4

Yes this is called an SPV client. See this question here for detailed explanation of how SPV works. There are several of these today, most mobile wallets and the multibit wallet use SPV technology.


2

Bitcoin is secure when 51% of the miners are honest. We also need every node to have at least one honest peer to avoid eclipse attacks. Are these the only assumptions based on which Bitcoin is secure? I don't consider them as assumptions instead they are different types of attacks. 51% attack is the most over-rated. You can find lot of Q&As related to ...


1

Perhaps they meant "don't subtract fees from the amount" That is, if you owe 0.1 BTC and you have 0.1 BTC in you wallet, you shouldn't pay.


1

What you're describing is something I understand to be a well established practice in the land of ICOs and premined altcoins. I've seen it called "salting the tip jar". It doesn't take much effort to go find high profile "cryptocurrencies" that premined and presold 72 million tokens than as soon as their presale ended their "CEO" paid himself out a million ...


1

To answer your question completely: It is possible to implement a Bitcoin client without the whole blockchain. In fact, many exist, including Electrum, MultiBit, Mycelium, etc. However, it is not possible to implement the entire Bitcoin network without a full blockchain, unless you want to create a fundamentally new technology. Bitcoin thrives on the ...


1

No, you can't. When a transaction refers to an unspent output, it refers to it by transaction ID and output number, not by address. So knowing that a particular address has a particular balance is not what you need to validate transactions. If you can't validate transactions, you can't validate blocks. If you can't validate blocks, you can't really do much ...


1

It's entirely possible for a node to store only the balances (Actually the UTXO, but it's conceptually similar). This is called blockchain pruning, and IIRC has been on the wishlist for a while. The biggest problem is that to bootstrap a full node, it can't just take your word for what the set of balances should be, it needs proof. That proof is the full ...


1

Assuming that the BTC price is falling against USD, either BTC/LTC will remain stable and LTC will crash proportionately against USD or LTC/USD will remain stable and BTC will crash against LTC or something in between. Otherwise, there will be arbitrage opportunities by changing by using LTC as an intermediary between BTC and USD


1

As for now (years after this question was published), there are metrics discussed and published on several sites trying to achieve that. Basically you would be googling for "fundamental analysis" metrics. Because searching for the health of the underlying product to the traded asset is basically fundamental analysis common in other spheres of trading and it ...


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