cdecker
  • Member for 10 years, 4 months
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What is relation between scriptSig and scriptPubKey?
48 votes

First of all two matching scripts are used in two different transactions, one that transfers funds to an address (Transaction A) and one that spends those funds (Transaction B). The scriptPubKey is ...

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How is the network hash rate calculated?
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21 votes

The hashrate can be calculated from the expected rate of finding a block (144 a day), the actual rate of finding a block and the current difficulty. So let's calculate the average hash_rate for a ...

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What is the longest blockchain fork that has been orphaned to date?
20 votes

Short answer: 4 [Prior to the March 12, 2013 fork] The Value Overflow incident seems to be the longest ever blockchain split. The problem with blockchain forks is that once they are resolved the only ...

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What's the difference between a bitcoin client and wallet?
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17 votes

A wallet is the collection of data needed in order to receive and spend bitcoins. Usually this includes key-pairs (private key, public key and the address that may be inferred from the public key) and ...

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With 100% segwit transactions, what would be the max number of transaction confirmation possible on a block?
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14 votes

Very interesting question, let's see what the smallest transaction we can build is. For it to be minimal it has to be a single input and a single output. The non-segwit part would look something like ...

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How does Satoshi Dice's 'zero confirmations' transaction system work technically?
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14 votes

A transaction claims some outputs from previous transactions and then creates new outputs whose summed value is equal to (or less than, in the case of fees) the sum of the claimed outputs values. For ...

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Cheating on pooled mining
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14 votes

The way you describe it it's not possible. The pool sends you the template of the block that you ought to be working on. Should you really find a block it is bound to the block template you received ...

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Is Lightning Network a risk for Bitcoin security since it reduces miner fees?
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13 votes

The idea that Lightning will reduce the amount of fees going to miners is very common, and we probably won't know for sure until we actually try it. However, I'll try to provide some arguments as to ...

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What is "Script Hash" address exactly and how does it work?
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13 votes

The P2SH, as defined in BIP 16, states that The purpose of pay-to-script-hash is to move the responsibility for supplying the conditions to redeem a transaction from the sender of the funds to ...

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Why does bitcoind say "error: couldn't connect to server" for the first few minutes of boot-up?
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11 votes

The first thing Bitcoin-QT does is verify that the data stored on the disk is valid. Among other checks this includes verifying the last 288 blocks (the past two days in expectation). This task ...

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Countrywide Internet isolation, inevitable fork
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11 votes

Your assumptions are perfectly right. Since there is no information exchange between the two partitions while the network is partitioned, and Bitcoin guarantees liveness, the global consistency ...

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Why does gettransaction report me only the receiving address?
11 votes

I was intending to answer another question, which was closed as a duplicate in the meantime, but I will use the case that was described there as an example to answer this question. Assuming the ...

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How does Bitcoin figure out what time it is?
11 votes

As individual clients may have an arbitrary timeshift, the Satoshi client will use the median of its neighbors times alongs with its own time to find an offset to the local clock. This offset will ...

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Closing a channel in Lightning Network
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10 votes

The first three scenarios are indeed possible, the last one is identical to the second. This is called a collaborative close. It has the advantage of using a lower on-chain fee since the transactions ...

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PUSHDATA4 unnecessary?
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9 votes

There is currently no real need for an OP_PUSHDATA4, which would allow pushing up to 4GB onto the stack. It was in the original script definition and simply was not disabled when the 520 byte limit ...

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Is it possible for the network to stop finding valid blocks?
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9 votes

The simple answer: no. The not to simple answer: extremely unlikely. Miners hash an input block, in the hopes of getting a result that satisfies the difficulty requirement, i.e., has a certain ...

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Can the number of transactions per second ever overwhelm the network?
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9 votes

There are three parts to this: The miners have to verify each transaction that will go into the block and all transactions that are in the block they will be basing their own work on Each client ...

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Why would increasing the Bitcoin block size lead to a more centralised system?
8 votes

The problem arises from the uneven propagation of information in the network. While the propagation of small blocks is fast, i.e., every miner gets to know a new block approximately at the same time, ...

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If a wallet has multiple addresses, is the money in the wallet or in the address?
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8 votes

The bitcoins you received with an address are always associated with that address. The wallet is merely summing up the balances of individual addresses contained in the wallet. You can move addresses ...

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Why would a miner mine with a difficulty other than 'the' difficulty?
8 votes

To understand this we should first explain that a block with a high difficulty, let's say D, is also a share of low difficulty d < D, therefore if we find such a block for difficulty D we ...

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Why does the Bitcoin conversion rate change wildly?
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8 votes

As with any traded commodity the price largely depends on the confidence of the buyers and sellers in the future evolution of the price. Basically you pay whatever you feel it is worth. Like stocks ...

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How to make Bitcoin-Qt client portable? (Windows)
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8 votes

Put the bitcoin-qt.exe binary in the folder Create a bitcoin.bat file Open the file with notepad Add the following line: bitcoin-qt.exe -datadir=. From now on you can start by double-clicking the bat

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In order to reduce fees, can I 'consolidate' my wallet by sending the entire balance to a new address in the same wallet?
8 votes

If fees are your only concern, yes it works. By ordering the smallest inputs (those of which you'd need lots in a future transaction) in ascending order and then build transactions to yourself just ...

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A complete bitcoin implementation in Python?
7 votes

That strongly depends on your definition of complete. There are a number of implementations that implement parts of the Bitcoin node functionality. For example cdecker/pycoin has a solid network ...

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Can I addnode to blockchain.info?
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7 votes

As mentioned in Daniel's comment, if you are trying to connect to the Bitcoin-client that gathers the information for the Blockchain.info site this is not trivial as the IP does not match the one of ...

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How long should synchronizing your wallet for the first time take?
7 votes

There are two factors to the time to catch up with the network: The sheer size of the blockchain The time to verify the blocks As Tom mentioned the blockchain is currently about 7GB in size, so no ...

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Why is it impossible to derive public key from address?
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7 votes

The address is at its most basic just a hash of the public key. The hash functions involved (RIPEMD-160 and SHA256) are cryptographic hash functions. They are often also referred to as one-way ...

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Can a channel be closed while the funding tx is still stuck in the mempool?
6 votes

I started out writing this answer while trying to do it myself, but then found out that we don't yet have tools to manually edit partially signed Bitcoin transactions (PSBTs) which is the very last ...

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Make payments Lightning without Invoice?
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6 votes

With the current specification it is not possible to make a spontaneous payment to somebody on the network. However, this will likely change very soon, as it is one of the features on the roadmap and ...

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Can a miner set the EXACT timestamp of a block?
6 votes

Bitcoin miners can construct the block header, including the timestamp, however they want, as long as it adheres to the consensus rules. The shift you describe is well inside the 2 hour timerange, so ...

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