Does the stratum proxy work ok on a 3g connection? I need to move my equipment and the new place doesn't have any wired internet.
Im not sure. Can anyone help out?
Topic: Newbie All-Day - Ask All Your Bitcoin Questions Here! - page 4. (Read 7612 times)
Im not sure. Can anyone help out?
Does the stratum proxy work ok on a 3g connection? I need to move my equipment and the new place doesn't have any wired internet.
What was the last post, Satoshi made on this forum?
https://bitcointalksearch.org/topic/m.29479
Did, he say, why he quit?
Or did he just dissipate?
Or did he just dissipate?
I think he sent a message directly to Gavin (perhaps to a few others as well).
What was the last post, Satoshi made on this forum?
Did, he say, why he quit?
Or did he just dissipate?
Did, he say, why he quit?
Or did he just dissipate?
What are you the possibilities that someone could hack your wallet using only your address?
Using only your address?
That depends on where you got the address from. As long as it was generated with a wallet that generates the private key randomly with at least 256 bits of entropy, then the chances are 0%
Now if you have mal-ware installed on your computer, or you have insufficient access restrictions on your computer, or you reveal your private key in some other way, then the chances of your wallet being hacked increase significantly.
What are you the possibilities that someone could hack your wallet using only your address?
Going to throw another one in here
Lets say someone wants to start a company in Bitcoin that purchases products from Amazon or something like that using Gift Cards (Basically any service that does not accept Bitcoin yet)
That way the user can use Bitcoin to purchase said product, they enter their delivery address and send the Bitcoins to the service and the service provider fulfills their order for them.
Based on the current regulatory frameworks around Bitcoin would that consist a form of money laundering and how would someone be able to prove that they are not taking (in the sense of the term) Illegal Bitcoins from someone and then shipping the product.
Basically how would you make it complaint without going through an AML/KYC process similar to that of a normal bitcoin/fiat exchange, and needed to register for an expensive Money Service Business License.
Or would you be in a legal grey area
(I like throwing in hard ones ^^)
And not taking it as legal advice I wanted to hear an opinion as an example of a utility case.
Lets say someone wants to start a company in Bitcoin that purchases products from Amazon or something like that using Gift Cards (Basically any service that does not accept Bitcoin yet)
That way the user can use Bitcoin to purchase said product, they enter their delivery address and send the Bitcoins to the service and the service provider fulfills their order for them.
Based on the current regulatory frameworks around Bitcoin would that consist a form of money laundering and how would someone be able to prove that they are not taking (in the sense of the term) Illegal Bitcoins from someone and then shipping the product.
Basically how would you make it complaint without going through an AML/KYC process similar to that of a normal bitcoin/fiat exchange, and needed to register for an expensive Money Service Business License.
Or would you be in a legal grey area
(I like throwing in hard ones ^^)
And not taking it as legal advice I wanted to hear an opinion as an example of a utility case.
So in theory, if satoshi's are lost daily around the world, we could have a scenario where, we would all be sharing, say 100 Bitcoins.
And if a collection of big corporation wants to, they can buy say 10 000 000 bitcoins, wait until the price skyrockets, due to the increased demand, for the coins and then make gazillions, by releasing them, back into the market.
Wow, it's crazy to think, what rich companies can do, with the money they have now.
And if a collection of big corporation wants to, they can buy say 10 000 000 bitcoins, wait until the price skyrockets, due to the increased demand, for the coins and then make gazillions, by releasing them, back into the market.
Wow, it's crazy to think, what rich companies can do, with the money they have now.
Its not like you can just buy 10 mil BTC without changing the price.
So in theory, if satoshi's are lost daily around the world, we could have a scenario where, we would all be sharing, say 100 Bitcoins.
And if a collection of big corporation wants to, they can buy say 10 000 000 bitcoins, wait until the price skyrockets, due to the increased demand, for the coins and then make gazillions, by releasing them, back into the market.
Wow, it's crazy to think, what rich companies can do, with the money they have now.
And if a collection of big corporation wants to, they can buy say 10 000 000 bitcoins, wait until the price skyrockets, due to the increased demand, for the coins and then make gazillions, by releasing them, back into the market.
Wow, it's crazy to think, what rich companies can do, with the money they have now.
What happens if world population keeps growing and growing after 2140 tho?
Starting sometime around the late 1970s, the Mexican Peso started experiencing extreme inflation. By the late '80s, the price of a loaf of bread was thousands of pesos. The Mexican government introduced the "new peso" whose value was equal to exactly 1000 "old" pesos. In other words, they simply created a 1000-peso "bill", but they called it a "new peso" instead of a "1000-peso" bill.
Bitcoin might one day have the same problem, except in reverse (because Bitcoin is deflationary), but the solution is similar. Introduce a unit that's smaller than a single satoshi (maybe you could call it a dannyhamilton?). It would require a bunch of software changes, but it's entire feasible, and it's entirely fair.
Yeah, we could to a stock-split, where 1 Bitcoin will receive even more decimal places. That way no one looses any money and we could just go and conitnue with a finer granularity. Imagine the times: Micro-satoshi
Nowaday faucets would give you a house for solving a captcha What happens if world population keeps growing and growing after 2140 tho?
Starting sometime around the late 1970s, the Mexican Peso started experiencing extreme inflation. By the late '80s, the price of a loaf of bread was thousands of pesos. The Mexican government introduced the "new peso" whose value was equal to exactly 1000 "old" pesos. In other words, they simply created a 1000-peso coin, but they called it a "new peso" instead of a "1000-peso" coin.
Bitcoin might one day have the same problem, except in reverse (because Bitcoin is deflationary), but the solution is similar. Introduce a unit that's smaller than a single satoshi (maybe you could call it a dannyhamilton?). It would require a bunch of software changes, but it's entire feasible, and it's entirely fair.
-snip-
What happens if world population keeps growing and growing after 2140 tho?
What happens if world population keeps growing and growing after 2140 tho?
Let us assume, that there are only 10 people on earth and there is only 1 Bitcoin.
If it is equally distributed, then everyone will get (1/10)BTC or 0.1BTC
If the population is 10^2 or 100 people, then everyone will get (1/10^2)BTC or 0.01BTC
.
.
.
If the population is 10^8 people, then everyone will get (1/10^8)BTC.
As Bitcoin does not have any physical representation, it can be divided up to any extent. At this moment, the protocol supports division up to (1/10^8)BTC, but, if required, it may be divided more.
So, wherever the population goes after 2140, it wont be a problem to use Bitcoin. Just units for daily usage will change from BTC(10^0) to mBTC(10^-3) to uBTC(10^-6)...
Not going to quote your answer cause on mobile but simply put the value of 1 bitcoin will grow as there are fewer units of the currency that can be allocated to each person on the planet.
Will there be enough bitcoins?
Yes.
I read that there are only 21 000 000 bitcoins. Of these bitcoins, only 13 000 000 have been released by the system.
Correct. There are 13 252 000 released so far. The remaining 7 748 000 will be released between now and the year 2140.
That Satoshi person, has a few million and he is not spending it.
That's an assumption. It may not be accurate.
Lots of other bitcoin whoreders [Is that the right word] keep the bitcoins for themselves.
I think the word you are looking for is "hoarders". Most hoarders will eventually spend and use their bitcoins.
So only a few bitcoins are in circulation.
In Africa, their are 14 000 000 000 000 people. I each of them, has only a few satoshis, nobody else will have any coins.
You are mistaken.
There are only approximately
7 243 000 000 people in the entire world therefore there cannot be
14 000 000 000 000 people in Africa.
How do they over come this problem? [People on other forums says by increasing the decimal value = 0.0000000000]
How does that work?
How does that work?
13 000 000 bitcoins. Each bitcoin is 100 000 000 satoshis.
That means there are 1 300 000 000 000 000 units of currency available.
1 300 000 000 000 000 satoshis / 7 243 000 000 people = 179 483 units of currency on average for every human being on the planet.
That assumes that every human (including infants) is actively participating in bitcoin and that there are no other currency systems in existence on the entire planet.
More than likely there will be many infants and other humans that do not participate in the bitcoin economy at all. This means that each active participant in the bitcoin economy could have several hundred thousand satoshis.
As the number of bitcoins increases during the next 100 years, the average number of satoshis per active participant will increase perhaps to a million of more.
It appears there is not a problem with the quantity available.
What happens if world population keeps growing and growing after 2140 tho?
Updated the main post with previously asked questions! Check them before you post a new question!
What do they do besides waiting 30 minutes for all txts to hit 1 confirm ?
On average 1 confirmation takes 10 minutes (not 30 minutes).
That being said, they can make sure that their wallet is funded with at least 3 transactions rather than having the entire amount received in a single transaction. That way they will have at least three separate outputs in the wallet that can be spent.
I'll throw in a fun one I saw here one before
Person X is at a restaurant and does two transactions one to a waiter to pay for his bill, one to give a tip seperate bitcoin address, and one to take a taxi and use Bitcoins to pay for a taxi (It's the future)
The mobile client they use does not allow for the spending of two transactions at one time until the first transacion confirms through the network that takes roughly 1 block or ten minutes on average as it complains about an unconfirmed Tx
What solutions can be done to prevent this issue.
Person X is at a restaurant and does two transactions one to a waiter to pay for his bill, one to give a tip seperate bitcoin address, and one to take a taxi and use Bitcoins to pay for a taxi (It's the future)
The mobile client they use does not allow for the spending of two transactions at one time until the first transacion confirms through the network that takes roughly 1 block or ten minutes on average as it complains about an unconfirmed Tx
What solutions can be done to prevent this issue.
Do you mean the waiter takes the taxi after work (the TX from the customer has not yet confirmed)? Is that what you meant?
Person X (Is a Customer) there are two addresses one for paying the bill, one for tipping the waiter, and then one for taking the taxi later.
The previous transaction he made to pay for the bill transaction A is not confirmed through the blockchain yet needing at least ten minutes for one confirm through the network but the scenario is that user X now has a balance sending issue, when they are trying to tip the waiter with a seperate bitcoin address and running into this error, after this they want to pay for a taxi with Bitcoin
What do they do besides waiting 30 minutes for all txts to hit 1 confirm ?
I used that bit address site and I unplugged my network connection.
Then I created several of those fancy wallets with a password and printed the blue wallets.
What is the chance, that I would be compromised, when I plug in the network again?
Then I created several of those fancy wallets with a password and printed the blue wallets.
What is the chance, that I would be compromised, when I plug in the network again?
Using BIP38 is definitly a good way to increase the security of the paperwallet, totally forgot about that in my previous post.
Hard to say, if your machine is compromised unplugging the cable does not remove the malware. It will just sit and wait till it has a connection again.
Do they keep records of what I do, even if I am offline?
IIRC they do everything locally, thus clearing your browercache and a reboot to clear system memory should be enough.
I used that bit address site and I unplugged my network connection.
Then I created several of those fancy wallets with a password and printed the blue wallets.
What is the chance, that I would be compromised, when I plug in the network again?
Do they keep records of what I do, even if I am offline?
Then I created several of those fancy wallets with a password and printed the blue wallets.
What is the chance, that I would be compromised, when I plug in the network again?
Do they keep records of what I do, even if I am offline?
Is it possible that unconfirmed transactions can never be confirmed again?
Yes under certain circumstances a TX can not be confirmed. Lets say you have a TX (A) that has no fee, dust outputs (<600 satoshi) and is badly propagated (not known to many nodes). If you now make another TX (B) that has a at least reasonable fee, no dust outupts, is well propagated and spends the same input(s) as TX A, chances are that B will be confirmed but not A. Thus A can never be confirmed again because its inputs have allready been spend (with the confirmation of B).
May seem like a stupid question but here I go:
No such things... uhm well unless trolling
How exactly does cold storage work? Read a lot about it but don't understand it. How does a paperwallet work? Lets say I have 1 BTC on a paperwallet (how do I get it onto the paperwallet?), how do I redeem that 1 BTC in lets say 2 years?
The basic idea with bitcoin is that you have private keys that allow you spend coins and addresses that allow you to receive coins. But on a technical level you never actually "get" bitcoins, they are allways in the blockchain you only have the private key to "give" them to someone else. A paperwallet or cold storrage uses this fact to secure the private keys offline, where they can not be reached by malware.
A typical paperwallet would be:
- a private key in a format that is "easy" to read for humans (e.g. 5KKGFKMV...)
- the same private key as QR-Code to easily use it with smartphones or similar
- an address that belongs to said key in the same formats
on a piece of paper.
like this:
Note: DO NOT USE THIS! Its private key is compromised. You can make your own on bitaddress.org, but if you actually want to use it. Create it offline. In order to spend the coins I would scan the private key with my phone (IMHO mycelium is a great for that, but most other wallets allow this as well) and spend them entirely. The change (if any) would go to a new paper wallet or to another address on the phone.
Cold storrage usually refers to a computer that is offline. This computer would hold a basic OS (usually Linux, because its free) and a wallet software that manages the private keys. You also need a computer that is online to "watch" your addresses. If you want to spend coins you make a new TX on the online computer (hot wallet), transfer it to the cold storrage (e.g. via USB*), sign it there and bring it back to the hot wallet to broadcast it to the network. There are several setups and wallets for this, armory is probably the most secure and best known. Off the top of my head electrum and bither** allow cold storrage as well.
* This part is where it all can fall aparet. If the USB Stick you use to transfer the TX has some sort of virus that can infect the offline system all that hassle was for nothing.
** its for android, thus youd need an old phone
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