rcaruso90 (OP)
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Activity: 6
Merit: 0
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May 22, 2011, 12:49:57 AM |
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I want to get into mining more (build a rig and such) but a friend of mine is worried that this is all just a big distributed brute force hacking system..... I trust that it's not, but i would still lie more info. can i get some info on what my computer is doing when it mines??
Thanks.
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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 higher transaction fee.
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MoonShadow
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Activity: 1708
Merit: 1007
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May 22, 2011, 01:00:36 AM |
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It's repeatedly hashing a collection of the transactions that have occured since the last published block, a header and a nonce. It's looking for a hash lower than a target number that is adjusted to make the hashing intentionally difficult. If it finds a hash that is under the target numer, your computer gets to add a special transaction to the block that it just created giving you a 50 BTC reward, and then it publishes the block that it has created to the p2p network so that other nodes can verify your success.
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"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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MysteryMiner
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Activity: 1470
Merit: 1029
Show middle finger to system and then destroy it!
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May 22, 2011, 01:01:08 AM |
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You are processing previous transactions and proofing them against attackers. Read the Wiki and or FAQ https://en.bitcoin.it/wiki/FAQ#MiningEdit: To the peiece of your mind - Bitcoin is open source software, so are the GPU miner software. You can examine the source code and compile it for yourself. No bruting or botneting. The difficulty is high and getting even higher. I'm not sure the dedicated rig will pay itself of, unless you are intending to use it as 4way crossfire gaming computer after it became unprofitable. |
bc1q59y5jp2rrwgxuekc8kjk6s8k2es73uawprre4j
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rcaruso90 (OP)
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Activity: 6
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May 22, 2011, 04:51:47 AM |
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It would not be profitable to build a dedicated rig?
What if i just added a second card to a computer i already have? Would that be worth it?
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MoonShadow
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Merit: 1007
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May 22, 2011, 04:58:14 AM |
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It would not be profitable to build a dedicated rig?
Hard to say. Too many variables to guess. What if i just added a second card to a computer i already have? Would that be worth it?
Depends on how cheap you can get it and what your electric costs are. It would probably pay for itself if you can get a decent price for it, but unless you have free electric and AC or are heating with electro-resistive heat then it's almost certainly not going to cover it's own AC & electric costs. |
"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."
- Carroll Quigley, CFR member, mentor to Bill Clinton, from 'Tragedy And Hope'
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MysteryMiner
Legendary
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Activity: 1470
Merit: 1029
Show middle finger to system and then destroy it!
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May 22, 2011, 08:24:03 PM |
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It would not be profitable to build a dedicated rig?
What if i just added a second card to a computer i already have? Would that be worth it?
If You have use for the hardware after mining become too dificult, it might be. But the dificulty is increasing rapidly and bitcoin value is uncertain. You can add the other card for computer just fine. After all you just can go crossfire or sell the card to someone else. |
bc1q59y5jp2rrwgxuekc8kjk6s8k2es73uawprre4j
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Tukotih
Member
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Activity: 70
Merit: 10
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May 22, 2011, 08:37:20 PM |
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I want to get into mining more (build a rig and such) but a friend of mine is worried that this is all just a big distributed brute force hacking system..... I trust that it's not, but i would still lie more info. can i get some info on what my computer is doing when it mines??
Thanks.
I guess it could be possible for a pool-owner to rewrite the pool-code into a distributed brute-force system. The pool-owner would however have to do this very stealth and still payout if he wants to keep his miners. But as far as my knowledge reaches, it could very well be possible. That's why pools like deepbit that grows enormously large need to have their miners switch. It is far to dangerous to have so much hashing power in the hands of someone anonymous or anyone that knows what they are doing for that matter. |
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