Title: transaction validation Post by: Biodom on December 27, 2014, 05:58:03 PM With network at about 315 Ph right now and 80-100K transactions/day, if you are hashing at or above 4Th/s (two S4 or one SP30/SP31 or three SP20), then you are processing/validating at least one transaction/day on average, maybe a bit more.
Title: Re: transaction validation Post by: newIndia on December 27, 2014, 06:55:34 PM With network at about 315 Ph right now and 80-100K transactions/day, if you are hashing at or above 4Th/s (two S4 or one SP30/SP31 or three SP20), then you are processing/validating at least one transaction/day on average, maybe a bit more. Ya... but what's your point ? Title: Re: transaction validation Post by: Biodom on December 27, 2014, 08:56:03 PM With network at about 315 Ph right now and 80-100K transactions/day, if you are hashing at or above 4Th/s (two S4 or one SP30/SP31 or three SP20), then you are processing/validating at least one transaction/day on average, maybe a bit more. Ya... but what's your point ? Point is ...it is nice to contribute to the actual growth of the bitcoin economy. Since I have ~12 th, and, in effect, do transactions for four people a day (or rather four transactions a day)-that would be over 1000 transactions a year for maybe 1000 different people all over the world, including India, LOL. I think that it is a pleasant thought. Title: Re: transaction validation Post by: goozman96 on December 31, 2014, 02:57:04 AM That feels kind of low. 4TH/s to process just 1 transaction a day? Feels like a lot of wasted computing power.
Title: Re: transaction validation Post by: Window2Wall on December 31, 2014, 06:35:01 AM This is really not 100% accurate. You will only actually validate (confirm) a transaction if you actually 'find' a block at which point you will most likely (depending on your, or your pool's policy on transactions) confirm several hundred (if not thousand) transactions.
If you do not find any blocks then you will not validate/confirm any transactions. Title: Re: transaction validation Post by: Biodom on December 31, 2014, 03:42:33 PM This is really not 100% accurate. You will only actually validate (confirm) a transaction if you actually 'find' a block at which point you will most likely (depending on your, or your pool's policy on transactions) confirm several hundred (if not thousand) transactions. If you do not find any blocks then you will not validate/confirm any transactions. Your miners work for the pool, pool operator divided earned btc between pool participants=you did process transactions (as long as your pool got blocks). It is difficult to argue otherwise. Title: Re: transaction validation Post by: Biodom on December 31, 2014, 03:43:20 PM That feels kind of low. 4TH/s to process just 1 transaction a day? Feels like a lot of wasted computing power. A simple answer would be that there are not enough transactions yet. Title: Re: transaction validation Post by: Neotox on December 31, 2014, 07:40:46 PM That feels kind of low. 4TH/s to process just 1 transaction a day? Feels like a lot of wasted computing power. but they also getting block mining rewards for this, can you imagine the day all bitcoin have been mined already and miners mining for tx fees, what value of bitcoin we can expect bloc rewards go below 0.0001BTCTitle: Re: transaction validation Post by: Kluge on January 01, 2015, 01:45:18 AM This is really not 100% accurate. You will only actually validate (confirm) a transaction if you actually 'find' a block at which point you will most likely (depending on your, or your pool's policy on transactions) confirm several hundred (if not thousand) transactions. If you do not find any blocks then you will not validate/confirm any transactions. Your miners work for the pool, pool operator divided earned btc between pool participants=you did process transactions (as long as your pool got blocks). It is difficult to argue otherwise. Title: Re: transaction validation Post by: charlieSeen on January 01, 2015, 02:44:00 AM This is really not 100% accurate. You will only actually validate (confirm) a transaction if you actually 'find' a block at which point you will most likely (depending on your, or your pool's policy on transactions) confirm several hundred (if not thousand) transactions. If you do not find any blocks then you will not validate/confirm any transactions. Your miners work for the pool, pool operator divided earned btc between pool participants=you did process transactions (as long as your pool got blocks). It is difficult to argue otherwise. |