Latest posts of: uchalkql

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on: March 06, 2017, 02:45:44 AM

thanks a lot franky1, n0ne, bamboylee, maku. maku, is there not an option for you to choose the fee? franky1, let's hope there is not a conflict of interests. it would be terrible for Bitcoin. Bitcoin has such a huge potential. After learning about BitPesa, I was thinking if even banks could use Bitcoin for international transfers. Wouldn't it be funny?! =) They would create a Bitcoin address for each of their clients! lol If Bitcoin transactions had an space for exchange information, it would be even more powerful!

on: March 06, 2017, 01:57:48 AM

Good points numismatist. Most of them will just receive money ...

on: March 06, 2017, 01:40:40 AM

Hi, I was watching a video about Stellar, but in the first part a girl from BitPesa talks. It's really cool to know that Bitcoin is helping sending money to/from Africa! But then I was worried if the fee is too high for them. I then searched the current fee to have your transaction accepted fast, and it seems to be 45,200 satoshis https://bitcoinfees.21.co/ which corresponds to USD $0.5770955200 https://99bitcoins.com/satoshi-usd-converter/ Well, it seems that it is not a big problem, but it concerns me a little when I know that most people in Africa receives less than $ 2 / day. http://www.infoplease.com/ipa/A0908763.html Is it such a big problem to increase the block size to 2MB, so the fee could be reduced?

on: March 02, 2017, 06:52:33 PM

Quote from: BurtW on March 02, 2017, 06:13:10 PM Is this your question? Yes, that was my question. I confused difficulty with target. Thanks again BurtW!! I found a nice video that maybe will help others: https://www.youtube.com/watch?v=4QxOUwG8a2Y

on: March 01, 2017, 10:09:58 PM

Thanks a lot philipma1957 and BurtW!! =D

on: March 01, 2017, 12:28:43 AM

Hi, Say difficulty requires 9 leading zeros, then how much more processing(cycles) would be needed if it increase to 10 leading zeros? How hard does it get? Thanks a lot!!! =)

on: December 05, 2016, 07:40:40 PM

Quote from: steven0021 on December 05, 2016, 04:27:23 PM No, blocks are needed for lots of things. It's the way bitcoin is made. In the first place a node can have a different transaction from the rest of the network and won't have any way of knowing which transaction is conflicted for real if they don't download blocks. Hi. Thank you. They would need to update the transactions. The same way today they need to keep the blocks updated.

on: December 05, 2016, 03:38:03 PM

Quote from: BigBoom3599 on December 05, 2016, 03:19:21 PM Mining is also used as a consensus algorithm, if there's a fork on the network every node will choose the longest chain as the winning one. This makes it expensive to vote on a fork (by pointing your mining power towards it). If there were only nodes as a consensus algorithm, it would be "cheap" to create many votes and thus easy for a bad guy to abuse. Thank you. But why would we need blocks if there wasn't double-spending problem? Nodes would only contain the transactions. No blocks, no forks.

on: December 05, 2016, 02:39:21 PM

Hi, Is mining only used to prevent double-spending and to generate new bitcoins, or there are other reasons? Thank you!

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