New answers tagged

0

Most block-chains are actually mutable in some way and this has some advantages. This came clear in some incidents where a bug or a flaw in a chain was exploited resulting in many people losing a large amount of assets. Afterwards people would hard fork a previous state of the chain and continue from there, after getting the consensus of the community. ...


14

No, it is not safe. Never share your 12 word phrase. It is a backup of your private key and allows people to spend your money. They only need your public key or Bitcoin address to give you money, not your private key.


0

What would happen to Bitcoin if the internet or power would be shut down for a moment It depends how long that moment is. Generally there would be no long-term harmful effect on Bitcoin for any outage of a few minutes or even several hours. Longer outages of many days or weeks would skew the next recalculation of mining difficulty and result in blocks being ...


2

Inside each block there is an eighty bytes block header with space for exactly one previous block hash of length 32 bytes. So, no, you can not create multiple children/parent in normal scenario. But, sometimes there is a fork, there there will be multiple next block from a single block. Theoretically there could be unlimited number of such things, but for ...


2

You can't merge them, but you can just copy the old blocks/ and chainstate/ subdirectories of an old install that you trust. It'll just continue where you left off then.


0

The to_self_delay is a parameter set by the funder of a channel when initiating its creation. The fundee may or may not like it and as a consequence accept or refuse the opening request. As currently specified, the Lightning Network does not permit the update of this parameter once the channel is opened. It presents some engineering challenges (mainly ...


0

According to the protocol specification at BOLT 2 the open_channel messages suggest [u16:to_self_delay] it further says to_self_delay is the number of blocks that the other node's to-self outputs must be delayed, using OP_CHECKSEQUENCEVERIFY delays; this is how long it will have to wait in case of breakdown before redeeming its own funds. and The sending ...


1

There are different concerns about the needs transactions and blocks have. Transactions are created by wallets and other software, whenever they want to transact. We generally want a system that supports anyone creating transactions at any time, with as little coordination needed with other parties, and with as much volume/frequency as possible. Blocks on ...


2

BitCoin burning is the process by which digital currency miners and developers can remove bitcoins from circulation I think you'll find that "Bitcoin burning" refers to owners of Bitcoin burning their own money (not anyone elses) by the equivalent of sending it to an address that no-one owns. It is not something that miners or developers do with ...


1

Are they lying about something? Not really. This would be like if you put a bunch of money in a vault, threw away the key, buried the vault, and then wiped your memory so you don't know where it's buried. Would that be fraud?


0

If i have some one BTC to BTC receiver address can i trace name or wallet id or something? Generally no. Blockchain.com might be able to. That's why I would be wary of using their "wallet" and why I'd use one of the non-custodial wallet (self-custodial wallet) listed at https://bitcoin.org/en/choose-your-wallet if i generate multiple btc to btc ...


0

double hashed format: ie SHA256(SHA256(rawtransaction)) Your understanding of this is very, very wrong. The data structure stored in a blockchain is not double hashed. Instead there are two hashes stored in the data structure. Instead of SHA256(SHA256(rawtransaction)). You should visualize the blockchain data structure as: struct Block { Transactions[] ...


10

This is a question of definition. The blockchain doesn't store anything, it's an abstract data structure that's collectively maintained by nodes in a network. Those nodes are the ones that store things. That may or may not include the actual transaction data - it doesn't matter. The Bitcoin blockchain consists of hash-linked block headers. Every block header ...


4

The only right way of of doing this is generating a new address for every expected payment, and then waiting until you've received that amount on that address.


-5

Honestly you should be involving several federal agencies if you've misplaced your billion dollars. FBI, IRS, SEC, Secret Service, Attorney General, 911.... Tip: for your next billion, maybe put your bitcoins in a bank, where it's federally insured.


-3

@Adjam, this should definitely be investigated. Perhaps a memory exercise would help you recall the associated circumstances. Think back to 2014. You were running Bitcoin. April. A single Bitcoin was worth $505. You're watching TV, eating Cheetos. Somebody sends you $12.6 million dollars. Then what happened? p.s. hello Pieter! p.p.s. Also, did anyone ...


2

I'm afraid you won't be able to access these funds. How do I access these BTC and get them onto the blockchain? I could be wrong but I believe that it's such an old unconfirmed transaction that it doesn't even show on the blockchain. The transaction is not, and has never been, confirmed on chain. From the perspective of the network, it doesn't exist. So ...


0

Try copying the transaction into electrum and see if you can sign & broadcast it there yourself. It's under Tools -> Load transaction -> From text. It opens a new window where you can paste the transaction. If electrum has the correct private key available, it will offer you the options to sign & broadcast the transaction. Ideally always avoid ...


0

Likely the transaction will be kicked out of the pool - purging it from the node's "memory". Its hard to imagine that there would be a transaction that would qualify for that treatment with one node, but not for others. But anything is possible. If that were the case, then that transaction would just remain hanging in the mempool for that ...


-1

One chance to get the funds back would be catching the scammer with analytical methods. Not all companies offering this are scamming (I program for two companies doing it honestly) but the warning is important because at least 90% offering this are scammers. You recognize them because they give great promises before investigating the case. E.g. if the ...


0

Don't use the same computer for any financial stuff incl. Bitcoin anymore unless it's setup with a fresh OS. But against other advises you should save all data on a stick you might need the evidences for the time when the scammer is caught. If you have another computer just use the other one until this case is close. And it's the right thing to get better ...


1

To be completely safe, you should throw away every piece of information and data to do with the old wallets used or accessed by the scammer. user-ids, passwords, recovery phrases, backups, keys, addresses and anything else that is related to anything the scammer had access to. Those wallets and the keys in them are forever unsafe. Even if you reset passwords,...


2

I think block propagation delay is the only limiting factor in increasing block size. This assumption is not accurate. While block propagation time is an important parameter for fair competition among miners, the block size also affects initial synchronization times of new nodes, disk space for archival nodes, and bandwidth (especially upload) requirements ...


0

It looks like your money was stolen. Either the app is fake or broken or someone had access to your wallet at sometime (maybe they helped you set it up). A blockchain explorer shows (most recent at top) Transactions involving address Hash: c423c3d9d4e72b16cbfb3a3c1a47c578a56f51bf00be4ecb07c588d957f7cf46 2021-05-21 01:01 55 confirmations Privacy score: 55 ...


1

Bitcoin doesn't really care about balances, accounts, people or ownership. It doesn't need to know about any of those things. Read the above sentence again. It is true. It has many important implications. Bitcoin is cash, not an account. There's no system that tells a pizza storekeeper how many $10 bills (banknotes) you have under your mattress. The pizza ...


1

When accountants calculate the current years income, they don't go back to when the company started and add up every income and expense item, they just add the current years results to the archived past totals. What am I missing. The accountants won't start from the beginning, because they will have already done all of those calculations in previous years. ...


1

Perhaps more a clarification than an answer: there is absolutely no need for validating nodes to keep a copy of the full historical blockchain around, and it's unnecessary to have access to the chain's data for validation. Storing the block data or not is pretty much irrelevant for energy usage. In Bitcoin Core (a fully-validating node that's often ...


2

There is no difference between those two things. If you have a data set that includes only things that you have fully validated all of and you confirm that something is in that data set, you have fully validated all of it. So checking that it's in a data set of things you have validated cannot be done instead of validating the entire chain because it does ...


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