4 ms·
that doesn't seem like such a waste to whoever controls the destination address.. ((24 hours) / (10 minutes)) * 50 * (10 usd) = 72000 usd your share is propor
by exit 15y ago
that doesn't seem like such a waste to whoever controls the destination address..
((24 hours) / (10 minutes)) * 50 * (10 usd) = 72000 usd
your share is proportional to your share of the total network hashing power.
- pavel_lishin 15y agoCan you explain your math a bit more? I find it difficult to believe that even a botnet can generate 72k USD equivalent per day.
- Tichy 15y agoHe is right, though - assuming a BitCoin exchange rate of 10$. You can generate at most 50BTC every 10 minutes, or 300BTC per hour. So it is 300x24+10 = 72000.
- sp332 15y agoNope, the entire BTC network makes $72k every day. The larger your botnet, the bigger your share.
- exit 15y agoeach block includes a "blank check" transaction crediting 50 bitcoins to an arbitrary address. every 2016 blocks, the clients look at the rate of block generation and adjusts their difficulty expectation to target 1 block per 10 minutes. your chance of solving a block (and crediting yourself 50 bitcoins) is proportional to your hashing rate. by the way, a miner only has to control above 50% of the hashing power to monopolize bitcoin generation - they can then ignore other block solutions without their branch being orphaned.