Donkeycongo
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Activity: 84
Merit: 10
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July 09, 2014, 02:34:30 AM |
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Damn Invalid block
22399 2014-07-08 10:27:21 ......... 309756 25.11009617 invalid
4hrs we wont ever get back
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sonubatthis101
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Activity: 32
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July 09, 2014, 07:04:03 PM |
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Why are rewards so low last night and today?
I usually get 40,000+, but I've been at 30, and as low as the mid-20s...
how mch hash are you mining? |
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Darthswan
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July 09, 2014, 10:10:22 PM |
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Damn Invalid block
22399 2014-07-08 10:27:21 ......... 309756 25.11009617 invalid
4hrs we wont ever get back
What happens to invalid blocks? Just curious |
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Donkeycongo
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July 10, 2014, 01:29:34 AM |
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Info below answers question and is not a chart Invalid Blocks. The block chain that represents the entire history of all transactions in the Bitcoin network is linear; there can be no [permanent] branches. If two miners solve a block at about the same time, a branch occurs, and miners may begin building on either of the two. Whichever block chain grows faster becomes the “valid” block chain for the network, and the blocks in the “losing” chain become invalid. This is why there’s a 100-block maturation time before block rewards and transaction fees may be spent; it’s insurance against those BTC becoming invalid in the meantime. Source: http://www.spreadbitcoins.com/bitcoin-terms-definitions/ |
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andyjjones
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July 10, 2014, 09:20:15 AM |
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Hey guys, a quick (general) question about mining... I was reading a tutorial about mining and it said this: A Bitcoin node is basically an electronic bookkeeper, and anybody in the world can set up and run one. Each node has a complete copy of the public ledger – that’s a record of every Bitcoin transaction that ever happened, in history, all the way back to the very beginning of Bitcoin. As of today, the public ledger contains more than 30 million transactions and requires 13 GB of disk space. A 'node' is each one of us, right? I don't ever remember downloading a 13GB ledger in order to do mining. |
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Donkeycongo
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July 10, 2014, 11:50:04 AM |
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Hey guys, a quick (general) question about mining... I was reading a tutorial about mining and it said this: A Bitcoin node is basically an electronic bookkeeper, and anybody in the world can set up and run one. Each node has a complete copy of the public ledger – that’s a record of every Bitcoin transaction that ever happened, in history, all the way back to the very beginning of Bitcoin. As of today, the public ledger contains more than 30 million transactions and requires 13 GB of disk space. A 'node' is each one of us, right? I don't ever remember downloading a 13GB ledger in order to do mining. Its the bitcoin core wallet, takes ages to sync , most people use web/lite wallets where supplier has a core wallet that the app syncs with,, faster than core wallet. Its also part of bitcoin being non centralised. As long as there are 2 nodes bitcoin keeps running. |
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dbbrummel
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July 10, 2014, 02:46:38 PM |
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Mining software does not require you being a node. You do that by downloading https://bitcoin.org/en/downloadFor me, it took about 3 days and numerous reboots for it to initialize. It is kind of cool, especially if you want a local wallet, but it does occasionally use a ton of network bandwidth. I don't run it full time anymore, but maybe an hour a day to catch up with the network. |
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andyjjones
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July 10, 2014, 04:15:45 PM |
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i) What are the advantages of being a node? Is there any reward? Or just a feeling that you've contributed to the community?
ii) Why is it necessary for nodes to have the entire transaction history? What use do the earliest transactions still serve?
I would have thought you'd only need the latest ones.
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spazzdla
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July 10, 2014, 04:28:21 PM |
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i) What are the advantages of being a node? Is there any reward? Or just a feeling that you've contributed to the community?
ii) Why is it necessary for nodes to have the entire transaction history? What use do the earliest transactions still serve?
I would have thought you'd only need the latest ones.
Hum.... you need the entire transaction history so people know what has happend...... I think it's time you do some youtubing for yourself.. a good 100 hours of it.. starting at what is money. |
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andyjjones
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July 10, 2014, 04:49:25 PM |
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Hum.... you need the entire transaction history so people know what has happend...... I think it's time you do some youtubing for yourself.. a good 100 hours of it.. starting at what is money.
Why won't just the latest blocks do? If nothing has gone wrong, can't very old blocks just expire? If I use internet banking, my bank won't let me dig up transactions that are more than a couple of years old. |
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spazzdla
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July 10, 2014, 05:10:27 PM |
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Hum.... you need the entire transaction history so people know what has happend...... I think it's time you do some youtubing for yourself.. a good 100 hours of it.. starting at what is money.
Why won't just the latest blocks do? If nothing has gone wrong, can't very old blocks just expire? If I use internet banking, my bank won't let me dig up transactions that are more than a couple of years old. Your bank is a criminal organization, all are. It is very useful to know where everything has come from and went to.. It is needed to ensure the blockchain is correct. If I sent you 1 btc 3 years ago, you never sent it anywhere and it wiped out the blockchain after a year how could anyone prove you have any BTC? It would be gone. |
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KNK
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July 10, 2014, 05:46:52 PM |
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i) What are the advantages of being a node? Is there any reward? Or just a feeling that you've contributed to the community?
ii) Why is it necessary for nodes to have the entire transaction history? What use do the earliest transactions still serve?
I would have thought you'd only need the latest ones.
i. If you want to solo-mine - you need[1] to be a node in order to be able to verify the transactions you include in the block you want to solve. When in a pool it does that for you. ii. I will skip block 0, as it is special, but the reward for block 1 is also still 'unspent', so: It is very useful to know where everything has come from and went to.. It is needed to ensure the blockchain is correct. If I sent you 1 btc 3 years ago, you never sent it anywhere and it wiped out the blockchain after a year how could anyone prove you have any BTC? It would be gone.
To be able to spend (or to confirm it wasn't spent yet) the reward from block 1 - you need to have the entire history back to that block[2] ----------------------------------------------------- [1] it might be possible to solo-mine by using a network of 'full nodes' as a backend, but that's more of exception from the rule. [2] at some point in time it might be necessary to 'shrink' the database and a list of 'unspent outputs only' may be used as a seed for the future transactions, but this is not yet the case. |
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andyjjones
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July 10, 2014, 05:53:11 PM |
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Thanks for the answers : ).
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gof
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July 10, 2014, 08:45:39 PM |
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Hello, today I didn't receive the payment. Is there anyone that happened it to? Maybe are any problems in the pool?
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zamot
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July 10, 2014, 09:32:13 PM |
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dbbrummel
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July 10, 2014, 09:53:52 PM |
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Same with me gof, but don't sweat it they always show up.
Things don't always happen as fast as one would like in the
BTC world, best to get used to it. Recently, for example, it
seems like every time I send someone a payment that should
be usable in 30 minutes, we get 3 45 minute blocks on Blockchain
and it is not available for 3 hours or more. Sometimes luck is
good, sometimes bad.
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gof
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July 10, 2014, 10:06:19 PM |
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Understood, thank you for the answers
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dbbrummel
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July 10, 2014, 10:13:12 PM |
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Bitmaintech.com almost cancelled my S3 orders, because they require payment in one hour.
Normally that is not a problem, as a block is found every 10 minutes +/-. Except when I
place an order for new miners, then it seems to take the next 3 blocks an hour each.
They have been around the block and get it, so it worked out. Personally, I try to keep
stats at a weekly level now, not a daily, and for sure not an hourly level.
Sometimes it is just one of those days, and there is nothing that you can do about it.
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dbbrummel
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July 11, 2014, 02:12:50 AM |
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Okay, so now I am starting to worry. No payments for 12 hours? Is something wrong at HQ?
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