The software can run on many variations of Operating Systems and CPUs out there. Come join the Telegram to see if the community has seen anything similar.

https://t.me/BitcoinPoWPoT

The dev team is mining about 10% of the blocks now. Everyday the community is increasing the hash power. Go to the Telegram chat and see for yourself, others are posting their mined blocks, others stay quiet about it.

Of course there is NO mining pool, did you read the tile of this thread? Mining pools cannot mine this coin, impossible. Only the user can sign a block to get the reward and only the user has the private keys to do so.

There are over 500 nodes running BitcoinPoW now. I'm hearing that users with 1000 servers are going to start turning on their machines to start mining. Keep in mind that you need both CPU/Transaction pairs to mine. You need to feed the CPU enough transactions so that it can do optimal PoW. Spinning up 1000 servers with low amount of transactions will not mine much.

The competition to get transactions is fierce and the mem pool is constantly flooded. This is by design. This creates a fair market where both users and miners compete to get access to the blockchain. If you really want to send coin or get txs to mine, you might have to bump of your fee to get priority.

There is a reason the block size only allows so many transactions at a time. It is part of the security model of Bitcoin. Keeping the size small allows regular people like us to run our nodes at home and take part in mining. Now that the blocks are filled up, we all need to start competing to be added to the chain. If your blocks are never getting confirmed, it is time to start paying more transaction fees to get higher priority. PoW is always a competition. If you want to mine more with more CPU power, you need to pay more to get more transactions. This is similar to how BTC works, if you want to mine more, you need to pay more to buy ASICs and solar panels/electricity.

Note: As the price of BTCW increases, the mem pool will eventually start to decline when market doesn't want to pay a certain price to send txs. The market determines when the mempool floods. Right now the devs are handing out free coin which makes it very easy to flood the mempool. Market dynamics will adjust the number of transactions in the mempool.

Come join the Telegram group to learn how to mine.

https://t.me/BitcoinPoWPoT

There are at least 400 wallets mining BTCW. Competition is growing. Each block has around 4000 transactions. Your 3000 is a small fraction against the community. Don't forget, it is NOT txs that make the hash rate, it are the CPUs iterating thru the txs that give the hash power. You can consider transactions to be 'FUEL' and the CPU needs 'FUEL' to do its PoW. The more CPUs running 'FUEL', the more hash power you have. Each CPU can only handle so much 'FUEL'. So at some point you need to use more CPUs. This is 99.9999% PoW coin with a small amount of PoS that makes this coin impossible to be centralized with a mining pool.


Come learn how to mine BTCW on Telegram:

https://t.me/BitcoinPoWPoT

There isn't a limit on the number transactions to enable mining. Mining is always on by default. It starts mining with 0 tx, but will never find a block, so transactions must be brought in. You can mine with 1 tx or 10k tx or 50k tx. Once you have established your transactions for mining, you have them for life. You don't need to do it again unless you want to get more tx hashes to feed more CPU to do more PoW to increase your hash power.

A wallet will mine when it has mature coins and at least 1 transaction and at least connected to 4 other nodes. However you want to get transactions into a wallet is up the user. There is a Python script in the white paper, the community has made a Nodejs version that sends txs, another dev is working on another approach. You can have many wallets with the GUI, but only one of them can be active at any given time. This means the miner will mine using the active selected wallet. Easiest approach is to use 2 GUI wallets. Send txs from one wallet to the receiving wallet.

There is much mining talk on Telegram, come join the chat and ask the community questions.

https://t.me/BitcoinPoWPoT

10k is not needed to mine. Mining starts with as little as 1 satoshi. The more txs you have, the more work the CPU can do.

Your math is off. Sending 0.00001 with a fee of 0.00001225 can get you almost 5000 transactions to mine. Once you get a block, you will have 50 BTCW to start mining. If you need another 0.1, ask for it on telegram.

Pools will not be able to mine this coin.

This algo is a combination of Proof of Work (PoW) and Proof of Transactions (PoT). A wallet generates many transactions. It is these user's transactions that are used for the PoW to solve the equation and mine a block. Once the miner finds one of the transaction hashes that solves the PoW equation:

hash(previous_stake_hash + others) < bnTarget

The winning transaction gets the block reward and it will be spendable in 3 blocks.

You need at least 1 satoshi to generate a transaction, then you can mine. In reality, you want to generate 10,000 transactions per wallet (or more) so the CPU has much more work to keep busy trying to solve the above simplified equation. This is why we are sending out 0.1 BTCW, it gives enough to start mining well.

If you did not get coin on Telegram, please ask again. Sorry, it has been very busy on the BTCW chat.

It is a new innovation algorithm that makes it useless to use a mining pool. The mining pool cannot sign the block after it has been found, the user that owns the transaction is the only one with the key. Plus, the only way to mine is to use user transactions. It is highly inefficient for users to send all their txs to a centralized pool and have the centralized pool send them out in batches.

The transactions are the potential hash power that the CPU can operate on. You want your CPU to be busy as possible doing PoW on the transactions to find a block. This is the key to the algorithm and prevents mining pools from operating with this coin.

Congrats on mining a block!

You need to enable the coin control features in the options menu under wallet tab. Then when you send you need to select coin control features and select the coins that you allow to be used in the tx when sending.

You should do this before sending coin from a mining wallet all the time or you risk throwing away your potential hash power (Transactions).

You said you figured it out, just wanted to give a little more detail to help others out.

Yes, it is a bit of work to setup mining. The community is growing and a developer is working on automating some of the steps to deploy a miner that is ready to mine using PoW/PoT. It will take some time.

Join us here:

https://t.me/BitcoinPoWPoT

The market would reach equilibrium. Fees would go up and discourage new miners. This wouldn't happen though until 10000 miners are already protecting the chain. At some point the entire Block space would always be filled up and some amount would be new miners and others would be regular transactions. You can create your transactions now while it is early and you can use them forever. They will never go away unless you spend them. Smart to take that real estate right now while it is easy.

BitcoinPoW is Bitcoin using proof of work(PoW) and proof of transactions(PoT) to verify blocks. This new mining technique naturally makes mining pools useless. This will form a highly mining decentralized Bitcoin.

Here is the White paper:

https://github.com/fluffyfunction/BitcoinPoW/blob/23.x/README.md


Come to Telegram to learn how to start mining:
https://t.me/BitcoinPoWPoT

Twitter:
https://twitter.com/bitcoin_pow

Website:
https://www.bitcoin-pow.org

Explorer:
https://explorer.bitcoin-pow.org