Welcome to the forum. You have joined on this forum with decent intentions, hope you will learn from here and contribute yourself for forum. There is two board where you will find most of technical questions about bitcoin and on the other hand there is technical discussion by experienced forum users.

1. Development & Technical Discussion
2. Bitcoin Technical Support

Also another board called Project Development could help you to know about more blockchain related project/website.

Also I will prefer to read more about this forum culture. You should know everything where you are spending time. This thread will help you to know most of important things about forum.

[GUIDES] on Bitcointalk. Index thread

The quoted part of the whitepaper doesn't have a direct relation to Bitcoin mining.
He had mentioned about the typical computer's RAM (Random Access Memory) growth per year according to Moore's Law as the reason why to keep the block headers in the memory.

Relating it (by context) to mining doesn't make sense  

African giant Nigeria has set up it's first Bitcoin automated teller machine in the country, citizens of Nigeria are famous for bitcoin trading and investment and they are top in that aspect in Africa. Though this is not the first BTC ATM in the continent(Africa)as countries like South Africa, Kenya, Ghana Botswana, Uganda, Djibouti and Zimbabwe all have bitcoin ATM's in their countries. Many parts of Africa still remains underdeveloped, due to bad government, but bitcoin and cryptocurrencies can help alleviate the condition and state of things over there for the individuals taking the opportunity.
Source of information: https://investorsking.com/blockstale-btm-installs-bitcoin-atm-in-nigeria/

You mean like hash rate & block size history?

There are several websites for these, such as:
- https://www.blockchain.com/charts/hash-rate or https://www.blockchain.com/charts/avg-block-size
- https://bitinfocharts.com/comparison/bitcoin-hashrate.html or https://bitinfocharts.com/comparison/bitcoin-size.html
- https://www.statista.com/statistics/647523/worldwide-bitcoin-blockchain-size/
- https://coin.dance/blocks/hashrate/linear

You can find more if you searches on Google. Don't trust one source as sometimes they're biased.

Understanding how the forum works by learning it's rules and features. Searching is another way to help you understand more about bitcoin and then later on you can use your skills to pursue the career you want. Everything must start from scratch or starting from basic before you continue further.

Understanding how the forum works by learning it's rules and features. Searching is another way to help you understand more about bitcoin and then later on you can use your skills to pursue the career you want. Everything must start from scratch or starting from basic before you continue further.

Building a completely automated system to supervise transactions would be very tricky, imo.
Take for example; I want to purchase a camera from someone in another country and pay in Bitcoin. I send my BTC and it's held in escrow till I get the good delivered to me. Now, I can refuse to acknowledge that I received the goods even though I did, and this can delay the transaction. But when dealing with a human, the seller can prove (using documents) that the good was indeed sent and has been delivered and the escrow service provider can act on his own judgement.

I'm not a tech specialist, but a machine which would be able to correctly handle all types of transactions independently would be fairly difficult to develop.

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The system is not perfect, but it's better than the alternatives.
We should also note that escrow is not a prerequisite in every Bitcoin transaction. While a fiat transfer can not be done without a bank being involved.

To be honest, I don't think the whitepaper specifically addressed this issue and the focus of the paper is more on the creation of sound money which is not controlled by a third party (a.k.a fiat). This is where the foundation comes in. Bitcoin is a decentralized sound money, not a new escrow system. So, blindly saying that bitcoin is just the same with banks just by looking from one aspect is not right imo. A simple example, with banks they can hold your money and decide not to pay you if they found you're somewhat guilty by their own standards, while in bitcoin a transaction as long as it got confirmed then there's a high chance it will end on the receiver address.

Even if we compare bitcoin and bank case in terms of escrow, there are some differences. First, you can use multi-sig with as many people as you wish as the escrow. Of course, this has weaknesses too but that means you don't have to trust someone else completely, unlike a bank.

As for your second question, yes it is important, but I think the point satoshi making on his post is:
1. With irreversible transactions, the seller would be protected from scam such as double-spending, cancellation etc.
2. For the buyer, we can design another escrow system that uses bitcoin/cryptocurrency as the money (and this is done via several ways, multi-sig, trusted user on this forum for example, etc).


You can't completely trust anything. Even if there's a godlike code that can act as your escrow, those are just codes. Sometimes it's buggy but works, sometimes it broke completely. CMIIW.

The escrow is system is different from the trust system of the banking sector in that the bitcoin network or mode of transactions isn't built on the basis of a third party intervening in transactions to ensure it goes smoothly, that's exactly how the banking system works, but the bitcoin network allows transactions between two parties without any trusted third party, but in order to ensure the safety of the buyer, so that when he sends to the seller, the seller doesn't refuse to send the coins, then the need for an escrow who would hold the funds/take part in the transaction till the sender sends the coins. So the escrow system is just a form of protection from theft or fraud, transactions can even take place on the bitcoin network without an escrow, but in the traditional system there must be a trusted third party in the transaction, that's the difference.
Just as i said above, the escrow system doesn't go against "satoshi's" principles because it is not a compulsory factor in transactions, the escrow simply takes part in the transaction, like a part of a multi signature wallet, to make sure funds are sent by the buyer and coins sent by the seller, they assure safety and protection.

Escrow is a difficult problem to solve. I’m not sure anyone has ever gotten it right. Surely an automated solution of any kind will have flaws as will a human being acting as a middleman. However, I still believe a trusted individual is far superior than any automated system, at least with low volumes.

Welcome to the forum. I joined for the same reasons about 2years and a half ago.

I suggest that you begin with the free book Mastering Bitcoin, by Andreas Antonopoulos.

You can read it for free at github.

https://github.com/bitcoinbook/bitcoinbook

This can be difficult. But if a coin's price is moving differently to the rest of the crypto market, and the movement is very sudden, and there is no clear reason why it should be moving, then that means you might need to investigate further. Also if the price fluctuation is limited to a single exchange, that can be another clue.

'Whales' can of course do the reverse, and sell huge amounts of a coin to reduce the price, and then buy up more at a big discount. They can manipulate the price up or down to make money.

The only ways a whale can lose really are a) another whale manipulates the market in the opposite direction at the same time, or b) there is a genuine price movement in the opposite direction at the same time, say from breaking news (good or bad).

We do need to be careful about ascribing all sudden price movements to whales, when we don't know how often it is genuine whale activity, and how often normal market movement. Also a 'whale' is not necessarily an individual - there are pump-and-dump groups set up for the purpose of market manipulation. Remember also that big coins such as bitcoin are much harder to manipulate as they have much bigger order books.

Welcome to this community op. Just try to explore this community and acquire some knowledge. Can you please elaborate on what kind of career you are asking?

Crypto and Blockchain technology is very vast. It is good to start with the Basics first which gives you the foundation to understand other projects. Also, you need to build your technical skills through some online education platforms that offer courses. I am sharing some articles which may help you in your study -

• Top Blockchain Jobs and Careers You Need to Know About
• How You Can Build a Career in Blockchain
• What it takes to become a blockchain developer

The fees that are rewarded to miners are still bitcoin. Remember that we pay transaction fees with bitcoin too.

Sure. But it's pretty much the same with most if not all markets. If I personally own 10% total ownership of a certain stock, I could surely manipulate it to some extent. It's just that the stock markets are heavily regulated, in contrast to bitcoin and cryptocurrencies whereas it's pretty much free markets.

The fees that are rewarded to miners are still bitcoin. Remember that we pay transaction fees with bitcoin too.

Sure. But it's pretty much the same with most if not all markets. If I personally own 10% total ownership of a certain stock, I could surely manipulate it to some extent. It's just that the stock markets are heavily regulated, in contrast to bitcoin and cryptocurrencies whereas it's pretty much free markets.

you have to keep in mind that this "long run" is a little short of a hundred years from now. it is not like it would be any problem within our lifetime. and who knows how things are going to be like by then, with a bigger capacity in year 2100 each block could have enough transaction with a tiny fee to end up paying miners the same amount of money they are earning today with 12.5 bitcoin reward per block.

It's not every five years, it's four years. Halving happen once in a four year and will be continue till the last BTC. In other words, halving happens every 210000 blocks.
It's not like that halving will not have any negative affect. If the price continues to fall below than 5000, after this halving, more miners will give up mining. However, when price will go high, more miner will again join the network. So, the affects you are talking about are kind of increasing/decreasing chart.

This is all caused by low trading volumes and thin order books. The smaller the amount of coins in existing buy and sell orders, the easier it is for someone with a lot of coins to manipulate the price.
Say a coin has the following sell orders: 10 coins at $2, 50 coins at $3, 40 coins at $4, 800 coins at $5.
This means that with $20 you can buy all of the '$2' coins, with another $150 you can buy all of the '$3' coins, with another $160 you can buy all of the '$4' coins. So if you spend 20+150+160=$330, then you can single-handedly pump the 'price' of the coin from $2 to $5.
There's then a good chance that people will see the price rising, and decide this is a good coin to buy, and so everyone will start buying, increasing the price further. But only you, the 'whale' know the real reason the price increased. So now coins are trading for maybe $7, you can sell all or some of your coins for say a 'bargain' price of $5, and make a huge profit.

That's it in essence. If there is not much volume, it is easy for someone rich to manipulate the market. In practice this means that low cap alts are prone to pump-and-dump schemes such as the above, whereas something like bitcoin that has higher volumes is more difficult to manipulate - because it costs more to do so.

The fixed supply is simple, more info can be found here: https://en.bitcoin.it/wiki/Controlled_supply
On that page, look at the table in section "Projected Bitcoins Long Term" and you'll see how a fixed supply is created by the halvings.

As for negative effects: it is hoped that by the time the block reward is close to 0, miners will mine for the sum of the fees of the transactions in the block they solve. It's possible some miners won't be able to mine profitably and turn their ASIC's off... It's possible the diff will drop... We'll see


Not really my area of expertise. But a whale is somebody with enough cashflow to disrupt the unregulated market. Basically pump a coin by buying a lot of it, pump the price upwards, then dump their bag while the price is high.
Can't really give you more info about this subject tough... I'm not a trader