Bitcoin Forum
December 03, 2016, 02:43:43 AM *
News: To be able to use the next phase of the beta forum software, please ensure that your email address is correct/functional.
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: How does one get six generations in one day?  (Read 1150 times)
mgiuca
Newbie
*
Offline Offline

Activity: 25


View Profile
February 16, 2011, 05:36:38 AM
 #1

I'm new to Bitcoin and I've read as much as I can about how it works, so I get how generating works and so on. I was browsing the Bitcoin Explorer (tracing back a bitcoin purchase I made) and I found this transaction, which sent 300 bc to an account which appears to belong to the vendor I ultimately bought bitcoins from (my money came out of this pool of 300).

What I don't get is the sources for this transaction. It takes 50 bc out of 6 separate addresses (for a total of 300). Each of the six addresses received the 50 bc from a "Generation" (meaning they happened to compute a valid nonce for a block). All six of them were generated on February 13, at the following times (sorted): 07:02:16, 14:52:27, 14:54:55, 17:13:18, 17:55:01, 20:42:08, 23:25:31.

I assume it's most likely that the same person generated all of these, and then combined them into a single account with this transaction. What I don't get is how this person generated all six of them in one day, in one case 2.5 minutes apart. Is this likely to be someone running a major server? Given what I've read about the difficulty recently, it seems unlikely that anyone could have enough CPU power to find six in one day (given that there are 144 blocks per day, you would need to control 4% of the CPU power in the entire network).

Is there something wrong with my logic, or does someone actually have that much power?
1480733023
Hero Member
*
Offline Offline

Posts: 1480733023

View Profile Personal Message (Offline)

Ignore
1480733023
Reply with quote  #2

1480733023
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1480733023
Hero Member
*
Offline Offline

Posts: 1480733023

View Profile Personal Message (Offline)

Ignore
1480733023
Reply with quote  #2

1480733023
Report to moderator
Binford 6100
Hero Member
*****
Offline Offline

Activity: 504


PGP OTC WOT: EB7FCE3D


View Profile
February 16, 2011, 07:47:41 AM
 #2

Is there something wrong with my logic, or does someone actually have that much power?

pooled mining is used to concentrate computing power to single mining "coordination servants"
such service operator would claim the mined block under his account and this is what you probably found.
the most successful mining pool does around 30+ blocks per day
but you've probably found out about mining pools anyway Smiley

You can't build a reputation on what you are going to do.
ribuck
Donator
Legendary
*
Offline Offline

Activity: 826


View Profile
February 16, 2011, 10:46:57 AM
 #3

Six generations in one day represents the generating capacity of around twenty 5970 cards, so it's possible for a determined and wealthy individual to put together this much computing power.

As others have said though, it's likely to be from pooled mining.
mgiuca
Newbie
*
Offline Offline

Activity: 25


View Profile
February 17, 2011, 01:00:54 AM
 #4

pooled mining is used to concentrate computing power to single mining "coordination servants"
such service operator would claim the mined block under his account and this is what you probably found.
the most successful mining pool does around 30+ blocks per day
Oh OK. So he would claim all 300 for himself, but then distribute the funds to his pool buddies (possibly from other accounts under his control)? That makes sense then.
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!