Merged mining specification - Bitcoin Wiki

Thoughts on merged mining? (Mining 2 or more coins at the same time)

PoW is intrinsically broken/flawed. We all signed up for it, but I am personally not really that worried.
Any new algorithm that relies on PoW is just delaying the inevitable.
ASICs are a greater threat than GPU was to CPU in terms of centralization, but if we survive it, we will be much much better for it.
How much of a supportive community do we want to be?
Will we allow present and future altcoins to use Dogecoin as the parent blockchain and their blockchain is auxiliary? We can't stop them, but it's nice to be inclusive.
This is merged mining. You mine 2 or more coins (Namecoin, Ixcoin, Devcoin, I0coin and Groupcoin), at the same time, with one miner. Bitcoin does this all day.
Here is a discussion about it for scrypt coins: https://litecointalk.org/index.php?topic=15666.0
At a merged mining scrypt pool that mines Dogecoin, if you had 1250kh/s it would look like this:
Parent Blockchain - DogeCoin: You are mining it at 1250Khash/s
Auxillary Blockchains:
PesetaCoin: you are mining it at full speed, 1250Khash/s
UnitedScryptCoin: you are mining it at full speed, 1250Khash/s
OrgCoin: you are mining it at full speed, 1250Khash/s
HunterCoin: you are mining it at full speed, 1250Khash/s
More pools like this would be nice. Is anyone working on a Dogecoin specific one?
I would like to think we are the type of community to support this. This could only make us stronger. It's just one of many possible ways to improve our network security.
submitted by thistime1 to dogecoin [link] [comments]

Bitcoin mining made really easy/BFGminer quick start guide

There is 2 parts to this
If i am missing somthing of if you want to add to this then please tell ms so i can make the changes. All is one and one is all. Infomation wants to be free, so dont be a dick help me make this better for all. Oh one more thing before we start I don't give a rats ass about up votes or down votes or square votes for this matter, I made this to help anyone who is stuck, if you don't like it then scram!(Its not like im forcing you to read this)...Or i am i ...
So if you new or experienced bitcoin miner you should know that shit ain't free. The reason for this is the fact that electric isn't free.(Oh the fun days we would have if it was) When mining there is always going to be a cost, like how to pay for the Hardware, and the power and the maintenance and something that everyone forgets, The time it can take to set up the hardware and the scripts to miner. I chose to do a side project on this and got my own Asic miner USB Block eruptor that mines at 336mhs. It took me about 6 hours to write a working batch file. So show i wanted to show it to you all because it is a pain in the ass.
BFGMINER PART
So If your using "ASICMiner Block Erupter USB 333-336MH/s Sapphire Miner" You have found the right page
You will need install the drivers here is the link = These drivers may be downloaded from: http://www.silabs.com/products/mcu/Pages/USBtoUARTBridgeVCPDrivers.aspx
So this is what i use BFGMINER.exe Verson 3.2.1 So i made a batch file With this in it.(If you need help making this then please tell me.I don't mind helping.)
C:\Users\Admin\Desktop\bfgminer-3.2.1-win64\bfgminer-3.2.1-win64\bfgminer.exe -o stratum+tcp://uk1.ghash.io:3333 -u YOURNAMEHER.worker1 -p YOURPASSWORD --disable-gpu -S all
-o stratum+tcp://uk1.ghash.io:3333 This is my mining pool -S all will find all divices -disable-gpu because i don't want it to mine on my GPU. Make this the location of you BFG miner C:\Users\Admin\Desktop\bfgminer-3.2.1-win64\bfgminer-3.2.1-win64\bfgminer.exe
-u YOURNAMEHER.worker1 This is your username and workername. -p YOURPASSWORD This is your password
So from all of this it worked i have basically pieced together everything that i found to make the batch file that will start mining
Woot Woot Empty Space
Bitcoin mining made really easy PART
How to start * Sign up at Cex.io if you don't already have an account. Then you can buy GH/S of mining speed. From Ebay Just type in Cex.io in ebay and you will find it all. READ ALL THE POSTS CAREFULLY. People can and will be dicks and try to trick you like saying 10000 kh/s of mining power, People that is 10 mb/s. Aka nothing
When you get a voucher code You will immediately start mining Bitcoins. You don't have to worry about setting anything up, electricity, power outages, or bad hardware.
The Benefits
*No technical knowledge required.
*No hardware to maintain.
*No software to configure.
*No electricity cost.
*If there server gose down they will bous your speed of the miner to make up for the down time(that is really cool, i only had this happen once......The went down for about 13 hours and i normale was mining at 2gbs but the bumped me up to 6 gbs for a few hours to make up for the down time...
*You can buy gh/s witht the bitcoins you mine.
*Supports Merged mining.This means it Mines Bitcoin, Namecoin, Devcoin, and IXcoin at the same time!
The Disadvantages
*you cant buy gh/z with money, they will only accept bitcoins
*If you like to physical hold the miner then this isnt for you.(Hey i do both so its the best of both worlds)
submitted by Xexos1 to Bitcoin [link] [comments]

06-17 00:12 - 'This is my understanding of what you are proposing (correct me if I'm wrong): / The idea is to have "adoption-first" group (i.e. big blockers) and "decentralization-first" (i.e. Segwit supporters) group agree to turn the exi...' by /u/baltakatei removed from /r/Bitcoin within 86-96min

'''
This is my understanding of what you are proposing (correct me if I'm wrong):
The idea is to have "adoption-first" group (i.e. big blockers) and "decentralization-first" (i.e. Segwit supporters) group agree to turn the existing single blockchain into two parallel blockchains but without bitcoin token duplication. Using the drivechain idea, the "adoption-first" group would specify a split date upon which they would send their bitcoins to an exit address on Chain A and then only spend bitcoins on Chain B. For the "decentralization-first" group, they may continue to use bitcoin as before. At a later date, Prior to the split date drivechain-compatibility could would be added by consensus agreement by Chain A nodes so that members of the "adoption-first" group could release their bitcoins onto Chain A again.
Now, the "adoption-first" group can deploy straightforward blocksize increases they would like on Chain B to accelerate adoption with users immediately and possibly never decide to reunite with Chain A again.
Likewise, the "decentralization-first" group can continue deploying SegWit, Schnorr signatures, Lightning Network, and other decentralization-friendly optimizations onto Chain A. Big blocker advocates can be encouraged to join Chain B. At a later date, developers for Chain A can add drivechain support so that Chain B users can unlock their bitcoins on Chain A, if they so choose.
I'm curious to hear people's ideas on how such a sidechain arrangement could be made an attractive fall-back plan for the "adoption-first" group, especially given the relative simplicity of permitting bitcoin tokens to be duplicated on two blockchains after a hard fork (no need for an exit or reverse migration plan, which is what drivechain seems to facilitate).
This is a snippet of [an article]1 about drivechain that I read before I tried to put this summary together:
The gist of it is that to send bitcoins to a sidechain, it's as simple as sending your coins to a particular address, with no added changes of any kind to the bitcoin code itself. Meanwhile, releasing your coins later is harder, and it will take a soft-fork of the bitcoin blockchain. Participating miners will need to download new Bitcoin clients that support this function, enabling the release of these bitcoins.
The great news is that no hard-fork is needed, which has a lot of developers relieved. If sidechains are properly implemented, there should be no need for another hard fork, and the associated risks, all forking in the future could be done on sidechains.
However, the bad news is that there is an increased possibility for sabotage and perhaps theft. Groups of miners working together can 51% attack a sidechain that they mine, in order to steal any bitcoins that are locked into it. This would, however, only hurt the value of coins on that sidechain, not the original bitcoins. While this is a genuine concern, it is one that Sztorc sees as very close to the same problem bitcoin itself already has, and he claims to have figured out how to minimize the threat, through a process where miners vote to keep things honest.
The miners themselves would not have to manually vote, but they would have to merge-mine the sidechain that they can vote on. “If they merge mine, it can all be 100% automated,” Sztorc recently said on Reddit. This means that there aren’t many blockchains that would be compatible with Drivechain's implementation, at least not yet.
Scrypt-based altcoins, including Litecoin and Doge, are not compatible since miners of bitcoin can only merge-mine SHA 256 blockchains, like Namecoin, Ixcoin, and Devcoin. This may mean that all sidechains in the future will be brand-new chains, custom created from scratch for the purpose.
While sending bitcoins to the sidechain has never been a problem, releasing the bitcoins into the hands of a new owner has been a constant thorn in the side of this whole concept. Drivechain's solution is complex, but far more complete than the Blockstream solution was.
Sztorc proposes that whenever you want to change your sidechain coins back to bitcoins again, you send a “withdrawal transaction” (WT) from the alternative chain to a listening address, which destroys the sidechained coins, and specifies the bitcoin destination address.
Drivechain
Unfortunately, this release process is far from instant, because at this point you have to wait for it to be bundled with other WTs, and wait for the end of a minimum three-day period. This delay could be as much as two weeks, and is designed to give everyone involved the opportunity to ensure that the same WT is in both the Bitcoin blockchain and the sidechain. If the two blockchains disagree, everyone has plenty of time to contact each other, figure out what is going on, and redo the process until they get it right.
Drivechain2
The process is obviously more complicated than this, but in simple terms; if there are problems, then a manual solution is available. If there are no problems, then everything proceeds automatically after the minimum three-day wait.
There is still quite a lot of coding and experimenting left to do, but the outcome looks sounds promising. Assuming that Sztorc and his team successfully finish, major problems with Bitcoin could be very quickly solved. BitcoinXT, for instance, could be run as an altcoin beside the Bitcoin core client that is mined now, and we could assess which of the proposals is better for bitcoin by watching them.
Better yet, a sidechain with a very short interval between blocks could be created. This could provide an exponential increase in the number of transactions per second, creating Visa-like processing capabilities, which would of course greatly increase investor confidence in bitcoin overall.
What does this mean for the value of altcoins in the future? It is conceivable that their market caps will all move into bitcoin over time. According to Sztorc, altcoins would eventually become obsolete, at least as far as their price goes.
Regardless of the value of any future altcoins, the value of bitcoin could grow substantially once sidechains become a reality, due to all of the added utility. This in turn attracts more miners and further secures the bitcoin blockchain, adding even more utility. A very fortunate positive feedback loop could be started.
edit: integrated luke-jr's reply about integrating drivechain support on Chain A before the split:
We'd need drivechains on Chain A from the start. Otherwise the peg-out to Chain B would literally be an anyone-can-spend on Chain A (or at least a trusted-third-party-can-spend).
Otherwise, that sounds about right.
'''
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Author: baltakatei
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Alternative Cryptocurrencies - full list of all Bitcoins alternative out there [EN] How to start MERGED mining Loki (LOKI) and TurtleCoin ... Merged Mining. Mine Monero and FantomCoin At The Same Time Automatically With MINERGATE Webinar Series: From Bitcoin Mining to RSK Merged Mining BitcoinExpo2015 LONDON - Merged Mining Panel (TXC)

This bitcoin merged mining pool allows you to mine for bitcoin. The pool provides the Double Geometric Method at a 1.5% fee for the bitcoin portion of the reward. Transaction fees in mined blocks (minus the 1.5% pool fee) are awarded to the miner that found the block. Overview. Stratum protocol for mining mmpool.org:3333 or mmpool.org:3334 for high difficulty miners; DGM reward method; 1.5% ... Reward distribution []. 1.5% fee with Double geometric method for bitcoin rewards. PPS method for merged mining rewards of Namecoin, Devcoin, ixcoin, i0coin and groupcoin.; Payout available as soon as a block is found for bitcoin and immediately a share is submitted for the merge mined coins. In case 1 nothing happens and the merged miner inserts a new nonce value and rehashes. In case two the miner has found a solution for the Namecoin network and propagates its solution throughout that network, if mining in conjunction with Bitcoin. In case three solutions have been found for both of the chains and so a all the required ... Projects Using Merged Mining. Surprisingly, there aren’t many projects that have implemented merged mining. Here are a few of the more notable ones that have: Namecoin. Namecoin was the first cryptocurrency to fork from Bitcoin as well as the first to have merged mining. Because both use the SHA-256 hash, the developers chose to latch onto ... Merged Mining-Prozess. Das Merged Mining erfordert keine zusätzliche Rechenleistung für die Mineure. Als Miner minen Sie Namecoin und Bitcoin genauso effizient wie beim Mining von nur Bitcoin. Sie (oder Ihr Minenpool) müssen nur den zusätzlichen Aufbau durchführen, um ihn zu unterstützen.

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Alternative Cryptocurrencies - full list of all Bitcoins alternative out there [EN]

Thank You For Watching! Remember to subscribe and hit the bell "🔔" icon to get notifications as soon as I upload a new video or start a live stream! Explaine... Join Red Panda Mining's Discord Channel! - https://discord.gg/cJwmK7B Send Your Mining Rig Pics in Discord be featured in upcoming Community Mining Rigs Episodes! Ledger Nano X - https://www ... More profits from mining without adding extra capacities. Blockchain platform and Emercoin cryptocurrency implements mining, combined with Bitcoin - Merged Mining in the wallet’s 0.6.0 update ... -IXC IxCoin merged mined with BTC, premined 580k coins but still alive-NVC NovaCoin - scrypt hashing[like LTC] , proof of stake [like PPC] , controversial start -FRC Freicoin - back alive. 4.89% ... Merged mining technology panel from Bitcoin Expo 2015 in London demonstrated on Transaction Coin (TXC), digital currency minable with Bitcoin and Dogecoin.

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