LOL, really?satoshi, the inventor of bitcoin, premined 1 million coins out of the 27 million that will ever be created before releasing the software
been thinking of trading a lot of my hard mined ltc for btc but my goodness the swings I see in 30 seconds are frightening. I have to think some group is manipulating the prices. I'm all for tech but if this is the real swings of bitcoin I can't imagine the masses uses it.
WMLTC has been f!*&ing up.
I was just learning about how you can set up your wallet, and if you lose it, your coins in that wallet are gone for good.
Not true, you can backup your wallet. As long as you keep your wallet(s) backed up, it would be difficult to lose it along with the coins.
What does "Forked" mean?
Yes, I agree we should back up our own wallets.
But I'm curious if you can intentionally destroy coins like this, by simply removing them from circulation for ever. There might be a situation where you could buy up a lot of coins, and then destroy a portion of them to artificially inflate the value of your remaining coins. But then those destroyed coins would be gone for good?
Yes, I agree we should back up our own wallets.
But I'm curious if you can intentionally destroy coins like this, by simply removing them from circulation for ever. There might be a situation where you could buy up a lot of coins, and then destroy a portion of them to artificially inflate the value of your remaining coins. But then those destroyed coins would be gone for good?
What does "Forked" mean?
Yes, you could simply set up another wallet on another computer or virtual machine, send some Bitcoins there, and then nuke it from existence.Yes, I agree we should back up our own wallets.
But I'm curious if you can intentionally destroy coins like this, by simply removing them from circulation for ever. There might be a situation where you could buy up a lot of coins, and then destroy a portion of them to artificially inflate the value of your remaining coins. But then those destroyed coins would be gone for good?
Yes, I agree we should back up our own wallets.
But I'm curious if you can intentionally destroy coins like this, by simply removing them from circulation for ever. There might be a situation where you could buy up a lot of coins, and then destroy a portion of them to artificially inflate the value of your remaining coins. But then those destroyed coins would be gone for good?
I just installed my 2nd 270 and am dealing with heat issues (side panel off with fan on it for now) in my crampt coolermaster storm scout mid tower case. When I make enough profit (so wife doesn't complain) I was thinking of getting a bigger case for better airflow. What cases do you guys use? I do have milk crates but I really don't want to go that route.
So that means if someone pays me in Bitcoins and it gets reversed due to a soft fork I am SOL?It means that the blockchain has split, with different copies of one or more blocks in different parts of the network.
Blocks are created by mining - the miners compile a list of transactions and then sign them off, with a "proof of work" (effectively a lottery where there miner computes a hash to see if it gives a specific answer). The list of transactions and its signature become the next block in the blockchain.
Under normal circumstances, two separate miners can find a new block simultaneously (or nearly simultaneously) by chance. The result is that the blockchain has split from a single trunk to two paths (hence the name, fork). Under normal circumstances, one of the branches (and the transactions in it) will be cancelled automatically. Effectively, the network will cancel the shorter branch.
Usually the forks only last for about 1 or 2 blocks, before the network detects them and cancels the shorter branch. However, if there is a major network disruption - e.g. if Europe were to get disconnected from the US, then there could be a major temporary fork with different block chains developing in each separate network. When the networks eventually rejoined, the longer chain would win and the shorter one would be rolled back. A similar effect can occur if a miner with massive computing power but a slow (or deliberately manipulated connection to the rest of the network) starts mining a coin. This is sometimes called a 51% attack, because it can be used to reverse a payment some time after you made it.
This type of fork is sometimes called a "soft" fork, as it will eventually reset itself (but it may take a long time, which can result in thousands of reversed or lost transactions across the network).
The other type of fork is a "hard" fork. If there are 2 versions of the client sofware on the network, they may disagree about what is a valid transaction. Some clients might reject a transaction, but some might accept it. In which case, the block chain will fork with some mining a block with transaction X, but other miners mining the same block without transaction X. In this case, because the clients cannot accept the other client versions blocks, the network will not autocorrect. This results in effectively two different sets of wallets depending on the software you are running. When this has happened, it usually needs an emergency patch to the defective software version, and emergency software updates by all miners and currency users.
very happy with the Corsair 540. If you want to go cheap look at test benches from DIY at the Egg. They for as low as $50you lose more than you gain, unless you own 100% of coin in which your loss is equal to your gain.
Destroying currency in such a way is not a plausible attack, the same way that nobody worries about people buying gold only to throw it down an active volcano.
Besides that, bitcoin can be divided into very small chunks and if needed that divisibility can be extended
What do you mean about the accounts being flagged?Just cashed out my first chunk 'o BTC with Coinbase. Looking forward to being one of those that complain about the flagged accounts etc in a couple days.
That said, my first month or two of mining will go toward paying for mining gear and bills, then I'll start stashing away some coins for "future use".
What do you mean about the accounts being flagged?