Bitcoin Qu0026A: Iterating Nonces and the Block Reward

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Название	:	Bitcoin Qu0026A: Iterating Nonces and the Block Reward
Продолжительность	:	24.25
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Nik says this is important to understand and that he learned it from you
Comment from : Christopher Writes Prosperity Poems

Your book is a master piece Thank you Greetings from Paraguay
Comment from : Pedro Velazquez

If a miner "writes his own check" as payment, what prevents the miner from rewarding himself a very high reward for mining a block?
Comment from : karich21

I was reading the mastering bitcoin book and got confused about the missing nonce section Didn't realize the author was also a youtuber!
Comment from : adrian14752

this is the best video ive seen explaining these, thank you
Comment from : Alex Vertigo

i dont get how you understand all of this so perfectly I would like to understand it like you
Comment from : Henrich Šúry

Boop
Comment from : Jon Nupe

This answer everything
Comment from : Berargumen

First it made nonce ense to me Now I get it! Thank You!!
Comment from : Dominik Schwarzer

The Nonce, "the number only used once" is only used once for each miner, is this correct? so multiple miners could randomly choose the same nonce?
Comment from : Dieter Henrichs

Isn't this proof of work system highly inefficient
Comment from : Yash Gaikwad

Seems like Andres is a highly prolific blinker, like Gad Saad Very high BPM count :3
Comment from : fsmoura

Thanks for clearing things up!
Comment from : Erizon Macani

Some watching this might wonder: brWhen mining as part of a pool, if a participant finds a nonce that meets the difficulty target, why not just keep the whole reward themselves?brbrThis is is not possible because the block was constructed by the pool itself and has the pool's address in the (payout) coinbase transaction By the time a miner finds a nonce, it is too late to change the coinbase transaction as that would change the hashed data and make the nonce invalid Nice, eh?
Comment from : Jonathan Cross

Smashed the like
Comment from : Anon Anonymous

im convinced ant op is just trolling everyone by using such low quality equipment
Comment from : Tio Semilla

Im korean guythank youantoi like ypu and John mcafeethamk you
Comment from : phoenixeyes

Thank you Great explanation!
Comment from : Gregorious McBurgendy

That was very well done I learned a lot! I can't wait to tell my friends
Comment from : mickhick95

18:06 The chances, for a single throw of the dice, of throwing below 9 are NOT the same as the chances of throwing below 5 That is the whole point of having a pool difficulty lower than the network difficulty Andreas clearly knows this and just misspoke, but it might confuse people Part of the genius, possibly unintended, of proof of work is this ability to create a mining pool that does not trust any of its workers to tell the truth If a miner is mining in a pool, when the miner finds a nonce that produces a hash below the pool target, the miner submits that nonce to the pool The pool verifies that in fact that nonce produces a hash below the pool target when used in the candidate block header, and credits the miner accordingly Essentially, the miners are producing "proof of pool work" that they submit to the pool, and eventually one of those "proof of pool work" submissions is also good enough to be a "proof of work" for the larger network I think this was incredibly important in terms of helping bitcoin become established, and it is a critical reason why mining is not as centralized as many think
Comment from : Henry Berg

The probability of finding a nounce increases, because you wouldn't repeat a nounce
Comment from : Kenneth Stauffer

Excellent explanations as always -- Its great to hear such a straightforward discussion on these details Thanks Andreas
Comment from : GriffBroChill

Both adding numbers and shifting/shuffling bits are linear operations, without enough non-linear substitution ciphers it would be trivial to do cryptanalysis on the function (just look at Iota :) ) and be able to reverse it
Comment from : Adam Ritter

Okay, my comment is wired but: i used to listen to hours of your MOOCs and other lectrues when they just started and (re)play Morrowind while at itbrI've listened to you talking about nonces, hashes and other topics a million times, but in these vids i see you sitting in a room with a very Morrowind-esque art and interior design behind you, which MY GOSH feels so spot on!
Comment from : Lynx Rogers