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Title: Detail of Mining Genesis Block Post by: porous on February 10, 2014, 11:11:33 PM I'm having trouble tracking down an answer to the following question. At some point in time when Bitcoin was just created the genesis block existed and there were no other transactions (or very few). How exactly does mining occur when there are no new transactions? Are blocks constantly being created whether or not there are actually new transactions?
And just to be clear, I'm not asking anyone to describe how mining works at a beginner level, I'm looking for a more detailed response specifically about the earliest point in time that someone could mine Bitcoin and what exactly took place at that time... /very curious Title: Re: Detail of Mining Genesis Block Post by: Foxpup on February 10, 2014, 11:19:56 PM There is always at least one new transaction: the transaction that credits the newly mined coins to the miner! It is perfectly valid for a block to contain only that transaction and no others.
Title: Re: Detail of Mining Genesis Block Post by: porous on February 10, 2014, 11:52:26 PM Alright, that makes sense, one bit less confused, lots more to take on. :D |