JGWeissman comments on Singularity Institute now accepts donations via Bitcoin - Less Wrong
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Oh, so it's the hash itself that must be less than a specific value, not the preimage of the hash. Still, that can be rephrased as "inverting any one of the hashes that are below a certain value", which is why I kept mapping it to a hash inversion problem.
And the only known way to do this is to try a large number of bitstrings and see what their hashing yields? Is there a known way to more efficiently search by looking what what bitstrings are likely to have hashes with zeroes in the most significant digits? Could someone improve performance by finding such a method?
Hashcodes do not have unique inverses. The goal is not just to find any bitstring with a haschcode in the target interval (in which case the solutions would be trivially reusable), but to find such a bitstring that contains information, including a hashcode of the previous block (so you can't get a head start before that block is computed) and transactions to be recorded (so your block is actually useful to the community).