Difficulty - Bitcoin Wiki

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wafflepool.com - An auto switching scrypt coin mining pool

WafflePool is a multi-coin (scrypt) mining pool. Point your miner to WafflePool with a Bitcoin address as your username, and we take care of automatically mining the most profitable coin at all times, converting the earnings from each coin into Bitcoins, and paying you out in bitcoins! Mining alt-coins and converting to bitcoin is very often orders of magnitude more valuable than mining Bitcoin directly! No registration, no hassles, just point and start getting paid!
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TigerCoin TGC

TigerCoin TGC is a fork of Bitcoin version 0.8, with addition of super random blocks.
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"For those that don't understand: When BTC [coin] halves in 36 days, it will be a lot more profitable to mine [Bitcoin Cash] for a lot longer due 2 week difficulty adjustment, causing hashrate to gradually migrate to [Bitcoin Cash] over that 2 week time period."

submitted by Egon_1 to btc [link] [comments]

Bitcoin can adjust itself automatically for mining difficulty, it can also algorithmically reduces coin issuance every four years, yet it cannot increase block size without hard-fork!?

Everything else in Bitcoin is programmed with scale in mind: Number of new coins issued per block, mining difficultly etc. Yet, block sizes are fixed! What if block size was based on some amount off the mining difficulty? If the difficulty increases, so does the block-size which mean Bitcoin is more popular. If the difficulty drops below a certain threshold, block sizes drop because Bitcoin will be assumed to be less popular.
That way, block sizes would also be algorithmic like everything else in Bitcoin.
submitted by coin4coin to Bitcoin [link] [comments]

Blockchain Mining Difficulty For Bitcoin And Ethereum Gets Boost For Top Two Crypto Coins - Bitcoin Exchange Guide

Blockchain Mining Difficulty For Bitcoin And Ethereum Gets Boost For Top Two Crypto Coins - Bitcoin Exchange Guide submitted by ulros to fbitcoin [link] [comments]

Can someone explain please when less people mine bitcoin this means difficulty decreases? Means coins can be mined much quicker means bitcoin price drops eventually? Sorry if it’s a silly easy question 🤦🏻‍♂️

submitted by ozleb to Bitcoin [link] [comments]

Bitcoin difficulty just grew by 7.32% despite about 5% of hash rate left for mining an alt-coin.

submitted by bitsteiner to Bitcoin [link] [comments]

Can someone explain please when less people mine bitcoin this means difficulty decreases? Means coins can be mined much quicker means bitcoin price drops eventually? Sorry if its a silly easy question /r/Bitcoin

Can someone explain please when less people mine bitcoin this means difficulty decreases? Means coins can be mined much quicker means bitcoin price drops eventually? Sorry if its a silly easy question /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

Post Segwit2X hard-fork Miner will have choice of mining 3 different coins, How is difficulty adjustment look like ? /r/Bitcoin

Post Segwit2X hard-fork Miner will have choice of mining 3 different coins, How is difficulty adjustment look like ? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

03-09 19:22 - 'Also no miners will keep mining the minority not even one day because staying there mean possibly super low coin price with same difficulty. You won't even get much mining reward for weeks. Same time, all miners need to pay el...' by /u/KingofKens removed from /r/Bitcoin within 0-4min

'''
Also no miners will keep mining the minority not even one day because staying there mean possibly super low coin price with same difficulty. You won't even get much mining reward for weeks. Same time, all miners need to pay electricity and loans for their machines..... Only idiots want to stay......... People here have no idea about business of mining...... Kind of sad. Buy S9 and mine the low profitable core coin if you want.....
'''
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Author: KingofKens
submitted by removalbot to removalbot [link] [comments]

Bitcoin can adjust itself automatically for mining difficulty, it can also algorithmically reduces coin issuance every four years, yet it cannot increase block size without hard-fork!? /r/Bitcoin

Bitcoin can adjust itself automatically for mining difficulty, it can also algorithmically reduces coin issuance every four years, yet it cannot increase block size without hard-fork!? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

When all coins are mined, can we reduce the block difficulty? /r/Bitcoin

When all coins are mined, can we reduce the block difficulty? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Memexplaination

Memexplaination submitted by irushibiradar to Bitcoin [link] [comments]

Bitcoin price history

Bitcoin price history submitted by PatPadillao to btc [link] [comments]

Hypothetical question: in the event of a large world disrupting event (war)...

Hypothetically, in the event of a large war, the undersea cables that connect the world with internet could be severed. Satellite internet could be disabled through further wartime acts. We could end up with several discreet, independant internets that are not only separated by great firewalls, but also physically separated from each other.
It's my understanding that the block chain would essentially continue in each internet pocket unhindered, but not synchronized.
So what happened if after a prolonged period of isolation, let's say 5 years, the networks become reconnected.
Would the two block chains "merge"
If they merge, how would potentially conflicting transactions be handled? Double spending? Would one block chain fully overwrite the other? Effectively nullifying 5 years worth of transactions? Or would the possible overwrite only affect specific conflicting transactions?
Or would they stay as separate discreet chains at that point?
Would that mean someone who has keys today would then have keys for multiple sets of bitcoins on multiple block chains with the same keys? (so if I had 1btc today, after the "war" would I then have 1btc [Americas] 1btc [Asia] and 1btc [Europe])
submitted by StupidAuthentication to Bitcoin [link] [comments]

ABC officially forking: All newly mined blocks must contain an output assigning 8% of the newly mined coins to a specified address. While some may prefer that Bitcoin ABC did not implement this improvement, this announcement is not an invitation for debate.

ABC officially forking: All newly mined blocks must contain an output assigning 8% of the newly mined coins to a specified address. While some may prefer that Bitcoin ABC did not implement this improvement, this announcement is not an invitation for debate. submitted by zhell_ to btc [link] [comments]

Supply scarcity reminders for all.

Everyone knows that scarcity of bitcoin is increasing and that the last bitcoin will be mined in 2140. However, bitcoin is going to get much scarcer much sooner than 2140. Here are some rough estimates.
  1. Today ~88% of all bitcoin have been mined.
  2. 2022 ~90% of all bitcoin have been mined.
  3. 2025 ~95% of all bitcoin have been mined.
  4. 2030 ~98% of all bitcoin have been mined.
  5. 2034 ~99% of all bitcoin have been mined.
From the year 2034 to 2140 (106 years), the remaining 1% of all bitcoin that will ever exist will be mined.
Several decades from now, work will begin on mining the final coin. Mining that final 1 bitcoin will take many decades more.
There will come a time when owning a whole bitcoin will be an almost mythical situation that is very rare.
submitted by freebit to Bitcoin [link] [comments]

What's the deal with Dogecoin?

Dogecoin is currently trending on Twitter, and seems to have gone viral on tiktok. One video says if you invest just $25, once dogecoin hits $1 you will make $10,000. Is there a possibility it will actually hit $1, or is it just a waste of time to invest?
Example video: https://vm.tiktok.com/J8uoY1Q/
Example article: https://gizmodo.com/tiktok-users-discover-the-secret-to-getting-rich-dogec-1844294679
submitted by Iancrowley to OutOfTheLoop [link] [comments]

Bitcoin Cash Halving is happening in less than 24 hours

Bitcoin Cash Halving is happening in less than 24 hours submitted by coingecko to btc [link] [comments]

Bitcoin done it right: Having a Hard Cap is a prerequisite to Decentralization as a Cryptocurrency

Any cryptocurrency that doesn't have a max supply isn't decentralized by default. The fact that a cryptocurrency can be prone to inflation or easy manipulation by a central authority in that manner, makes it remove the decentralization label by default. Satoshi Nakamoto did it right. Many other cryptocurrencies are centralized cryptos wearing decentralized crypto's clothing. Bitcoin is one of the few cryptocurrency currently living up to the hype of being decentralized.
submitted by LoneroLNR to Bitcoin [link] [comments]

Gridcoin 5.0.0.0-Mandatory "Fern" Release

https://github.com/gridcoin-community/Gridcoin-Research/releases/tag/5.0.0.0
Finally! After over ten months of development and testing, "Fern" has arrived! This is a whopper. 240 pull requests merged. Essentially a complete rewrite that was started with the scraper (the "neural net" rewrite) in "Denise" has now been completed. Practically the ENTIRE Gridcoin specific codebase resting on top of the vanilla Bitcoin/Peercoin/Blackcoin vanilla PoS code has been rewritten. This removes the team requirement at last (see below), although there are many other important improvements besides that.
Fern was a monumental undertaking. We had to encode all of the old rules active for the v10 block protocol in new code and ensure that the new code was 100% compatible. This had to be done in such a way as to clear out all of the old spaghetti and ring-fence it with tightly controlled class implementations. We then wrote an entirely new, simplified ruleset for research rewards and reengineered contracts (which includes beacon management, polls, and voting) using properly classed code. The fundamentals of Gridcoin with this release are now on a very sound and maintainable footing, and the developers believe the codebase as updated here will serve as the fundamental basis for Gridcoin's future roadmap.
We have been testing this for MONTHS on testnet in various stages. The v10 (legacy) compatibility code has been running on testnet continuously as it was developed to ensure compatibility with existing nodes. During the last few months, we have done two private testnet forks and then the full public testnet testing for v11 code (the new protocol which is what Fern implements). The developers have also been running non-staking "sentinel" nodes on mainnet with this code to verify that the consensus rules are problem-free for the legacy compatibility code on the broader mainnet. We believe this amount of testing is going to result in a smooth rollout.
Given the amount of changes in Fern, I am presenting TWO changelogs below. One is high level, which summarizes the most significant changes in the protocol. The second changelog is the detailed one in the usual format, and gives you an inkling of the size of this release.

Highlights

Protocol

Note that the protocol changes will not become active until we cross the hard-fork transition height to v11, which has been set at 2053000. Given current average block spacing, this should happen around October 4, about one month from now.
Note that to get all of the beacons in the network on the new protocol, we are requiring ALL beacons to be validated. A two week (14 day) grace period is provided by the code, starting at the time of the transition height, for people currently holding a beacon to validate the beacon and prevent it from expiring. That means that EVERY CRUNCHER must advertise and validate their beacon AFTER the v11 transition (around Oct 4th) and BEFORE October 18th (or more precisely, 14 days from the actual date of the v11 transition). If you do not advertise and validate your beacon by this time, your beacon will expire and you will stop earning research rewards until you advertise and validate a new beacon. This process has been made much easier by a brand new beacon "wizard" that helps manage beacon advertisements and renewals. Once a beacon has been validated and is a v11 protocol beacon, the normal 180 day expiration rules apply. Note, however, that the 180 day expiration on research rewards has been removed with the Fern update. This means that while your beacon might expire after 180 days, your earned research rewards will be retained and can be claimed by advertising a beacon with the same CPID and going through the validation process again. In other words, you do not lose any earned research rewards if you do not stake a block within 180 days and keep your beacon up-to-date.
The transition height is also when the team requirement will be relaxed for the network.

GUI

Besides the beacon wizard, there are a number of improvements to the GUI, including new UI transaction types (and icons) for staking the superblock, sidestake sends, beacon advertisement, voting, poll creation, and transactions with a message. The main screen has been revamped with a better summary section, and better status icons. Several changes under the hood have improved GUI performance. And finally, the diagnostics have been revamped.

Blockchain

The wallet sync speed has been DRASTICALLY improved. A decent machine with a good network connection should be able to sync the entire mainnet blockchain in less than 4 hours. A fast machine with a really fast network connection and a good SSD can do it in about 2.5 hours. One of our goals was to reduce or eliminate the reliance on snapshots for mainnet, and I think we have accomplished that goal with the new sync speed. We have also streamlined the in-memory structures for the blockchain which shaves some memory use.
There are so many goodies here it is hard to summarize them all.
I would like to thank all of the contributors to this release, but especially thank @cyrossignol, whose incredible contributions formed the backbone of this release. I would also like to pay special thanks to @barton2526, @caraka, and @Quezacoatl1, who tirelessly helped during the testing and polishing phase on testnet with testing and repeated builds for all architectures.
The developers are proud to present this release to the community and we believe this represents the starting point for a true renaissance for Gridcoin!

Summary Changelog

Accrual

Changed

Most significantly, nodes calculate research rewards directly from the magnitudes in EACH superblock between stakes instead of using a two- or three- point average based on a CPID's current magnitude and the magnitude for the CPID when it last staked. For those long-timers in the community, this has been referred to as "Superblock Windows," and was first done in proof-of-concept form by @denravonska.

Removed

Beacons

Added

Changed

Removed

Unaltered

As a reminder:

Superblocks

Added

Changed

Removed

Voting

Added

Changed

Removed

Detailed Changelog

[5.0.0.0] 2020-09-03, mandatory, "Fern"

Added

Changed

Removed

Fixed

submitted by jamescowens to gridcoin [link] [comments]

Buttcoin cash hash rate is taking a nose dive, -75% in one day

Buttcoin cash hash rate is taking a nose dive, -75% in one day submitted by Cthulhooo to Buttcoin [link] [comments]

The discrepancy between BTC's hashrate and price are extremely suspicious

Assuming fairly efficient ASIC miners, which on average have an efficiency of ~34.5 J/TH:

c = Current hashrate = 88,200,000 TH/s
e = ASIC Efficiency (average) = 34.5 J/TH
a = Average electricity (including industrial and other expenses) = $0.12 USD/kWh
b = Current Block Reward = ₿6.25
m = Mining Fee Subsidies = ~₿ 9.5

∴ price = ~[((c * e)/6,000)(a)] / (b + m)
= ~$3864 to produce 1 Bitcoin

The actual market price is 138% above the cost of actually producing a Bitcoin.

Edit 1: I was an idiot, and forgot that the mining fees were what were collected daily (thanks to u/impleplum, so recalculating, it costs roughly ~$9016 to produce a Bitcoin, making the market value 2% above the cost of production, but Bitcoin Cash still costs $265 to produce, still making it 14% more expensive to mine Bitcoin Cash than the actual market value of it.
submitted by 1MightBeAPenguin to btc [link] [comments]

Can anyone give me a quick explanation?

Hi everybody! Beginner bitcoin miner here. I recently bought a newpac bitcoin USB stick miner just to mess around with and explore the world of bitcoin mining. I finally got it running today just off of my motherboard and it is averaging somewhere around 25 Gh/s. I'm using cudo miner btw. I have also been running my gpu, a Radeon RX 570 to mine which has been averaging around 10-12 Mh/s. When i check my stats on CudoMiner my newpac is making wayyyyy less satoshis than my GPU. Can anyone help me explain why this is happening when the newpac is averaging a lot more hash power?
Thanks in advance.
submitted by JustAnotherChonch to BitcoinMining [link] [comments]

Raspberry Pi 4 Bitcoin Mining For 24 Hours! - YouTube Bitcoin Q&A: Why Can't Bitcoin Mining Difficulty Adjust a Little Quicker? Is Bitcoin Mining Profitable RIGHT NOW In Early 2020 ... Best Bitcoin Mining Software That Work in 2020 🍓 - YouTube BITCOIN MINING DIFFICULTY EXPLAINED IN 10 MINUTES!

The Bitcoin difficulty chart provides the current Bitcoin difficulty (BTC diff) target as well as a historical data graph visualizing Bitcoin mining difficulty chart values with BTC difficulty adjustments (both increases and decreases) defaulted to today with timeline options of 1 day, 1 week, 1 month, 3 months, 6 months, 1 year, 3 years, and all time Difficulty is a value used to show how hard is it to find a hash that will be lower than target defined by system.. The Bitcoin network has a global block difficulty. Valid blocks must have a hash below this target. Mining pools also have a pool-specific share difficulty setting a lower limit for shares. The Bitcoin Network Difficulty Metric. The Bitcoin network difficulty is the measure of how difficult it is to find a new block compared to the easiest it can ever be. It is recalculated every 2016 blocks to a value such that the previous 2016 blocks would have been generated in exactly two weeks had everyone been mining at this difficulty. Difficulty is a measure of how difficult it is to find a hash below a given target. The Bitcoin network has a global block difficulty. Valid blocks must have a hash below this target. Mining pools also have a pool-specific share difficulty setting a lower limit for shares. How often does the network difficulty change? Every 2016 blocks. Bitcoin Mining Difficulty Chart PDF. What’s next? Once you get the grasp of this Bitcoin rule, you’ll be able to consider it while running your mining operation.For example, when price is down not everything is lost- when difficulty goes down as well, you’ll earn more of that coin, plus you can hoddle and sell it when the price rise again.

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Raspberry Pi 4 Bitcoin Mining For 24 Hours! - YouTube

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