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Author Topic: Just now, I found an orphaned block, Block #288064!  (Read 1864 times)
bithernet
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February 27, 2014, 09:47:02 AM
 #1

 Huh

https://blockchain.info/block-index/471296
https://blockchain.info/block-index/471308

Does it happen oftenly?

I'm a little bit interested in this kind of the situation.

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Bitalo_Maciej
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February 27, 2014, 09:55:17 AM
 #2

It's does happen from time to time: https://blockchain.info/orphaned-blocks

Orphaned blocks happen because of how the Bitcoin network reaches consensus on the blockchain. Because there is no central storage for it, every Bitcoin client stores its own version. It can be the case that a majority of nodes have one version of blockchain, but then a smaller minority have another, with two more fresh blocks. After the majority notices that it no longer has the longest blockchain, it will switch to the other one. This can happen when two miners produce blocks at similar times.

Note that blocks only contain transaction IDs. No money is lost during this blockchain reorganization*, because the transactions that were in the orphaned block will be nevertheless included in subsequent blocks.

*actually, the 25 BTC reward from the orphaned block is lost, so the mining power of miners was wasted in that case.

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bithernet
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February 27, 2014, 09:57:11 AM
 #3

Thanks for your reply!

 Wink

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February 28, 2014, 02:49:25 PM
 #4

Huh

https://blockchain.info/block-index/471296
https://blockchain.info/block-index/471308

Does it happen oftenly?

I'm a little bit interested in this kind of the situation.


that is unlucky..
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March 01, 2014, 02:02:36 AM
 #5

It's does happen from time to time: https://blockchain.info/orphaned-blocks

Orphaned blocks happen because of how the Bitcoin network reaches consensus on the blockchain. Because there is no central storage for it, every Bitcoin client stores its own version. It can be the case that a majority of nodes have one version of blockchain, but then a smaller minority have another, with two more fresh blocks. After the majority notices that it no longer has the longest blockchain, it will switch to the other one. This can happen when two miners produce blocks at similar times.

Note that blocks only contain transaction IDs. No money is lost during this blockchain reorganization*, because the transactions that were in the orphaned block will be nevertheless included in subsequent blocks.

*actually, the 25 BTC reward from the orphaned block is lost, so the mining power of miners was wasted in that case.

Pleas explain to me what finding a block is. Does that mean you stumble upon 25BTC, or that a round has ended quickly. I'm NEW but learning!

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March 01, 2014, 05:14:34 AM
 #6

It's does happen from time to time: https://blockchain.info/orphaned-blocks

Orphaned blocks happen because of how the Bitcoin network reaches consensus on the blockchain. Because there is no central storage for it, every Bitcoin client stores its own version. It can be the case that a majority of nodes have one version of blockchain, but then a smaller minority have another, with two more fresh blocks. After the majority notices that it no longer has the longest blockchain, it will switch to the other one. This can happen when two miners produce blocks at similar times.

Note that blocks only contain transaction IDs. No money is lost during this blockchain reorganization*, because the transactions that were in the orphaned block will be nevertheless included in subsequent blocks.

*actually, the 25 BTC reward from the orphaned block is lost, so the mining power of miners was wasted in that case.

Pleas explain to me what finding a block is. Does that mean you stumble upon 25BTC, or that a round has ended quickly. I'm NEW but learning!



If you are solo mining it means you solved the block and won 25BTC plus transaction fees.  If you're mining in a pool it means you solved a block for the pool and the pool gets 25BTC and fees and distributes them to the pool base.














 

 

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Bitalo_Maciej
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March 01, 2014, 08:27:42 AM
 #7

These articles should help you understand how Bitcoin mining works:

http://codinginmysleep.com/bitcoin-mining-in-plain-english/
https://en.bitcoin.it/wiki/Mining

Web wallets get hacked all the time. Computer wallets get hacked all the time as well.
Solution? Hybrid P2SH wallets - safer than your online and offline wallets combined. Check it out, store and trade your Bitcoins with ease of mind!
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March 02, 2014, 02:48:49 AM
 #8

You must have really powerful hardware in order to solo mine these days!!!
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March 02, 2014, 02:54:57 AM
 #9



If you are solo mining it means you solved the block and won 25BTC plus transaction fees.  If you're mining in a pool it means you solved a block for the pool and the pool gets 25BTC and fees and distributes them to the pool base.

Always wondered about the details on that. Thank you.
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March 02, 2014, 02:58:36 AM
 #10

so.. orphan blocks to my under standing is you lost the race sorta. And someone else got awarded the 25 btc for being the first or awarded the 25 btc by the rest of the miners.. I really don't see how you can lose/waste mining power.

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inoob
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March 02, 2014, 03:14:16 AM
 #11

You must have really powerful hardware in order to solo mine these days!!!

what would be a sensible minimum in GH?

firejuan
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March 02, 2014, 08:17:54 AM
 #12

You can't think in terms of Gh/s for solo mining you have to be in the Th/s and almost into the Ph/s to get a reliable return.

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March 02, 2014, 09:16:46 AM
 #13

so.. orphan blocks to my under standing is you lost the race sorta. And someone else got awarded the 25 btc for being the first or awarded the 25 btc by the rest of the miners.. I really don't see how you can lose/waste mining power.

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It's like winning a race and not showing up for the medal ceremony and thereby losing your medal (the medal being the 25BTC).  If you went to the race and did all the work to win and get no reward, isn't it wasted work?














 

 

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