Danny - I am back again!

After watching the video you shared plus some other videos I previously watched on blockchain, I have a much better understanding.

Example, when you said "By changing the first transaction, only the final step of building the tree needs to be repeated, so it is much faster than changing any transaction later in the block.", without understand the merkle tree, it is hard to understand why.  The reason why is because the merkle tree process starts from the bottom up when it pairs the transactions together.

More questions:

1. Could you explain why the hash is in "6b483045022100f57111d73ea20dc7d989bef2d8c4a2fc" and the example in the video is in "0000011000100100000001"?  This is computer science.   (I made the 01 string up.)

2. How does one byte of info like "ab" translate into the "01" string?

3. When you said, "Once all those different nonce values have been tried, then the miner (or pool) needs to change something else in the block header.  Typically this would either be the timestamp, or the first transaction in the block.", isn't the block header is just the nonce?  Do you mean that if all the different 4294967296 nonce values have been tried and still cannot solve the block, it will include the timestamp or the first transaction into the hash?   I know this part is probably very technical.

4. Technically or mathematically, how does 4 bytes create 2³², 4294967296 of combinations?

5. To follow up with the following:
Q: 3. If I submitted the same transaction (says pay Bob with 1BTC) with fee after the no-fee transaction was submitted, and it got executed, would the no-fee transaction get executed later and led Bob to receive 2BTC (assuming I have 2BTC in the same wallet)?

A: That depends on how you build the transaction.  If you use at least one of the same inputs in both transactions, then only one of the transactions can confirm. Once one of them confirms, the other becomes invalid (since it has an input that has already been spent). If there are no inputs that exist in both transactions, then they can both confirm.

How to generate the same inputs in multiple transactions?  In a layman term, the input hash would come from "Alice send 1 BTC out" and output hash would come from "Bob should receive 1 BTC"?

6. Back to the "voting" issue.  I read that the miners will continue on the longest chain when there are a split.  The video you shared also demonstrate that when Alice try to double spend her money, two chains occurred and the miners would eventually accept the longest one.  When this happened, what the temporary split happened, does Alice receive BTC reward from solving blocks in her own chain?

Thanks again in advance.

I like that idea.   

Yes, obtaining education and learning knowledge (and not necessary for degree) is very important.

The kid strikes again!

https://cointelegraph.com/news/bitcoin-teenage-millionaire-works-with-nasa-to-democratize-space

"The teenager who bought $1000 of Bitcoin in 2012 and became a millionaire is now working with NASA to launch a satellite.

In a second space-age announcement to come from the Bitcoin industry this week after Blockstream, Erik Finman says his Project Da Vinci aims to create a “global time capsule” and “democratize space.”

“We want to bring space exploration back to the present and give all people access,” Finman explains in a promotional video.

“To accomplish this, we’re creating a spaceship [...] that the world can actually use.”

The central concept behind Da Vinci is to cast the essence of humanity into orbit in the form of items and videos which anyone can contribute for consideration....."

Yes, they have weekly Youtube video on their weekly update.  Very informative.  Juilian even shared how he made millions of dollars (on paper so far, he could get the money out now if he wanted to) by buying BTC, ETH and another coin in Dec last year and sold them to get PAY when it was less than $1.  I am also in this for a long term investment.

Does the http://1ink.cc/xVle link check for BTC and BCH at Coinbase and Blockchain.info wallet? 

I see "No Result" when checking my public keys in the search.

I bought EOS, NEO, and PAY.  But no matter which I bought, I lost money instancely!

This will be my must watch video tonight.  Even though I am not doing anything with it, but learning blockchain technology has been my hobby.  I will follow up later.   

Danny - Thanks again!  Here are more questions for you.  I will need to digest your answers for 5(a-d) a little.  So more questions coming up afterward.

1. How to replicate an input and what piece of data makes input identical?  Example, if I send Bob 1 BTC to his Coinbase wallet from my Kraken wallet twice, is that enough to produce the same input?

2. Could you elaborate "As they process each and every transaction in the blockchain, they add any new outputs to their UTXO and they remove any inputs from the UTXO"? Why add outputs and remove outputs and not remove the transactions as a whole?

3. Why UTXO is keeping only the outputs?  When you said "Outputs" you mean the part of the code in a transaction, correct?

4. Where are the invalid transactions being kept?

Thanks again for your help, Danny!

1. So if a no-fee transaction is "floating" in the pool for a while, does it get removed?

2. Is there a way to cancel that no-fee transaction? 

3. If I submitted the same transaction (says pay Bob with 1BTC) with fee after the no-fee transaction was submitted, and it got executed, would the no-fee transaction get executed later and led Bob to receive 2BTC (assuming I have 2BTC in the same wallet)?

4. How do the miners detect if a transaction is a good one (ex: has enough money to pay) to be included into the block?  That verification process has to be very fast, right?

5a. Could you also explain how a make believe two transactions block get processed?   b. How the hash work in this and how blocks are linked?  c. How the miner submit the solved block for consensus?  d. How other miners verify to see if the block is indeed solved and how they vote (need >50%)?

Good explanation.  So where is the ETH going to be deposited?  Do the token holders need to set up the destination to receive the PAY token reward?  When will they start to issue the reward?  Is there a way to see the total spending transactions volume?

Danny - You are awesome!  Your examples are very practical and reflect the real life scenario.

Could you share which free website services, if any, that allow someone like me (just a curious learnser) to see the current available transactions and each of their fees? 

I have the following new questions for you:

1. Is it possible for a transaction with no fee whcih will never got processed?

2. I know that an average transaction size is about 375 bytes, but in therory, one transaction size could get as high a 1MB, correct?

3a. Would it be possible for a miner to include only few profitable but low bytes transactions to speed up the solving process to beat other competitors? 
  b. Is there a rule for this, as on average, it should take about 10 mins to solve a block? 
  c. Does the difficulty change based on the number of total bytes in the block?

The number of characters you provided in the prior example has 748 characters (374 byts) which mirrors the average size you mentioned.  I do understand that the average size probably flecturate between 500 to 750.

How is the dividend be determined?  What is the %?

Danny - I'm back. 

You got to be a developer in order to be able to share all these info.  They are deep!

Hope you can answer more of my questions below.

1. How do miners determine the amount of the fee?  Let's say if I made a buy transfer for 1 BTC, what is the maximum fee that a miner can include?  I heard that some high transactions fee were included by the sellers to induce miners to process them first?

2. Can miners pick the transactions to be included in their block?  Says there are 5000 transactions in the mempool and a miner selects 1000 transactions to be included in his or her block.

3. How do multiple inputs and outputs get created from someone?  Example, if I buy 1 BTC, that transaction would only create 1 input and 1 output.  In what type of  scenario would multiple inputs and outputs be created?  ( I refer the scenario as the "base" in question five in my previous post.) 

4. So each of the characters in the hashcode is one byte and there are an average of 375 bytes in one transaction, therefore, the total number of transactions in one average block is 1000000/375?

Thank you in advance.

It is all voluntary.  The camera captures it and play it on TV.  It shows others how "hot" Bitcoin is and establish good promotion.

"Buy Bitcoin" sign appearred again today.

Buy Bitcoin’ Sign Appears During DOTA International Tournament
https://cointelegraph.com/news/buy-bitcoin-sign-appears-during-dota-international-tournament

"Bitcoin made an unplanned appearance at the most recent DOTA (Defense of the Ancients) International Tournament, as an audience member held up a ‘Buy Bitcoin’ sign during announcements of the televised event.

Bitcoin has been frequently popping up in unlikely locations.  The current stunt, intended to increase awareness of Bitcoin, is not the first of its kind, after an audience member at Janet Yellen’s congressional briefing did the same.

Both events indicate a growing awareness of Bitcoin and cryptocurrencies generally. The awareness may be part of the reason for the substantial price increases over recent months, with Bitcoin cresting $3700 today.
"

I expect more signs will pop up in sport events and many other places.  It is a way to promote Bitcoin as well as other cryptocurrencies.

THANK YOU, guys! 

If I have the private key and the password, how can I retrieve my coins if my computer which has the Myetherwallet wallet went kaboom? 

 

Once I buy them in Bittrex, can I just keep them in there?

Can anyone show me how to buy and store TenX tokens? 

Is there an easy way?

I also just discovered TenX.  Looks like it has good potential, but it seems hurt to buy it.