Bitcoin Forum

Hello guys I have navigated through this forum, and I have seen most of the conversation which includes some bitcoin terms used by profetionals. And most seam quite understood perhaps the understanding might differs. Although I made some research and got some tips but still find the forum a better place to shear the ideas. I respect the way you guys handle situations here please throw more light on each of these and I will really appreciate. Most newbies always feel ashamed of speaking out there mind on what they know nothing about, and still find it difficult to endulge in serious conversation due to lack of primary knowledge.

 I know the higher ranked members are ready and always want us the newbies to ask questions but all to no avail. So these are the little question of the day. What is the meaning of all what I have stated below and there functions. Please no big grammar just break it down to the understanding of newbies.
What is?
Lightning observer/ bitcoin lightning
Bitcoin node
Market capitalization
Bitcoin harsh
Bitcoin block
Proof of stake (POS)
proof of work (POW)
Mempool
Segwit
Sats/vbyt
Where do bitcoin transaction fee goes?
Where do wrongly transferred bitcoin goes ? if mistakenly sent to a wrong address can it be recovered? If it lost does it add any value to bitcoin price?

There are loads of glossaries you could use for these!

1. https://www.coingecko.com/en/glossary
2. https://bitcoinmagazine.com/bitcoin-glossary
3. https://www.whatisbitcoin.com/glossary
4. https://developer.bitcoin.org/glossary.html (has a focus on technical stuff)


They go to the miners


It goes to the address where you mistakenly sent it! it's not exactly "lost" as well as it has just moved to an address where you don't hold the private key hence is inaccessible to you.

Bitcoin transactions are irreversible so it's up to the person on the other end whether they wanna give it back which in most cases, they don't. But fear not because prevention is better than cure.

Terminology (https://bitcointalk.org/index.php?topic=126798.0) is a very old thread about cryptocurrency terms. It is not updated so you will have more modern terms from Coinmarketcap and Coingecko's Glossary.

There are many threads like yours and they are all dead after created for a while.

CRYPTO TERMINOLOGIES AND MEANINGS for Newbies (https://bitcointalk.org/index.php?topic=2353534.0)
Crypto Terms for Newbies (https://bitcointalk.org/index.php?topic=3321001.0)
Cryptocurrency Lingo/Slang (https://bitcointalk.org/index.php?topic=3250658)
Bitcoin terminologies and their challenges for newbies. (https://bitcointalk.org/index.php?topic=5455084.0)
Basic Crypto Terminologies Everyone Should Know - Let Me Know Your Score (https://bitcointalk.org/index.php?topic=5457993.0)
More if you continue to search.

• Apply this
  
  • [Guide] Searching effectively (https://bitcointalk.org/index.php?topic=5276341.0)

Here is a list of threads that explains Bitcointalk terminologies that helps beginners/or newbies to understand conversations deeply


It's rare to see transactions go wrong because most users are careful enough to know the addresses they are sending to. Transaction fees are what miners do benefits from, the fees are the sole profits of miners or should I say that is what is being mined. It very hard to recover bitcoins sent to wrong addresses because you may not know who it has been sent to, tho when it occurs with high influencer the exchange might give out details of the holder (sent to) but when it happens on a p2p/decentralized platform it may not be found. Seen it's just a transaction it has the same value your norm transactions will have.

Here is list of guidance threads that can help you find answers to your question

• [Tips] Guide for forum search (https://bitcointalk.org/index.php?topic=3127909.0)
• ★ A Complete Guideline to use forum search button properly ★ (https://bitcointalk.org/index.php?topic=5113993.0)
• [Guide] Searching effectively (https://bitcointalk.org/index.php?topic=5276341.0)
• Hidden pages/ features on the forum (https://bitcointalk.org/index.php?topic=5243405.0)

[/list]

To the miners that will process your transaction.

I’m not sure what you are talking about but the wrongly send Bitcoin goes to whoever address you send it. Bitcoin has no refund feature so make sure to double/multiple check the address you will use.

No, how will it add value while it’s already loss?

Did you spend one second to check the thread which was gone by the author?

They are all listed in the thread of mine that I shared above.

Edited

I was already typing before you replied, you check time of post you can understand the time gap

I get that you might be new to this stuff, but asking for definitions of basic terms without trying to figure them out yourself first wont win you many friends here.  We have all had to put in the work as newbies.  Search engines and forum archives are your friends - use them before asking others to explain everything.  

I dont mean to be harsh.  But taking some initiative to educate yourself shows you respect people's time and  post thoughtful, specific questions after doing your own research.  That is the best way to get helpful answers from this community of experienced people.  We have all been where you are. But with a little grit and patience on your end, you will get there too.


It goes to whatever address you sent it to. Unfortunately, it is usually not recoverable. The scarcity could theoretically drive the value up: fewer Bitcoins in the market mean a higher price, assuming demand is constant.

I am sorry to say many of what you seek are just a search away from you, this doesn't show you want to learn but rather you want to look like you trying to learn or trying to do something that you obviously can find easily by doing a very simple research, you aren't a newbie member and you should by now have read pinned messages here and also you should be familiar with searching up things, many if what you seek are basic so I suggest you dyor then where you find difficult to comprehend you can share here.

This is one of the most recurrent information topics covered by so many users, but I've found it a bit different haha it's too short in length. TBH OP you would be able to use the search option to find out this existing information. If you were really excited to provide such data better extend these terms to cover a wider range, that won't be a new idea still.

My reply is also not very unique I've used these words most of the time.

Bitcoin harsh? What is that? It's the first time I heard about this term. Everyone knows that learning how Bitcoin works is harsh though :P. I think you mean hash or hashrate IMO. The hash is what is calculated by miners with a nonce in order to win the reward of a block and to mine it. The hash has to start with the minimum amount of 0 required by the difficulty.  The hashrate is number of hash calculated by miners in one second.

You should go to Google for things that can be already found there, and become professional yourself too  :P

I'd personally suggest Reddit, just add Reddit to whatever term you wanna know meaning of. In my experience, individuals usually explain better than websites/blogs.

I literally thought the same :D

Back on the wordlist, it is true that in our crypto-sphere we have some expressions that are specific for crypto (others share use with trading and investments in general). But there's no need to learn that slang in order to understand the conversations held, it's more like a few cool words we use from time to time, which help us remember that we belong to the same tribe. Once a list exists, the rest can result redundant.

By now OP should have more than enough links to understanding the terminologies of bitcoin, hope he makes time to go through them, because it could be overwhelming to read everything at once and understand. Although the best way to learn very fast is to be active in the forum, every board has it's uniqueness, you open one and choose a discussion that can be helpful to you as a learner. Don't expect to understand everything in a day or a month, it's a gradual process, before you know it you'll be using the terminologies too. Most of us has passed through that stage of learning, in fact I'm still learning everyday, so be active in the forum and it'll happen naturally.