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Hey ya'll,

Not sure what to call it, but what was the first "math problem" that a computer had to solve to get a bitcoin ?

EDIT: What did the first SHA-256 look like ? Would I have been solvable by hand?

submitted by itsPXZEL to Bitcoin [link] [comments]
Not sure what to call it, but what was the first "math problem" that a computer had to solve to get a bitcoin ?

EDIT: What did the first SHA-256 look like ? Would I have been solvable by hand?

So I know the Bitcoin network relies on miners solving math problems. Also these problems.get harder as computers get better. But what exactly is this Math problem and how can it get 'magically' harder?

submitted by HammyUK to Bitcoin [link] [comments]
This is completely theoretical, but it's an interesting problem (at least to me).

You control a configurable miner that has a max 1TH/s miner that you will run for the next year. Your goal is to mine a chain as long as possible within one year. You must start at the genesis block. You can choose to have your miner mine at any hashrate up to 1 TH/s for each time period. You may assume that your time between blocks is consistent based on the hash rate and difficulty, and the average time to find a block.

What is the length of the longest chain you can generate after 1 year?

submitted by smartfbrankings to Bitcoin [link] [comments]
You control a configurable miner that has a max 1TH/s miner that you will run for the next year. Your goal is to mine a chain as long as possible within one year. You must start at the genesis block. You can choose to have your miner mine at any hashrate up to 1 TH/s for each time period. You may assume that your time between blocks is consistent based on the hash rate and difficulty, and the average time to find a block.

What is the length of the longest chain you can generate after 1 year?

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i heard bitcoins are created by solving math problems, anyone here know what math problems are being solved for what purpose ? is the math for like scientist and others that are trying to figure out the universe and stuff?

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Download -> Hash(Downloaded File) -> Is Hash The Same?Say you downloaded a copy of Audacity for OSX, and the site says "the MD5 hash for audacity-macosx-ub-2.1.2.dmg is 535e103d9bc4a4625d71260c3a427d09 if you want to check it downloaded properly". So you download the file, head to your command prompt, and:

$ md5 audacity-macosx-ub-2.1.2.dmg MD5 (audacity-macosx-ub-2.1.2.dmg) = 535e103d9bc4a4625d71260c3a427d09Hey, it's the same.

Now, hashes work by taking all the numbers in the file and Doing Something to them; the simplest would, of course, be the checksum: add all the numbers together. One big problem with checksumming though: if you add 1 to a number somewhere in the file, and subtract 1 elsewhere, you get a corrupted file with the same checksum. Not ideal.

So algorithms like MD5, SHA-1 and the like arose, which do more complicated things. The number that falls out of these is quite large: MD5, for example, outputs a 128-bit number (the biggest value is something like 80 quintillion quintillion) but it's not the absolute value of the number that's important, just the fact that it's the same as what the website says it should be.

It's just written in hexadecimal (base 16) instead of base 10. In your average decimal base-10 number, the digits are 0-9 and the number values go units, tens, hundreds, thousands, etc.

In base 16, the digits are 0-9 then a-f (ten to fifteen), and the number values go units, sixteens, two-hundred-and-fifty-sixes, four-thousand-and-ninety-sixes, etc.

Hash of the last block -----\ | Hash of the transactions --+ SHA256 -> This block's hash in this block | (twice) | Current time ----------/And thus the block chain gets built: "this block's hash" falls out of the above algorithm, and gets fed into the algorithm for the next block.

Except SHA-256 doesn't take long to compute; a cellphone can do literally millions of these hashes per second. Here's where the genius of Bitcoin comes in: there's an artificial limit placed by the algorithm on how fast blocks can be generated, and it doesn't matter how fast your computer (or the whole network of computers) is at generating these hashes. It works by adding one thing to the above diagram:

Hash of the last block -----\ | Hash of the transactions --+ SHA256 -> This block's hash in this block | (twice) | Current time ----------+ | A number to twiddle -------/(The technical literature actually calls it a "nonce".)

I said above that the numeric value of the hash isn't important when you download a file, just the fact that it matches what the website says it should be. In Bitcoin, the numeric value of the hash

SHA-256 is very good at making an even distribution of its numeric value: futz with the content of what you're hashing even a tiny bit, and the number that falls out is vastly different. So, you need to do a

In fact, you need to do so much twiddling that, on average, the entire network of computers doing this will only find one solution to the problem every ten minutes. That solution gets broadcast to the network, the other computers will plug it in as "the hash of the last block", and keep going.

Bitcoin has a solution: change the target, to make it even lower. This is referred to as a "change in difficulty", and happens around every two weeks if the blocks come out every ten minutes (every 2,016 blocks). If the blocks come out faster, the difficulty changes sooner, and changes by more, to get things back on the ten-minutes-per-block track.

Conversely, if computers suddenly get very slow at doing this work and blocks only come out once an hour, the difficulty will change to make life easier. (Again, it'll only change every 2,016 blocks, so it might take a while to build the chain up to that point; until then, we'd have to suffer with slow blocks.)

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So I am a bit confused on what Bitcoin mining actually is. I've heard that mining Bitcoin is essentially solving complex math problems which reward the "miner" with Bitcoins. I've also heard Bitcoin mining is the act of processing Bitcoin transactions which make up the blocks in the blockchain.

So if you're mining Bitcoin are you actually processing the transactions? How does mining work on crypto coins that have little to no transactions? How can the miners still receive regular block rewards for mining if there's not enough transactions to fill a block?

submitted by mroth7684 to Bitcoin [link] [comments]
So if you're mining Bitcoin are you actually processing the transactions? How does mining work on crypto coins that have little to no transactions? How can the miners still receive regular block rewards for mining if there's not enough transactions to fill a block?

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This is a purely theoretical question about the design of the technology (disclaimer: I do not know much about tech/engineering or anything). Why is math used to validate transactions on the network? What is the significance of the math itself? Is it just the case that math problems have universal answers and are solved in the same language worldwide (opposed to other languages like English, German, etc that not everyone speaks) and as such math makes for a good code? (If so, couldn't the designers of Bitcoin have made this code something else like problems of formal logic instead of math?) Or, is it the case that math actually does some specific function that only math can do?

TLDR: is the math used to validated transactions: because (a) it is an arbitrary phenomenon that logistically works or (b) because the specific equations actually do something or (c) something else?

submitted by treboy123 to BitcoinBeginners [link] [comments]
TLDR: is the math used to validated transactions: because (a) it is an arbitrary phenomenon that logistically works or (b) because the specific equations actually do something or (c) something else?

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In fact, they are only math problems in the same sense that watching a Youtube video is doing a computation. Miners are checking transactions of other users. The Bitcoin protocol is built in such a way that this process sometimes creates new bitcoins. The creation of new bitcoins is also regulated by the protocol - only 21 million can be ... Introduction. How "mining" works is at the very heart of Bitcoin. It is often brushed over and simply referred to as "complicated math" in the media, but it's actually quite simple to understand even if it is computationally intensive to solve.. Disclaimer. Most of the content in this post comes from a post on Reddit that I have edited, reformatted, and elaborated on. Miners – computers that solve complex math problems to uncover new bitcoins and verify previous bitcoin transactions are legitimate and accurate – would trade Bitcoin back and forth just for fun. As such, it does take some teamwork to make things happen. So it is imperative that you be able to cooperate with people for the purposes of working toward a common goal. When you get to that common goal, you may well discover that your efforts in bitcoin mining will have accomplished a great deal indeed! Just solve problems together! The Math Behind Bitcoin Eric Rykwalder is a software engineer and one of Chain.com ’s founders. Here, he gives an overview of the mathematical foundations of the bitcoin protocol.

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Hopefully, this video helps you understand Bitcoin just a little more too! Thumbs Up if you liked the video! ... The unsolved math problem which could be worth a billion dollars. - Duration: 5:59. In this video I try to breakdown the "cryptographic problem" that people reference when they talk about bitcoin mining. He is the author of two books: “Mastering Bitcoin,” published by O’Reilly Media and considered the best technical guide to bitcoin; “The Internet of Money,” a book about why bitcoin matters. Miners are specialized computers that use special software to solve math problems and are issued a certain number of Bitcoins in exchange for solving each problem. This provides a smart way to ... Bitcoins are mined using a cryptographic algorithm called SHA-256. This algorithm is simple enough to be done with pencil and paper, as I show in this video....