> He shows a log that shows 12 BCs accepted on December 3rd. He does not sa=
y
over what period these were 'mined'.

Firstly, it's not possible to mine in advance and then submit blocks to the
network at a later date. Each block contains a reference to the previous
one, so if they aren't submitted, later blocks don't build on top of them.
The transactions contained in any blocks mined this way would basically be
returned to the pool of unconfirmed transactions (really, they never
actually left).

Second, those aren't bitcoins themselves in that log, they are "shares".
It's infeasible to mine solo these days, because other people will almost
always be able to solve their block before you. This race against the rest
of the network is essential to the security of the currency. Anyway, there
are several mining pools, where a central server splits the necessary
computations between many connected clients. This means the solution to a
block can be found much more quickly due to the huge combined power of all
of the miners in the pool. The miners are rewarded using some method
related to the amount of computational work they have given the pool, even
if they did not find a block solution themselves (profit is split among
miners) - resulting in a more steady income for miners.

David.


On 9 December 2013 09:38, RussellMc <apptechnz@gmail.com> wrote:

> The madness extends even unto the land of the dawn of the day
> 60 gh/s BC engine:
>
>
> http://www.trademe.co.nz/computers/peripherals/other/auction-672024215.ht=
m
>
> Note that
>
> Payment in Bitcoins accepted.
>
> $NZ3900 starting price has not met reserve.
>
> He shows a log that shows 12 BCs accepted on December 3rd. He does not sa=
y
> over what period these were 'mined'.
>
> Any currency that varies in 'exchange rate' by 100:1 (or 100:1 or ...) ov=
er
> a year or so is no doubt great fun to 'play' with,but liable to be no hav=
en
> for the risk averse.
>
> __________________________
>
> He says:
>
> Bitcoin miner hashing at 60gh/s
> Bitcoin price has gone up 1000%.
> Get involve right now.
>
> The miner is in hand!
> after you buy from someone in the states , IF it even arives in working
> condition AND the duty and tax at customs
> if you are new to BTC these units are very hard to come across, not sure =
if
> this is the only one in the country or not
> if anyone wants to order from butterfly labs, you will note receive it fo=
r
> a whole year, im still waiting on other deliverys from over 9 months ago.
>
> This unit is working and anyone can come and see it running at my house
> befor pickup if they choose to.
> THIS UNIT RUNS BETWEEN 58.5-62.5 GH/S
> I'm in no rush of selling this unit. It is making me good chunk of
> bitcoins.
>
> Package includes:
> 1 x BFL 60 GHS miner
> 1 x BFL power supply
> 1 x USD cord
>
> tags: bitcoin miner, Asic, BFL
>
> Payment with Bitcoins Accepted!
> --
> http://www.piclist.com/techref/piclist PIC/SX FAQ & list archive
> View/change your membership options at
> http://mailman.mit.edu/mailman/listinfo/piclist
>
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