A simple bitcoin Q/A. Learn new and interesting stuff about bitcoin. - page 9.

pugman

legendary

Activity: 2383

Merit: 1551

dogs are cute.

Quote from: Ginzink on March 27, 2018, 03:01:31 AM

Really awesome thread, first post with all thoose good answers really did teach me something so thank you

Already good answers on it so wont try, but interesteing that something i had not heard of was first launched in 2009 and latest update is just 1 month old!
It looks like a complicated daemon to run.

Could i suggest the next question? "How does a bitcoin wallet work and what is the daemon role?" -Or something in that area

Thank you.
If you want to suggest a question, please go ahead. I am definitely not going to stop something that would encourage more learning.
I am really happy that people are learning something from this thread. There's another thread similar to this started by BTCforJoe, be sure to check it out.

pugman

legendary

Activity: 2383

Merit: 1551

dogs are cute.

Quote from: theyoungmillionaire on April 14, 2018, 08:54:35 AM

Hi Pugman, may I know the correct answer for this? Cause I want to add in the topic Cryptocurrency Lingo/Slangto help beginners. Thanks

I believe this one explains it properly :

Quote from: bitmover on April 13, 2018, 10:35:26 AM

A distributed ledger is a database in which the data is shared to all participants in the network. All those participants record, share an synchronize the whole data. There is no need for a central authority in a distributed ledger. I read reports of early distributed ledgers in 80s and 90s, very interesting.

I think the most famous distributed ledger now is R3 Corda, and some banks are testing it for financial services. R3 Corda is based on blockchain. But it's designed for financial services. One interesting difference is that not all participants (nodes) have all data in R3 Corda.

Blockchain is somehow a distributed ledger. But the process of organizing the database throught blocks, and linking these blocks using hashes, the method of consensus based on Proof of Work, is totally different from a common distributed ledger.

theyoungmillionaire

sr. member

Activity: 375

Merit: 1021

Just in case no one loves you, I love you 3000.

Quote from: pugman on April 13, 2018, 09:21:37 AM

Question: What is a distributed ledger?

Hi Pugman, may I know the correct answer for this? Cause I want to add in the topic Cryptocurrency Lingo/Slangto help beginners. Thanks

pugman

legendary

Activity: 2383

Merit: 1551

dogs are cute.

Quote from: shahzadafzal on April 14, 2018, 07:11:41 AM

what is the correct answer to this question?

Quote from: pugman on March 19, 2018, 09:24:28 AM

Question: Give a short summary on bitcoind.

What r1s2g3 had copied from here is what I was looking for but not in exact same text. I was looking for someone to understand it,and then writing it,even if it is wrong,doesn't matter,you'll learn. Someone or the other if not me will correct you with the right info. So,in other words,I haven't found a right answer from this thread even though I merited a couple of them.

shahzadafzal

copper member

Activity: 1526

Merit: 2890

what is the correct answer to this question?

Quote from: pugman on March 19, 2018, 09:24:28 AM

Question: Give a short summary on bitcoind.

pugman

legendary

Activity: 2383

Merit: 1551

dogs are cute.

Quote from: Kim Ji Won on April 14, 2018, 01:35:00 AM

Whoa! I've answered it correctly I guess? Didn't expect that I will tho. Grin

, but hey! TBH I just recently bumped into his thread yesterday and I don't really know that there is this kind of service. I really learned a lot and I added this thread to my watchlist. Hope that this thread continues to function even if pugman and bill gator run out of sMerits to give because as I went to the whole thread, it seems there are a few members with many sMerits that would like to chip in if ever you guys are running out of it.

Anyways, I gave back the merit I received in hope that it could also help others to be awarded. If I may ask, I understand that after being merited for answering the question, I should not participate in the next question but I can participate in the question after that right? Even so, can I still answer your next question even if I am not merited for it? I just want to know if what I learned/understand about it is correct or not, you can just quote my answer if it correct or wrong then.

Your answer was not entirely correct,but you did mention some valid points and most of it made a little sense. This is not a service but rather this is just a thread where you learn things about bitcoin. Thank you for your offer,but don't worry,I have a few merits and it should probably last for a while. If ever we need any assistance with smerits,I am sure other members would step up for it.

Thanks for giving me the merit but I'd rather ask you to give the merit to someone who deserves it more,I cannot rank up any further,so it'd only make sense.

You can answer how many ever questions you want,unless and you until you repeat the same points that others have mentioned. I'll surely correct you but sometimes I get a little busy and things get super clogged up but whenever I get the time,I'll surely let you know.

Kim Ji Won

full member

Activity: 350

Merit: 110

Whoa! I've answered it correctly I guess? Didn't expect that I will tho. Grin

, but hey! TBH I just recently bumped into his thread yesterday and I don't really know that there is this kind of service. I really learned a lot and I added this thread to my watchlist. Hope that this thread continues to function even if pugman and bill gator run out of sMerits to give because as I went to the whole thread, it seems there are a few members with many sMerits that would like to chip in if ever you guys are running out of it.

Anyways, I gave back the merit I received in hope that it could also help others to be awarded. If I may ask, I understand that after being merited for answering the question, I should not participate in the next question but I can participate in the question after that right? Even so, can I still answer your next question even if I am not merited for it? I just want to know if what I learned/understand about it is correct or not, you can just quote my answer if it correct or wrong then.

cryptothief

member

Activity: 350

Merit: 41

These guys distributed Ledger...

Kim Ji Won

full member

Activity: 350

Merit: 110

Distributed ledgers is a type of database where you can share access of the data to all parties included in the network and each one can have a shared control over the maintenance of the set of shared facts. Decentralization of databases gives you the authority to these databases enabling you to make changes to data it holds but with the consensus of all parties involved. Therefore creating a valid data and making a trusted information.

bitmover

legendary

Activity: 2352

Merit: 6089

bitcoindata.science

Quote from: pugman on April 13, 2018, 09:21:37 AM

Question: What is a distributed ledger?

A distributed ledger is a database in which the data is shared to all participants in the network. All those participants record, share an synchronize the whole data. There is no need for a central authority in a distributed ledger. I read reports of early distributed ledgers in 80s and 90s, very interesting.

I think the most famous distributed ledger now is R3 Corda, and some banks are testing it for financial services. R3 Corda is based on blockchain. But it's designed for financial services. One interesting difference is that not all participants (nodes) have all data in R3 Corda.

Blockchain is somehow a distributed ledger. But the process of organizing the database throught blocks, and linking these blocks using hashes, the method of consensus based on Proof of Work, is totally different from a common distributed ledger.

pugman

legendary

Activity: 2383

Merit: 1551

dogs are cute.

Question: What is a distributed ledger?

The merits for the previous question will be awarded within a couple of hours. Sorry for the delay. And don't plagiarize. Learn something new. Understand. Don't do this just for the sake of merit. Do it because you love bitcoin and you want to learn new stuff about. That's what is the main purpose of this thread.

qweqwe2121

member

Activity: 630

Merit: 13

Crypto ✪ Enthusiast

Quote from: pugman on March 19, 2018, 09:24:28 AM

Question: Give a short summary on bitcoind.

A tiny bump.

Bitcoind is a multithreaded C++ program. The multithreaded aspect leads to some complexity and the use of certain code , so it will help to be fluent with map, multimap, set, string, vector, iostream, and templates.

pugman

legendary

Activity: 2383

Merit: 1551

dogs are cute.

Quote from: bill gator on March 21, 2018, 04:34:24 PM

Quote from: pugman on March 19, 2018, 09:24:28 AM

Phew! Finally evaluated the answers and gave merits to a few deserving posts.

I know the feeling, we've got a couple of threads that require a lot of attention and time. Then you add regular everyday life into the equation and you end up feeling like there's not enough hours in the day to just do the simple things. I feel bad that I have been mostly missing from this thread and it has been awhile since I've popped my head in, but it seemed like you and a couple other users have found somewhat of a rhythm so I didn't want to mess that up. I'm researching questions and always learning more, so whenever that rhythm seems to stutter I will have questions at the ready without a problem.

Phew indeed pugman, but good job not letting this thread get away from you and staying on top of it.

I know right. Bill,don't worry. Feel free to hop in any time and ask the questions,I am sure you'll get a lot of answers.

I just realized I haven't been online for 4-5 days.. Crap. Need to get my shit together.

Will evaluate the answers soon and will have another question for y'all.

apur688

jr. member

Activity: 546

Merit: 4

Question: Give a short summary on bitcoind.

Bitcoin is a boss and bitcoind is an employee of bitcoin.
anything about bitcoind is connected with bitcoin. But reading from Bitcoin Wiki, "As part of Bitcoin Core, bitcoind has been bundled with the original client...". Although it is bound by bitcoin, bitcoind works by itself in managing its systems and networks. So bitcoind is an independent network.

BTCforJoe

hero member

Activity: 882

Merit: 976

Quote from: evilsign on March 29, 2018, 02:08:22 AM

Question: Give a short summary on bitcoind.

Answer : bitcoind stands for "Bitcoin Daemon" where a daemon is any computer process which runs in the background ("service" in Windows terminology). Short conclusion right? Grin

You’ve stated what bitcoind means, but not what it is or its function. Embellish a tad bit more on your answer (very simple, yet conclusive) and you’ll get a merit from me!

evilsign

member

Activity: 280

Merit: 60

Question: Give a short summary on bitcoind.

Answer : bitcoind stands for "Bitcoin Daemon" where a daemon is any computer process which runs in the background ("service" in Windows terminology). Short conclusion right? Grin

Ginzink

full member

Activity: 462

Merit: 118

Quote from: ?? on ??

Quote

Question: Give a short summary on bitcoin.

Money Anonymity
That's my summary for bitcoin,

The question was about Bitcoind not bitcoin

And bitcoin is more decentralized than anonymous Roll Eyes

Really awesome thread, first post with all thoose good answers really did teach me something so thank you

Already good answers on it so wont try, but interesteing that something i had not heard of was first launched in 2009 and latest update is just 1 month old!
It looks like a complicated daemon to run.

Could i suggest the next question? "How does a bitcoin wallet work and what is the daemon role?" -Or something in that area

shahzadafzal

copper member

Activity: 1526

Merit: 2890

Quote from: pugman on March 19, 2018, 09:24:28 AM

Question: Give a short summary on bitcoind.

Answer:
One liner could be bitcoind is a source code of bitcoin.
Short summary, it is a non-gui software originally written by Satoshi Nakamoto (now maintained by Bitcoin community). It can handle all the functionalities of bitcoin like transaction verification, sending and receiving of bitcoins and running as full node by downloading the full blockchian of bitcoin.

bill gator

legendary

Activity: 1386

Merit: 1123

Quote from: pugman on March 19, 2018, 09:24:28 AM

Phew! Finally evaluated the answers and gave merits to a few deserving posts.

I know the feeling, we've got a couple of threads that require a lot of attention and time. Then you add regular everyday life into the equation and you end up feeling like there's not enough hours in the day to just do the simple things. I feel bad that I have been mostly missing from this thread and it has been awhile since I've popped my head in, but it seemed like you and a couple other users have found somewhat of a rhythm so I didn't want to mess that up. I'm researching questions and always learning more, so whenever that rhythm seems to stutter I will have questions at the ready without a problem.

Phew indeed pugman, but good job not letting this thread get away from you and staying on top of it.

shezu007

full member

Activity: 336

Merit: 121

I appreciated this type of work here. That is the best way through which all users will get actual and important information about bitcoin.
We need to launch such activities more and more and i am sure that will give better result to the forum. As people will get accurate knowledge and will be able to make constructive and more informative posts. Salute to this activity.

Topic: A simple bitcoin Q/A. Learn new and interesting stuff about bitcoin. - page 9. (Read 27389 times)