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Author Topic: what are the bitcoin miners really solving?  (Read 402 times)
mithali
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November 10, 2017, 09:19:36 AM
 #1

As with mining, what are the bitcoin miners really solving? I read they are solving hashes, but what does that really mean. Can we see what they are solving? Can someone give an example of what a bitcoin mining machine sees to solve?
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Transactions must be included in a block to be properly completed. When you send a transaction, it is broadcast to miners. Miners can then optionally include it in their next blocks. Miners will be more inclined to include your transaction if it has a transaction fee.
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November 10, 2017, 10:16:17 AM
 #2

As with mining, what are the bitcoin miners really solving? I read they are solving hashes, but what does that really mean. Can we see what they are solving? Can someone give an example of what a bitcoin mining machine sees to solve?

They solve the network blocks with the fees per per byte. It cost some satoshis moves in the block. This is the real work done by the bitcoin and altcoin miners. To help this work miners will get the reward that is the transaction fees. If there is network pool delay that time bitcoin transaction will be delayed. Don't reduce the fees which is by default in the wallet that will reduce the transaction speed.

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staradvincula
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November 10, 2017, 10:10:56 PM
 #3

As with mining, what are the bitcoin miners really solving? I read they are solving hashes, but what does that really mean. Can we see what they are solving? Can someone give an example of what a bitcoin mining machine sees to solve?

They solve the network blocks with the fees per per byte. It cost some satoshis moves in the block. This is the real work done by the bitcoin and altcoin miners. To help this work miners will get the reward that is the transaction fees. If there is network pool delay that time bitcoin transaction will be delayed. Don't reduce the fees which is by default in the wallet that will reduce the transaction speed.

So the caused of delay of fees is due to the delayed of transaction and network. Am I right or wrong?
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November 12, 2017, 05:34:07 AM
 #4

As with mining, what are the bitcoin miners really solving? I read they are solving hashes, but what does that really mean. Can we see what they are solving? Can someone give an example of what a bitcoin mining machine sees to solve?

They solve the network blocks with the fees per per byte. It cost some satoshis moves in the block. This is the real work done by the bitcoin and altcoin miners. To help this work miners will get the reward that is the transaction fees. If there is network pool delay that time bitcoin transaction will be delayed. Don't reduce the fees which is by default in the wallet that will reduce the transaction speed.

So the caused of delay of fees is due to the delayed of transaction and network. Am I right or wrong?

One of the reasons maybe is that some miners turned to mining bitcoin cash instead because of the higher price so less miners for bitcoin means more delayed transactions
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November 12, 2017, 08:42:38 AM
 #5

As with mining, what are the bitcoin miners really solving? I read they are solving hashes, but what does that really mean. Can we see what they are solving? Can someone give an example of what a bitcoin mining machine sees to solve?

They solve the network blocks with the fees per per byte. It cost some satoshis moves in the block. This is the real work done by the bitcoin and altcoin miners. To help this work miners will get the reward that is the transaction fees. If there is network pool delay that time bitcoin transaction will be delayed. Don't reduce the fees which is by default in the wallet that will reduce the transaction speed.
because when the transaction costs are reduced, this will disrupt the network and affect the speed of the transaction, even more than 2x24hour for 1 confirmation,,this will be bad for us who want to do transaction instantly, because to get 1 confirmation we have to wait a long time .. because even though the large transaction fee is in line with the higher bitcoin prices

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liuqi
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November 12, 2017, 09:24:50 AM
 #6

As with mining, what are the bitcoin miners really solving? I read they are solving hashes, but what does that really mean. Can we see what they are solving? Can someone give an example of what a bitcoin mining machine sees to solve?

They solve the network blocks with the fees per per byte. It cost some satoshis moves in the block. This is the real work done by the bitcoin and altcoin miners. To help this work miners will get the reward that is the transaction fees. If there is network pool delay that time bitcoin transaction will be delayed. Don't reduce the fees which is by default in the wallet that will reduce the transaction speed.

So the caused of delay of fees is due to the delayed of transaction and network. Am I right or wrong?

Yes you are right! if there is default fees in the transaction you cannot find the transaction blocked at all. Some time it delay because huge of number of pending transaction in your wallet provider site. Moreover from the past three weeks bitcoin transaction fees has been increased but can be modified it if you are desktop wallet user.

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QuiteLoud
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November 12, 2017, 06:28:39 PM
 #7

Am I getting it right, that in PoW the difficulty is getting stronger artificially, so basically all this electricity is burning for nothing just to make the distribution of the coin equitable?
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