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Title: Few questions before getting started Post by: Drysprinkles291 on November 05, 2018, 01:46:09 AM I'm trying to understand how bitcoin mining works and some things don't make sense, as to my understanding of mining, a bunch of data is hashed and if the resulting hash has more leading zeros than the target difficulty value then you have a valid hash and your block is confirmed. If I only need to make around 2,147,483,647 hashes, then wouldn't a mining pool be able to guess an acceptable answer very quickly?
Title: Re: Few questions before getting started Post by: nakamura12 on November 06, 2018, 12:38:13 AM I answered your other post about bitcoin mining and I also provide a link where you can learn about bitcoin mining and softwares to use for mining. I don't understand all of it as I'm not on mining bitcoin for some reasons. You can also search in google about halving as this is also related to bitcoin mining.
Title: Re: Few questions before getting started Post by: Gembul0705 on November 06, 2018, 03:58:58 AM Maybe you can ask your question at here https://bitcointalk.org/index.php?board=14.0 this thread is about mining so maybe any member would help and teach you about this and because i don't understand too about mining
Title: Re: Few questions before getting started Post by: Hagmonar on November 06, 2018, 06:59:26 AM Try to check this link: https://www.bitcoinmining.com
Maybe the answer to your question can be found here. I also cannot understand your question since I am not into mining (very technical). Ask your question here (https://bitcointalk.org/index.php?board=14.0). Title: Re: Few questions before getting started Post by: odolvlobo on November 06, 2018, 08:56:29 AM I'm trying to understand how bitcoin mining works and some things don't make sense, as to my understanding of mining, a bunch of data is hashed and if the resulting hash has more leading zeros than the target difficulty value then you have a valid hash and your block is confirmed. If I only need to make around 2,147,483,647 hashes, then wouldn't a mining pool be able to guess an acceptable answer very quickly? First, while the original white paper talks about leading zeroes, it doesn't actually work that way. The actual test requires that the hash's value to be less than a "target" value. Second, I don't know why you would think that 231 hashes would be sufficient. Hashes have 256 bits. Currently, an average of approximately 3x1022 hashes are required to find a block |