1st Gen Lunchtable Thread - General Discussion

Great attitude..your kicking ass..keep it up ..good job brother.

 

In other news, my one and only fellow co-worker is out sick today so I have 400 sq. ft of office space all to myself today and no one around to tell me to do anything.

unfortunately though, I have a shit ton to do

 

You basically use computers, specifically several arrays of GPU's (Graphical Processing Units) to perform calculations.

The Big Picture

Mining increases the bitcoin network's security and fights fraud by calculating what's effectively a checksum for transactions. By contributing their computing power to the bitcoin network for mining, individuals are rewarded with newly minted bitcoins by the community. This also provides a way to distribute new bitcoins in a fair manner.

The Details

Hash functions are at the heart of mining. A hash function is basically a complicated math formula that takes in some arbitrary input and gives a reproducible output. However, changing the input even slightly will completely alter the output. For example, using the SHA-256 hash function:

SHA-256 of "Test" always outputs a hash of "532eaabd9574880dbf76b9b8cc00832c20a6ec113d682299550d7a6e0f345e25"
SHA-256 of "test" (lowercase t) is "9f86d081884c7d659a2feaa0c55ad015a3bf4f1b2b0b822cd15d6c15b0f00a08"

Now, let's say Alice decides to pay Bob 10BTC. The bitcoin network basically records that in the public ledger of transactions as "Alice -> 10 -> Bob". However, right now someone could change that 10 to a 20 without consequence. The network has to have some way of checking if the recorded transaction is valid or fraudulent. That's where mining comes in.

When Alice pays Bob those 10BTC, miners in the bitcoin network will try to hash the transaction "Alice -> 10 -> Bob", resulting in "aa314e08a642f5be3857276ecb4a4085a33b916f84aebef32a077df9c29949b3". However, mining has a requirement that the resulting hash must start with a certain number of 0's (depending on the network's hash speed). Thus, miners will slightly alter the transaction by adding a random number to the end like so: "Alice -> 10 -> Bob 12345". The miners will then hash it again and see if it has the required number of 0's. If not, it'll change the random number and hash it again. This is repeated until an acceptable hash is found.

Once the correct hash is found, the transaction and the hash are permanently stored in the public ledger of transactions, and if anyone tries to change the transaction (i.e. changing the 10 to a 20), the hash will naturally mismatch and the network will know that that transaction is fake and will reject it. The miner who calculated the correct hash is rewarded a certain number of newly minted bitcoins and transaction fees for his contributions to the security of the network.

Thus, "bitcoin mining" is actually a slight misnomer. Its other equally important purpose is "bitcoin transaction securing."

Source

 

It’s Thursday though, so that’s good

 

I'm going to have to read this later lol, but thanks for the clarification...I'll probably have questions

 

I go through it all quickly, haha. By the end of this group buy I have to make another order to my manufacturer in China. I use a lot of those Delphi connectors for each harness.

 

I know what it is, and I still don't fully understand it. It's hard to fully grasp the concept.

 

Crypto Site Loses $137 Million After Owner with only Password Dies

https://futurism.com/crypto-exchange-loses-millions-encrypted-wallet

 

Rain is pretty bad out here. Most of the city was in a blackout.

https://www.sfchronicle.com/bayarea...PG-E-reports-41-000-customers-in-13616454.php

 

Praise the lord!

 

You're just jealous another state will become more saltier than yours as it sinks into the Pacific.

 

Take the salt. You can have it

 

I've got so much stuff to do to my damn truck by march its not even funny

 

Isn’t just gonna go ahead and give you what you want


What do you have to do?

 

- Fix oil pump leak
- Fix exhaust Leak
- Finish camper build
- Wire in my CB that I've had for 2 years
- Clean throttle body
- Finally Rhino Line it
- Fix Carrier Bearing Squeak
- Clean the inside of the fucker
- Put on my really cool military spec battery terminals

Now that I've written everything out, It doesn't seem like too much. I just don't have much time to do it

 

Rhino lining sounds like the most time consuming haha

 

We quit servicing them because of high failure rate after replacement. Is there still high failure rate on the LG compressors that are replacing the bad original ones?

 

It looks like it, that's how they mine coinbit I think

 

It was a joke man, I saw some Millennial write about his goals for last new years and one goal was 'start mining coinbit' (Bitcoin) and I died laughing man@eon_blue

 

I wish it was as easy as playing Minesweeper...that would be a fun way to mine for bitcoin. But the real process just looks and sounds too tech savvy for me