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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I was reading an article sometime ago when I bump into a sentence, an I qoute, '' will you sit by an allow this opportunity to pass by again? Yesterday you said you will do it tomorrow"
This is also a strategy used to lure you into making a wrong decision by appealing to their subconscious which is instinctively doubtful about what is being offered. In the crypto word it is something like, "You missed out on the bitcoin train, join this project early to get it very cheap". This tries to align bitcoin's successes to a worthless token and get you to act on it with little to lose. The developers make away with a lot of money in the end. I miss the opportunity in 2014 because I feel it was a scam, am I missed the opportunity, look at me today, investing in some alt that wanted to give me high b.p
You were doubtful which is natural, do not regret cause you could have made lots of money if you invested then. You are now investing in alts cause of the example I gave above. I do not invest in altcoins and every now and then hear of an airdrop that went to the moon. This does not cause me regret cause I have made a decision to avoid them since majority are worthless. I must buy bitcoin today, I really don't know if someone else is experiencing the same thing out there?
Do not be desperate to invest. - Jay - |
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Thus, Trust Wallet is trying to preserve its community, which would inevitably decrease if there was no declaration on compensation for damage.
Its community should indeed decrease and not exactly for the reason you sighted but cause it is closed source and its users cannot verify what is contained in their code or their mode of generating addresses. Needing to guarantee compensation could be cause they bear responsibility for losses of assets or private information submitted, which would not happen if it were a decentralized platform. - Jay - |
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You should not generalize tokens to represent all cryptocurrencies. There are coins which have their own custom blockchain and tokens which are built on the blockchain of existing projects. Ok, I got the point here, anytime I post something of such, I must include the link, thanks for the enlightenment.
The rule is not strict on including the link, just do not plagiarize; copy someone else's work and pass it off as your original idea. It is typical to share the original source, but using quotation marks "" or quote tags: ... is enough to not get you in trouble. - Jay - |
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You would rather waste as much energy as possible on a mining algorithm that was never designed to solve any scientific problem.
Miners keep the proof of work algorithm, which has shown to be the most secure and efficient blockchain based algorithm, running. That solves the scientific problem of secure, unregulated transactions which works on consensus and discourages bad actors. I would rather find the most important scientific problem and then use a mining algorithm that is designed to not only solve this scientific problem but also has the required cryptographic properties to secure the network. Go right ahead. Bitcoin does not limit technological advancements. I know that this topic has been discussed before, but I am bringing it up again since the cryptocurrency community still needs to learn.
- Jay - |
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Since then, it has developed into the most widely used cryptocurrency in the world, with a market cap of over $1 trillion.
Once had a market cap of over $1 trillion, the current market cap is just over $500,000 at the time of writing. Although the primary use of Bitcoin has been as a speculative asset or a store of wealth, its underlying technology, the blockchain, has the potential to completely change a variety of industries, including finance.
The primary use of bitcoin was as a currency which did not need a regulatory body to function and then as a store of value. Speculative features were secondary uses as the price increased and became more volatile. What what is DeFi, and how can Bitcoin use it?
DeFi is an open and unregulated sector which attracts tons of users and developers. It has its pros and cons but does not need to be adopted by bitcoin. - Jay - |
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If anyone of you are not sure if you are giving your merits to people who you think they deserve them, just move onto give them to people which is very famous, trust worthy or helpful on developing tools for all of us in the forum.
Merits should be dependent on the post and not the user who made the post. A quality post judged on your subjective standard. Your suggestion would limit newbies from getting merited cause they are new and not yet famous or trustworthy. It has happened to me in the past and I wanted to give a few merits to newbies, only to realize that they had been banned in a few months.
A banned member can have created a very helpful topic while they could post on the forum, being banned does not make the post any less useful than it is. The merits could also guide other readers to what replies in a thread are useful. - Jay - |
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Does everything's safe as legal things? I just worried for suspicious, because all source from mixer.
You are worried that your funds would be rejected by binance or any other centralized exchange cause it has passed through a mixer? This is a valid concern and there has been a crackdown on blurring the trail of a transaction using coinjoining or mixers from governments through centralized exchanges this results in flagged transactions and locked bitcoins for different duration of time. To avoid this you can either utilize decentralized exchanges which connect traders together directly or you can blur the fact that you used a mixer so centralized exchanges cannot pick up the trail. The above reply by Charles-Tim has some advice on that. - Jay - |
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I think the majority of gamblers want to make quick money, that's why they gamble. But investors or the bitcoin sector must be patient to make gains.
Many investors in the bitcoin sector only do it cause they want to make quick gains as well and are not patient, this causes many investors to lose cause they buy too late fearing that it would not rise again and sell too early fearing that they would lose out if they keep holding. This does not mean there exists any similarities between bitcoin and gambling, just that not all bitcoiners are keenly interested in the technology or the possibilities it has. - Jay - |
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Agree with me - forum and exchange are different things)
Forum and coin tracking tools are two different things but neither of them is responsible for vetting possible scams. My example was to show that websites can offer hints that an exchange or mixer is a scam without necessarily taking it down. This does not mean they help scammers, it means you should do your research yourself. - Jay - |
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I meant Bitcoin technicalities like Block chains, hash rate, nodes and the likes.
I can already apply technical analysis just want to research more on the technical aspect of Bitcoin because coming across certain terms i don't understand while reading a thread is painful.
There would always be terms you are unfamiliar with since we all are always in a learning curve. It is expected to be unfamiliar with terms in bitcoin, I am a newbie to the technical aspect as well and look for opportunities to learn, step by step. There is no short cut to gaining knowledge, follow the posts and threads of more knowledgeable users and as much as possible, practice what you learn. If you read a about nodes try to run your own node, same with other technical aspects, with time you would get more familiar with them. - Jay - |
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...if this countries can possibly readjust policies to favour bitcoin by mid year, it will experience excess rising.
Do not depend on policies of countries for bitcoin to rise in price, except maybe their poor fiscal policies which lead to inflation in fiat. But the question is; is it possible for bitcoin to reach $60k by this year? No serious bulls happening currently and if it continues in this little increase probably it will not get anywhere close to $60k. Share your views.
It is surely possible for bitcoin to reach $60, this does not guarantee that it would but it can. My predicted peak for this year is somewhere over $40k. - Jay - |
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If you take this isolated incident, it does not show either coingecko or coinmarketcap to be helping scammers anymore than the forum does. Here in the forum scams are unmoderated, it rather has a trust system which serves as guides for users with pointers like trust scores and flags. This is a similar disclaimer to what was put up for Bibox exchange.
This does not mean I am saying either platform does not support scammers in other incidences, but not in this case.
- Jay -
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xrp is very centralized. we need a web of trust cryptocurrency governed by a community.
...
Then we create a discord for example and accept people who prove they are not bots.
The idea just keeps sounding worse the more it is broken down. Bitcoin is a permission-less and trust-less network, losing these two features to prevent a nonexistent threat of fake nodes is taking bitcoin several steps back in terms of decentralization. Running on a centralized platform like discord effectively centralizes the network. You do not need to fix what is not broken. - Jay - |
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Chameleon is a popular name used by malwares and viruses, I could find some which date as far back as 2014 or earlier. This could be a new strain with no relations to previous versions or an updated version of an earlier one to make it spread through unlikely means like attachments in discord or compromised websites. So just be careful downloading Coinspot, if you are using it, be sure you got it from reputable source.
Be careful when downloading any application. Ensure you get it from the official website and verify the PGP signature. - Jay - |
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Is there a situation where we woke up one day and found out all our bitcoins vanished?
- If you lose your seedphrase someone can steal your bitcoins, it does not vanish but gets moved to another wallet,
- If you keep your bitcoins in a centralized wallet, the exchange can limit your access to "their" bitcoins,
- If there is a vulnerability discovered that breaks the security of the network (possibility = 0%),
Blockchain or DLT has a common explanation where it is calculated to solve double spending problem which represent a incomparable transaction that are solve through the computers in the network? Double spending is a way of cancelling transactions that have not gotten sufficient confirmations to be deemed irreversible. The minimum is usually one confirmations, can be 3 or 5 for higher amounts of bitcoins. - Jay - |
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Someone ask me a question after introducing bitcoin to him, if he can start up with $30 and grow with it but I told him bitcoin is wide and high in volume, price and market, that's means whatever you're starting with determine the outcome of the market like for example;
This is a misconception that pushes people to invest in shitcoins which are valued in cents. Bitcoin's price being high does not mean investors with lower purchasing power cannot get some. For a start $30 is not a bad value at all, the person is can use that amount to test out the little technical features, trading, wallets and backups, transactions on-chain... What you are starting with does not determine the outcome if they plan to invest more eventually. if you start with $30 and eventually the market goes up to a little increase of $32 can not be compared with someone who started same time with you, at the rate $100.
Someone who started with $100 can also not be compared with someone who started with $1,000 or $1,000,000. This does not mean those with lower purchasing power should not get into bitcoin. A 100% increase would double their $30 to $60, a better deal than letting inflation gnaw at it if left in fiat. So also when the market is down to some extent, the person with $30 may likely loss more because of the money is small. Blockchain has the minimum amount one can invest if am not mistaken but if your amount is too small may be difficult to make easy progress.
You either gain or loss in percentages. 10% of $100 varies from that of $1,000, they are gaining or losing according to their investment. - Jay - |
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Is server a factor for an exchange to be decentralized? I thought when they don't hold your keys and your Bitcoin, the exchange is consider as been decentralized, anyways, I have learn a new thing.
It is a consideration for an exchange to be truly decentralized. A centralized server means there is a direct point of attack which hackers can target to bring down the network and obtain logs of data. Not holding your keys is a step, but if the exchange is dependent on a centralized server it is centralized to an extent, it would be like bitcoin having a central node station where transactions are verified and not the current system with nodes located all around the globe. Bisq passes for a fully decentralized exchange. - Jay - |
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