Questions concerning terminology, jargon, abbreviations, acronyms and phrases that are essential to the cryptocurrency community.

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9 views

What is the meaning of bitcoin days destroyed? [duplicate]

There is a concept of bitcoin days destroyed which propose is to measure Bitcoin volume. I read on Bitcoin wiki about this a bit, but it doesn't really explain the idea in depth. What is the ...
1
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1answer
30 views

Is it accurate to refer to Bitcoin as “money”?

For example, would it be considered right if I said "I already gave you the money, Bob!" when I gave him Bitcoin?
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2answers
206 views

What is a Bitcoin wallet?

What is a wallet in the context of Bitcoin? What are wallets used for? What relation do wallets have to other concepts such as addresses, private-keys, client-software, and Bitcoin balances?
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0answers
26 views

Asteroid log question about accepted hash

I setup Asteroid to mine for fun, and I saw this log: (5s):57.30M (avg):57.34Mh/s | A:0 R:0 HW:0 WU:1.0/m [2015-08-06 12:24:25] Accepted 46156bf6 Diff 935/512 GPU 0 [2015-08-06 ...
4
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2answers
1k views

What is a mBTC?

I have been trying to find out just what is an mBTC is. Everywhere I look I cannot find out what the value is compared to a Bitcoin. I was hoping you could advise me of what the value is.
1
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1answer
76 views

“Sipa” definition? (old terminology, circa 2011-12)

Vanitygen refers to "Sipa" format here: Currently, it is difficult to import the private key into bitcoin. Sipa's showwallet branch has a new command called "importprivkey" that accepts the ...
1
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1answer
271 views

What does DOA stand for?

What does DOA stand for? I've seen this in the context of P2Pool stales, specifically here.
4
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2answers
111 views

Is there a special name for the block currently at the head of the chain?

Just as we have the genesis block which is block 0, is there a special name for the block currently at the head of the chain? Obviously such a block would be observer dependent and never absolute but ...
1
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2answers
188 views

What exactly is XBTC?

What is xbtc? I saw many articles refered xbtc,just like "btc to xbtc". But there's no material telling what it exactly is.
0
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1answer
95 views

What does it mean when a block is “kicked”?

While mining on a NOMP mining pool, I noticed that when you add the confirmed blocks and pending blocks together, they rarely add up to the total blocks found. It is my understanding that the missing ...
1
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1answer
33 views

What is NXT's “lessor”?

While reading NXT's API wiki page I came across something called a "lessor", but I can't find its definition anywhere. What is a lessor?
2
votes
1answer
58 views

Is BIP analogous to RFC?

It seems that a BIP (Bitcoin Improvement Proposal) is very similar to an RFC (Request for Comments). Can anybody confirm this, or describe major differences in the two approaches?
2
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1answer
100 views

Is there a correct way to refer to “orphan” blocks?

I was reading a passage on the bitcoin wiki that pointed out that it doesn't make sense to call invalid chains "orphans," since, by definition, every block in the blockchain except the genesis block ...
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3answers
2k views

What is a soft fork?

When people talk about possible changes to how Bitcoin works they sometimes say a particular change can be implemented as a soft fork. What does that mean? How does this compare to a hard fork?
2
votes
2answers
86 views

How do Bitcoin transactions work, and what does one need in order to send or receive one?

I am trying to understand how Bitcoin works and whether it is possible to manage a bitcoin transaction anonymously. If someone transfers a bitcoin, what do I need to sign it with? Can it be signed ...
0
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2answers
533 views

Donation wallet address

I read that wallet/account is not the same as bitcoin address. The address can be used only for single transaction. How do you receive donations on your address? Are wallet addresses unique for the ...
2
votes
1answer
156 views

What is a “mike”?

The MultiBit website mentions Bitcoin amounts being showns as "mikes": Everybody has a different way of wanting to display their balances and this is especially true when dealing with different ...
1
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1answer
102 views

How is hash rate of mining hardware calculated

The mining hardware does a double sha-256 hash of the header while mining. Is each sha-256 operation counted when determining the hash rate or is the whole sha256(sha256(header)) counted as one hash? ...
3
votes
1answer
190 views

Are There Abbreviations/Acronyms/Codes for Cryptocurrency Exchanges?

I wonder if there are any abbreviations/acronyms/codes for exchanges like Cryptsy, Kraken, and Ccex. Similar to abbreviations as seen for coins in Bitcoin = BTC and Litecoin = LTC.
4
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2answers
558 views

Who are Alice and Bob?

Simply: Who are Alice and Bob, and why are they mentioned in every Bitcoin-related article I read about that talks about Bitcoin transactions? What is the history or mystery of these two?
-1
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1answer
432 views

CPUminer minerd output confusion (OLY & crypticpool). How do I get multiple, “yay!!!” in a single block?

I'm a bit confused by the output of my minerd from cpuminer because my understanding is that there is a 3 minute block target time, but somehow I got 4 submitted hashes in less than a minute, and it ...
3
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1answer
221 views

In pooled mining, what is pdiff, bdiff and ldiff?

In pooled mining, there seem to be three different terms for difficulty in use. Apparently, the Stratum protocol uses bdiff, BTCGuild uses pdiff, and Ldiff is common for various Scrypt pools as ...
-1
votes
1answer
2k views

Yield Conversion [duplicate]

If you're mining at a yield of xBTC/Ghs how would you convert that to xBTC/Khs? For example; what would .0009231BTC/Ghs convert to in /Khs? Also, to calculate your total projected yield would you ...
-2
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0answers
9k views

What is the conversion then for MH/s to GH/s and so on [duplicate]

I've seen this answer and maybe I'm just tired What is the difference between KH/s MH/s GH/s? 1 kH/s is 1,000 hashes per second (sometimes mistakenly written KH/s). 1 MH/s is 1,000,000 ...
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3answers
2k views

Plain text for the Bitcoin symbol

It seems that the most widely used symbol for Bitcoin is a B with two vertical lines through it1. It makes sense, as a single letter with a line or two through it is common for many currencies. Is ...
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2answers
307 views

What is a worker?

Lots of cryptocoin sites and in particular mining pools use the term 'worker,' but there is no clear definition. What is a worker?
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1answer
2k views

What does “new block detected on network before long poll” mean?

I'm new to mining and I'm mining doge coins. My mining client reported new block detected on network before longpoll but it doesn't seem like I'm actually mining anything. What does this mean?
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2answers
607 views

What's the difference between a bitcoin client and wallet?

I would like to know what is the difference between a client and wallet.
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1answer
1k views

In slush pool…what does a yay!!! mean whe n using cpuminer

I am new to bit coins. I an now running slush pool. What does a yay!!! mean? Is the number of yays a good thing? I had more servers..I get more yay!!!! Thanks My bad. Here is the lib I am ...
3
votes
4answers
2k views

Is Bitcoin deflationary and inflationary at the same time?

I was wondering as Bitcoin is represented in the public and media as a deflationary currency (for more adept media as payment protocol). Is it really deflationary? Deflation is described on Wikipedia ...
-1
votes
1answer
76 views

what does less power costs parameter mean?

I see Less power costs everywhere, what is the difference between Less Power Costs vs. 24h Power Cost ? http://www.bitcoinx.com/profit/
2
votes
1answer
827 views

What does the Accepted/Rejected mean?

I'm using a Bitcoin Miner on Btc Guild. It's showing 12 Accepted, 0 Rejected. What does that mean?
3
votes
1answer
197 views

Who has named 10e-8 BTC “Satoshi”?

When and where did the term come up for the first time? Did Satoshi Nakamoto comment on the naming?
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3answers
8k views

mining for quark

I installed quarkcoin-qt and wanted to see if I can get it to mine any quarks. I opened the necessary port and it synchronized. I opened its console window and connected to the network using ...
6
votes
1answer
18k views

What does “accepted shares” mean?

I am running GUIMiner and Triplemining server. I currently have just under 100 "shares" accepted. What does this mean? What are accepted shares used for? How do accepted shares relate to "blocks"? ...
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1answer
1k views

Naming convention: MilliBit or Millibitcoins (mBTC), microbitcoin or Mikrobitcoins (╬╝BTC)?

I heard about many use: Bitcents, Bitmills (or Bitmilles) 1.02 - One bitcoin and two bitcents 0.001 - One millibitcoin (nickname "one Millie") 0.000001 - One microbitcoin (nickname "one Mike") ...
5
votes
1answer
9k views

What do `minerd`s feedback messages (LONGPOLL, yay, boo) mean?

I have been testing a script that essentially runs (incomplete command shown here!): minerd --algo scrypt -s 45 --retry-pause 5 --threads $threads --url ... Among the feedback messages, while minerd ...
1
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1answer
98 views

Is the word “coin” a proper bitcoin term?

I have noticed that some people speak of "coins". As far as I can tell, by "coin" they mean a transaction output. Is this a correct understanding? Is it helpful to use the word "coin"?
4
votes
1answer
593 views

What is “Midas”?

I've recently noticed the term "midas" creep up in crypto currency related conversations, in phrases like "might implement midas". Can anybody enlighten me on what this is, preferably with links. ...
0
votes
1answer
4k views

In bfgminer, what does Accepted mean?

While mining with a pool, I recently noticed among the numerous "Stratum from pool 0 requested" lines that bfgminer prints, one saying Accepted (hex number) CPU 2 Diff 288/2 Does this mean that ...
0
votes
3answers
2k views

what should I do when CDF is really high?

I noticed today on Bitminter that the CDF is over 99% and the block session has been running for almost 12 hours now. what causes such a high CDF and is there anything that can be done about it?
0
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1answer
7k views

guiminer shares 0 accepted 6 stale/invalid,what does the message mean? [duplicate]

I am using guiminer .The pool is deepbit.com. when I start mining, states show shares 0 accepted 6 stale/invalid What does the message mean?
0
votes
1answer
679 views

Why does “???” replace some values in this p2pool output?

2013-07-09 00:46:43.467000 P2Pool: 17468 shares in chain (17472 verified/17472 total) Peers: 9 (3 incoming) 2013-07-09 00:46:43.467000 Local: 0H/s in last 0.0 seconds Local dead on arrival: ??? ...
1
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3answers
3k views

What does “ASIC” mean?

I stumbled on the terms "ASIC" and " ASIC Miner", what do they mean? Is this something related to special hardware?
20
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4answers
7k views

What is meant by Bitcoin dust?

I've seen the term "dust" used to describe small transactions that might be considered as spam by the Bitcoin network. Is there is a generally accepted definition of this term?
1
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3answers
1k views

Mining computations by the numbers [duplicate]

On average, how many "computations" (GPU computations, CPU computations, CPU cycles, etc.) does it take to solve a block ("win" a mining race)? What are these computations measured in? Operations? ...
1
vote
3answers
372 views

Mining operations: what's allowed and what's not?

I understand that miner's compete to create blocks that meet certain (very specific) cryptographic criteria. However, I'm still having trouble seeing the "forest through the trees" here, and have a ...
9
votes
4answers
137k views

What is the difference between kH/s, MH/s, and GH/s?

I started mining on a friend's computer and it shows 300 kH/s. But when I research other peoples' hash rates I usually see MH/s. Are these speeds the same as kilobytes and megabytes? Also, when I say ...
1
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1answer
400 views

What does it mean that fork is required? [duplicate]

In bitcoin related discussions people often say that something may require a "hard fork". What do they mean? What is a fork?
6
votes
1answer
146 views

What is the correct term for bitcoin market cap?

Market capitalization is a term that is usually used to refer to the total value of the shares of a company. Given that bitcoin is not a company, is there a better term than market cap that we should ...