Topic: Bitcoin Whitepaper- a MUST read for all and a little merit giveaway (Read 426 times)

Thanks Baofeng for the info 
Thanks again to bitmover for the extra question and knowledge 
I’ll lock this down now and start work on a new quiz 

Yes it is a must read, and it is also on audiobook.

Exactly. SPV wallets are mentioned in the whitepaer, just as you pointed out.

They are important for adoption, and portable devices are a very good example of it. Imagine if we had to download 200 Gb of data in a smartphone just to receive or send some bitcoins?

In section 8 of the whitepaper, Satoshi talked about Simplified Payment Verification (SPV):

From this, SPV wallets can be defined as those wallets that download a small, specific part of blockchain only but still make sure your transactions in block and maintain security (less secured than running a full node, of course). This kind of wallet is important because they're an ideal option for portable devices like smartphones.

Answer question @bitmower
using Bitcoin without running a full network node called SPV.
- Native Bitcoin SPV client - still development - BitcoinSPV is still a work-in-progress
- Modified SPV wallet client for bitcoin - Lightning network
https://en.bitcoinwiki.org/wiki/Simplified_Payment_Verification

Not sure if I'm true, at least I try

SPV wallets is kind of wallet who doesn't download the entire blockchain since that wallet is using SPV (Simplified Payment Verification) term.

It's important because SPV is minimize from download all the entire blockchain. Bitcoin is the thing we should run all the full node, but with SPV we only need the merkle root of each block to verify the transaction

Source from
https://www.[Suspicious link removed]s/amp.reddit.com/r/Bitcoin/comments/3c3zn4/whats_the_difference_between_an_api_wallet_and_a/
https://hackernoon.com/spv-proofs-explained-qd1p3r1q

I will make a question as well:

What are SPV wallets and why are they important? Best and complete answer 3 merits.

Well done 

zero

Correct - well done 

a new key pair

a new key pair

A new key pair

Wow - super quick - correct

hash

Question 3.
Which important 4 letter word appears 42 times in the whitepaper ?

thank you I find it on point number #4 proof of work

Correct

R.C.  Merkle

Adam Back

Question 2.
Which referenced author’s full name appears in the main body of text ?

Thank you Mbitr, will wait the second and more question
Will try my luck

Yep - well done 

I will say 2 times

Thanks probably start about 9am - my time - just check my profile for my time zone and say roughly 1 question per hour ? See how it goes 

I want to take part in your quiz contest. When do you start your quiz tomorrow?


I can't download Bitcoin whitepaper from the above link.
You can add this download link  https://whitepaper.io/document/0/bitcoin-whitepaper

Nice post - it certainly helps to simplify things as much as possible ( for me anyway ) , cheers mate.Also  reminds me to re- read Mastering Bitcoin - first book I read on Bitcoin and tbh the technical stuff was too much for me back then .

Certainly a must read
Satoshi explains everything in the whitepaper, wallets, nodes  pow...

I read it several times already  and I always learn more each time I read.

I made a quick summary on pow based on the whitepaper,  take a read later

https://bitcointalksearch.org/topic/summary-of-proof-of-work-3317586

You are more than right - Thankyou - I was in a rush because of my damn sausage fingers 

At the very least, provide a link to the whitepaper like https://bitcoin.org/bitcoin.pdf

Those who don't know and simply search on Google could land to other websites like bitcoindotcom. You know that site run by a fork?

Sorry I had sausage fingers and hit the post button before I finished the whole post !!

During this lockdown I’ve been getting a bit bored and so I decided to re read Satoshi’s whitepaper . I’m always surprised when I’ve met some bitcoiners in real life and they haven’t read the whitepaper. I wonder if you’ve read it ? If you haven’t , give it a read  

As an extra incentive to any members who want a few merit , I’ll do a little quiz on it tomorrow , so keep an eye on this thread !

Just 5 little questions with 5 answers and 5 merits up for grabs. 1 merit each for each correct answer. First to answer each question correctly gets a merit.

But don’t panic , if you dont win a merit at least you’ve read the whitepaper and hopefully you’ve learnt something .
Remember this is just a bit of fun .

https://bitcoin.org/bitcoin.pdf

Question 1.
Easy one to start - How many times is the word Bitcoin/bitcoin mentioned in the whitepaper ?
Answer - 2 times

Question 2.
Which referenced author’s full name appears in the main body of text ?
Answer - Adam Back

Question 3.
Which important 4 letter word appears 42 times in the whitepaper ?
Answer - hash

Question 4.
In the main body of the text - What is the ‘additional firewall’ that Satoshi mentions ?
Answer - a new key pair or each transaction

Question 5
How many times does Satoshi mention 21 million ?
Answer - Zero

Well that’s it , thanks for taking part and congrats to the winners. Hope everyone who took part enjoyed the quiz and enjoyed reading the whitepaper.