Hot answers tagged

20

Script was in the first version of Bitcoin. Satoshi developed Bitcoin in private before releasing the fully-usable Bitcoin 0.1, and he said very little about his thought-process, so we'll probably never know exactly why many things were done the way they were. Script had several serious bugs when Bitcoin was first released, and some bugs still exist. It's ...


18

At the beginning of Bitcoin, every newly mined block (about every 10 minutes) creates 50 bitcoins. This is called the block subsidy. About every 4 years, this number cuts in half. Therefore, the peak extraction rate was about the first 4 years of Bitcoin's existence. In fact, it was from 3 January 2009 to 28 November 2012. The block reward includes both the ...


18

According to comments by the project's founder, Bitcoin's issuance rate was indeed inspired by that of precious metals. However, it is implemented algorithmically, of course, which artificially limits the issuance rate rather than actually being an abundant resource getting consumed over time. The bitcoin reward schedule halves the block subsidy every 210,...


13

I've got an answer on Reddit: It's likely to have been written in a PM or an email to some developers, and it seems that Mike Hearn (BitcoinJ) was the one who published this statement: Mike Hearn - February 25, 2013, 12:48:54 PM He communicated with a few of the core developers before leaving. He told myself and Gavin that he had moved on to other ...


9

Have a look at the early sources here: http://www.bitcointrading.com/forum/bitcoin-clients/original-bitcoin-source-code-archives/ there is a small piece of code in script.cpp: case OP_RETURN: { pc = pend; } break; which allows to spend ANY UTXO with just a very simple scriptSig OP_1 OP_RETURN


8

According to Bitcoin and Cryptocurrency Technologies (BaCT), the Princeton Bitcoin textbook, the block chain dates back to a "paper by Haber and Stornetta in 1991. Their proposal was a method for secure timestamping of digitaldocuments, rather than a digital money scheme." (BaCT p.15) The chaining of Merkle trees instead of single documents was proposed in ...


8

Pay to Public Key Hash has existed for the entirety of Bitcoin's life. P2PKH addresses have existed since the earliest release of Bitcoin. Creating P2PKH addresses and sending to P2PKH addresses was possible to do with Bitcoin 0.1.0. However these early versions of Bitcoin also supported a Pay to IP address feature where your wallet would contact the ...


7

This is a known bug in the early days of bitcoin. Was fixed by BIP-30 https://github.com/bitcoin/bips/blob/master/bip-0030.mediawiki There is a discussion here: https://bitcointalk.org/index.php?topic=216938 And yes, 50+50 bitcoins are missed forever. In fact, there are much more missed bitcoins. For example, 2500 bitcoins were gone to nowhere in block ...


7

Yes - it's feasible. Bitcoins are released at a constant rate determined by the protocol. At the time, 50 Bitcoins were being generated for every block(this is now 25); and blocks are supposed to be found every 10 minutes. Miners compete amongst each other for this prize. In 2009, you could mine using your computer's CPU and you were only competing with ...


7

Bitcoin Pizza Day is celebrated on May 22nd. On this day in 2010, a BitcoinTalk member bought pizza in exchange for 10,000 BTC. This represents more or less the first known transaction using bitcoins for actual goods. The original post: Laszlo announcing his purchase in 2010 The significance has been growing especially now, because... of how much that 10,...


6

This is what I see for a search on pgp.mit.eud, which points to this key: That is a surprising result. If we download the key purported to be Nakamoto's from Bitcoin.org, we get the following fingerprint: pub 1024D/5EC948A1 2008-10-30 Key fingerprint = DE4E FCA3 E1AB 9E41 CE96 CECB 18C0 9E86 5EC9 48A1 uid Satoshi Nakamoto <...


6

According to the mailing list archives, the mailing list received Satoshi's email at Fri Oct 31 14:10:00 EDT 2008. However the mailing list is moderated so perhaps the email was not received by everyone until a day later on November 1st. The first response to the email was sent on November 2nd, so it may be that the email was not forwarded to the list for a ...


6

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 altcoin was actually Namecoin, announced in April 2011. Namecoin was actively used and mined, and can still be used today.


6

As of June 19 2019, using the following query: bitcoin-indexer=> select reverse_bytes(output_tx.hash_id || output_tx.hash_rest), output.tx_idx, output_tx.current_height, input_tx.current_height, input_tx.current_height - output_tx.current_height from output inner join input on input.output_tx_hash_id = output.tx_hash_id AND input.output_tx_idx = ...


6

The renaming was merged in December 2013 with prior discussion on this GitHub issue. The general motivation was to distinguish between one particular implementation of the Bitcoin protocol (many refer to Bitcoin Core as the "reference implementation") versus other implementations (libbitcoin, btcd, bcoin, bitcoin-s etc) that either existed at the ...


6

Try https://satoshi.nakamotoinstitute.org I believe this group has attempted to consolidate all known messages written by Satoshi Nakamoto on their site.


5

I'll list the mentions I've found in reverse chronological order. It first showed up on StackExchange on August 30, 2011. However, I often hear the term Satoshi as if it was a monetary unit. rebuilder discussed the divisibility of Bitcion on March 23, 2011. I'll use the term "Satoshi", as previously coined by others, to mean the current smallest ...


5

Sipa is the alias of Pieter Wuille, a Bitcoin Core developer. It just happens that he had a feature branch for the rpc command importprivkey, and people just referred to it as the "sipa" format. It's just something that has hung around in vanitygen and a few places on the Bitcointalk forum, it's not in common use anywhere else. The format being talked about ...


5

This is not true. Code and code comments in v0.1.5 (the oldest tagged version in git) enforce that there always is a coinbase transaction and that it must always be the first. There cannot be a coinbase transaction elsewhere in the block. Coinbase transactions are defined as transactions with one input whose previous transaction hash is all 0's and whose ...


5

It depends on how you define release. Satoshi sent the email to the Cryptography mailing list on Jan 8 2009 UTC. However because the Cryptography mailing list is moderated, that email did not reach email subscribers until Jan 9 or 10 2009 (it's actually Jan 10 2009 at 1 AM UTC). The discrepancy you see is that many people refer to The Mail Archive source. ...


4

That is clearly incorrect. His whitepaper was released on October 31st, 2008 via the metzdowd mailing list Bitcoin P2P e-cash paper Satoshi Nakamoto satoshi at vistomail.com Fri Oct 31 14:10:00 EDT 2008 Previous message: Fw: SHA-3 lounge Messages sorted by: [ date ] [ thread ] [ subject ] [ author] I've been working on a new electronic ...


4

https://en.bitcoin.it/wiki/Mining_hardware_comparison and https://en.bitcoin.it/wiki/Non-specialized_hardware_comparison are the canonical lists. I'm not sure that will be useful to you; there's approximately 940 products across the two lists. If you're making a visual presentation of how mining hardware evolved, you might also find this thread useful.


4

Jeff Garzik received an Avalon miner on january 30th, 2013 and posted pictures at http://garzikrants.blogspot.com/2013/01/once-upon-time-in-china-package-shipped.html and http://garzikrants.blogspot.com/2013/01/avalon-modular-room-to-expand.html The next day he posted a review at http://garzikrants.blogspot.com/2013/01/avalon-asic-miner-review.html For ...


4

There are different ways of interacting with Bitcoin. If you just want to make an occasional payment, and don't want to handle large sums, you'll probably be happy to run a Thin Client on your smartphone. They rely on full nodes to provide data, but when you wait for a few confirmations are sufficiently secure. To learn more about different types of wallets, ...


3

In November 2013 a transaction for 194,993 BTC at the time worth $149 Million was sent.


3

My current real-time estimate using https://github.com/ayeowch/bitnodes is 8000 to 10000 nodes that are reachable at any one time with churn rate of 300 to 500 nodes every 5 minutes. The churn could be due to several factors, e.g. Node went offline Node reached max. allowed connections Time of day, e.g. more nodes are online during US working hours Network ...


3

In the beginning, the Standard Client mined blocks by default. The difficulty was low enough that a single computer could reasonably create blocks just with its CPU. The Standard Client stopped CPU mining by default when GPU mining became prevalent. Early blocks were most likely mined by Satoshi and other first adopters. One can see that the Genesis Block ...


3

Slush on December 16th 2010 http://mining.bitcoin.cz https://en.bitcoin.it/wiki/History Was that what you were looking for?


3

It looks like a factual error. It was introduced in this edit. The editor should be contacted about what lead him to this information. Also, the mailing list post was from Nov 1 and not 11 as you wrote.


3

If you mean the greatest amount of bitcoin spent, the "bitcoin pizza" comes to mind. At a whopping 10k BTC spent. Pizza for bitcoins? (bitcointalk.org)


Only top voted, non community-wiki answers of a minimum length are eligible