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A radical new way to mine Bitcoin?

A radical new way to mine Bitcoin?

Bitcoin Reddit

Reddit / Bitcoin Reddit 14 Views

I have this crazy idea that I feel could Optimize Solo Mining and make it profitable again, and I'm trying to figure out how to build and program a rig so that I could try this:

It is my understanding that, when a new block is created, the miner first generates a Merkle Root from a Merkle Tree consisting of all the transactions that will be listed in the Block (including the Coinbase Transaction), adds said Merkle Root to the new Block's Header, and then tries to find a number between 0 and 4,294,967,295 (the nonce) that, when combined with the rest of the Block's Header and Hashed will result in a Hash with a certain amount of Zeros. If such a nonce is found, then the block is accepted by the Bitcoin Network, added to the Blockchain, and newly created Bitcoin appears in the Miner's Wallet; but, if none of the nonces work, then a new Merkle Root is generated by changing the Coinbase Transaction (but leaving the other transactions the same as before), and the miner again tests all of the possible nonces to see if any of them will result in the proper hash. And all this goes on and on until the miner finds the right combination of Merkle Root and Nonce that will work with the rest of the Block's Header.

Now, because there are 4,294,967,296 possible nonces, this means that the Miner will Hash bad Merkle Root 4,294,967,296 times; which, if you think about it enough seems like such a waste. However, because there is only 612,772 blocks in the blockchain (as of the typing of this post), this also means that it's quite unlikely that any 2 or more Blocks will share the same Nonce (not impossible, but unlikely).

Hence, my idea is to configure a miner so that, instead of checking all 4,294,967,296 possible nonces, an Artificial Intelligence analyses the Blockchain and guesses the best nonce to try, and the Miner then keeps changing the Merkle Root (leaving the nonce the same) until to hopefully finds a Merkle Root that, when Hashed with the previously chosen nonce and the rest of the Block's Header will produce the appropriate Hash in which the Block will be accepted. This can also be scaled up with work with multiple miners: For example, if you have 8 miners, you can have the AI choose the 8 best nonces to try, assign each of those nonces to a single miner, and each miner keeps trying it assigned nonce with different Merkle Roots until one of the miners finds a combination that works.

submitted by /u/sparky77734
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