What's the hardest thing to understand about Bitcoin for you?

ranochigo

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Quote from: ?? on ??

Hadrdest thing to understand about Bitcoin ? Tongue

For me mining bitcoin and where it came from forming wallet ? Cheesy

Why we must mining for get bitcoin I still don't know about that. Tongue

Mining is done to secure transactions by ensuring the transactions included in the blocks do not spend the same output with another transaction that has confirmed before. The deeper it gets, the harder it is to reversed. However, if the transaction is included in the block after the last checkpoint, it is possible to reverse it by 51% attack as you're able to build a new chain faster than anyone else on he network. It doesn't yield much profit either.

Mining ensures a stable distribution of the coins. If it were to get distributed at the start, people would hold monopoly. It also allows users to make an effort by mining to gain those coins.

Reynaldo

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Quote from: ?? on ??

Hadrdest thing to understand about Bitcoin ? Tongue

For me mining bitcoin and where it came from forming wallet ? Cheesy

Why we must mining for get bitcoin I still don't know about that. Tongue

Mining secure's the bitcoin network by making it difficult for people "to redo" the calculations and create another bitcoin "chain"

Imagine there are X bitcoin chains, where they connect imaginary squares, if they mine, they add more squares if they didnt mine anyone could remake the main bitcoin "chain"and re-do all transactions that were in the squares. <- explainitlikeImFive

Harry Hood

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The future.

I wish I could understand what the future holds for Bitcoin. Will it get political and perverse? Will it fade or fail? Will it be eclipsed by something new? Will it gain strength and value at a slow and steady clip?

ranochigo

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Quote from: foxkyu on October 31, 2015, 03:41:04 PM

Quote from: paulart08 on October 31, 2015, 09:05:16 AM

Is every btc send normally done in 2 transactions?

One confirmations should be enough. But 6 confirmation is a much better.

Technically, waiting for a few minutes, ensuring that it has proporgated well and having a good amount of fee would be more than enough to accept a low amount 0 conf transaction. It is still quite hard for people to reverse it.

Fraxinus

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Hah,the thing about faucets is a really good question,well maybe in the beginning people don't have much btc to start with and the end up using faucets to earn some btc,however I also think that may be not the best option right there.

notlist3d

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I am starting to have a new one that is my hardest thing to understand. I cannot understand why anyone would use faucets. Making cent's per hour is horrible pay I just don't see it being enough to even be enjoyable.

I am surprised how faucets always get brought up in beginner thread. It makes me wonder if people don't realize it's cents for hours of work. Or if they are being pushed by people who have faucets and rotaters.

Don't know if we will ever get that anwser though.

smith coins

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For me the hardest thing at the beginning was to sign a message.
I was thinking that i must have any plugin or additional software to do that.
Then i didn't understand the halving method but found in wiki that is explained in detail.

BurstIncomeAsset

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The hardest thing for me is that why does it have so difficult mining algorithm. It goes against decentralization, it should be an easier algo.

foxkyu

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Quote from: paulart08 on October 31, 2015, 09:05:16 AM

Is every btc send normally done in 2 transactions?

One confirmations should be enough. But 6 confirmation is a much better.

takingthis4

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how is it mined and how the blocks are solved or something like that Cheesy

paulart08

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Is every btc send normally done in 2 transactions?

JumperX

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Quote from: Watoshi on October 31, 2015, 04:31:29 AM

Can you explain me more about doublespend? I send some bitcoins using blockchain.info but it double spend accidentaly. There was already a trasaction but my balance was still there. I have to send twice it to get confirm.

doublespend is when you spend the same input twice. probably in your blockchain wallet it reflects a possible malleablity attack on 1 of your transactions. try to check your balance at other block explorer

Watoshi

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Can you explain me more about doublespend? I send some bitcoins using blockchain.info but it double spend accidentaly. There was already a trasaction but my balance was still there. I have to send twice it to get confirm.

kevin go

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maybe the hardest thing for me its about how to earn the bitcoin... Huh

Hugroll

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Quote from: notlist3d on October 09, 2015, 11:46:14 PM

Quote from: Anmol_Verma on October 09, 2015, 09:19:15 PM

Mining is the hardest thing for me.i still don't understand it so i finally ignored.

Any certain part of mining? There are lot's of us miners here on this board.

We might be able to help, chances are good

ok so i have a question about mining. i understand that new btcs are generated when a block is mined. what is the difference between block mining and miners that confirm transaction? are they the same thing?

foxkyu

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Quote from: pilscoop on September 24, 2015, 06:06:17 PM

Getting started in the world of Bitcoin can be a little confusing.
I'd like to know what is the concept that confuses you the most and why.

Back then, the whole thing about the new words i just know in bitcoin. Like blockchain, private key, mining, etc.

Most words is very new, so little need time to understand it. But now i know that little by little.

RealBitcoin

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Quote from: notlist3d on October 09, 2015, 04:14:43 PM

The hardest part for me was actually kinda recent it was following the Malleability Attacks. I find it odd someone who has spend a lot of time to craft this getting to know the inner workings would want to hurt bitcoin. (http://cointelegraph.com/news/115374/the-ongoing-bitcoin-malleability-attack)

It makes me wonder if they are trying to get BTC at a lower price and quick profit. Or if someone who just does it to get attention like DDOS attacks.

I hope we learn more about the person or persons doing it and their motive.

Yep probably some organized pump and dump cartels trying to manipulate price, they push it down , buy it up , then unload for profit.

Seems like an easy way to manipulate the market because its very susceptive, until they get caught obviously.

notlist3d

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Quote from: Anmol_Verma on October 09, 2015, 09:19:15 PM

Mining is the hardest thing for me.i still don't understand it so i finally ignored.

Any certain part of mining? There are lot's of us miners here on this board.

We might be able to help, chances are good

Anmol_Verma

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Mining is the hardest thing for me.i still don't understand it so i finally ignored.

notlist3d

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Activity: 1456

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The hardest part for me was actually kinda recent it was following the Malleability Attacks. I find it odd someone who has spend a lot of time to craft this getting to know the inner workings would want to hurt bitcoin. (http://cointelegraph.com/news/115374/the-ongoing-bitcoin-malleability-attack)

It makes me wonder if they are trying to get BTC at a lower price and quick profit. Or if someone who just does it to get attention like DDOS attacks.

I hope we learn more about the person or persons doing it and their motive.

Topic: What's the hardest thing to understand about Bitcoin for you? (Read 3074 times)