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I'm looking at a dollar bill. It says "this note is legal tender for all debts public and private" If you get into trouble just point this out to the police. It has the secretary of the treasury's signature on it.

You don't need to be able to scan the barcode - you can just type in the key. If you have a smartphone, you can use one of the many Android or Iphone scanner apps that use your camera for a scanner.

I'm late to this thread because I'm new to bitcoin. But to answer your question, immediately after printing a paper wallet, follow these steps exactly. http://youtu.be/PywI0BOxJpI

Why do I sometimes see the age of older blocks being reported as newer than more recent blocks on blockchain.info?

For example blockchain.info shows that block 282438 is 25 minutes old and block 282437 is 18 minutes old. Wouldn't the higher numbered blocks always have a lesser number for age?

Thank you. That answers the question that I asked.

I am trying to learn the mining protocol. I found python reference code here:

https://bitcointalk.org/index.php?topic=3546.0;all

I think I have it working. It connects to my bitcoin qt at localhost:8332.

I don't see anything in pyminer.py about the payout address for new coins. Does this come from my bitcoin wallet? I only have a single address. But what if there are multiple receive addresses?

[Edit: I found the answer to my question by experimenting. After successfully mining a block, Bitcoin QT created a new address for the fees.]

Thanks. I did yet more googling and came up with some links to help answer my question.

https://bitcointalk.org/index.php?topic=156918.0
https://en.bitcoin.it/wiki/Target


The answer to my question is right there in the second link: It's important to realize that block generation is not a long, set problem (like doing a million hashes), but more like a lottery. Each hash basically gives you a random number between 0 and the maximum value of a 256-bit number (which is huge). If your hash is below the target, then you win. If not, you increment the nonce (completely changing the hash) and try again..

The odds of winning the Powerball are something around 1 in 176 million which is only slightly better than me guessing your phone number. The odds of a hash solving a block are worse? Do you know what those odds are? I have done a lot of googling and I just get conflicting answers.

[Edit: I am also new to this forum. I should probably have posted on a sub category]

This is my first post here and I am new to Bitcoin. I have been doing a lot of reading in the past week and have not been able to find the answer to a question that I have.

First of all I have an old computer with a Nvidia in it which gets about 40M hashes. Before you laugh I am just figuring out how to set stuff up and do not expect this thing to do much but waste power.

My question is this: Is it theoretically possible, even if extremely unlikely, that a setup like this can solve a block? More precisely - is every hash just a random guess and is each guess just as (un)likely to be a correct one?

If the answer is yes then what are the odds of a guess being correct? I have heard things like "at the current difficulty it would take 10,000 years..." But I would like to know "at the current difficulty a hash has the probability of 1 in a billion to be correct". Are the odds worse than, say, Powerball?