23

The Bitcoin Improvement Proposal that defines the Bitcoin URI scheme is BIP21. The simple syntax is: bitcoin:<address>[?amount=<amount>][?label=<label>][?message=<message>] On the desktop all of Armory, Electrum and MultiBit respond to Bitcoin URI clicks in a browser and I believe Bitcoin-QT V0.7 does as well. On mobiles Android ...


12

Modern computers almost always use little-endian internally, so this choice improves speed. If Bitcoin used network byte order, then order conversions would be necessary for every message sent or received. Hashes are defined by the standards as being big-endian, and crypto libraries deal with them in that form, so hashes are transmitted in big-endian. ...


10

Bitcoin is a mathematically secured currency system which enables ultra low fee internet commerce using coins and fractions of coins which are in some ways similar to traditional cash. Acting something like a shared accounting ledger, the record of all transactions is stored in a semi-anonymous way within the network of bitcoin participants. This means ...


10

distributed digital currency, or distributed digital crypto-currency. the "distributed" bit is a key issue - anyone can make a centralized digital currency, even with crypto thrown in.


9

The value of a Satoshi is fixed. The key word is "currently" (smallest currently possible). If the divisibility is ever increased, a Satoshi will still be exactly 0.00000001 BTC, even though there exists unit representing an even smaller amount. There would need to be new names for these new denominations that are even smaller than a Satoshi, but dSatoshi ...


9

Most likely it is a small design error, but there is big argument about it at bitcointalk.org:What would you change about the Bitcoin protocol?.


9

It's called crypto-currency, Wikipedia article.


9

Quite concisely, bitcoin is to money what email was to letters . . . and the post office is in trouble.


7

Bitcoin is an internet currency. Bitcoin is a decentralized currency. Bitcoin is a predictable currency. Bitcoin is open source. Bitcoin is getting stronger every day. Bitcoin is an experiment that has grown rapidly as interest in the idea spreads. Bitcoin makes it easier to sell things over the internet. Bitcoin allows anyone to pay anyone else. Bitcoin has ...


7

Little endian. See, for example, the script_PushData unit test in the source tree that pushes one 0x5a byte onto the stack 4 different ways: // Check that PUSHDATA1, PUSHDATA2, and PUSHDATA4 create the same value on // the stack as the 1-75 opcodes do. ...


7

I don't know about the rest of the string but I think the leading bytes are ordered that way to make the types of "addresses" be human reconizable. From a quick look at the source I think the leading characters, rpshnaf map like so: r = public Ripple address p = node private s = Ripple secret h = ? n = node public a = address family generator or seed ? f = ...


6

Like Murch said, there isn't a current text based symbol for it, but if you're going to use it on a web application, you can always use Font Awesome. After you include the fontawesome library, you use the bitcoin symbol like this: <i class="fa fa-btc"></i> fa-btc Example output of the code above would be: You can find more information ...


5

The system is using integers to represent amounts. 1 satoshi is the smallest unit (integer one). The satoshi is the base unit of the protocol (not the bitcoin). It would be very hard to change this to support more decimals, but it seems also extremely unlikely that the need arises. With 21 millions bitcoins (i.e. 2,100,000,000,000,000 satoshi) in total, ...


5

The format of messages occasionally needs to change. This is done in a backward-compatible way by exchanging versions in version messages and communicating in the "language" of the client with the lowest version. Through this mechanism, clients running version 0.1 should still be able to talk to the latest clients. Blocks and transactions are special. When ...


5

The Bouncy Castle project allows for this and it runs on the Java VM (as was mentioned earlier) as well as the .NET Runtime. An example of using it in C# is shown in this blog post. You can use the .NET version from Visual Basic .NET (as well as any of the other languages on the CLR as well, obviously). For C++, look at the Crypto++ library which supports ...


5

Bitcoin is the currency of the future. In order to understand why this is true, there are two key pieces of information that a person must have: The first is an understanding of how money actually works: how it is created, how it enters the marketplace, and what exactly makes it valuable. The second is an understanding of the Bitcoin community and system. ...


4

There's a good reason for why when people try to understand Bitcoin and ask the most obvious question "What is it?" they only get even more confused and discouraged. This reason is the fact that this question doesn't really have a single concrete answer and usually receives multiple answers from those who do understand it that include a lot of technical ...


4

The realistic, honest answer to this question is that Bitcoin is a "Digital Commodity". Bitcoin cannot currently be described as a digital currency since it cannot, practically, fulfill the basic functions of a currency. The wildly fluctuating USD/BTC exchange rate alone means there is price instability. How would YOU like to offer your labour for a few ...


4

Recently I stumbled across this question as I was supposed to explain what Bitcoin was to my 5-year-old nephew. As the question states that it needs to explain the concept of bitcoin to a non-technical person, I took it a step further and explained it to the kid, who knows nothing (literally). So here goes my 2 satoshis on what is the best explanation (...


4

https://en.bitcoin.it/wiki/Vocabulary


4

I got the common Bitcoin symbol (B with two lines) approved for addition to Unicode as U+20BF last year. It will hopefully become part of the next Unicode standard in June and then it can be used in text. The character (₿) is already supported by iOS and macOS.


4

This is the PR that made OP_RETURN outputs standard: https://github.com/bitcoin/bitcoin/pull/2738 The commit: https://github.com/jgarzik/bitcoin/commit/a79342479f577013f2fd2573fb32585d6f4981b3 The current code: https://github.com/bitcoin/bitcoin/blob/v0.11.0/src/script/standard.cpp#L56-L58 if (GetBoolArg("-datacarrier", true)) ...


3

The Bouncy Castle library provides support for all languages on the Java VM This library (and now a derivative library called Spongy Castle) is used in the BitCoinJ library. The Bouncy Castle library was unfortunately implemented badly in Android which lead to code conflicts that required complex workarounds. Spongy Castle solved those problems making the ...


3

For non-technical users, I found this video to be extremely clear and helpful in explaining the details of how Bitcoin works: How Bitcoin Works Under the Hood


3

Bitcoin is completely decentralized. Most terms in use today "pools", "51% attack", "miner", "rigs", "stales" came about simply because they were adopted by most users of bitcoin. In addition to the IRC options already given, http://bitcointalk.org has a general discussion forum which may finds some interest if you start a "glossary" thread. Alternatively ...


3

The denial-of-service (DOS) attack is easy to explain: each time a transaction is updated by increasing the sequence number in an input, the whole transaction needs to be propagated through the network again. So if a transaction is 1 KB and there are 10,000 full nodes, you can waste a minimum of 10 MB of network bandwidth each time you update the ...


2

I think most people don't get the decentralized part. To explain, I have made a few questions and their answers: how are bitcoins created? how does it prevent double spending? how do we avoid central authorities? Bitcoin is a distributed ledger. Everyone knows how many bitcoins are around and which address sent how many to which address (sort of). A1. ...


2

Cash on the internet. It can be spent anonymously, and stolen if you're not careful.


2

Bitcoin is a global payment network on the internet. It is self-sustained and allows users to make payments between individuals like cash. Instead of a company being the referee, Bitcoin is governed neutrally by rules asserted through a network of computers running the same open-source software. Bitcoin is completely transparent, in that anyone can see ...


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