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Author Topic: The Super Profitable Mining Setup...?!?!  (Read 1125 times)
gigabytecoin
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May 08, 2011, 06:33:39 PM
 #1

I was just thinking of this the other night...

Perhaps the mining pools aren't everything they are cut out to be...

What is stopping me from:

1) Joining a mining pool.

2) Modifying a miner to only send the "shares" to the mining pool. (And get paid for each share, like everybody else).

3) Send only the "winning" hashes to the Bitcoin network myself. (And get paid for each block that I solve!).

I would therefore be contributing absolutely nothing (except difficulty 1 shares) to the mining pool, only "stealing" from it in a sense.

Slush and/or tycho... can you prove that this practice is impossible?
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xenon481
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May 08, 2011, 06:35:35 PM
 #2

I was just thinking of this the other night...

Perhaps the mining pools aren't everything they are cut out to be...

What is stopping me from:

1) Joining a mining pool.

2) Modifying a miner to only send the "shares" to the mining pool. (And get paid for each share, like everybody else).

3) Send only the "winning" hashes to the Bitcoin network myself. (And get paid for each block that I solve!).

I would therefore be contributing absolutely nothing (except difficulty 1 shares) to the mining pool, only "stealing" from it in a sense.

Slush and/or tycho... can you prove that this practice is impossible?

The block that you are working on from the pool includes the 50BTC payment (for generation) going to the Pool's address, not yours. If you change the address, the hash isn't valid anymore and won't be accepted by the network.

Tips Appreciated: 171TQ2wJg7bxj2q68VNibU75YZB22b7ZDr
gigabytecoin
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May 08, 2011, 06:43:16 PM
 #3

The block that you are working on from the pool includes the 50BTC payment (for generation) going to the Pool's address, not yours. If you change the address, the hash isn't valid anymore and won't be accepted by the network.

Really?

Where in this raw example block does it mention any bitcoin address?
xenon481
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May 08, 2011, 06:46:56 PM
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The block that you are working on from the pool includes the 50BTC payment (for generation) going to the Pool's address, not yours. If you change the address, the hash isn't valid anymore and won't be accepted by the network.

Really?

Where is this raw example block does it mention any bitcoin address?

That's what the following is in the 50BTC transaction:

"scriptPubKey":"0423c7c671e353169fa31244d8d8d513cf6c62bd016a09efb5316961b1b60512a7238a227e0ca6d f8905e69ae4e1c7d5ef50039f3c7fe2e0bdd6f135bdf3900605 OP_CHECKSIG"

Tips Appreciated: 171TQ2wJg7bxj2q68VNibU75YZB22b7ZDr
gigabytecoin
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May 08, 2011, 06:50:55 PM
 #5

The block that you are working on from the pool includes the 50BTC payment (for generation) going to the Pool's address, not yours. If you change the address, the hash isn't valid anymore and won't be accepted by the network.

Really?

Where is this raw example block does it mention any bitcoin address?

That's what the following is in the 50BTC transaction:

"scriptPubKey":"0423c7c671e353169fa31244d8d8d513cf6c62bd016a09efb5316961b1b60512a7238a227e0ca6d f8905e69ae4e1c7d5ef50039f3c7fe2e0bdd6f135bdf3900605 OP_CHECKSIG"

Ahhhh, so that is the pool's public key?

Makes sense! Thank you, xenon481
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