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Showing 8 of 8 results by Gobc
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Board Development & Technical Discussion
Re: How did Bitcoin "start"?
by
Gobc
on 14/12/2016, 22:15:58 UTC
Yes, that is what I wanted to know! Thank you. I always wanted to know how the first link in the chain got started.
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Re: How did Bitcoin "start"?
by
Gobc
on 14/12/2016, 05:26:41 UTC
Quote from: achow101 on December 13, 2016, 03:47:19 PM
Quote from: Gobc on December 13, 2016, 06:47:55 AM
I know the history and what it is. I understand that the bitcoin network is essentually a bunch of self synchornizing ledgers. Anytime someone starts up a bitcoin wallet, it downloads the blockchain from the network, and then becomes another node in that network. My question is, who started the first node of the network, and how?
Satoshi was the first node on the network. The first block, block 0, was mined by satoshi. This block, known as the genesis block, is hard coded into the software and cannot ever change.

Satoshi created the Bitcoin network. Originally your node would connect to an IRC channel and receive IP addresses to connect to. This behavior was also hard coded into the client. Nowadays we use DNS seeders, servers that respond to a DNS request with IP addresses of nodes that you can connect to. We also use hard coded seed nodes. The DNS seeders and seed nodes are all hard coded into the software and automatically used to find the IP addresses of nodes in order to connect to the network.

Thank you for this. This explains a lot. In terms of how this was implemented, did he just basically load up a bitcoin client, and a miner program, and then the first block mined automatically became the genesis block?
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Re: How did Bitcoin "start"?
by
Gobc
on 13/12/2016, 06:47:55 UTC
I know the history and what it is. I understand that the bitcoin network is essentually a bunch of self synchornizing ledgers. Anytime someone starts up a bitcoin wallet, it downloads the blockchain from the network, and then becomes another node in that network. My question is, who started the first node of the network, and how?
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Topic
Board Development & Technical Discussion
Merits 1 from 1 user
How did Bitcoin "start"?
by
Gobc
on 13/12/2016, 06:40:33 UTC
⭐ Merited by ETFbitcoin (1)
How did the bitcoin or any crypto coin network start? I'm not talking about developing and compiling the actual software. How does the actual block chain get started?How is the first block of the block chain started? Is it simply created automatically by the first person to load and run the cryptocurrency's wallet?
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Board Beginners & Help
Re: Mining Pool BS
by
Gobc
on 10/01/2014, 06:01:47 UTC
Here are two screenshots of CG miner. Note that one of the screenshots is through a remote connection which is why the GPU temps aren't visible.

Here is an example of my problem. I've been mining bitbars. According to a mining calculator, at 2100 kh/s I should make 0.0077922 btb/hr. From the mining pool, i only made 0.00479. Fkn half! Aside from the litecoin and feathercoin pools that I originally tried, all mining pools rip me off. I don't know why. I appreciate your response though.

http://imagizer.imageshack.us/v2/150x100q90/163/cqs8.png

http://imagizer.imageshack.us/v2/150x100q90/545/zy7f.png
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Board Beginners & Help
Re: Mining Pool BS
by
Gobc
on 08/01/2014, 22:16:07 UTC
I've made sure all these things are correct. However I do notice that the mining pool HW is usually different that what CGminer is showing me. However in my original litecoin mining pool, they said that the reported hast rate is only an estimate and should not be relied upon.
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Board Beginners & Help
Re: Mining Pool BS
by
Gobc
on 08/01/2014, 06:45:35 UTC
absolutely.
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Board Beginners & Help
Topic OP
Mining Pool BS
by
Gobc
on 08/01/2014, 06:24:19 UTC
Hi All,

I have a question regarding mining pools and their payout schemes.

I've started mining litecoins about a month ago, and signed on to a mining pool. Before doing this I checked to see what my expected payout would be through a typical mining calculator and am pleased to say that the coins earned through this pool was typical to what the calculator predicted.

However, I have now begun to mine altcoins and sell them on exchanges. However I'm finding virtually every mining pool I sign up for, my earnings are about 1/10th of what a calculator should predict. Because of this, I generally mine altcoins that I can solomine.

Can anyone offer an explanation for this?