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Miners in this context are processing units or circuits whose primary purpose is to process data, they are then programmed to compete to confirm bitcoin blocks. Mining gear are not special equipment designed specifically for bitcoin mining. In the early days mobile phones and PCs could function to mine bitcoins, but as demand grew the need for higher computational energy also grew, leading to the adoption of GPUs and then ASICs.
If you can design a processing chip with enough hashrate to be competitive today then sure, but this is not a DIY hack you can do from your garage, but requires investments and expertise.
If you can get ASIC chips along with some other parts, you can experiment with coupling it yourself and test running the equipment.
- Jay -
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Liverpool have taken the lead through a beautiful team goal, assisted by Mohammed Salah and scored by Curtis Jones. The game so far has been very intense with both sides playing at a very high tempo.
Edit; Curtis Jones makes it two through another beautiful team goal. Both goals were checked by VAR and confirmed to be onside during the build up.
As it stands now, Liverpool would move within a point of a top-four finish putting pressure on Newcastle and Manchester United and Leicester would remain in the drop zone along with the most inferior goal difference. It would be very difficult for the Foxes to remain in top flight football next season.
- Jay -
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I just love it when I see legendary or hero members or senior members or other high ranking members make great insightful comments that helps really.
I would include a shout-out to the newbies, Jr. Members and Full Members who also contribute in their own way to the forum. All ranks do their bit in keeping the forum educative and contributing to keep the forum trust system working and helping to report spam. - Jay - |
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i way to also exercise censorship on user's account by placing regular upgrades which each user must meet up to, by so doing, anyone not yet upgraded will loose having access to their assets in some certain conditions, centralized exchanges is not the best at all, we need our privacy and control over our assetsby going completely decentralized.
You are right that centralized exchanges are not the best option for trading, but change of addresses is not done to exercise censorship or to make one lose access to their assets, it is a security measure and also a privacy one used by exchanges regularly. Besides the announcement to double check deposit address, it is a good habit to always check the deposit address from the website and not have it saved somewhere on your device from where you copy it.
Do go completely decentralized. - Jay - |
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In most blockchain systems, including Bitcoin, the difficulty adjustment algorithm takes into account the average time it took to mine a certain number of blocks in the past.
Bitcoin difficulty adjustment does not take a random period of time in the past, it only accounts for the last 2,016 of confirmed blocks and uses the time taken to mine a block averagely to adjust the difficulty. Considering that both chains are supposed to exist at the same time, and having forked apart from a common block, how would the longer chain have a lower difficulty level if both chains adhered the difficulty retargeting protocol?
As mentioned it depends on if the chains last into the next retargetting, which will result in different amounts of work in the different chains. - Jay - |
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While there is so much focus on what's going on at the top of the table, there is a lot of drama happening in the other critical points of the league. The battle for top 4 is heating up and looks like it will go down to the final two matches, I predict Newcastle and Manchester united to fill the slots but the season has been full of surprises already.
Brighton are also looking to stake their claim on a European competition spot, Europa league is possible but the conference league is more likely.
At the bottom of the table the battle for survival Everton took a huge blow today both on points and goal margin which might be the decider as the games ticks down.
At the summit of the league it is all but certain Manchester City would win the league for the third time in a row.
- Jay -
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The longer fork represents the consensus of the network, as it has accumulated more computational work and has a greater number of participants supporting it.
Being the longer chain does not mean a fork has accumulated more computational work. Proof of work is determined by the difficulty in solving the puzzles which influences the amount of computational energy that is spent. A longer chain can have significantly less computational work if it has a low difficulty level. It's worth noting that miners typically rely on consensus rules implemented by the network's protocol and the consensus of the majority of miners and nodes. Following these rules and aligning with the majority helps maintain the integrity and stability of the blockchain.
In the proof of work model, consensus should be determined by the greater work done. - Jay - |
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There are different types of trading strategies and they each have their level of risk and potential reward. Making an estimate of if a strategy is profitable is impossible, you have to consider how it is applied, how much is staked and the understanding of the market the trader has. Can I make 20$ per day if I have 2000$
A profit of 1% per day is accumulated to 365% if you are trading an asset like bitcoin which is always live. That is a high expectation for average earning when you factor in that there would be losses accumulated on different days. Start by doing your research on the different trading methods, test the waters with a few of them by demo trading or back testing the strategy. - Jay - |
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If someone wants to copy and paste here,he must provide a link to that which he has copied from.
Providing a link is the ideal thing to do, but to avoid plagiarism you must just not pass off someone else's work as your own. This can be avoided by using quotations to indicate that the content belongs to someone else, you can apply any other means but just make it clear in your post that the text does not belong to you. I don't know if someone wants to use a picture on the internet without providing a link to that picture, if that user will be banned for his action or I must also provide the link to that picture which I used. Is using someone else picture without providing the link also plagiarism.
I instinctively assume a posted image was not created by the user except they male it perfectly clear that it is theirs. There is no clear line for image plagiarism, they are reused so many times by so many people it becomes almost impossible to find the original source. Using AI generated post, which I know that is not encouraged in this forum, what will be the penalty for such action,is this the same as plagiarism ?
AI generated post use information available online but does not copy any exact content, this is not plagiarism. - Jay - |
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Current amount of posts: 401
EARNED merit in the last 120 days: 148
BTC Address for payouts: bc1qcj739rwkf6lx3e94kc7uswxzvwks6y7mt3pgss
Native German speaker: No
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I searched and found many ways but they all seem so fishy to me so if someone can give me just a small hint here
To add to the simple explanation above, there are basic ways people go about getting into bitcoin mining: 1. Solo mining; You are running your own pool as a solo miner solely with your personal mining equipment. With how competitive mining is now, profiting solo requires a huge capital investment. 2. Joining a Mining pool; Miners that join pools are literally pooling their hashrates together. If I do not have enough hashrate to be cimetitive as a solo miner, I can join a group of other miners and any reward gotten is split based on the hashrate the miner contributed. I would not comment on cloud mining cause it is a very grey area.
The concept of mining can be explained as miners trying to solve a computational puzzle with computational energy. It has the dual function of confirming transactions and bringing new coins into circulation (until the total supply is reached). - Jay - |
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You can reuse your email address and choose to either receive or not to get any promotional emails, this does not in anyway affect the order you are making nor does it provide more privacy. Your email is already logged when you use it to make an order, unchecking the promotional email option works to prevent spamming your email or clogging if spamming is a heavy word. Well i thought not checking it might not make order go through because the sentence before that. Anyone else can confirm this?
No it does not affect the order, just a marketing strategy. - Jay - |
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Shrimps on average 0.039BTC total address 32M
If not accounted for, the figure here would be skewed by the total amount of zero UTXO addresses which has never sent or received a transaction before. Burning question:
190 ,1450 Bitcoin Humpback & whales wallets can destroy the Bitcoin market?
If not, will Bitcoin ever be destroyed?
Why would the biggest holders of Bitcoin want to destroy the bitcoin market? If hypothetically all the big holders linked up and decided to dump, that would have a massive influence on the price negatively, but would not destroy bitcoin. The market would recover and we would have more diversification in ownership. - Jay - |
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To create different wallets on HD wallet like electrum you do not need to reset it, all you need to do is find the option to bring out the list of wallets then click on new, this prompts you to either generate a new seed or import a wallet you already have, or create a watch-only wallet with your public key.
What makes HD wallets different is that it contain multiple addresses linked to a single master private key and provides more privacy with change of receiving addresses and change addresses.
I hope I understood your question fully...
- Jay -
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Transaction output is still there. I'm looking for checking transaction input. Both are different. I think you have misunderstood my post above.
I must have misunderstood that you were specifically asking about inputs. They are also not available in the older version I am using, only the outputs are along with the txid. Could be available on much older versions, but I do not think it was. - Jay - |
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I can confirm that on electrum version 4.3.3 it is possible to view the outputs of a transaction on mobile (which i think is what you are referring to) with your own personal address marked in green among the entire number of outputs.
The feature must have been discontinued in some more recent versions.
- Jay -
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Sometimes, when I click to check, I see a lot of addresses. I have a vague idea that it is for processing the payment(correct me if I am wrong). The question I have is: how are the payment transactions processed? What actually goes on there?
The link you clicked on contains the transaction ID, which as the name suggests is a way of identifying the transaction which was signed and broadcasted. The addresses you see labelled To are the outputs of the transaction and those tagged From are the inputs of the transaction. Other information contained include hash ID and number of confirmations. A transaction ID is generated for a transaction and is used to monitor the transaction as it is processed. This process involved nodes validating the transaction and adding it to their mempool, it gets picked by a miner from there and added to their candidate block. If their block gets confirmed the transaction gets 1 confirmation. As more blocks are confirmed the transaction goes deeper into the blockchain and the number of confirmations increase. The transaction you linked has almost 2,000 transactions. - Jay - |
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Not sure how the smerit is calculated, your 5 merit converted to 2 smerit.
5 merits gets converted to 2.5 smerit but 0.5 merits cannot be sent to other users and does not get displayed. If you send out the 2 smerits you got and receive 1 extra merit at a later time you get an added 0.5 smerit for that. That 0.5 + you not shown 0.5 merit now would give 1 smerit which would be shown on your profile. - Jay - |
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