on mining and drive the price downwards which would increasingly push small-time miners out as mining Bitcoin loses profitability. To monopolize the flow of new bitcoin before making mining profitable again. Short-term loss for long-term gain. Step 1 - Buy up a lot of available Bitcoin Step 2 - Increase cost of mining by driving down price of Bitcoin through manipulation all while increasing difficulty Step 3 - Control a substantial portion of the outflow of Bitcoin with a lot of the mining power Step 4 - Drive prices back up to profit I can't understand any other logic behind a 10% increase in mining difficulty every 12 days. With the money spent on mining rigs, shouldn't they just be buying Bitcoin straight up? Unless there's an ulterior motive... Thoughts?
Does anyone know what kinda pool reward this is? Thanks so much! (current block reward * no. of mined blocks+tx fees) * hashrate in GH/s * 10^9 / 2^32 * 86,400 / no. of mined blocks before difficulty change * previous difficulty + (no. of mined blocks after difficulty change * next d /r/Bitcoin
[Bitcoin Unlimited Strategy] I believe it may be wisest for BU pools to mine the first block larger than 1MB (once we have 75% hashrate) *right after* a difficulty adjustment. This would provide the greatest resistance to a minority chain due to the longest time until the next difficulty adju /r/btc
I now understand that Bitcoin is the revolution. It's the resistance! I just bought another 0.25 BTC and it felt so good and empowering it's incredible.
I've been lurking here for a while and I've never actually posted but one thing I've noticed is that there are people who just straight up bash bitcoin saying this and that and that their other coin is better and blablabla. These people don't understand (yet, but they will) that it's not important which coin is better at this stage. It's a fucking revolution against the corrupt banking system that's been going on for centuries, concentrating humanity's wealth within a couple hundred families. Now isn't the time to be divided in the crypto space, it's time to be UNITED. We are going to be legends in 50 years. The pioneers of a new financial era. I don't know if bitcoin will always be king but one thing I do know is that decentralized money will take over the fiat system. I've been into stocks for as long as I can remember and I'm now convinced, crypto is the way! Brothers and sisters, we are all early adopters so let's support one another. Be kind with each other and let's surf this huge wave of positivity and change together. Stay stong and HODL through the storm.
Hypothetical question: in the event of a large world disrupting event (war)...
Hypothetically, in the event of a large war, the undersea cables that connect the world with internet could be severed. Satellite internet could be disabled through further wartime acts. We could end up with several discreet, independant internets that are not only separated by great firewalls, but also physically separated from each other. It's my understanding that the block chain would essentially continue in each internet pocket unhindered, but not synchronized. So what happened if after a prolonged period of isolation, let's say 5 years, the networks become reconnected. Would the two block chains "merge" If they merge, how would potentially conflicting transactions be handled? Double spending? Would one block chain fully overwrite the other? Effectively nullifying 5 years worth of transactions? Or would the possible overwrite only affect specific conflicting transactions? Or would they stay as separate discreet chains at that point? Would that mean someone who has keys today would then have keys for multiple sets of bitcoins on multiple block chains with the same keys? (so if I had 1btc today, after the "war" would I then have 1btc [Americas] 1btc [Asia] and 1btc [Europe])
Hi guys. I've made a post on here asking about mining and how to get into it but I've received no replies yet and I'm not sure if I'm being too late or if I'm even allowed to post on this sub. I know there are many different mining pools but I just want to know how to get into mining? I don't want to use a pool just to get into mining. What can I do, especially when I know that most mining pools are based on scrypt? Any help is appreciated.
https://github.com/gridcoin-community/Gridcoin-Research/releases/tag/22.214.171.124 Finally! After over ten months of development and testing, "Fern" has arrived! This is a whopper. 240 pull requests merged. Essentially a complete rewrite that was started with the scraper (the "neural net" rewrite) in "Denise" has now been completed. Practically the ENTIRE Gridcoin specific codebase resting on top of the vanilla Bitcoin/Peercoin/Blackcoin vanilla PoS code has been rewritten. This removes the team requirement at last (see below), although there are many other important improvements besides that. Fern was a monumental undertaking. We had to encode all of the old rules active for the v10 block protocol in new code and ensure that the new code was 100% compatible. This had to be done in such a way as to clear out all of the old spaghetti and ring-fence it with tightly controlled class implementations. We then wrote an entirely new, simplified ruleset for research rewards and reengineered contracts (which includes beacon management, polls, and voting) using properly classed code. The fundamentals of Gridcoin with this release are now on a very sound and maintainable footing, and the developers believe the codebase as updated here will serve as the fundamental basis for Gridcoin's future roadmap. We have been testing this for MONTHS on testnet in various stages. The v10 (legacy) compatibility code has been running on testnet continuously as it was developed to ensure compatibility with existing nodes. During the last few months, we have done two private testnet forks and then the full public testnet testing for v11 code (the new protocol which is what Fern implements). The developers have also been running non-staking "sentinel" nodes on mainnet with this code to verify that the consensus rules are problem-free for the legacy compatibility code on the broader mainnet. We believe this amount of testing is going to result in a smooth rollout. Given the amount of changes in Fern, I am presenting TWO changelogs below. One is high level, which summarizes the most significant changes in the protocol. The second changelog is the detailed one in the usual format, and gives you an inkling of the size of this release.
Note that the protocol changes will not become active until we cross the hard-fork transition height to v11, which has been set at 2053000. Given current average block spacing, this should happen around October 4, about one month from now. Note that to get all of the beacons in the network on the new protocol, we are requiring ALL beacons to be validated. A two week (14 day) grace period is provided by the code, starting at the time of the transition height, for people currently holding a beacon to validate the beacon and prevent it from expiring. That means that EVERY CRUNCHER must advertise and validate their beacon AFTER the v11 transition (around Oct 4th) and BEFORE October 18th (or more precisely, 14 days from the actual date of the v11 transition). If you do not advertise and validate your beacon by this time, your beacon will expire and you will stop earning research rewards until you advertise and validate a new beacon. This process has been made much easier by a brand new beacon "wizard" that helps manage beacon advertisements and renewals. Once a beacon has been validated and is a v11 protocol beacon, the normal 180 day expiration rules apply. Note, however, that the 180 day expiration on research rewards has been removed with the Fern update. This means that while your beacon might expire after 180 days, your earned research rewards will be retained and can be claimed by advertising a beacon with the same CPID and going through the validation process again. In other words, you do not lose any earned research rewards if you do not stake a block within 180 days and keep your beacon up-to-date. The transition height is also when the team requirement will be relaxed for the network.
Besides the beacon wizard, there are a number of improvements to the GUI, including new UI transaction types (and icons) for staking the superblock, sidestake sends, beacon advertisement, voting, poll creation, and transactions with a message. The main screen has been revamped with a better summary section, and better status icons. Several changes under the hood have improved GUI performance. And finally, the diagnostics have been revamped.
The wallet sync speed has been DRASTICALLY improved. A decent machine with a good network connection should be able to sync the entire mainnet blockchain in less than 4 hours. A fast machine with a really fast network connection and a good SSD can do it in about 2.5 hours. One of our goals was to reduce or eliminate the reliance on snapshots for mainnet, and I think we have accomplished that goal with the new sync speed. We have also streamlined the in-memory structures for the blockchain which shaves some memory use. There are so many goodies here it is hard to summarize them all. I would like to thank all of the contributors to this release, but especially thank @cyrossignol, whose incredible contributions formed the backbone of this release. I would also like to pay special thanks to @barton2526, @caraka, and @Quezacoatl1, who tirelessly helped during the testing and polishing phase on testnet with testing and repeated builds for all architectures. The developers are proud to present this release to the community and we believe this represents the starting point for a true renaissance for Gridcoin!
Most significantly, nodes calculate research rewards directly from the magnitudes in EACH superblock between stakes instead of using a two- or three- point average based on a CPID's current magnitude and the magnitude for the CPID when it last staked. For those long-timers in the community, this has been referred to as "Superblock Windows," and was first done in proof-of-concept form by @denravonska.
Network magnitude unit pinned to a static value of 0.25
Max research reward allowed per block raised to 16384 GRC (from 12750 GRC)
New CPIDs begin accruing research rewards from the first superblock that contains the CPID instead of from the time of the beacon advertisement
500 GRC research reward limit for a CPID's first stake
6-month expiration for unclaimed rewards
10-block spacing requirement between research reward claims
Rolling 5-day payment-per-day limit
Legacy tolerances for floating-point error and time drift
The need to include a valid copy of a CPID's magnitude in a claim
10-block emission adjustment interval for the magnitude unit
One-time beacon activation requires that participants temporarily change their usernames to a verification code at one whitelisted BOINC project
Verification codes of pending beacons expire after 3 days
Self-service beacon removal
Burn fee for beacon advertisement increased from 0.00001 GRC to 0.5 GRC
Rain addresses derived from beacon keys instead of a default wallet address
Beacon expiration determined as of the current block instead of the previous block
The ability for developers to remove beacons
The ability to sign research reward claims with non-current but unexpired beacons
As a reminder:
Beacons expire after 6 months pass (180 days)
Beacons can be renewed after 5 months pass (150 days)
Renewed beacons must be signed with the same key as the original beacon
Magnitudes less than 1 include two fractional places
Magnitudes greater than or equal to 1 but less than 10 include one fractional place
A valid superblock must match a scraper convergence
Superblock popularity election mechanics
Yes/no/abstain and single-choice response types (no user-facing support yet)
To create a poll, a maximum of 250 UTXOs for a single address must add up to 100000 GRC. These are selected from the largest downwards.
Burn fee for creating polls scaled by the number of UTXOs claimed
50 GRC for a poll contract
0.001 GRC per claimed UTXO
Burn fee for casting votes scaled by the number of UTXOs claimed
0.01 GRC for a vote contract
0.01 GRC to claim magnitude
0.01 GRC per claimed address
0.001 GRC per claimed UTXO
Maximum length of a poll title: 80 characters
Maximum length of a poll question: 100 characters
Maximum length of a poll discussion website URL: 100 characters
Maximum number of poll choices: 20
Maximum length of a poll choice label: 100 characters
Magnitude, CPID count, and participant count poll weight types
The ability for developers to remove polls and votes
[126.96.36.199] 2020-09-03, mandatory, "Fern"
Backport newer uint256 types from Bitcoin #1570 (@cyrossignol)
Implement project level rain for rainbymagnitude #1580 (@jamescowens)
Upgrade utilities (Update checker and snapshot downloadeapplication) #1576 (@iFoggz)
Provide fees collected in the block by the miner #1601 (@iFoggz)
Add support for generating legacy superblocks from scraper stats #1603 (@cyrossignol)
Port of the Bitcoin Logger to Gridcoin #1600 (@jamescowens)
Implement zapwallettxes #1605 (@jamescowens)
Implements a global event filter to suppress help question mark #1609 (@jamescowens)
Add next target difficulty to RPC output #1615 (@cyrossignol)
Add caching for block hashes to CBlock #1624 (@cyrossignol)
Make toolbars and tray icon red for testnet #1637 (@jamescowens)
Add an rpc call convergencereport #1643 (@jamescowens)
Implement newline filter on config file read in #1645 (@jamescowens)
Implement beacon status icon/button #1646 (@jamescowens)
Add gridcointestnet.png #1649 (@caraka)
Add precision to support magnitudes less than 1 #1651 (@cyrossignol)
Replace research accrual calculations with superblock snapshots #1657 (@cyrossignol)
Publish example gridcoinresearch.conf as a md document to the doc directory #1662 (@jamescowens)
Add options checkbox to disable transaction notifications #1666 (@jamescowens)
Add support for self-service beacon deletion #1695 (@cyrossignol)
Add support for type-specific contract fee amounts #1698 (@cyrossignol)
Add verifiedbeaconreport and pendingbeaconreport #1696 (@jamescowens)
Add preliminary testing option for block v11 height on testnet #1706 (@cyrossignol)
Add verified beacons manifest part to superblock validator #1711 (@cyrossignol)
Implement beacon, vote, and superblock display categories/icons in UI transaction model #1717 (@jamescowens)
@SatoshiLite: 1/ I think a better way to fund development is mining pools voluntarily donate a portion of the block reward. How about Litecoin pools donate 1% (0.125 LTC) of block rewards to the @LTCFoundation ? If every miner/pool does this, it amounts to about $1.5MM donation per year!
The Bitcoin difficulty chart provides the current Bitcoin difficulty (BTC diff) target as well as a historical data graph visualizing Bitcoin mining difficulty chart values with BTC difficulty adjustments (both increases and decreases) defaulted to today with timeline options of 1 day, 1 week, 1 month, 3 months, 6 months, 1 year, 3 years, and all time Mining pools may contain hundreds or thousands of miners using specialized protocols. In all these schemes B stands for a block reward minus pool fee and p is a probability of finding a block in a share attempt (p = 1/D, where D is current block difficulty). A pool can support "variable share difficulty" feature, which means that a miner can select the share target (the lower bound of share ... 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 ... The Bitcoin Network Difficulty Metric. The Bitcoin network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. The Bitcoin.com mining pool has the lowest share reject rate (0.15%) we've ever seen. Other pools have over 0.30% rejected shares. Furthermore, the Bitcoin.com pool has a super responsive and reliable support team.
Bitcoin & Cryptocurrency Mining Pools Explained Best ...
Vosk explains how the difficulty for mining a block reward is adjusted when mining Bitcoin on sha-256 or ZenCash/Zcash on Equihash. It is important to understand mining difficulty to ensure you ... Watch in 360 the inside of a nuclear reactor from the size of an atom with virtual reality - Duration: 3:42. EDF in the UK Recommended for you. 360° Well, I always heard the naysayers and bitcoin mining haters saying that Bitcoin mining (and other cryptocurrencies) is not worth it anymore… that you must be careful about the increasing ... Bitcoin mining difficulty, which is the measure of how hard it is to compete for mining rewards, just jumped by 9.89%, climbing above 17 T for the first time and reaching 17.35 T. Mining Pool Shares, Difficulty and Luck Explained Son of a Tech. ... Noob's Guide To Bitcoin Mining ... 1:00:11. What is Crypto Mining Difficulty and How it Impacts YOUR Profits ...