placeybordeaux
  • Member for 9 years
  • Last seen more than a month ago
What is the economic value of Litecoin? Is it simply a subdivision of BTC?
8 votes

The major difference between litecoin and bitcoin is the hashing function. Bitcoin uses SHA-256 while litecoin uses scrypt. scrypt "is designed to be far more secure against hardware brute-force ...

View answer
Who is the programmer behind SatoshiDice?
7 votes

This is all I could dig up from https://en.bitcoin.it/wiki/SatoshiDice SatoshiDice was the brand given the service initially created by BitcoinTalk forum user FireDuck before selling the system to ...

View answer
Can someone saturate the network?
Accepted answer
6 votes

Your transactions would be given the lowest priority as they are not paying fees, also if anyone is actually marginally successful in spamming the system it is entirely possible that the larger pools ...

View answer
Why do we need alternatives to Bitcoin?
6 votes

In addition to Lohoris's answer, the reason that litecoin was created was to be as resistant to custom built hardware just for mining the coins, it uses scrypt as its cryptographic function. Scrypt ...

View answer
Risk of a certain machines being compromized
5 votes

No. However a machine with that person's bitcoins on it can be compromized and their bitcoins can be stolen.

View answer
Can everybody earn bitcoin?
2 votes

There are no requirements about your nationality, skills or need to have a credit card to use Bitcoin. The only major requirement is that you have a smart phone or computer and access to the internet. ...

View answer
Avoiding currency conversion markup
2 votes

If you can buy using https://localbitcoins.com/ in both places then you can just buy some bitcoins locally before you leave and sell them locally when to get to where you are going.

View answer
Average cost of mining per BTC over time
2 votes

This is a chart of blockchain.info's estimated miner operating profit. The chart makes a number of assumptions which are listed below. Electricity consumption is estimated based on power consumption ...

View answer
Any stress-tests done after 2015?
1 votes

The 2015 stress test aimed to hit 200MB of backlogged tx, they only hit 15MB as reported by coindesk. Blockchain.info reports that the backlog of tx hit 120MB May 16th 2017. It's mostly been above ...

View answer
Could Bitcoin dust spam be effectively combatted by actually including it in the block-chain?
1 votes

The transaction fees are optional, the sender can choose to include the fees and the miner can choose the include the transaction. Each transaction that is included increases the size of the block ...

View answer
Is it profitable to use Amazon EC2 to mine litecoins?
Accepted answer
1 votes

Yes it can be worth it, but generally what happens is if it ever is worth it then a huge number of people start doing it until the prices of EC2 are driven up and it is no longer profitable. Here is a ...

View answer
What happens to a person's bitcoins if they should happen to die prematurely?
1 votes

Yes. Those bitcoins will never be used again unless someone creates a private key that hashes to the same public key.

View answer
How did mining occur before OpenCL?
Accepted answer
1 votes

Before GPU mining all mining was done on the CPU.

View answer
How can I prove that I destroyed some bit coins?
Accepted answer
1 votes

If you just want to make it clear that you no longer own them you can just send yourself 1 santoshi and put the rest up as a fee. If you want to destroy them there are a couple decent address to send ...

View answer
What ultimately happens to mining if blocks contain mostly non-Bitcoin data?
1 votes

Whoever discovers the block can choose what information to put into it. Therefore a miner that finds a hash that has a sufficient level of difficulty can choose to only include transactions that ...

View answer
can man in the middle change transaction before its broadcast?
0 votes

This would not work because the man in the middle's public key would not hash to the bitcoin address that owns the coins. What a man in the middle can do is perform a padding attack which has largely ...

View answer
I can lose coins but they can’t be spent? Is that what they are saying?
0 votes

If you have a backup but a cracker gains access to the online wallet then both of you (yourself and the cracker) can spend the bitcoins. If you spend them before the cracker does you are safe, if the ...

View answer
What block had the most transaction fees? Why?
-1 votes

I am not sure which block it is, but you can see it on this graph from blockchain.info. It was ~305 BTCs in transaction fees. The blockchain will not tell you why the transaction fees are so high. It ...

View answer