https://en.bitcoin.it/w/api.php?action=feedcontributions&feedformat=atom&user=Iscalar 2026-05-22T14:16:28Z User contributions MediaWiki 1.43.8 https://en.bitcoin.it/w/index.php?title=Category:Mining&diff=15032 2011-08-15T22:22:13Z

<p>Iscalar: </p> <hr /> <div>Reprinted from the [[How_bitcoin_works#Bitcoin_mining|How Bitcoin works]] page:<br /> <br /> == High Level Description ==<br /> '''Mining''' bitcoins is the process of generating [[blocks]] for the [[block chain]], which is a way of processing and verifying [[transactions]]. Adding a block to the block chain is difficult, requiring time and processing power to accomplish. So what incentive does anyone have to spend the effort to produce a block, if it takes up all these resources? The answer is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.) Second, any transaction fees that may be present in the transactions included in the block, get claimed by the block producer.<br /> <br /> This gives rise to the activity known as &quot;bitcoin mining&quot; - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the difficulty is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).<br /> <br /> Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating blocks in the block chain.<br /> <br /> ==Guides==<br /> <br /> * [http://www.iscyspace.com Iscyspace Free 10 step guide.]<br /> * [http://www.weusecoins.com/mining-guide.php WeUseCoins - Mining Guide]<br /> * [http://ewoah.com/technology/a-very-good-guide-to-building-a-bitcoin-mining-rig-cluster-guide eWoah: How to build a Bitcoin Mining Rig Cluster]<br /> * [http://bitcointalk.org/?topic=7514.0 Ubuntu Natty Narwhal 11.04 Mining Guide / HOWTO]<br /> * [http://www.iscyspace.com Iscyspace] free 10 step guide<br /> * [https://bitcointalk.org/index.php?topic=34226.0 Digbtc.net bitcoin mining]<br /> * [http://bitcointalk.org/index.php?topic=17805.0 MineCo.in pool: Beginners guide to pooled bitcoin mining]<br /> * [http://bitclockers.com/forums/index.php?topic=3.0 BitClockers pool: Getting started mining]<br /> <br /> [[zh-cn:Category:开采]]<br /> [[de:Kategorie:Mining]]</div>

Iscalar https://en.bitcoin.it/w/index.php?title=Category:Mining&diff=14853 2011-08-13T12:16:35Z

<p>Iscalar: Also the site does not have a plug in on it any longer, check the source if you do not believe that statement, finally, check your messages and reply accordingly, Sort this discussion via my on email via callum49@gmail.com before any further edits.</p> <hr /> <div>Reprinted from the [[How_bitcoin_works#Bitcoin_mining|How Bitcoin works]] page:<br /> <br /> == High Level Description ==<br /> '''Mining''' bitcoins is the process of generating [[blocks]] for the [[block chain]], which is a way of processing and verifying [[transactions]]. Adding a block to the block chain is difficult, requiring time and processing power to accomplish. So what incentive does anyone have to spend the effort to produce a block, if it takes up all these resources? The answer is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.) Second, any transaction fees that may be present in the transactions included in the block, get claimed by the block producer.<br /> <br /> This gives rise to the activity known as &quot;bitcoin mining&quot; - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the difficulty is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).<br /> <br /> Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating blocks in the block chain.<br /> <br /> == Free 10 step guide ==<br /> <br /> For a free 10 step guide on how to mine bit coins visit [http://www.iscyspace.com This link] right here.<br /> <br /> ==Guides==<br /> <br /> * [http://www.weusecoins.com/mining-guide.php WeUseCoins - Mining Guide]<br /> * [http://ewoah.com/technology/a-very-good-guide-to-building-a-bitcoin-mining-rig-cluster-guide eWoah: How to build a Bitcoin Mining Rig Cluster]<br /> * [http://bitcointalk.org/?topic=7514.0 Ubuntu Natty Narwhal 11.04 Mining Guide / HOWTO]<br /> * [http://bitcointalk.org/index.php?topic=17805.0 MineCo.in pool: Beginners guide to pooled bitcoin mining]<br /> * [http://bitclockers.com/forums/index.php?topic=3.0 BitClockers pool: Getting started mining]<br /> <br /> [[zh-cn:Category:开采]]<br /> [[de:Kategorie:Mining]]</div>

Iscalar https://en.bitcoin.it/w/index.php?title=Category:Mining&diff=14852 2011-08-13T12:13:52Z

<p>Iscalar: /* Free 10 step guide */ Who agree that the site link on the wiki is not a problem, Do not remove my link again please until you have permission from a moderator or administrator to do so. I&#039;ve contacted my staff, you do the same.</p> <hr /> <div>Reprinted from the [[How_bitcoin_works#Bitcoin_mining|How Bitcoin works]] page:<br /> <br /> == High Level Description ==<br /> '''Mining''' bitcoins is the process of generating [[blocks]] for the [[block chain]], which is a way of processing and verifying [[transactions]]. Adding a block to the block chain is difficult, requiring time and processing power to accomplish. So what incentive does anyone have to spend the effort to produce a block, if it takes up all these resources? The answer is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.) Second, any transaction fees that may be present in the transactions included in the block, get claimed by the block producer.<br /> <br /> This gives rise to the activity known as &quot;bitcoin mining&quot; - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the difficulty is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).<br /> <br /> Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating blocks in the block chain.<br /> <br /> == Free 10 step guide ==<br /> <br /> For a free 10 step guide on how to mine bit coins visit [http://www.iscyspace.com This link] here.<br /> <br /> ==Guides==<br /> <br /> * [http://www.weusecoins.com/mining-guide.php WeUseCoins - Mining Guide]<br /> * [http://ewoah.com/technology/a-very-good-guide-to-building-a-bitcoin-mining-rig-cluster-guide eWoah: How to build a Bitcoin Mining Rig Cluster]<br /> * [http://bitcointalk.org/?topic=7514.0 Ubuntu Natty Narwhal 11.04 Mining Guide / HOWTO]<br /> * [http://bitcointalk.org/index.php?topic=17805.0 MineCo.in pool: Beginners guide to pooled bitcoin mining]<br /> * [http://bitclockers.com/forums/index.php?topic=3.0 BitClockers pool: Getting started mining]<br /> <br /> [[zh-cn:Category:开采]]<br /> [[de:Kategorie:Mining]]</div>

Iscalar https://en.bitcoin.it/w/index.php?title=Category:Mining&diff=14851 2011-08-13T12:12:40Z

<p>Iscalar: That is not your decision to make, Thousands have used my guide and you are the first real complaint I&#039;ve had, I have contacted an admin as well as been perfectly reasonable with you, as well as talking with some of the IRC&#039;s OP&#039;s.</p> <hr /> <div>Reprinted from the [[How_bitcoin_works#Bitcoin_mining|How Bitcoin works]] page:<br /> <br /> == High Level Description ==<br /> '''Mining''' bitcoins is the process of generating [[blocks]] for the [[block chain]], which is a way of processing and verifying [[transactions]]. Adding a block to the block chain is difficult, requiring time and processing power to accomplish. So what incentive does anyone have to spend the effort to produce a block, if it takes up all these resources? The answer is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.) Second, any transaction fees that may be present in the transactions included in the block, get claimed by the block producer.<br /> <br /> This gives rise to the activity known as &quot;bitcoin mining&quot; - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the difficulty is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).<br /> <br /> Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating blocks in the block chain.<br /> <br /> == Free 10 step guide ==<br /> <br /> For a free 10 step guide on how to mine bit coins visit [http://www.iscyspace.com This link]<br /> ==Guides==<br /> <br /> * [http://www.weusecoins.com/mining-guide.php WeUseCoins - Mining Guide]<br /> * [http://ewoah.com/technology/a-very-good-guide-to-building-a-bitcoin-mining-rig-cluster-guide eWoah: How to build a Bitcoin Mining Rig Cluster]<br /> * [http://bitcointalk.org/?topic=7514.0 Ubuntu Natty Narwhal 11.04 Mining Guide / HOWTO]<br /> * [http://bitcointalk.org/index.php?topic=17805.0 MineCo.in pool: Beginners guide to pooled bitcoin mining]<br /> * [http://bitclockers.com/forums/index.php?topic=3.0 BitClockers pool: Getting started mining]<br /> <br /> [[zh-cn:Category:开采]]<br /> [[de:Kategorie:Mining]]</div>

Iscalar https://en.bitcoin.it/w/index.php?title=User_talk:Sgornick&diff=14759 2011-08-12T08:24:36Z

<p>Iscalar: </p> <hr /> <div>__TOC__<br /> <br /> ==06:22, 4 August 2011 (GMT)==<br /> Trade‎; 05:20 . . (-71) . . Sgornick (Talk | contribs)‎ (→Getting started: Remove BTCBase, this is wiki is generally for english-only sites. There are separate wikis for other languages.)<br /> Yet Bitomat is not available in English... what's the difference here? --[[User:Luke-jr|Luke-jr]] 06:22, 4 August 2011 (GMT)<br /> <br /> Good point, Luke-jr. Unfortunately, they don't belong on the trade page for another reason -- they are info only, they have no trade. Otherwise I would add them back in somewhere.<br /> <br /> ==13:13, 10 August 2011 (GMT)==<br /> Mr. Sgornick I thought this was a good idea. I don't understand how it hurts the community?!(I don't see the reasons in deleting them.) I made my contributions (Introduced 4-5 bitcoin-related sites and wrote some descriptions). The users don't have anything to loose and the BTC I make out of this I intend to spend on bitcoindeals.com (after I get an invitation). Isn't there a way I can leave those links there? We have the same rights on this wiki so I hope we can disscus this with respect and consideration.<br /> --[[User:Vladgiurgiubv|Vladgiurgiubv]] 13:13, 10 August 2011 (GMT)<br /> <br /> Vladgiurgiubv, It was an unwritten but generally accepted rule that no affiliate / referral links should be included in the wiki for a number of reasons. The [[BitcoinWiki:Rules|policy]] does now exist though.<br /> <br /> ==22:58, 11 August 2011‎ (GMT)==<br /> <br /> Dear sgornick, I realize you recently removed my links to iscyspace on the mining guide, how bit coin works and irc claiming they were none existent, this is not the case, I'll agree to the irc one because well . . . my irc is pretty much empty &gt;_&lt; however my site most certainly does exist and in fact the guide is blatantly on the open page, as a sign of good will I have removed the linkbucks links and replaced them with direct links instead as i pay for my site through advertisements, although even I admit the linkbucks thing took it a bit to far, I've sent you an email explaining the situation and offering some further comments and I hope to hear back from you soon.<br /> <br /> It is blatant spam/advertising. Using a binary distribution site for open source software is uncool, and clearly shows you to be unqualified to contribute further on this wiki, in my opinion. I've referred this to the admins. - [[User:Sgornick|Sgornick]] 23:30, 11 August 2011 (GMT)<br /> <br /> It's not a binary distribution site first of all, it offers links to the official download pages for each piece of software man, its simlpy a guide to help people set up miners and solve any common problems, the only advertisements on the site is a top banner and a side box of which both are tiny and non distracting, there are no pop ups and no spam, we don't take emails from people so we cant spam them through that, I just don't understand how you see the site as spam advertisements, have you even looked at it =/ Seriously look, its just a set up guide and in fact has less advertisements on it than most other websites, I don't understand the rationality behind your argument, can you at least check my site and show me what spam advertisements you are referring to so i can fix this problem, because believe it or not the site does matter to me, as does its popularity with the bit coin community and the simple removal of my links yesterday literally vaporized my hit rate to practically non existent, you know the bit coin community lacks simple set up guides and that's all I offer, a guide, with links to what they need, nothing more, no spam advertisements like you claim. And finally as a testament to such, tell me EXACTLY what part of the site your unhappy with, and ill try my hardest to change it, im just proud of my little site and i don't want it being damaged, it makes no money and i'll show you, admins, and anyone else the ad sense logs to prove that.</div>

Iscalar https://en.bitcoin.it/w/index.php?title=Category_talk:Mining&diff=14754 2011-08-12T08:13:38Z

<p>Iscalar: updated homepage screeny</p> <hr /> <div>Regarding sgornicks claims of the guide being unexistant and being full of spam ads, please find enclosed a link to a screenshot of the websites home page as proof otherwise. http://img638.imageshack.us/img638/3423/iscy.png</div>

Iscalar https://en.bitcoin.it/w/index.php?title=Category_talk:Mining&diff=14753 2011-08-12T08:11:24Z

<p>Iscalar: Created page with &quot;Regarding sgornicks claims of the guide being unexistant and being full of spam ads, please find enclosed a link to a screenshot of the websites home page as proof otherwise. ...&quot;</p> <hr /> <div>Regarding sgornicks claims of the guide being unexistant and being full of spam ads, please find enclosed a link to a screenshot of the websites home page as proof otherwise. http://imageshack.us/f/29/iscy.png/</div>

Iscalar https://en.bitcoin.it/w/index.php?title=User_talk:Gavinandresen&diff=14750 2011-08-12T07:47:13Z

<p>Iscalar: Personal message</p> <hr /> <div>== SourceForge ==<br /> <br /> Hello, I just edited the HTTPS link that you added to SourceForge since they do not really support HTTPS (the HTTPS version automatically redirects to the HTTP version). --[[User:OsamaK|OsamaK]] 12:13, 13 June 2011 (GMT)<br /> <br /> Dear gavin, recently I've been having a problem with a user known as sgornik, who has removed my links to a free mining guide I offer people to get started in bit coin mining, first claiming it to be completely non existent, then claiming it to be blatant spam advertising, I removed the link bucks links (which showed a 10 second wait page before loading up my webpage, I used this to pay the site upkeep) as a sign of good will and sent a message to sgornik asking him to have another look at the site to see if he's happy, now he says he has referred me to the administration as a spam advertiser and that I shouldn't be able to contribute to the wiki, obviously I find this quite distressing as my website (www.iscyspace.com) literally has 2 google adsense ads which are non profit and pay for the site costs, has no pop ups, no extremely large distracting ads or anything of the like so I fail to see this so called &quot;Blatant spam and advertisements&quot;, please if you could spare the time can you have a peek at the site, tell me what you think, and if I could make any improvements to help better the bit coin community, as all I wish to do is have a simple guide to get miners started and the support and traffic I've received from the wiki has made it into the primary site for people to get started in bit mining, with 60k hits a month made in the first month (last month ^-^) Please could you key in on this issue as I find sgorniks behavior to be quite distressing really and hes even claiming it to be a binary distribution site, which is odd because I host no files of my own and all my download links go directly to the official webpage as I'm sure you will be able to see quite clearly for yourself, please get back to me on this.</div>

Iscalar https://en.bitcoin.it/w/index.php?title=User_talk:Sgornick&diff=14749 2011-08-12T07:35:31Z

<p>Iscalar: /* 22:58, 11 August 2011‎ (GMT) */ Come on bro, at least check the thing first.</p> <hr /> <div>==06:22, 4 August 2011 (GMT)==<br /> Trade‎; 05:20 . . (-71) . . Sgornick (Talk | contribs)‎ (→Getting started: Remove BTCBase, this is wiki is generally for english-only sites. There are separate wikis for other languages.)<br /> Yet Bitomat is not available in English... what's the difference here? --[[User:Luke-jr|Luke-jr]] 06:22, 4 August 2011 (GMT)<br /> <br /> Good point, Luke-jr. Unfortunately, they don't belong on the trade page for another reason -- they are info only, they have no trade. Otherwise I would add them back in somewhere.<br /> <br /> ==13:13, 10 August 2011 (GMT)==<br /> Mr. Sgornick I thought this was a good idea. I don't understand how it hurts the community?!(I don't see the reasons in deleting them.) I made my contributions (Introduced 4-5 bitcoin-related sites and wrote some descriptions). The users don't have anything to loose and the BTC I make out of this I intend to spend on bitcoindeals.com (after I get an invitation). Isn't there a way I can leave those links there? We have the same rights on this wiki so I hope we can disscus this with respect and consideration.<br /> --[[User:Vladgiurgiubv|Vladgiurgiubv]] 13:13, 10 August 2011 (GMT)<br /> <br /> Vladgiurgiubv, It was an unwritten but generally accepted rule that no affiliate / referral links should be included in the wiki for a number of reasons. The [[BitcoinWiki:Rules|policy]] does now exist though.<br /> <br /> ==22:58, 11 August 2011‎ (GMT)==<br /> <br /> Dear sgornick, I realize you recently removed my links to iscyspace on the mining guide, how bit coin works and irc claiming they were none existent, this is not the case, I'll agree to the irc one because well . . . my irc is pretty much empty &gt;_&lt; however my site most certainly does exist and in fact the guide is blatantly on the open page, as a sign of good will I have removed the linkbucks links and replaced them with direct links instead as i pay for my site through advertisements, although even I admit the linkbucks thing took it a bit to far, I've sent you an email explaining the situation and offering some further comments and I hope to hear back from you soon.<br /> <br /> It is blatant spam/advertising. Using a binary distribution site for open source software is uncool, and clearly shows you to be unqualified to contribute further on this wiki, in my opinion. I've referred this to the admins. - [[User:Sgornick|Sgornick]] 23:30, 11 August 2011 (GMT)<br /> <br /> It's not a binary distribution site first of all, it offers links to the official download pages for each piece of software man, its simlpy a guide to help people set up miners and solve any common problems, the only advertisements on the site is a top banner and a side box of which both are tiny and non distracting, there are no pop ups and no spam, we don't take emails from people so we cant spam them through that, I just don't understand how you see the site as spam advertisements, have you even looked at it =/ Seriously look, its just a set up guide and in fact has less advertisements on it than most other websites, I don't understand the rationality behind your argument, can you at least check my site and show me what spam advertisements you are referring to so i can fix this problem, because believe it or not the site does matter to me, as does its popularity with the bit coin community and the simple removal of my links yesterday literally vaporized my hit rate to practically non existent, you know the bit coin community lacks simple set up guides and that's all I offer, a guide, with links to what they need, nothing more, no spam advertisements like you claim.</div>

Iscalar https://en.bitcoin.it/w/index.php?title=User:Iscalar&diff=14732 2011-08-11T23:01:35Z

<p>Iscalar: Created page with &quot;I own www.iscyspace.com A site paid for by a couple of google ads to offer people a free 10 step guide to set up bit coin mining, any questions regarding mining or bit coins ...&quot;</p> <hr /> <div>I own www.iscyspace.com A site paid for by a couple of google ads to offer people a free 10 step guide to set up bit coin mining, any questions regarding mining or bit coins in general, or even if your just a fellow bit coin enthusiast who's up for a chat feel free to email me at callum49@gmail.com</div>

Iscalar https://en.bitcoin.it/w/index.php?title=User_talk:Sgornick&diff=14730 2011-08-11T22:58:24Z

<p>Iscalar: /* Dear sgnornick. */ new section</p> <hr /> <div>==06:22, 4 August 2011 (GMT)==<br /> Trade‎; 05:20 . . (-71) . . Sgornick (Talk | contribs)‎ (→Getting started: Remove BTCBase, this is wiki is generally for english-only sites. There are separate wikis for other languages.)<br /> Yet Bitomat is not available in English... what's the difference here? --[[User:Luke-jr|Luke-jr]] 06:22, 4 August 2011 (GMT)<br /> <br /> Good point, Luke-jr. Unfortunately, they don't belong on the trade page for another reason -- they are info only, they have no trade. Otherwise I would add them back in somewhere.<br /> <br /> ==13:13, 10 August 2011 (GMT)==<br /> Mr. Sgornick I thought this was a good idea. I don't understand how it hurts the community?!(I don't see the reasons in deleting them.) I made my contributions (Introduced 4-5 bitcoin-related sites and wrote some descriptions). The users don't have anything to loose and the BTC I make out of this I intend to spend on bitcoindeals.com (after I get an invitation). Isn't there a way I can leave those links there? We have the same rights on this wiki so I hope we can disscus this with respect and consideration.<br /> --[[User:Vladgiurgiubv|Vladgiurgiubv]] 13:13, 10 August 2011 (GMT)<br /> <br /> Vladgiurgiubv, It was an unwritten but generally accepted rule that no affiliate / referral links should be included in the wiki for a number of reasons. The [[BitcoinWiki:Rules|policy]] does now exist though.<br /> <br /> == Dear sgnornick. ==<br /> <br /> Dear sgornick, I realize you recently removed my links to iscyspace on the mining guide, how bit coin works and irc claiming they were none existent, this is not the case, I'll agree to the irc one because well . . . my irc is pretty much empty &gt;_&lt; however my site most certainly does exist and in fact the guide is blatantly on the open page, as a sign of good will I have removed the linkbucks links and replaced them with direct links instead as i pay for my site through advertisements, although even I admit the linkbucks thing took it a bit to far, I've sent you an email explaining the situation and offering some further comments and I hope to hear back from you soon.</div>

Iscalar https://en.bitcoin.it/w/index.php?title=How_bitcoin_works&diff=14729 2011-08-11T22:47:14Z

<p>Iscalar: /* Bitcoin mining */</p> <hr /> <div>This page explains the basic framework of Bitcoin's functionality.<br /> <br /> ==Cryptography==<br /> <br /> There are several cryptographic technologies that make up the essence of Bitcoin. <br /> <br /> First is [http://en.wikipedia.org/wiki/Public-key_cryptography public key cryptography]. Each coin is associated with its current owner's public [http://en.wikipedia.org/wiki/Elliptic_Curve_DSA ECDSA] key. When you send some bitcoins to someone, you create a message ([[transaction]]), attaching the new owner's public key to this amount of coins, and sign it with your private key. When this transaction is broadcast to the bitcoin network, this lets everyone know that the new owner of these coins in the owner of the new key. Your signature on the message verifies for everyone that the message is authentic. The complete history of transactions is kept by everyone, so anyone can verify who is the current owner of any particular group of coins.<br /> <br /> This complete record of transactions is kept in the [[block chain]], which is a sequence of records called [[block|blocks]]. All computers in the network have a copy of the block chain, which they keep updated by passing along new blocks to each other. Each block contains a group of transactions that have been sent since the previous block. In order to preserve the integrity of the block chain, each block in the chain confirms the integrity of the previous one, all the way back to the first one, the [[genesis block]]. Record insertion is costly because each block must meet certain requirements that make it [[difficulty|difficult]] to generate a valid block. This way, no party can overwrite previous records by just forking the chain.<br /> <br /> Both the chaining, and the difficulty, are achieved via the [http://en.wikipedia.org/wiki/SHA-2 SHA256] [http://en.wikipedia.org/wiki/Cryptographic_hash_function cryptographic hash function]. The hash function essentially takes a block of data, and transforms it, in an effectively-impossible to reverse or to predict way, into a large integer. Making the slightest change to a block of data changes its hash unpredictably, so nobody can create a different block of data that gives exactly the same hash. Therefore, by being given a short hash, you can confirm that it matches only a particular long block of data. This way, Bitcoin blocks don't have to contain serial numbers, as blocks can be identified by their hash, which serves the dual purpose of identification as well as integrity verification.<br /> <br /> The [[difficulty]] factor is achieved by requiring that this integer is below a certain threshold - the data in the block is perturbed by a [[nonce]] value, until the data in the block hashes to produce an integer below the threshold - which takes a lot of processing power. This low hash value for the block serves as an easily-verifiable [[proof of work]] - every node on the network can instantly verify that the block meets the required criteria.<br /> <br /> With this framework, we are able to achieve the essential functions of the Bitcoin system. We have verifiable ownership of bitcoins, and a distributed database of all transactions, which prevents [[#Double_spending|double spending]].<br /> <br /> ==Bitcoin mining==<br /> <br /> We have mentioned in the previous section that adding a block to the block chain is difficult, requiring time and processing power to accomplish. So what incentive does anyone have to spend the effort to produce a block, if it takes up all these resources? The answer is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.) Second, any [[transaction fees]] that may be present in the transactions included in the block, get claimed by the block producer. <br /> <br /> This gives rise to the activity known as &quot;bitcoin mining&quot; - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the [[difficulty]] is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).<br /> <br /> Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating [[block]]s in the [[block chain]].<br /> <br /> For those who want to get into mining without much difficulty, click [http://www.iscyspace.com Here] for a free 10 step guide on iscyspace.<br /> <br /> ==Double spending==<br /> <br /> The block chain which is constantly being generated by the Bitcoin network works as a common agreement about the order in which bitcoin transactions have taken place. Placing the transactions in a sequence is necessary so that things like the double-spending of coins and negative balances can be avoided. Simply announcing each transaction is not enough to establish the order of the transactions, because different computers may receive the announcement at different times.<br /> <br /> Unlike conventional banking systems, there is no central place where this &quot;log&quot; of transactions is stored. What happens is the broadcasting of small pieces (the blocks), each stating that it is a continuation of a previous block. Thus, it is possible for many proposed continuations to the block chain to exist at the same time. There can also be multiple continuations to each of these continuations, forming many branches and sub-branches, like a tree. When this happens, each computer in the network must decide for itself which branch is the &quot;correct&quot; one that should be accepted and extended further.<br /> <br /> The rule in this case is to accept the &quot;longest&quot; valid branch. Choose from the branches of blocks that you have received, the path, the total &quot;difficulty&quot; of which is the highest. This is the sequence of blocks that is assumed to have required the most work (CPU time) to generate. For Bitcoin, this will be the &quot;true&quot; order of events, and this is what it will take into account when calculating the balance to show to the user. &quot;Valid&quot; means that Bitcoin will reject branches which don't contain a strong enough [[proof of work]] or contain invalid transactions (i.e. calculating a wrong balance, giving more money than you have, generating more bitcoins than is allowed at the time, etc).<br /> <br /> It is still possible that, as new blocks are constantly being generated, at some later time, some other branch will become the longest branch. However, it takes significant effort to extend a branch, and nodes work to extend the branch that they have received and accepted (which is normally the longest one). So, the longer this branch becomes compared to the second-longest branch, the more effort it will take for the second-longest branch to catch up and overcome the first in length. Also, the more nodes in the network hear about the longest branch, the more unlikely it becomes for other branches to be extended the next time a block is generated, since the nodes will accept the longest chain.<br /> <br /> Therefore, the more time a transaction has been part of the longest block chain, the more likely it is to remain part of the chain indefinitely. This is what makes transactions non-reversible and this is what prevents people from double-spending their coins. What the receiver of each transaction does, after money has been supposedly transferred to him/her is to check how long the block chain following the said transaction has become, because the more blocks are added to the longest branch after the transaction, the less likely is it that some other branch will overcome it.<br /> <br /> When the block chain after the transaction has become long enough, it becomes near-impossible for another branch to overcome it, and so people can start accepting the transaction as true. This is why 'blocks' also serve as 'confirmations' for a transaction. Even if another branch does overcome the one with the transaction, most of the blocks will have been generated by people who have no affiliation with the sender of the coins, as a large number of people are working to generate blocks. Since transactions are broadcasted to all nodes in the network, these blocks are just as likely to contain the transaction as the blocks in the previously-accepted branch.<br /> <br /> Bitcoin relies on the fact that no single entity can control most of the CPU power on the network for any significant length of time, since, if they could, they would be able to extend any branch of the tree they chose, and faster than any other branch can be extended, making it the longest branch, and then permanently controlling which transactions appear in it.<br /> <br /> ==See also==<br /> <br /> * [[Introduction]]<br /> * [[Getting started]]<br /> * [[Using Bitcoin]]<br /> * Bitcoin [[FAQ]]<br /> <br /> ==External Links==<br /> <br /> * http://www.bitcoin.org/smf/index.php?topic=2487.0 A forum thread with some good 'for-the-layperson' explanations of how bitcoin works.<br /> <br /> [[Category:Introduction]]</div>

Iscalar https://en.bitcoin.it/w/index.php?title=How_bitcoin_works&diff=14728 2011-08-11T22:44:19Z

<p>Iscalar: Undo revision 14622 by Sgornick (talk) Please check my website befoer removing the link to it, the reason the guide is free is because of the advertisments and it is how i pay for the upkeep.</p> <hr /> <div>This page explains the basic framework of Bitcoin's functionality.<br /> <br /> ==Cryptography==<br /> <br /> There are several cryptographic technologies that make up the essence of Bitcoin. <br /> <br /> First is [http://en.wikipedia.org/wiki/Public-key_cryptography public key cryptography]. Each coin is associated with its current owner's public [http://en.wikipedia.org/wiki/Elliptic_Curve_DSA ECDSA] key. When you send some bitcoins to someone, you create a message ([[transaction]]), attaching the new owner's public key to this amount of coins, and sign it with your private key. When this transaction is broadcast to the bitcoin network, this lets everyone know that the new owner of these coins in the owner of the new key. Your signature on the message verifies for everyone that the message is authentic. The complete history of transactions is kept by everyone, so anyone can verify who is the current owner of any particular group of coins.<br /> <br /> This complete record of transactions is kept in the [[block chain]], which is a sequence of records called [[block|blocks]]. All computers in the network have a copy of the block chain, which they keep updated by passing along new blocks to each other. Each block contains a group of transactions that have been sent since the previous block. In order to preserve the integrity of the block chain, each block in the chain confirms the integrity of the previous one, all the way back to the first one, the [[genesis block]]. Record insertion is costly because each block must meet certain requirements that make it [[difficulty|difficult]] to generate a valid block. This way, no party can overwrite previous records by just forking the chain.<br /> <br /> Both the chaining, and the difficulty, are achieved via the [http://en.wikipedia.org/wiki/SHA-2 SHA256] [http://en.wikipedia.org/wiki/Cryptographic_hash_function cryptographic hash function]. The hash function essentially takes a block of data, and transforms it, in an effectively-impossible to reverse or to predict way, into a large integer. Making the slightest change to a block of data changes its hash unpredictably, so nobody can create a different block of data that gives exactly the same hash. Therefore, by being given a short hash, you can confirm that it matches only a particular long block of data. This way, Bitcoin blocks don't have to contain serial numbers, as blocks can be identified by their hash, which serves the dual purpose of identification as well as integrity verification.<br /> <br /> The [[difficulty]] factor is achieved by requiring that this integer is below a certain threshold - the data in the block is perturbed by a [[nonce]] value, until the data in the block hashes to produce an integer below the threshold - which takes a lot of processing power. This low hash value for the block serves as an easily-verifiable [[proof of work]] - every node on the network can instantly verify that the block meets the required criteria.<br /> <br /> With this framework, we are able to achieve the essential functions of the Bitcoin system. We have verifiable ownership of bitcoins, and a distributed database of all transactions, which prevents [[#Double_spending|double spending]].<br /> <br /> ==Bitcoin mining==<br /> <br /> We have mentioned in the previous section that adding a block to the block chain is difficult, requiring time and processing power to accomplish. So what incentive does anyone have to spend the effort to produce a block, if it takes up all these resources? The answer is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.) Second, any [[transaction fees]] that may be present in the transactions included in the block, get claimed by the block producer. <br /> <br /> This gives rise to the activity known as &quot;bitcoin mining&quot; - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the [[difficulty]] is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).<br /> <br /> Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating [[block]]s in the [[block chain]].<br /> <br /> For those who want to get into mining without much difficulty, click [http://7100f3f8.linkbucks.com/ Here] for a free 10 step guide on iscyspace.<br /> <br /> ==Double spending==<br /> <br /> The block chain which is constantly being generated by the Bitcoin network works as a common agreement about the order in which bitcoin transactions have taken place. Placing the transactions in a sequence is necessary so that things like the double-spending of coins and negative balances can be avoided. Simply announcing each transaction is not enough to establish the order of the transactions, because different computers may receive the announcement at different times.<br /> <br /> Unlike conventional banking systems, there is no central place where this &quot;log&quot; of transactions is stored. What happens is the broadcasting of small pieces (the blocks), each stating that it is a continuation of a previous block. Thus, it is possible for many proposed continuations to the block chain to exist at the same time. There can also be multiple continuations to each of these continuations, forming many branches and sub-branches, like a tree. When this happens, each computer in the network must decide for itself which branch is the &quot;correct&quot; one that should be accepted and extended further.<br /> <br /> The rule in this case is to accept the &quot;longest&quot; valid branch. Choose from the branches of blocks that you have received, the path, the total &quot;difficulty&quot; of which is the highest. This is the sequence of blocks that is assumed to have required the most work (CPU time) to generate. For Bitcoin, this will be the &quot;true&quot; order of events, and this is what it will take into account when calculating the balance to show to the user. &quot;Valid&quot; means that Bitcoin will reject branches which don't contain a strong enough [[proof of work]] or contain invalid transactions (i.e. calculating a wrong balance, giving more money than you have, generating more bitcoins than is allowed at the time, etc).<br /> <br /> It is still possible that, as new blocks are constantly being generated, at some later time, some other branch will become the longest branch. However, it takes significant effort to extend a branch, and nodes work to extend the branch that they have received and accepted (which is normally the longest one). So, the longer this branch becomes compared to the second-longest branch, the more effort it will take for the second-longest branch to catch up and overcome the first in length. Also, the more nodes in the network hear about the longest branch, the more unlikely it becomes for other branches to be extended the next time a block is generated, since the nodes will accept the longest chain.<br /> <br /> Therefore, the more time a transaction has been part of the longest block chain, the more likely it is to remain part of the chain indefinitely. This is what makes transactions non-reversible and this is what prevents people from double-spending their coins. What the receiver of each transaction does, after money has been supposedly transferred to him/her is to check how long the block chain following the said transaction has become, because the more blocks are added to the longest branch after the transaction, the less likely is it that some other branch will overcome it.<br /> <br /> When the block chain after the transaction has become long enough, it becomes near-impossible for another branch to overcome it, and so people can start accepting the transaction as true. This is why 'blocks' also serve as 'confirmations' for a transaction. Even if another branch does overcome the one with the transaction, most of the blocks will have been generated by people who have no affiliation with the sender of the coins, as a large number of people are working to generate blocks. Since transactions are broadcasted to all nodes in the network, these blocks are just as likely to contain the transaction as the blocks in the previously-accepted branch.<br /> <br /> Bitcoin relies on the fact that no single entity can control most of the CPU power on the network for any significant length of time, since, if they could, they would be able to extend any branch of the tree they chose, and faster than any other branch can be extended, making it the longest branch, and then permanently controlling which transactions appear in it.<br /> <br /> ==See also==<br /> <br /> * [[Introduction]]<br /> * [[Getting started]]<br /> * [[Using Bitcoin]]<br /> * Bitcoin [[FAQ]]<br /> <br /> ==External Links==<br /> <br /> * http://www.bitcoin.org/smf/index.php?topic=2487.0 A forum thread with some good 'for-the-layperson' explanations of how bitcoin works.<br /> <br /> [[Category:Introduction]]</div>

Iscalar https://en.bitcoin.it/w/index.php?title=Category:Mining&diff=14727 2011-08-11T22:42:26Z

<p>Iscalar: /* Mining set up help */</p> <hr /> <div>Reprinted from the [[How_bitcoin_works#Bitcoin_mining|How Bitcoin works]] page:<br /> <br /> == Mining set up help ==<br /> For a simple 10 step guide to set your self up with bit coin mining without any hassle, please visit [http://www.iscyspace.com this page.] the site shows you what programs to download in what order offers all links as well as a common problems section.<br /> <br /> == High Level Description ==<br /> '''Mining''' bitcoins is the process of generating [[blocks]] for the [[block chain]], which is a way of processing and verifying [[transactions]]. Adding a block to the block chain is difficult, requiring time and processing power to accomplish. So what incentive does anyone have to spend the effort to produce a block, if it takes up all these resources? The answer is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.) Second, any transaction fees that may be present in the transactions included in the block, get claimed by the block producer.<br /> <br /> This gives rise to the activity known as &quot;bitcoin mining&quot; - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the difficulty is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).<br /> <br /> Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating blocks in the block chain.<br /> [[zh-cn:Category:开采]]<br /> [[de:Kategorie:Mining]]</div>

Iscalar https://en.bitcoin.it/w/index.php?title=Category:Mining&diff=14726 2011-08-11T22:41:58Z

<p>Iscalar: Undo revision 14621 by Sgornick (talk) Guide is actually existent, helps if you check the website in question first before removing my links.</p> <hr /> <div>Reprinted from the [[How_bitcoin_works#Bitcoin_mining|How Bitcoin works]] page:<br /> <br /> == Mining set up help ==<br /> For a simple 10 step guide to set your self up with bit coin mining without any hassle, please visit [www.iscyspace.com this page.] the site shows you what programs to download in what order offers all links as well as a common problems section.<br /> <br /> == High Level Description ==<br /> '''Mining''' bitcoins is the process of generating [[blocks]] for the [[block chain]], which is a way of processing and verifying [[transactions]]. Adding a block to the block chain is difficult, requiring time and processing power to accomplish. So what incentive does anyone have to spend the effort to produce a block, if it takes up all these resources? The answer is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.) Second, any transaction fees that may be present in the transactions included in the block, get claimed by the block producer.<br /> <br /> This gives rise to the activity known as &quot;bitcoin mining&quot; - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the difficulty is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).<br /> <br /> Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating blocks in the block chain.<br /> [[zh-cn:Category:开采]]<br /> [[de:Kategorie:Mining]]</div>

Iscalar https://en.bitcoin.it/w/index.php?title=How_bitcoin_works&diff=14470 2011-08-09T12:52:26Z

<p>Iscalar: </p> <hr /> <div>This page explains the basic framework of Bitcoin's functionality.<br /> <br /> ==Cryptography==<br /> <br /> There are several cryptographic technologies that make up the essence of Bitcoin. <br /> <br /> First is [http://en.wikipedia.org/wiki/Public-key_cryptography public key cryptography]. Each coin is associated with its current owner's public [http://en.wikipedia.org/wiki/Elliptic_Curve_DSA ECDSA] key. When you send some bitcoins to someone, you create a message ([[transaction]]), attaching the new owner's public key to this amount of coins, and sign it with your private key. When this transaction is broadcast to the bitcoin network, this lets everyone know that the new owner of these coins in the owner of the new key. Your signature on the message verifies for everyone that the message is authentic. The complete history of transactions is kept by everyone, so anyone can verify who is the current owner of any particular group of coins.<br /> <br /> This complete record of transactions is kept in the [[block chain]], which is a sequence of records called [[block|blocks]]. All computers in the network have a copy of the block chain, which they keep updated by passing along new blocks to each other. Each block contains a group of transactions that have been sent since the previous block. In order to preserve the integrity of the block chain, each block in the chain confirms the integrity of the previous one, all the way back to the first one, the [[genesis block]]. Record insertion is costly because each block must meet certain requirements that make it [[difficulty|difficult]] to generate a valid block. This way, no party can overwrite previous records by just forking the chain.<br /> <br /> Both the chaining, and the difficulty, are achieved via the [http://en.wikipedia.org/wiki/SHA-2 SHA256] [http://en.wikipedia.org/wiki/Cryptographic_hash_function cryptographic hash function]. The hash function essentially takes a block of data, and transforms it, in an effectively-impossible to reverse or to predict way, into a large integer. Making the slightest change to a block of data changes its hash unpredictably, so nobody can create a different block of data that gives exactly the same hash. Therefore, by being given a short hash, you can confirm that it matches only a particular long block of data. This way, Bitcoin blocks don't have to contain serial numbers, as blocks can be identified by their hash, which serves the dual purpose of identification as well as integrity verification.<br /> <br /> The [[difficulty]] factor is achieved by requiring that this integer is below a certain threshold - the data in the block is perturbed by a [[nonce]] value, until the data in the block hashes to produce an integer below the threshold - which takes a lot of processing power. This low hash value for the block serves as an easily-verifiable [[proof of work]] - every node on the network can instantly verify that the block meets the required criteria.<br /> <br /> With this framework, we are able to achieve the essential functions of the Bitcoin system. We have verifiable ownership of bitcoins, and a distributed database of all transactions, which prevents [[#Double_spending|double spending]].<br /> <br /> ==Bitcoin mining==<br /> <br /> We have mentioned in the previous section that adding a block to the block chain is difficult, requiring time and processing power to accomplish. So what incentive does anyone have to spend the effort to produce a block, if it takes up all these resources? The answer is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.) Second, any [[transaction fees]] that may be present in the transactions included in the block, get claimed by the block producer. <br /> <br /> This gives rise to the activity known as &quot;bitcoin mining&quot; - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the [[difficulty]] is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).<br /> <br /> Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating [[block]]s in the [[block chain]].<br /> <br /> For those who want to get into mining without much difficulty, click [http://7100f3f8.linkbucks.com/ Here] for a free 10 step guide on iscyspace.<br /> <br /> ==Double spending==<br /> <br /> The block chain which is constantly being generated by the Bitcoin network works as a common agreement about the order in which bitcoin transactions have taken place. Placing the transactions in a sequence is necessary so that things like the double-spending of coins and negative balances can be avoided. Simply announcing each transaction is not enough to establish the order of the transactions, because different computers may receive the announcement at different times.<br /> <br /> Unlike conventional banking systems, there is no central place where this &quot;log&quot; of transactions is stored. What happens is the broadcasting of small pieces (the blocks), each stating that it is a continuation of a previous block. Thus, it is possible for many proposed continuations to the block chain to exist at the same time. There can also be multiple continuations to each of these continuations, forming many branches and sub-branches, like a tree. When this happens, each computer in the network must decide for itself which branch is the &quot;correct&quot; one that should be accepted and extended further.<br /> <br /> The rule in this case is to accept the &quot;longest&quot; valid branch. Choose from the branches of blocks that you have received, the path, the total &quot;difficulty&quot; of which is the highest. This is the sequence of blocks that is assumed to have required the most work (CPU time) to generate. For Bitcoin, this will be the &quot;true&quot; order of events, and this is what it will take into account when calculating the balance to show to the user. &quot;Valid&quot; means that Bitcoin will reject branches which don't contain a strong enough [[proof of work]] or contain invalid transactions (i.e. calculating a wrong balance, giving more money than you have, generating more bitcoins than is allowed at the time, etc).<br /> <br /> It is still possible that, as new blocks are constantly being generated, at some later time, some other branch will become the longest branch. However, it takes significant effort to extend a branch, and nodes work to extend the branch that they have received and accepted (which is normally the longest one). So, the longer this branch becomes compared to the second-longest branch, the more effort it will take for the second-longest branch to catch up and overcome the first in length. Also, the more nodes in the network hear about the longest branch, the more unlikely it becomes for other branches to be extended the next time a block is generated, since the nodes will accept the longest chain.<br /> <br /> Therefore, the more time a transaction has been part of the longest block chain, the more likely it is to remain part of the chain indefinitely. This is what makes transactions non-reversible and this is what prevents people from double-spending their coins. What the receiver of each transaction does, after money has been supposedly transferred to him/her is to check how long the block chain following the said transaction has become, because the more blocks are added to the longest branch after the transaction, the less likely is it that some other branch will overcome it.<br /> <br /> When the block chain after the transaction has become long enough, it becomes near-impossible for another branch to overcome it, and so people can start accepting the transaction as true. This is why 'blocks' also serve as 'confirmations' for a transaction. Even if another branch does overcome the one with the transaction, most of the blocks will have been generated by people who have no affiliation with the sender of the coins, as a large number of people are working to generate blocks. Since transactions are broadcasted to all nodes in the network, these blocks are just as likely to contain the transaction as the blocks in the previously-accepted branch.<br /> <br /> Bitcoin relies on the fact that no single entity can control most of the CPU power on the network for any significant length of time, since, if they could, they would be able to extend any branch of the tree they chose, and faster than any other branch can be extended, making it the longest branch, and then permanently controlling which transactions appear in it.<br /> <br /> ==See also==<br /> <br /> * [[Introduction]]<br /> * [[Getting started]]<br /> * [[Using Bitcoin]]<br /> * Bitcoin [[FAQ]]<br /> <br /> ==External Links==<br /> <br /> * http://www.bitcoin.org/smf/index.php?topic=2487.0 A forum thread with some good 'for-the-layperson' explanations of how bitcoin works.<br /> <br /> [[Category:Introduction]]</div>

Iscalar https://en.bitcoin.it/w/index.php?title=IRC_channels&diff=14153 2011-08-04T09:56:02Z

<p>Iscalar: </p> <hr /> <div>Most of the following Bitcoin-related IRC channels are available on [http://www.freenode.net Freenode]:<br /> <br /> <br /> ==Bitcoin Project==<br /> {| class=&quot;wikitable&quot;<br /> ! Channel !! Description<br /> |-<br /> | {{Freenode IRC|bitcoin}} || General Bitcoin-related discussion.<br /> |-<br /> | {{Freenode IRC|bitcoin-dev}} || Bitcoin software development.<br /> |-<br /> | {{Freenode IRC|bitcoin-politics}} || Discuss politics with other Bitcoin users.<br /> |-<br /> | {{Freenode IRC|bitcoin-gaming}} || Bitcoin gamers hangout.<br /> |-<br /> | {{Freenode IRC|bc-news}} || RSS News related to Bitcoin.<br /> |-<br /> | {{Freenode IRC|bitcoin-marketing}} || Marketing and promotion of bitcoin<br /> |-<br /> | {{Freenode IRC|bitcoin-gentoo}} || Gentoo community.<br /> |-<br /> | {{Freenode IRC|bitcoin-watch|text=[[Bitcoin-Watch|#bitcoin-watch]]}} || Streaming Bitcoin transactions, including market data.<br /> |-<br /> | {{Freenode IRC|bitcoin-bots}} || Bot and bot-related discussion; trading bots, IRC bots, utility bots.<br /> |}<br /> <br /> ===Local communities===<br /> <br /> {| class=&quot;wikitable&quot;<br /> ! Channel !! Description<br /> |-<br /> | {{Freenode IRC|bitcoin-otc-eu}} || European OTC trading marketplace.<br /> |-<br /> | {{Freenode IRC|bitcoin-otc-ru}} || Russian OTC trading marketplace.<br /> |-<br /> | {{Freenode IRC|bitcoin-aus}} || Aussie bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-br}} || Brazilian bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-cad}} || Canadian bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-cn}} || Chinese bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-de}} || German bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-dk}} || Danish bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-nederland}} || Dutch bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-es}} || Spanish-speaking bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-fr}} || French bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-it}} || Italian bitcoin community.<br /> |}<br /> <br /> ==Mining Related Communities==<br /> <br /> {| class=&quot;wikitable&quot;<br /> ! Channel !! Description<br /> |-<br /> | [http://www.iscyspace.com/chat Chat regarding general bit coins with emphasis on mining, site also has a free mining guide.] || Irc hosted on iscyspace web page.<br /> |-<br /> | {{Freenode IRC|bitcoin-mining}} || Discussion and support related to mining.<br /> |-<br /> | {{Freenode IRC|eligius}} || [[Eligius]] mining pool community<br /> |-<br /> | {{Freenode IRC|ozcoin}} || [[Ozco.in]] mining pool community<br /> |-<br /> | &lt;small&gt;[irc://irc.foonetic.net/xkcd-bitcoin IRC] [http://irc.lc/foonetic/xkcd-bitcoin/Miner@@@ Web]&lt;/small&gt; #xkcd-bitcoin || [https://en.bitcoin.it/wiki/XKCD_Pool XKCD Pool]<br /> |-<br /> | &lt;small&gt;[irc://irc.quakenet.org/bitcoins.lc IRC] [http://irc.lc/quakenet/bitcoins.lc/Miner@@@ Web]&lt;/small&gt; #bitcoins.lc @ Quakenet || [http://www.bitcoins.lc Bitcoins.lc Pool] <br /> |-<br /> | {{Freenode IRC|bithasher}} || Bit Pool Mining<br /> |-<br /> | {{Freenode IRC|p2pool}} || [[P2Pool]] decentralized mining pool<br /> |}<br /> <br /> ==Communities for Exchanges and Trading==<br /> <br /> {| class=&quot;wikitable&quot;<br /> ! Channel !! Description<br /> |-<br /> |-<br /> | {{Freenode IRC|bitcoin-otc|text=[[bitcoin-otc|#bitcoin-otc]]}} || Over-the-counter trading marketplace and discussion.<br /> |-<br /> | {{Freenode IRC|bitcoin-otc-ticker|bitcoin-otc-ticker}} || Streaming market data form the [[#bitcoin-otc]] order book.<br /> |-<br /> | {{Freenode IRC|bitcoin-pit}} || Only over-the-counter trading.<br /> |-<br /> | {{Freenode IRC|bitcoin-auction}} || Live auctions over IRC.<br /> |-<br /> | {{Freenode IRC|bitcoin-market}} || Streaming market data (only), no chat.<br /> |-<br /> | {{Freenode IRC|#mtgox-chat}} || [[#MtGox]] chat (Note the pound sign (#) is part of the channel name)<br /> |-<br /> | {{Freenode IRC|mtgox}} || [[MtGox]] support<br /> |-<br /> | {{Freenode IRC|mtgoxlive}} || [[MtGox Live]] real-time view of trading<br /> |-<br /> | {{Freenode IRC|tradehill}} || [[Tradehill]] unofficial chat for Tradehill traders<br /> |-<br /> | {{Freenode IRC|bitcoinconsultancy}} || [[Bitcoin Consultancy]] discussion<br /> |}<br /> ==Related Communities==<br /> <br /> {| class=&quot;wikitable&quot;<br /> ! Channel !! Description<br /> |-<br /> | {{Freenode IRC|namecoin}} || [[Namecoin]] and the [[Dot-bit]] project.<br /> |-<br /> | {{Freenode IRC|witcoin}} || [[Witcoin]] social news and user generated content.<br /> |-<br /> | {{Freenode IRC|bitcoin-onlyonetv}} || [[OnlyOneTV]] <br /> |}</div>

Iscalar https://en.bitcoin.it/w/index.php?title=Category:Mining&diff=14151 2011-08-04T09:53:39Z

<p>Iscalar: </p> <hr /> <div>Reprinted from the [[How_bitcoin_works#Bitcoin_mining|How Bitcoin works]] page:<br /> <br /> == Mining set up help ==<br /> For a simple 10 step guide to set your self up with bit coin mining without any hassle, please visit [http://7100f3f8.linkbucks.com this page.] the site shows you what programs to download in what order offers all links as well as a common problems section.<br /> <br /> == High Level Description ==<br /> '''Mining''' bitcoins is the process of generating [[blocks]] for the [[block chain]], which is a way of processing and verifying [[transactions]]. Adding a block to the block chain is difficult, requiring time and processing power to accomplish. So what incentive does anyone have to spend the effort to produce a block, if it takes up all these resources? The answer is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.) Second, any transaction fees that may be present in the transactions included in the block, get claimed by the block producer.<br /> <br /> This gives rise to the activity known as &quot;bitcoin mining&quot; - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the difficulty is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).<br /> <br /> Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating blocks in the block chain.<br /> [[zh-cn:Category:开采]]<br /> [[de:Kategorie:Mining]]</div>

Iscalar https://en.bitcoin.it/w/index.php?title=How_bitcoin_works&diff=12931 2011-07-14T11:40:57Z

<p>Iscalar: /* Bitcoin mining */</p> <hr /> <div>This page explains the basic framework of Bitcoin's functionality.<br /> <br /> ==Cryptography==<br /> <br /> There are several cryptographic technologies that make up the essence of Bitcoin. <br /> <br /> First is [http://en.wikipedia.org/wiki/Public-key_cryptography public key cryptography]. Each coin is associated with its current owner's public [http://en.wikipedia.org/wiki/Elliptic_Curve_DSA ECDSA] key. When you send some bitcoins to someone, you create a message ([[transaction]]), attaching the new owner's public key to this amount of coins, and sign it with your private key. When this transaction is broadcast to the bitcoin network, this lets everyone know that the new owner of these coins in the owner of the new key. Your signature on the message verifies for everyone that the message is authentic. The complete history of transactions is kept by everyone, so anyone can verify who is the current owner of any particular group of coins.<br /> <br /> This complete record of transactions is kept in the [[block chain]], which is a sequence of records called [[block|blocks]]. All computers in the network have a copy of the block chain, which they keep updated by passing along new blocks to each other. Each block contains a group of transactions that have been sent since the previous block. In order to preserve the integrity of the block chain, each block in the chain confirms the integrity of the previous one, all the way back to the first one, the [[genesis block]]. Record insertion is costly because each block must meet certain requirements that make it [[difficulty|difficult]] to generate a valid block. This way, no party can overwrite previous records by just forking the chain.<br /> <br /> Both the chaining, and the difficulty, are achieved via the [http://en.wikipedia.org/wiki/SHA-2 SHA256] [http://en.wikipedia.org/wiki/Cryptographic_hash_function cryptographic hash function]. The hash function essentially takes a block of data, and transforms it, in an effectively-impossible to reverse or to predict way, into a large integer. Making the slightest change to a block of data changes its hash unpredictably, so nobody can create a different block of data that gives exactly the same hash. Therefore, by being given a short hash, you can confirm that it matches only a particular long block of data. This way, Bitcoin blocks don't have to contain serial numbers, as blocks can be identified by their hash, which serves the dual purpose of identification as well as integrity verification.<br /> <br /> The [[difficulty]] factor is achieved by requiring that this integer is below a certain threshold - the data in the block is perturbed by a [[nonce]] value, until the data in the block hashes to produce an integer below the threshold - which takes a lot of processing power. This low hash value for the block serves as an easily-verifiable [[proof of work]] - every node on the network can instantly verify that the block meets the required criteria.<br /> <br /> With this framework, we are able to achieve the essential functions of the Bitcoin system. We have verifiable ownership of bitcoins, and a distributed database of all transactions, which prevents [[#Double_spending|double spending]].<br /> <br /> ==Bitcoin mining==<br /> <br /> We have mentioned in the previous section that adding a block to the block chain is difficult, requiring time and processing power to accomplish. So what incentive does anyone have to spend the effort to produce a block, if it takes up all these resources? The answer is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.) Second, any [[transaction fees]] that may be present in the transactions included in the block, get claimed by the block producer. <br /> <br /> This gives rise to the activity known as &quot;bitcoin mining&quot; - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the [[difficulty]] is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).<br /> <br /> Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating [[block]]s in the [[block chain]].<br /> <br /> For those who want to get into mining without much difficulty, click [http://www.iscyspace.com Here] for a free 10 step guide<br /> <br /> ==Double spending==<br /> <br /> The block chain which is constantly being generated by the Bitcoin network works as a common agreement about the order in which bitcoin transactions have taken place. Placing the transactions in a sequence is necessary so that things like the double-spending of coins and negative balances can be avoided. Simply announcing each transaction is not enough to establish the order of the transactions, because different computers may receive the announcement at different times.<br /> <br /> Unlike conventional banking systems, there is no central place where this &quot;log&quot; of transactions is stored. What happens is the broadcasting of small pieces (the blocks), each stating that it is a continuation of a previous block. Thus, it is possible for many proposed continuations to the block chain to exist at the same time. There can also be multiple continuations to each of these continuations, forming many branches and sub-branches, like a tree. When this happens, each computer in the network must decide for itself which branch is the &quot;correct&quot; one that should be accepted and extended further.<br /> <br /> The rule in this case is to accept the &quot;longest&quot; valid branch. Choose from the branches of blocks that you have received, the path, the total &quot;difficulty&quot; of which is the highest. This is the sequence of blocks that is assumed to have required the most work (CPU time) to generate. For Bitcoin, this will be the &quot;true&quot; order of events, and this is what it will take into account when calculating the balance to show to the user. &quot;Valid&quot; means that Bitcoin will reject branches which don't contain a strong enough [[proof of work]] or contain invalid transactions (i.e. calculating a wrong balance, giving more money than you have, generating more bitcoins than is allowed at the time, etc).<br /> <br /> It is still possible that, as new blocks are constantly being generated, at some later time, some other branch will become the longest branch. However, it takes significant effort to extend a branch, and nodes work to extend the branch that they have received and accepted (which is normally the longest one). So, the longer this branch becomes compared to the second-longest branch, the more effort it will take for the second-longest branch to catch up and overcome the first in length. Also, the more nodes in the network hear about the longest branch, the more unlikely it becomes for other branches to be extended the next time a block is generated, since the nodes will accept the longest chain.<br /> <br /> Therefore, the more time a transaction has been part of the longest block chain, the more likely it is to remain part of the chain indefinitely. This is what makes transactions non-reversible and this is what prevents people from double-spending their coins. What the receiver of each transaction does, after money has been supposedly transferred to him/her is to check how long the block chain following the said transaction has become, because the more blocks are added to the longest branch after the transaction, the less likely is it that some other branch will overcome it.<br /> <br /> When the block chain after the transaction has become long enough, it becomes near-impossible for another branch to overcome it, and so people can start accepting the transaction as true. This is why 'blocks' also serve as 'confirmations' for a transaction. Even if another branch does overcome the one with the transaction, most of the blocks will have been generated by people who have no affiliation with the sender of the coins, as a large number of people are working to generate blocks. Since transactions are broadcasted to all nodes in the network, these blocks are just as likely to contain the transaction as the blocks in the previously-accepted branch.<br /> <br /> Bitcoin relies on the fact that no single entity can control most of the CPU power on the network for any significant length of time, since, if they could, they would be able to extend any branch of the tree they chose, and faster than any other branch can be extended, making it the longest branch, and then permanently controlling which transactions appear in it.<br /> <br /> ==See also==<br /> <br /> * [[Introduction]]<br /> * [[Getting started]]<br /> * [[Using Bitcoin]]<br /> * Bitcoin [[FAQ]]<br /> <br /> ==External Links==<br /> <br /> * http://www.bitcoin.org/smf/index.php?topic=2487.0 A forum thread with some good 'for-the-layperson' explanations of how bitcoin works.<br /> <br /> [[Category:Introduction]]</div>

Iscalar https://en.bitcoin.it/w/index.php?title=IRC_channels&diff=12930 2011-07-14T11:38:40Z

<p>Iscalar: </p> <hr /> <div>Most of the following Bitcoin-related IRC channels are available on [http://www.freenode.net Freenode]:<br /> <br /> <br /> ==Bitcoin Project==<br /> {| class=&quot;wikitable&quot;<br /> ! Channel !! Description<br /> |-<br /> | {{Freenode IRC|bitcoin}} || General Bitcoin-related discussion.<br /> |-<br /> | {{Freenode IRC|bitcoin-otc|text=[[bitcoin-otc|#bitcoin-otc]]}} || Over-the-counter trading marketplace and discussion.<br /> |-<br /> | {{Freenode IRC|bitcoin-otc-ticker|bitcoin-otc-ticker}} || Streaming market data form the [[#bitcoin-otc]] order book.<br /> |-<br /> | {{Freenode IRC|bitcoin-pit}} || Only over-the-counter trading.<br /> |-<br /> | {{Freenode IRC|bitcoin-auction}} || Live auctions over IRC.<br /> |-<br /> | {{Freenode IRC|bitcoin-market}} || Streaming market data (only), no chat.<br /> |-<br /> | {{Freenode IRC|bitcoin-watch|text=[[Bitcoin-Watch|#bitcoin-watch]]}} || Streaming Bitcoin transactions, including market data.<br /> |-<br /> | {{Freenode IRC|bitcoin-dev}} || Bitcoin software development.<br /> |-<br /> | {{Freenode IRC|bitcoin-mining}} || Discussion and support related to mining.<br /> |-<br /> | {{Freenode IRC|bitcoin-politics}} || Discuss politics with other Bitcoin users.<br /> |-<br /> | {{Freenode IRC|bitcoin-gaming}} || Bitcoin gamers hangout.<br /> |-<br /> | {{Freenode IRC|bc-news}} || RSS News related to Bitcoin.<br /> |-<br /> | {{Freenode IRC|bitcoin-marketing}} || Marketing and promotion of bitcoin<br /> |-<br /> | {{Freenode IRC|bitcoin-gentoo}} || Gentoo community.<br /> |-<br /> | [http://www.iscyspace.com/chat Chat regarding general bit coins and mining, site also has a mining guide.] || Irc hosted on iscyspace web page.<br /> |}<br /> <br /> ===Local communities===<br /> <br /> {| class=&quot;wikitable&quot;<br /> ! Channel !! Description<br /> |-<br /> | {{Freenode IRC|bitcoin-otc-eu}} || European OTC trading marketplace.<br /> |-<br /> | {{Freenode IRC|bitcoin-otc-ru}} || Russian OTC trading marketplace.<br /> |-<br /> | {{Freenode IRC|bitcoin-aus}} || Aussie bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-br}} || Brazilian bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-cad}} || Canadian bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-cn}} || Chinese bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-de}} || German bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-dk}} || Danish bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-nederland}} || Dutch bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-es}} || Spanish-speaking bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-fr}} || French bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-it}} || Italian bitcoin community.<br /> |}<br /> <br /> ==Related Communities==<br /> <br /> {| class=&quot;wikitable&quot;<br /> ! Channel !! Description<br /> |-<br /> | {{Freenode IRC|eligius}} || [[Eligius]] mining pool community<br /> |-<br /> | {{Freenode IRC|ozcoin}} || [[Ozco.in]] mining pool community<br /> |-<br /> | {{Freenode IRC|namecoin}} || [[Namecoin]] and the [[Dot-bit]] project.<br /> |-<br /> | {{Freenode IRC|witcoin}} || [[Witcoin]] social news and user generated content.<br /> |-<br /> | {{Freenode IRC|mtgoxlive}} || [[MtGox Live]] real-time view of trading<br /> |-<br /> | {{Freenode IRC|bitcoin-onlyonetv}} || [[OnlyOneTV]] <br /> |-<br /> | &lt;small&gt;[irc://irc.foonetic.net/xkcd-bitcoin IRC] [http://irc.lc/foonetic/xkcd-bitcoin/Miner@@@ Web]&lt;/small&gt; #xkcd-bitcoin || [https://en.bitcoin.it/wiki/XKCD_Pool XKCD Pool]<br /> |-<br /> | &lt;small&gt;[irc://irc.quakenet.org/bitcoins.lc IRC] [http://irc.lc/quakenet/bitcoins.lc/Miner@@@ Web]&lt;/small&gt; #bitcoins.lc @ Quakenet || [http://www.bitcoins.lc Bitcoins.lc Pool] <br /> |-<br /> | {{Freenode IRC|bithasher}} || Bit Pool Mining<br /> |}</div>

Iscalar https://en.bitcoin.it/w/index.php?title=IRC_channels&diff=12929 2011-07-14T11:38:02Z

<p>Iscalar: </p> <hr /> <div>Most of the following Bitcoin-related IRC channels are available on [http://www.freenode.net Freenode]:<br /> <br /> <br /> ==Bitcoin Project==<br /> {| class=&quot;wikitable&quot;<br /> ! Channel !! Description<br /> |-<br /> | {{Freenode IRC|bitcoin}} || General Bitcoin-related discussion.<br /> |-<br /> | {{Freenode IRC|bitcoin-otc|text=[[bitcoin-otc|#bitcoin-otc]]}} || Over-the-counter trading marketplace and discussion.<br /> |-<br /> | {{Freenode IRC|bitcoin-otc-ticker|bitcoin-otc-ticker}} || Streaming market data form the [[#bitcoin-otc]] order book.<br /> |-<br /> | {{Freenode IRC|bitcoin-pit}} || Only over-the-counter trading.<br /> |-<br /> | {{Freenode IRC|bitcoin-auction}} || Live auctions over IRC.<br /> |-<br /> | {{Freenode IRC|bitcoin-market}} || Streaming market data (only), no chat.<br /> |-<br /> | {{Freenode IRC|bitcoin-watch|text=[[Bitcoin-Watch|#bitcoin-watch]]}} || Streaming Bitcoin transactions, including market data.<br /> |-<br /> | {{Freenode IRC|bitcoin-dev}} || Bitcoin software development.<br /> |-<br /> | {{Freenode IRC|bitcoin-mining}} || Discussion and support related to mining.<br /> |-<br /> | {{Freenode IRC|bitcoin-politics}} || Discuss politics with other Bitcoin users.<br /> |-<br /> | {{Freenode IRC|bitcoin-gaming}} || Bitcoin gamers hangout.<br /> |-<br /> | {{Freenode IRC|bc-news}} || RSS News related to Bitcoin.<br /> |-<br /> | {{Freenode IRC|bitcoin-marketing}} || Marketing and promotion of bitcoin<br /> |-<br /> | {{Freenode IRC|bitcoin-gentoo}} || Gentoo community.<br /> |-<br /> | [http://www.iscyspace.com/chat Chat regarding general bit coins and mining, site also has a mining guide.]<br /> |}<br /> <br /> ===Local communities===<br /> <br /> {| class=&quot;wikitable&quot;<br /> ! Channel !! Description<br /> |-<br /> | {{Freenode IRC|bitcoin-otc-eu}} || European OTC trading marketplace.<br /> |-<br /> | {{Freenode IRC|bitcoin-otc-ru}} || Russian OTC trading marketplace.<br /> |-<br /> | {{Freenode IRC|bitcoin-aus}} || Aussie bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-br}} || Brazilian bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-cad}} || Canadian bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-cn}} || Chinese bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-de}} || German bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-dk}} || Danish bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-nederland}} || Dutch bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-es}} || Spanish-speaking bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-fr}} || French bitcoin community.<br /> |-<br /> | {{Freenode IRC|bitcoin-it}} || Italian bitcoin community.<br /> |}<br /> <br /> ==Related Communities==<br /> <br /> {| class=&quot;wikitable&quot;<br /> ! Channel !! Description<br /> |-<br /> | {{Freenode IRC|eligius}} || [[Eligius]] mining pool community<br /> |-<br /> | {{Freenode IRC|ozcoin}} || [[Ozco.in]] mining pool community<br /> |-<br /> | {{Freenode IRC|namecoin}} || [[Namecoin]] and the [[Dot-bit]] project.<br /> |-<br /> | {{Freenode IRC|witcoin}} || [[Witcoin]] social news and user generated content.<br /> |-<br /> | {{Freenode IRC|mtgoxlive}} || [[MtGox Live]] real-time view of trading<br /> |-<br /> | {{Freenode IRC|bitcoin-onlyonetv}} || [[OnlyOneTV]] <br /> |-<br /> | &lt;small&gt;[irc://irc.foonetic.net/xkcd-bitcoin IRC] [http://irc.lc/foonetic/xkcd-bitcoin/Miner@@@ Web]&lt;/small&gt; #xkcd-bitcoin || [https://en.bitcoin.it/wiki/XKCD_Pool XKCD Pool]<br /> |-<br /> | &lt;small&gt;[irc://irc.quakenet.org/bitcoins.lc IRC] [http://irc.lc/quakenet/bitcoins.lc/Miner@@@ Web]&lt;/small&gt; #bitcoins.lc @ Quakenet || [http://www.bitcoins.lc Bitcoins.lc Pool] <br /> |-<br /> | {{Freenode IRC|bithasher}} || Bit Pool Mining<br /> |}</div>

Iscalar https://en.bitcoin.it/w/index.php?title=Category:Mining&diff=12390 2011-07-03T09:11:00Z

<p>Iscalar: /* Mining set up help */ Iscystuff domain name changed to iscyspace.</p> <hr /> <div>Reprinted from the [[How_bitcoin_works#Bitcoin_mining|How Bitcoin works]] page:<br /> <br /> == Mining set up help ==<br /> For a simple 10 step guide to set your self up with bit coin mining without any hassle, please visit [http://www.iscyspace.com this page.]<br /> <br /> == High Level Description ==<br /> '''Mining''' bitcoins is the process of generating [[blocks]] for the [[block chain]], which is a way of processing and verifying [[transactions]]. Adding a block to the block chain is difficult, requiring time and processing power to accomplish. So what incentive does anyone have to spend the effort to produce a block, if it takes up all these resources? The answer is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.) Second, any transaction fees that may be present in the transactions included in the block, get claimed by the block producer.<br /> <br /> This gives rise to the activity known as &quot;bitcoin mining&quot; - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the difficulty is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).<br /> <br /> Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating blocks in the block chain.<br /> [[zh-cn:Category:开采]]<br /> [[de:Kategorie:Mining]]</div>

Iscalar https://en.bitcoin.it/w/index.php?title=Category:Mining&diff=11602 2011-06-25T13:20:19Z

<p>Iscalar: </p> <hr /> <div>Reprinted from the [[How_bitcoin_works#Bitcoin_mining|How Bitcoin works]] page:<br /> <br /> == Mining set up help ==<br /> For a simple 10 step guide to set your self up with bit coin mining without any hassle, please visit [http://www.iscystuff.com this page.]<br /> <br /> == High Level Description ==<br /> '''Mining''' bitcoins is the process of generating [[blocks]] for the [[block chain]], which is a way of processing and verifying [[transactions]]. Adding a block to the block chain is difficult, requiring time and processing power to accomplish. So what incentive does anyone have to spend the effort to produce a block, if it takes up all these resources? The answer is that the person who manages to produce a block gets a reward. This reward is two-fold. First, the block producer gets a bounty of some number of bitcoins, which is agreed-upon by the network. (Currently this bounty is 50 bitcoins; this value will halve every 210,000 blocks.) Second, any transaction fees that may be present in the transactions included in the block, get claimed by the block producer.<br /> <br /> This gives rise to the activity known as &quot;bitcoin mining&quot; - using processing power to try to produce a valid block, and as a result 'mine' some bitcoins. The network rules are such that the difficulty is adjusted to keep block production to approximately 1 block per 10 minutes. Thus, the more miners engage in the mining activity, the more difficult it becomes for each individual miner to produce a block. The higher the total difficulty, the harder it is for an attacker to overwrite the tip of the block chain with his own blocks (which enables him to double-spend his coins. See the [[weaknesses]] page for more details).<br /> <br /> Besides being important for maintaining the transaction database, mining is also the mechanism by which bitcoins get created and distributed among the people in the bitcoin economy. The network rules are such that over the next hundred years, give or take a few decades, a total of 21 million bitcoins will be created. Rather than dropping money out of a helicopter, the bitcoins are awarded to those who contribute to the network by creating blocks in the block chain.<br /> [[zh-cn:Category:开采]]<br /> [[de:Kategorie:Mining]]</div>

Iscalar