David Schwartz
  • Member for 10 years, 4 months
  • Last seen this week
Can bitcoin protocol be changed to add economic incentives to validating nodes?
2 votes

I think you've got your reasoning backwards. The reason we want more people to run nodes is because people only run nodes if they get value out of it, so more people running nodes means more people ...

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Blockchain refund
2 votes

That is definitely another scam.

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How much time do miners spend validation?
Accepted answer
2 votes

But, they are competing with each other and really busy I guess. Here is my question. How much time do miners spend validation in general and start mining? None at all. While they are validating new ...

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If the nodes are what keep Bitcoin decentralized, what if some big internet company spun up 60%+ majority nodes?
1 votes

If the nodes are what keep Bitcoin decentralized, what if some big internet company spun up 60%+ majority nodes? Nothing. There is nothing special about the number of nodes. What’s stopping them ...

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Some questions about specifics on bitcoin mining
2 votes

Question 1. How does software like NiceHash miner or other mining tools handle situations like this under the hood? There's literally nothing to do in this case. If you don't find a nonce that works, ...

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How bitcoin exactly works?
0 votes

If its NOT hosted on central 3rd party server - does every miner store local copy of whole blockchain data? And newly joined miner will require to connect the network, and download whole blockchain? ...

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What if a pool of computers are used to attack a blockchain and modify it in 51% of the network?
2 votes

I mean if a large computer pool is used to attack a blockchain and modify the copy of the blockchain in 51% of computers in the network. Then due to consensus, the faulty blockchain will be replicated ...

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Why is it bad to split up a wallet seed redundantly?
Accepted answer
4 votes

Your analysis is correct. The weakness in this scheme is that if one location is compromised, only 80 bits of security are left. But 80 bits is sufficient for practical purposes and would likely take ...

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Why would anyone sell a Bitcoin miner instead of just mining themselves?
19 votes

The difference is that with cloud mining, all you are doing is lending the company money. And you are expecting them, for no rational reason, to pay you back an interest rate higher than they would ...

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Calculating total sum of bitcoins sent by wallet
Accepted answer
1 votes

The result you are getting is correct. The error is that you think it's too high when it's correct. Say I buy a book for $5, but I pay with a $100 bill. The amount "sent to anyone" from my ...

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Bitcoin migrating to a ASIC resistant mining algorithm like RandomX used on Monero
Accepted answer
9 votes

The bitcoin community would have to decide that they don't particularly care about having significant security anymore. ASIC-resistance weakens the security of proof of work chains because it ...

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Bitcoin: How does Proof of Work and single transactions align?
3 votes

How does Bob get this proof of work or how does Bobs message went to a person who has such I proof? Bob offers a fee to whoever attaches his transaction to a block with the necessary proof of work. ...

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How can we trust supply won't be increased in 2140 by just a few lines of code?
9 votes

Well, the title is the only question, how can we trust supply wont be increased by just a few lines of code? Just don't make any such changes to your code and you will never see an increased supply. ...

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Why do we need miners
2 votes

Alice has 1 bitcoin. Alice sends that same bitcoin to both Bob and Charlie, forming two different transactions, both valid. The next day, Bob sends a transaction sending his bitcoin to Ed while ...

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Bit Coin Mining
1 votes

(target + space - guess) * 100 / space So for example, if your numbers had to be less than 200 and you needed to be less than 20 but got 30, your guess is (20+200-30)*100/200 or 95% right. This makes ...

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Why must the entire chain be included in calculations if it's already been validated. Why can't the validated portions be archived to save energy?
2 votes

There is no difference between those two things. If you have a data set that includes only things that you have fully validated all of and you confirm that something is in that data set, you have ...

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Is Bitcoin safe from 51% control with Billionaires?
Accepted answer
4 votes

So couldn't billionaires easily take over nodes and make drastic changes? Just curious, I am interested in Bitcoins because it is people's money, however I want to understand this area more. No. ...

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Preventing secretly mined chains
1 votes

This is precisely what federated byzantine agreement algorithms like that used by XRP and Avalanche do. But this is a such a huge change that you can't really consider the algorithm to be proof-of-...

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Why Would Someone Not Use a new Change Address
1 votes

Are there known reasons or types of users who intentionally choose not to follow the advice to use new change addresses? Say you perform a lot of transactions but still want to have some mechanism ...

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Mitigating a Double Spend Attack by Punishing the Attacker?
3 votes

This wouldn't be effective. Say I want to transfer value worth $100. How much is it reasonable to ask me to lock up and for how long? Maybe we could tolerate forcing me to lock up $200 for an hour. ...

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UTXO Model and Trans Fee / Kb Clarification
2 votes

Once this transaction is processed, does my wallet remember that these 2 btc came from separate UTXO's? Or does it "get melted" as someone alluded to in my first link. More precisely, if I ...

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After sending/flooding transactions, how do we know that a specific transaction is on all nodes?
0 votes

If we call the winner, the miner that solves the PoW problem first, then how do we know that he received all the transactions he's supposed to receive before announcing that he created a valid block? ...

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To be more energy efficient, wouldn't be a consensual fork - right now - without the reward of new mined btc for each block helpful?
0 votes

Ignoring the practical difficulty of making any such radical change to bitcoin, there would be profound negative consequences from such a change. Eliminating the block reward would almost certainly ...

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Why is SHA-256 mining secure?
2 votes

My question is: Say I know that the message b 'added' with the number a gets mapped to my desired output. Why is it not possible for me, given a different block (b2) to find a corresponding number (a2)...

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Assuming a decentralized exchange like this, wouldn't this basic logic guarantee profits every single day?
1 votes

What goes wrong is that you make a profit on every trade, but you are holding lots of bitcoin when it goes down and lots of whatevercoin when it goes down. Adverse selection causes you to take huge ...

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How do mining rewards get verified?
1 votes

I understand that a miner who adds a new block can pay the reward to their address per the coinbase transaction, but who verifies that claim? Say, for example, I add a block, but instead of claiming 6....

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Bitcoin disappeared from Trezor wallet
2 votes

You should never have entered the seed phrase into a computer. The seed phrase is for emergency use only if the Trezor wallet is lost or compromised. There is no such thing as transitioning a wallet ...

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How isn't blockchain fundamentally broken?
1 votes

Say I want to join the network and start a node, I have to fetch the entire block chain which: Can grow to unlimited size? I have to verify, by checking every block of theoretically unlimited count? ...

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Why are there fees for arbitrage trading and wallet transfers?
0 votes

Deciding which exchange to buy BTC from (and sell at a future date) I wondered if I could choose one with the best fees for buying and a separate one with the best fees for selling and if this is even ...

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Is PoW and consensus unnecessary without double spending?
Accepted answer
2 votes

The only solution I see to above is that each coin is initially issued and signed by a trusted party. Once these coins are in existence the trusted party is removed. This is not correct. Why would ...

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