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22 votes
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What does it mean for a cryptocurrency to be ASIC-resistant?

It means that there will be no significant speedup by implementing the algorithm in an ASIC, as compared to a CPU based implementation. This is usually achieved by requiring a lot of memory, which ...
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20 votes
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Are Monero Transaction Anonymous?

Short answer: yes, it will be anonymous Long answer: The following applies to all Cryptonote based coins, unless stated otherwise: On the blockchain, all addresses are one time addresses. In ...
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  • 786
15 votes

What does it mean for a cryptocurrency to be ASIC-resistant?

An ASIC is another way of running a program or calculation or what have you (in our case mining) using a PCB/Hardware instead of Software running on a general purpose computer. GPUs are technically ...
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  • 261
14 votes
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What advantages do "alt-coins" have over bitcoin?

It depends a lot on the specific altcoin you're talking about. For the most part, there aren't a lot of major differences between Bitcoin and the alts. Sadly many of them exist only as the leftovers ...
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  • 14.3k
13 votes
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Why is it harder to compute nonce for a hash with a certain number zero prefixes than it is for any other hash?

A hash is 256 bits long, so there are 2^256 possible hashes in the hash space. But if you assert that the hash has to begin with a 0, that halves the number of hashes that are allowed (and thus ...
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  • 11.3k
11 votes
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What is Steem and Steemit?

Steem content is rewarded based on a voting system, described well here: https://steemit.com/steem/@smooth/voting-is-a-popularity-contest Not that payment is made in Steem not fiat and Steem value ...
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10 votes
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What percentage of altcoins are based on Bitcoin?

Map of Coins is a great resource for this. As of May 2016 they are tracking a total of 710 cryptocurrencies. Of those, 667 are based on Bitcoin's code, which is 94%!
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9 votes
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How is a side-chain merging back to Bitcoin chain protected against double-spend? Where are the side-chain mining fees?

As Mikka explains, sidechains don't need to create their own currency, using bitcoins in the sidechain is precisely the point of two-way peg (there's no reason why an altchain with its own currency, ...
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  • 578
9 votes

I've tried everything from mining bitcoin to litecoin to other altcoins....why do I have no luck?

Laptop mining worked well in 2009. It is no longer 2009. Your integrated Intel GPU has the speed of a CPU, not a fast gaming GPU. Even in 2011 when CPU mining was dying and people mined on GPUs your ...
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  • 8,319
9 votes

Why would I choose to use Bitcoin and not other crypto currencies like Ethereum or Dash? Why is Bitcoin better or worse than the rest?

I find this article convincing in its analysis of the dynamics between Bitcoin and competing networks: The Coming Demise of the Altcoins To summarize briefly, the author suggests: The utility ...
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  • 62.5k
9 votes

What are the differences (and value adds) among all the different Crypto Currencies?

99% of altcoins claim an "innovation" that is broken or unproven. I would say that the first thing to do is look at unique codebases that aren't based on Bitcoin, which basically means (besides ...
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9 votes

How can forks coexist even though only one of the is the longest chain?

For one, Litecoin is not a fork of Bitcoin. It relies on the same base code, but it is a separate network, and they do not share the genesis block. Bitcoin Cash is a true fork of Bitcoin, in the ...
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  • 16.4k
8 votes
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Where can I find historical price of altcoins?

I run alt19, which is a free site which offers historical trade data on a large number of altcoins in CSV format. We have data at 15 minute, 1 hour, and 1 day increments. http://alt19.com
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  • 94
8 votes

Should I start to buy OneCoin?

Onecoin is not only a scam it is a criminal organization. The have stolen a lot of money from their customers. http://rettit.no/mrbitcoin/index.php?title=OneCoinSCAM
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7 votes
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How do altcoins tell each other apart?

Because all these altcoins run on different TCP ports and furthermore (fair) nodes won't relay invalid messages (wrong blockchain, i.e. based on different genesis block, different magic value, etc.) ...
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  • 1,570
7 votes

What are the differences (and value adds) among all the different Crypto Currencies?

A very large majority of these altcoins are essentially scams. There is a cottage industry that takes a coin, changes something minor (name, logo), and releases it with great fanfare, enticing people ...
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  • 786
7 votes
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Determine address balance using bitcoin core

AFAIK, this can't be done in any reasonable way with Bitcoin Core and its derivatives. The only way I know to do it with Bitcoin Core is to use importaddress or importmulti to add your address(es) to ...
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6 votes
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Heartbleed bug and Altcoins

I've done a little research on this as it was a big concern, not to worry! This is only an issue if you have a bitcoin (or altcoin) daemon set up with RPC over HTTPS. This would only be used if say, ...
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  • 1,679
6 votes

how is Proof of Burn policed to prevent simultaneous buying into multiple alt currencies?

One approach to proof of burn is that you burn coins by sending them to a particular address specified by the altcoin. For instance, with Counterparty, you could collect XCP by sending bitcoins to ...
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6 votes
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What was the first altcoin?

Litecoin was not the first altcoin. It actually uses ideas for altcoins that precede it but had died before it was created. This is mentioned in its announcement thread on bitcointalk.. The very first ...
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  • 60.6k
5 votes

How can Auroracoin be the 4th crypto-coin by market cap if it's unreleased yet?

Turns out I was wrong. It is mineable right away and it is actively being traded in different exchanges, as cryptorush.in and cryptsy. What hasn't happened yet is the release of the pre-mined coins (...
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  • 2,128
5 votes

I want to generate a BIP32 version number for Namecoin and other altcoins

I can not tell you really how you generate them, but to partially answer your question, here is a list of known Bitcoin and Altcoin prefixes, including Litecoin and Darkcoin: EXT_SECRET_KEY, ...
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  • 1,376
5 votes

How does Dash achieve anonymity without centralisation?

TL;DR yes, it's still decentralized, no it isn't perfectly anonymous. From the Darkcoin (now Dash) Wikipedia: "It adds privacy to transactions by combining identical inputs from multiple users into a ...
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5 votes

Why can't we expire two year old transactions?

One big reason against this sort of thing is that it creates a huge incentive for bad people to try to prevent you to do transactions (censor you). If miners get the "lost" bitcoins they might ...
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  • 6,169
5 votes

Cryptocurrency with small block size limit or large block time

I am not aware of any cryptocurrency that has block times of greater than 10 minutes, but I am very familiar with the desire to limit growth of the block chain. Monero recently increased its block ...
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5 votes
Accepted

Why is a short blocktime considered to be unsafe?

The shorter the blocktime the more time is lost by the relaying of blocks in relation to the average blocktime. A very short block interval therefore makes SPV mining (i.e. mining empty blocks without ...
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  • 62.5k
5 votes

Why would I choose to use Bitcoin and not other crypto currencies like Ethereum or Dash? Why is Bitcoin better or worse than the rest?

Bitcoin was the first, the most well known and thus has the most network effect. The network effect is extremely important and there are examples were better technologies lost to the competition ...
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  • 2,204
5 votes

Why is it harder to compute nonce for a hash with a certain number zero prefixes than it is for any other hash?

Finding a hash that is less than the target requires more work (not harder, there is nothing that makes hashing harder to do), i.e. more hashes. This is because there are more numbers with more digits ...
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  • 60.6k
5 votes
Accepted

Is there a list of coins that are bip-32 compatible?

Bip-32 allows me to dereive keys based off a root key pair, and all these keys will be on the secp256k1 curve. This is actually not true. The BIP32 proposal simply states that (emphasis mine): In ...
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  • 16.4k

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