Bitcoin Forum

4 weeks of cpu time running at max. and it DID make a difference!!!!
cpu was at 100% all the time!

nothing to show for it.
so,
have to say, goodbye to this.
:D

That's exactly what i'm afraid of.
Now that you can't generate a block per day anymore, there's no reason for new users to stay for long, cuz they all just after getting "free" coins.

What's your hash-count?

If you leave now, you'll be missing out on a great opportunity, which is not to spend electricity on bitcoins, but rather to receive payment from a community that is eager to spend money in exchange for your unique talent or skill set. Best of luck to ya!

I just want to say, I've been trying to conjure USD in my basement for years. It was hard work, it was time wasted.

I have generated no USD. So goodbye dollar  :)

Hello, BTC.


_{Money on Poker Stars available for bitcoins.}

i've been running about (average) 1300 for the last 3 weeks.

with enhancements. oli :)

i don't really mind, but my cpu usage is 100%, and it is affecting my electricity bill.
strangely lol :)

i don't want to leave.
but, i just can;t afford to wait forever in the hope something might happen. ie, generate a block?
no, 4 weeks worth, is not worth it :)

There's absolutely no point in generating bitcoins if you don't have anything to buy. Beside, it's a lot easier to get bitcoins if you do something that people might want to buy.

So stop generating! But don't stop using bitcoins just because you can't generate them, silly. Let's try to think of something that you offer in exchange for bitcoins. What are you good at? What are your interests and hobbies? If it's not too personal, what do you do for a living? I bet we can think of something that will bring in bitcoins much more quickly and easily than generating them.

Edit: I have a fairly fast computer, but I have stopped generating for the most part because that's not the point of bitcoin anymore. I leave one core running just to help the network, but it's more of a donation than an investment to generate bitcoins. In short, we're all basically in the same boat. It's next to impossible for us to generate bitcoins.

yes, after 4 weeks 100%cpu time, i hoped i'd have something?
that's 4 weeks electricy that i wouldn't have used (maybe) normally!
i don't mind that.
but something to show might be nice :)

yes.
but wasn't generating bitcoins!

wow!
good questions!



before i answer, i'll ask you, how many bitcoins do you have?
:)
then i'll answer nearly anything you like lol

i'm a detail fitter/hand adjuster for Bombardier/Shorts
that's what i do!!

I'm a very early adopter and the first financial promoter of bitcoin as far as I can tell. I had a whole lot of bitcoins, but I sold the majority of them before the Slashdot article and subsiquent rise in the price of bitcoins. :'( I still have a lot, but not so many that someone who has a job couldn't buy more than I have.

I'm not familiar with the specifics of your job, but I'm sure you could tailor ;) an offer targeted toward some demographic which would be interested in your services.

There is an even smaller chance of getting rich "generating" Bitcoins than there is of winning the lottery, which is pretty damn small. But I think this misses the point. Bitcoins can be a convenient, anonymous payment medium away from the evil clutches of the Federal Reserve and of *#@!! PayPal.

That's good enough for me!

To ask it another way -- if you *had* generated 50 BTC for your energy and efforts, what would you do with them?

The Bitcoin Market only trades in ฿100 increments, so he couldn't sell them there. :-\

Buy Silver! Get a lawful U.S. Dime, and have a few Bitcoins left over.

http://pz64g5mpskogeox7.onion/~silver/
https://tor-proxy.net/proxy/tor/browse.php?u=http%3A%2F%2Fpz64g5mpskogeox7.onion%2F~silver%2F

/horn-toot

arbitrage bitcoins on the exchange  :)

Well, there are other exchanges. He could have sold them at MtGox.com, for example.How can I see it? I spent quite a lot of CPU time too without success. What is probability of not generating any bitcoins after spending 3 weeks at 10000khashes/sec? Bitcoin calculator http://www.alloscomp.com/bitcoin/calculator.php says that it's much less than 5%. So something is definitely wrong either with bitcoind, khps meter in bitcoind or with calculations in bitcoin calculator.

I'm not trying to earn money with bitcoin, but it's important to monitor that all users are equal in generating bitcoins. Otherwise those users who sign most blocks can attack. Remember that purpose of generating blocks are not generating coins but signing the transactions log.

Is there any way to get total number of hashes I have calculated? So for example if bitcoin program gets less CPU because of other programs, I would still have a correct number of hashes count.

I'm also thinking about organizing a reference bitcoin probability meter. I'm thinking about an automated system of submitting stats, so users who are willing to help testing bitcoin would send their counters to a central server. In that way we will be able to ensure that generation goes as expected and/or find mistakes in our calculations and provide a better estimate for all users.

I also wonder, how many blocks per hour are SOLVED? This number should be a little bit higher than the number of blocks ACCEPTED by network because of collisions. While I saw some estimates about collision rate here, as far as I know we never tried to measure actual collision rate and compare it to our estimate.

The difficulty for generating new coins is adjusted to set up a situation where one new bitcoin (generated) block is created about every 10 minutes.... somewhere on the network.  That would average out to be about six per hour.

As far as the collision rate, I don't know what that number really is.  For me, I would rather see more coin blocks generated, but for fewer coins in each new coin block.  The question is in terms of how much "noise" this would create if there were new blocks generated every few seconds and how much network traffic would have to cope with this increased production of coin blocks.  In other words, if the difficulty were dropped to 10% of the current difficulty, but new blocks were only worth 5 BTC, it would still be roughly the same increase in new coins being generated but those coins would be distributed to more people.

The question is if this kind of change would adversely impact the network?

A side effect of having so many people on the network right now generating (and using) Bitcoins is that when you do "discover" a new coin block, the value of those BTC is higher.  This has been reflected in the various exchanges already.

BTW, I have yet to generate any bitcoins myself, and I've been using the software for close to a month.  Instead of worrying about how to "find" the bitcoins I'm trying to find ways to "earn" the coins instead.  Yes, I got a couple of ideas on that front too.

Keep in mind...  We are trying to create a new currency, not a personal money tree for everyone.

Are we creating a new currency or competing with PayPal and the like as a payment service?  The two are very, very different...and we're back here again...

Better payment service help grow acceptance of the bitcoin currency.

Depends if your generating blocks or not.
If you do, it's both,
if not, your "only" competing with PayPal and the like.  ;)

It would very negatively impact the network. The amount of bitcoins awarded is much more arbitrary than the amount of time to generate a block. As I understand it, Satoshi just picked what he thought was a good total amount of bitcoins and how long he wanted it to take to distribute them. But the ten minutes per block was to ensure a stable network as the network expands.

What is the algorithm for determining what hash values are tried?  I would hope there is some kind of random number generator in the mix so that different computers are not trying the "same hashes" all of the time.   What are the chances that someone gets stuck behind on the same random pseudo number sequence and thus could never generate a coin because someone else would always be ahead of them?

The merkle tree (containing the transactions, including the 50BTC) is hashed and included in the block. The hash will change (newer timestamps, and other stuff) so even two threads on the same host starting the the same time will work on a completely different block. There a blocks without a solution so sometimes a new block with a different merkle tree hash is tried. The latter is more common now at current difficulty.

Amazingly small.


There is also a 'nonce' - a number which is not important to the block, but acts as a "mixer"  which is incremented for each hash attempt.
So you're never trying to hash the same value twice.