New answers tagged blockchain
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Send all unclaimed bitcoins to
JAMES FiISHER
2485 Midvale St. Dayton, Ohio 45420
Thank you!
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Any sites, forums dedicated to developers new to bitcoin
https://bitcoin.stackexchange.com
And if you your question is closed here then, https://reddit.com/r/bitcoin
IRC: #bitcoin-core-pr-reviews IRC channel on freenode
Slack: https://bitcoincore.slack.com, https://lightningdevkit.slack.com, https://lightningcommunity.slack.com and https://suredbits.slack....
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Blockchain.com is a commercial enterprise selling cryptocurrency services. So this list cannot be the official ledger
Ledger vs Journal
The word "ledger" is a commonly used misnomer. If we want to use accounting terms we ought to say "journal" as the Bitcoin blockchain is much more like a transaction journal than an accounting ledger.
...
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The UTXO (unspent transaction output) set is what is being referred to as the “ledger”.
This is a table that lists all the unspent outputs along with their value. Each unspent output corresponds to an address but each address can contain multiple outputs. The sum of unspent outputs equals the total coins in circulation (around 18.600.0000 BTC as of now)
Each ...
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I suggest a few resources that will help you understand bitcoin better. You can go through 3blue1brown's video on Bitcoin.
Some of the Bitcoin's earliest ideological supporters were ideologically Anarchists, but most supporters would self-identify as Libertarians. The reasons to support Bitcoin has mostly been motivated by the idea that Government and Money ...
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My most pressing question is this: who or what am I supporting when I buy bitcoin or ether? Did I unwittingly support the overthrow of governments when I bought crypto?
No, buying Gold in the US or buying USD in China/Russia doesn't make you a terrorist. It makes you an investor.
Lastly, who benefited the most in the early days of crypto? The miners? ...
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What can I do ...
Re-import the addresses
to recover the funds?
Imported addresses are called "watch-only" or "unspendable" addresses.
If you ever had control over the money at these imported addreeses you would have had a private-key somewhere for them.
To give your current wallet control over that money (the ability to spend it) - ...
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There are transactions, and blocks. Both have their own unique identifiers, which are calculated as a hash of all the data in it.
When a transaction is included in a block, its hash (txid) doesn't change. It just becomes part of a block. That block also has a hash, which depends on the hash of the parent block, as well as on the hash of all transactions ...
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If you have a custodial account with Exchange.blockchain.com, you must contact them for help. They own the money, not you ("Not your keys -- not your bitcoin").
If you have a non-custodial wallet downloaded from Blockchain.com, you should normally recover control over your money by restoring the wallet from a backup or from a safely stored record ...
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The best strategy really depends on the user. You distinguish tradeoffs in all these solutions:
Open a new channel each time
This one does not make sense.
Open 10 channel for 0.01 BTC
More exposure to DOS (and onchain fees), but less exposure to censorship.
Probably the solution which makes the most of sense (or 5 channels for 2mBTC) since MPP.
Open 1 ...
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How do miners decide how many transactions they should have in a block in order to mine 1 bitcoin?
The amount of work miners do has no impact on the amount of Bitcoin they make. The block subsidy is a fixed amount, and transaction fees are determined from transactions. Mining 1 Bitcoin does not require some specific amount of work.
Miners determine how many ...
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It turns out that the reason the transfer didn't go through was because of a copy/paste error. The Bitcoin address I wanted to use didn't copy properly and I ended up using one that was stored in the clipboard from a previous transfer. As I know who the recipient is, there is, fortunately, a chance I might get the money back :-)
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Running Bitcoin Core is not a problem for modern computers, and as computer technology is always improving, it will be able to keep up. Computers are very good at processing blockchain data, and that data will be finite not infinite.
If you get involved with Bitcoin core on GitHub, you will get an insight into how it works and you will find other people that ...
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Can grow to unlimited size?
The bitcoin blockchain is designed to produce 1 block (1-2 MB) every 10 minutes, every 2 weeks epoch unix time the difficulty of producing is readjusted so that this frequency does not change.
I have to verify, by checking every block of theoretically unlimited count?
Since the size is limited its grow can be kept under control,...
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I don't know how much it will help, but you can search for the transaction using the Bitcoin addresses on a Block explorer, then maybe you can see if the destination address was wrong:
https://www.blockchain.com/explorer
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How do internet wallets such as Coinbase connect to the a blockchain node?
Using an API provided for that purpose. For example Bitcoin core's API
Doesn’t the node itself create a default wallet object on startup?
Not all nodes are based on Bitcoin core. Apart from the development costs there is nothing that prevents exchanges writing their own software to ...
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A blockchain is composed of many blocks. The bitcoin blockchain has 660,000+ blocks currently. Bitcoin blocks are limited by the Bitcoin rules to be at most 4KWU (kilo weight units). This is equivalent to 1MB of data per block, however, thanks to the Segwit upgrade, additional information can be stored in each block, making the maximum possible data per ...
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There are approximately 800,000 unique addresses on the blockchain with some Bitcoin held at those addresses at the present time according to blockchain.com.
Let's assume these addresses are all bech32 (to simplify the calculation, in reality these are the minority).
The witness program in a bech32 SegWit v0 P2WSH address is 32 bytes. In theory this means ...
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Changing the previous block hash in all of the subsequent block hashes will change those block's hashes too. They become different blocks and are treated as different blocks by nodes. When other nodes try to verify those other blocks, they will extremely likely compute a block hash which does not meet the Proof of Work requirement, and thus those blocks ...
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A consensus is an agreement between several agents. So it's always distributed in that sense.
But here it is about the process of how to achieve such consensus.
It's not dictated by one master. But agreed on by distributed voting.
Due to temporal logic being a nasty beast, you can't assume everyone to be on the same page at a specific point of time. But ...
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About your new diagram: https://imgur.com/a/RaRgWEb
Firstly "execute mining software" implies that you have maybe at least 1% of the network hash and solo mining. Otherwise, the process is just:
Use the stratum protocol to receive the block template and the difficulty target
Attempt hashes until the block is valid in hardware.
Then every node ...
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Does this flowchart accurately show the step-by-step workings of a typical crypto-miner software?
No.
Just to take one example of many errors:
Verification node sends reward (mined coins) to miner's software.
This is not how Bitcoin mining works at all. The Bitcoin whitepaper does not define Bitcoin nodes that are specifically verification nodes nor does ...
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I will only be rewarded with the fees with respect to the calculations I have made.
That's not correct. If you don't mine a complete block, you get nothing at all.
Joining a pool will let you get a proportional share of the income (from both the block subsidy and the fees), changing the game from a lottery to a more predictable payout based on your ...
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I’m building a cryptocurrency marketplace where users mainly buy and sell small ticket items (worth $10 - $50) using cryptocurrency. However, the "miner fees" are making it prohibitively expensive to run.
Use segwit for on-chain transactions, batching wherever possible, UTXO consolidation over weekends once you have lot of small inputs and use ...
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As @chytrik already described, address reuse does not solve your problem for UTXO-based coins, each transaction output must be individually referenced regardless.
When your users deposit into your site, you want to give them separate addresses, so that you can track whose internal balance should be credited. After that, the funds are in your custody, though. ...
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One solution to this problem might be to have all users of the site deposit funds to a single cryptocurrency address
This is definitely not a solution to the problem you've outlined. When creating a transaction, there is no difference between consolidating many payments that were made to the same address, and consolidating many payments that were made to ...
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It's not a valid working process: all transactions commit to the block hash.
First of all a miner cannot "find a right hash" then insert a double-spend transaction. This would invalidate the hash (and the block, actually).
For the same reason, a node receiving the block cannot malleate the coinbase transaction. It would not be able to "...
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Yes,
Install a fresh copy of the wallet on a different device and during installation use the option to recover a wallet from the private key (so it doesn't generate a new one)
Don't use the existing device in case something goes wrong and makes things worse.
A more specific answer isn't possible without knowing exactly what wallet you are using.
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