[Zombieball]

I am very naive when it comes to the bitcoin and dogecoin protocols. However, my understanding was that mining is what keeps the currency running and you are actually validating transactions. For doing this work you are "rewarded" with coins. Not really a waste of resources if you are helping run something you support.

[GrinningFool]

The one miner who solves each block validates the transactions and receives the reward. For every other miner, it's wasted electricity.

[baddox]

That's not how it works. If every miner got a reward, then the decentralized network simply wouldn't work.

[GrinningFool]

The one miner who solves the block gets the reward. All miners who tried to solve the same block (and that would be every other miner who didn't get a solution in first) have wasted their time and do not get a reward.

I'm not sure what we're disagreeing about?

[baddox]

The disagreement is over whether the non-rewarded computation is a "waste." I don't think it is, because it's crucial to the operation of the network.

[nicky0]

Of course, most mining is done by pools, where the reward is shared out to all those who contributed hash power. So saying "one" miner is not quite right.

[GrinningFool]

Definitely true. I co-run a small dogecoin pool myself.

But I find the illusion that pools perpetuate very interesting.

In reality, only one miner does solve the block - it's just that the payout goes to the pool for redistribution.

This essentially means that pools reward wrong answers to the same degree that they reward correct answers (unless the pool is configure to give block-finder rewards).