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Location: New Liberty Standard Discussion Forum
Discussion: how much blocks I need to generate 1 bitcoin?
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Posted Anonymously |
how much blocks I need to generate 1 bitcoin?
Nov 17 2009, 5:21 PM EST
I just install the application and it worked a couple of hours and generated 27378 blocks and only after 0:00 (Moscow time) it showed (if double clicking on status line)Status: 2/unconfirmed Date: 18.11.2009 00:07 Source: Generated Credit: (50.00 matures in 118 more blocks) Net amount: 0.00 Generated coins must wait 120 blocks before they can be spent. When you generated this block, it was broadcast to the network to be added to the block chain. If it fails to get into the chain, it will change to "not accepted" and not be spendable. This may occasionally happen if another node generates a block within a few seconds of yours. Do you find this valuable? |
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Posted Anonymously |
1. RE: how much blocks I need to generate 1 bitcoin?
Mar 5 2010, 12:34 PM EST
I know you are not here, but I am sure it will be useful to someone eventually:On install, you have to wait several hours (possibly days) before you get what you saw: #/unconfirmed That is a transaction, which is a single (iirc, but might be more, unconfirmed shows up up to, like, 5 blocks) block, being made. After the initial transaction, your processor continues making blocks, which are recorded by the program, but not being "spent" making transactions like you just did. Ideally, you would have 120 transactions between each check. So, in 118 blocks, you will have 50.00 coins in your balance and hopefully more transactions in between. If I goofed anything up, please correct me. Information is good. 2 out of 3 found this valuable. Do you? |
