Does mining require downloading the transaction history

2

I am a newbie in the Bitcoin field and when I heard that we can mine Bitcoin in pools to generate bitcoins, It got me curious and I thought to know more about it.

I checked many site, it says you first need a bitcoin wallet that by downloading a Bitcoin software which automatically generates your wallet and starts downloading the transaction history which I get is around 6GB of files!!

Here my man aim is to mine bitcoins.

So I would like to know if there is a way to mine them without downloading the transaction history and if yes then please tell me about the required softwares or websites.

Thank you!

Mohit

Posted 2013-12-17T07:04:47.597

Reputation: 123

Answers

0

You can mine them, as long as you're in a pool, where your earnings (awarded as shares of the blocks you help solve) will go to your pool wallet online until you pull them out into your local wallet.

Generally speaking you want your coins in your local wallet so that if a pool goes down or is compromised in some way, you don't lose your hard-earned coin.

So start downloading the blockchain with your wallet, but while you do so you may also begin mining.

HellsKitchen

Posted 2013-12-17T07:04:47.597

Reputation: 16

2@Mohit Or use a lightweight wallet such as MultiBit. You won't need to download the blockchain that way (it is currently greater than 14 GB and growing) – ScripterRon – 2013-12-17T08:30:42.903

@ScripterRon So with MultiBit will I also have to download some data or ts just install the software and the wallet is created? – Mohit – 2013-12-17T11:14:02.913

@Mohit MultiBit synchronizes with the network by selectively fetching transactions from a bitcoin peer node. It does not download the entire blockchain. More information can be found at https://multibit.org/

– ScripterRon – 2013-12-17T16:30:13.780

Asked: 2013-12-17T07:04:47.597

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Active: 2013-12-17T07:36:58.920