Mining Bitcoin with pencil and paper

Gr33nArrow

Gr33nArrow

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A great explanation of SHA-256, recommended viewing for anyone interested in how Bitcoin works and other crypto buffs.


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Bitcoins are mined using a cryptographic algorithm called SHA-256.
This algorithm is simple enough to be done with pencil and paper, as shown in this video.
Not surprisingly, this is a thoroughly impractical way to mine.
One round of the algorithm takes 16 minutes, 45 seconds which works out to a hash rate of 0.67 hashes per day.
 
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If you could figure out a mathematical shortcut to generate successful hashes, you could take over Bitcoin mining
 
Why do we need dedicated mining machines now, that don't have as fast processors as pc's?

Is there that much of an overhead in CPU processing, compared to a miner machine?
 
Aha :D
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So he actually build a new blockchain on paper, and now? this have zero value who verified new hash blocks?
This is not the way you can mine bitcoins or other well known crytocurrencies
 
X-R0 said:
This is not the way you can mine bitcoins or other well known crytocurrencies
Click to expand...

Come on, your not seriously thinking that this is a method are you? its an "explanation" about how the algorithm works.
 
Trying to figure out if you deserve a thank you or not... I feel like Bob Lazar just tried to explain smashing protons with element 51 to charge super magnets for gravitational manipulation.
 
Basically, who can't afford those CPUs and expensive graphic cards from NVIDIA, can do it with the help of this video and just pencil and paper.
 
X-R0 said:
Aha :D
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So he actually build a new blockchain on paper, and now? this have zero value who verified new hash blocks?
This is not the way you can mine bitcoins or other well known crytocurrencies
Click to expand...

Not true. I just followed the instructions and took my paper to the bank. Just cashed in 10 bitcoins.
 
got my first bitcoin with this. highly recommended.
 
mickyfu said:
Not true. I just followed the instructions and took my paper to the bank. Just cashed in 10 bitcoins.
Click to expand...
yep, because banks are from the last century and some of them collecting paperwork in the belief that they can sell them a 100years later on the antiques market.
 
Panther28 said:
Why do we need dedicated mining machines now, that don't have as fast processors as pc's?

Is there that much of an overhead in CPU processing, compared to a miner machine?
Click to expand...

Processor is multi-purpose, where those machines (ASIC - application specific integrated circuit) do just one thing what they are made for and they are made with idea to do it damn good. But they cannot do a damn thing apart that for what are made.
 
Haha wow! All that binary made me hard. Hex adding in his head finished me off.

This is one of the best videos Ive seen for explaining step by step the blockchain and "mining" a valid hash.

and here's a good explanation of SHA hashes.
 
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