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Title: What Bitcoin.exe really does? Post by: kakadas on July 05, 2011, 04:56:36 PM Hello all bitcoin forum members.
Just recently I have "met" bitcoin and I haven't found all the answers yet so I am hoping that You will help me. 1. Why does bitcoin.exe load some kind of blocks? Do I get bitcoins for generating them? 2. Let's say I'm mining in a pool and some lucky miner "strucks gold". Would I get some bitcoins? If so how would reach my wallet in bitcoin.exe? I'm aware that these questions might be annoying to some members, but I'm new here so I hope that some nice guy will answer them.... Regards, kakadas Title: Re: What Bitcoin.exe really does? Post by: Stephen Gornick on July 05, 2011, 07:07:34 PM 1. Why does bitcoin.exe load some kind of blocks? Every one of the thousands of nodes on the Bitcoin network, including yours, needs to have a database of all transactions occurring since the beginning (2009). Transactions are stored in blocks. The collection of blocks is called the blockchain because each block requires the previous block for this blockchain database method to work. The number of blocks currently is: - http://blockexplorer.com/q/getblockcount A little more detail is here: - http://en.bitcoin.it/wiki/Getting_started Do I get bitcoins for generating them? For generating, yes. But the term generating refers to generating new blocks -- which is the result of mining but does not refer to what you were describing (which was to be simply downloading the blockchain). 2. Let's say I'm mining in a pool and some lucky miner "strucks gold". Would I get some bitcoins? The whole concept of pools is to bring resources together for mining and the incentive offered to obtain participation is to reward those who are contributing resources. There are a number of different approached at compensation. See: - https://en.bitcoin.it/wiki/Comparison_of_mining_pools |