<snip>So the PoW essentially guarantees the security of a bitcoin transaction.
Thank you for response. So it means that the energy expended is not used to add transaction to the next block but to secure the transaction. So, all the miners commit energy to the system to secure it. If the system fails their cost of energy will waste. |
|
|
|
Think of it like a lottery which must be won. Let's say you buy 1 lottery ticket, while I buy 100 lottery tickets. I am 100 times more likely to win than you are, but on average 1 out of every 101 times we play you will win.<snip>
This comment is so understanding. You use example I know to explain it. You deserve more merit from me and some bitcoin if I have  Thank you very much. They join mining pool. Miners are now joining mining pool based on the requirements to produce a great hashrate that can be able to compete with other mining pools, the block reward and the transaction fee are shared by the miners in a mining pool.
Thank you. Is saying the same thing with the lottery example. I thank you. The important point that you are missing is that finding a solution is luck-based. Miners repeatedly guess until they get lucky and they find a solution. Guessing is the only known way to find a solution. So, even the slow miners have a chance to correctly guess a solution first, but their chances are lower because they can't guess as quickly.
This one is somehow different from other answers. You said to find solution is luck base. That is by guessing. That the person with high computational power will have the ability to guest faster. But someone can be guessing faster and will not be lucky. But someone guessing slowly will be more lucky. I think the lottery example is more suitable. |
|
|
|
I like this test. Thank you to the poster. I did the test one time and this is my score. I know I have known many things about bitcoin since I begin to read about bitcoin. My problem now is the technical part. I don't think that what I score is all because of my knowledge. I always have luck or talent to answer correctly any question that has options.  Can we have next episode of this question. As more episode is coming the more difficult. Question number 18. What is Taproot upgrade? The answer is simple than what Taproot upgrade is all about. And some answer also look like it has two correct answers in one question. I did guess work like 9 times and I was lucky 7 times. |
|
|
|
|
Thank you DannyHamilton for the example above that is like a written play between three people.
|
|
|
|
|
I know we have many miners here. I have a question. Someone should help me, I am learning. I read that in bitcoin mining for you to be given the next block of bitcoin your computer should be the first to find the solution to the mathematical puzzle. For your computer to be the first to find it within the 10 minutes. Your computer power should be high. Which means your hash rate is high.This means that the higher computers will always find the block on or before 10 minutes. If this is correct. Why are the people with low computational power still in the business? Are they there for only transaction fee or is there a time that anyone can be lucky to solve the problem even if you have the lowest computational power?
|
|
|
|
Someone should please help me show me how to send encrypted message or sign a message. I understand that if I loose my account to hackers I will have to sign a message to show the admin that I am the real owner of the account.
Take a look at the first post in this thread. There is a link to a guide that will show you how to send encrypted messages and sign messages using your key. Thank you for your response. I am able to come out with this. Please check if I am correct. -----BEGIN PGP MESSAGE-----
Version: Keybase OpenPGP v2.0.9
Comment: https://keybase.io/crypto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=p4lQ
-----END PGP MESSAGE-----
|
|
|
|
I think they need to change the timing to the period Euros and Copa América tournaments take place.
Summer starts from somewhere June.Both euro and copa America starts from June and end July. In Africa that period is heavy rain.The rain will disturb the broadcast. The rain will affect the stadium and people that want to watch. That is why the tournament is not played that time. The world can respect Africa to give them two or three weeks break to play their tournament if they value Africa. |
|
|
|
I won't say much about Dennis being blocked by Watford, they're in a bit poor situation and he's being like a lionel messi when they need him.
If you can recall his performance against Manchester United and scoring a goal in the process.
What pains me and gets me vexed the most is Victor Oshime, for what sake, I still think he's got a role to play if he does intends to play for the African Cup of Nations.
Even if Dennis is Lionel Messi of Watford. Does Barcelona or Psg stop Messi from going to Copa America? There is no respect for Africa. The players too don't have influence or the desire to play for their country or continent football. |
|
|
|
I have feeling that the people that wrote this paper are hiding some loopholes under technicality. It is an excellent idea but the road map is the same thing as the PoW. Where it was suppose to find another route it did not do it clearly. I expected to see a clear computing steps which will convert the inputs to useful outputs by maintaining hardness and usefulness. I saw in the document where they said. Unfortunately, existing
PoW schemes are often disconnected from the task they are attached to so that the work expended
is not actually useful in accomplishing that task. More importantly, the work and energy expended
is generally not useful for anything except proving that work had in fact been done. Does the above correctly describe bitcoin PoW? |
|
|
|
I don’t know if anyone here is a Bailly fan or no, but he’s possibly injured right before the start of this tournament, and it’s a coincidence but he got injured way back in 2019 too when he was selected for this tournament. Also another big star in the making Hannibal will be making his presence felt in this tournament, and for me he has every making of a big star so I’m hoping he gets the chance to shine out there. It will have been very bad if Bailey misses this year AFCON. I watch Bailey video where he celebrated man u win and just said he is tired. He did not say anything about injury. So he is fine and will play the tournament. |
|
|
|
You'll see people write about "the mempool" as if there is a single mempool somewhere that everyone has access to and which represents the current list of all unconfirmed transactions. This is not how it actually works. Every node maintains it's own mempool.
Therefore, they may choose a transaction that nobody else has in their own mempool, and they may not choose a transaction that nearly everybody else does have in their own mempool.
It's even possible that a pool operator might coordinate with a scammer to include the scammer's transaction in their block in exchange for a share of the scammer's profits (or the pool operator might even BE a scammer themselves).
Thank you for still replying in this thread. I have learn many things. I quote some of your statement for learning. You said is possible for a pool operator to coordinate with a scammer to include the scammer's transaction in their block. If transaction is verified by a node operator it will stay in the operator's mempool until a miner will add it to a block. A miner can chose a transaction to confirm. Does a node operator has the opportunity to chose the transaction to stay in his mempool. If yes, scammer can manipulate. But if no, please explain a little how the scammer and pool operator coordination will work. |
|
|
|
I know Victor Oshime has been in the top form but is his league competitive that one can say it reaches the standards of the premier league. I haven't watched him play but I hear he's doing wonders. Victor Osimen of Napoli is tested of Covid-19 ahead of 2021 AFCON. Read more What do you think about we starting a competition. It could be the closest or correct prediction of the games of the day. Maybe we can add scorers etc. What do you think. I believe this will drive up the engagement on thread. Youn can give your suggestions.
That is good. The competition should not be hard rule so that people can be willing to participate |
|
|
|
The fact that these non-upgraded nodes don't see witness data along with other data in transactions gives people an illusion that this data is somehow "separated" while in reality, it is not.
Thank you for this kind explanation. You also forgot to add one big thing. Alternative chain solution (wrapped bitcoin) that is being used by arbitrage traders, traders, workers, and many more to move bitcoins from exchange x to exchange y faster with 0.0000055 withdrawal fee instead of 0.0005 BTC.
Yes, is a big omission. WBTC deserve a place here for the role in solving bitcoin scalability problem. Especially in Defi and smart contracts. But my problem is some kind of centralization before you recieve WBTC |
|
|
|
|
Someone should please help me show me how to send encrypted message or sign a message. I understand that if I loose my account to hackers I will have to sign a message to show the admin that I am the real owner of the account.
|
|
|
|
|
I don't want to see it as high volatility. But what I am seeing now is that whenever bitcoin dips it use to recover so quickly than before. This means that as many people are selling. Many people are seeing it as buy opportunity.
Even if we cannot predict the future but with my small experience in Bitcoin. Bitcoin is still in early stage. Bitcoin will always recover and bitcoin will be still strong in the next 50 years.
|
|
|
|
From Ln to sig wit to taproot. Can we say that bitcoin scalability problem is solve The scalability problem isn't solved. It'd only be solved if there were no fees and the chain could weight us all for free. It's just blunted. is bitcoin TPS officially more than 7 now. Depends on which transactions you're talking about. Those that happen off-chain or on-chain? The former are obviously much more than just 7. Theoretically, as of November 2021, it can handle up to 40 million TPS. As for the latter, it depends on the median transaction size. Note that 7 TPS was the maximum. I suspect it hasn't changed much with Taproot. Ok. Which means the scalability problem will not be solve for ever. Also I mean the one that happens on chain. The ones that happens off chain are not suppose to be counted in my opinion so. He did this by separating the bitcoin signature data from transaction data.
Wrong. Signatures are still very much part of each transaction and are included in each block. The term SegWit stands for “Segregated Witness”. SegWit is an improvement over the current bitcoin blockchain which reduces the size needed to store transactions in a block and it is implemented as a soft fork on the Bitcoin network. By separating the transaction signatures from bitcoin transactions, it allows more transactions to fit within one block. This will result in smooth and rapid Bitcoin transactions. Please explain this well for me. |
|
|
|
This is a very good topic. I have bin reading the replies since and all of them are great. But I did not read all the reply in this topic. The person that start this topic try so much to analyse the arguments and the defence. After I know how much energy bitcoin consume I begin to research why the amount is high. I understand that why the energy is high is not because of number of transaction. It is for security of bitcoin network. Since then I check what order cryptocurrencies use to secure thier own network. Then I understand this two things. PoW and PoS Bitcoin which is using PoW was good from the beginning when only Satoshi and his team were mining in one room. But I think Satoshi did not know that Bitcoin will grow so big within short time. I begin to think that all the miners using higher computer struggling to solve one and the same problem that can only be solve by one person at a time is waste of energy. I was not sure until I saw it where one person say it on internet. I know the bitcoin network is now so big to change the whole protocol. But I saw another solution that was said by FORBES ADVISOR But what I don't know is weather the solution will work because bitcoin is not mined in one country alone. Introduce Carbon Credits or Fees
Carbon credits represent the government-sanctioned ability for a company to emit a certain amount of carbon emission into the environment. They’re often securitized, meaning they can be traded to by companies that don’t need to produce a lot of emissions to other companies that do. This incentivizes a company to produce less than its allotment—as well as penalizes those that go over. In the case of a crypto mining company, this might mean it purchases carbon credits from another company to help offset the amount of emissions it creates or switches to greener energy so it can earn a profit from selling its credits.
“These are a tried-and-true method under a variety of programs like the Clean Air Act to get to net-zero emissions for products,” says Scott Janoe, Chairman of Environmental, Safety, and Incident Response Section at Baker Botts. “So I would see a move toward stapling credit products to Bitcoin mining and transactions to offset those emissions.”
Brody similarly foresees consumers being able to pay to offset their crypto emissions. “I anticipate a future where it will be possible to simultaneously pay a transaction processing fee on networks like Ethereum as well as a carbon-offset fee, just as you have the option when traveling by air,” he says. Read more from Forbes |
|
|
|
In 2017 there was the last civil war in bitcoin. This civil war gave rise to the hard fork to whom that gave birth to bitcoin cash. The reason for the war is because of bitcoin scalability. One part of the network wanted the fork that will make bitcoin have upto 200 and above TPS. But the order part of the network believe that if the change is apply it will lead to centralization of bitcoin. The result is bitcoin cash from bitcoin.
Some week after the civil war. Pieter Wuille came out with segregated witness. But this one is soft fork. What seg wit did is to technically increase 1mb size of bitcoin block to 4mb. He did this by separating the bitcoin signature data from transaction data. So that there we be more space in the block to accept more transaction. The reason for this soft fork is to solve the scalability too.
Lightening network has be there before the 2017 war. But is adopting slowly. The Lightening network use second layer bitcoin protocol to process transaction fast and small transaction fees. This one is design to happen not on the blockchain but will be add to the blockchain after transaction. The reason for this too is to solve the scalability.
On november this year. Important update was made in bitcoin protocol call taproot upgrade. This is design to aggregate the different signatures in one single batch and validate. This help to increase the number of transaction to be made on bitcoin network. This is brought to solve bitcoin scalability problem too.
My question - From Ln to sig wit to taproot. Can we say that bitcoin scalability problem is solve
- is bitcoin TPS officially more than 7 now.
|
|
|
|
|
Liverpool will miss Salah and Mane. Even Keita.
For people that will win the tournament. From the top stars to watch you will discover that Ivory Coast, Senegal, Nigeria and the host Cameroon has good squad.
In the poll Cameroon is suppose to be there.
|
|
|
|
Facts to Know about AFRICAN CUP OF NATIONS AFCON- AFCON is to be hosted by Cameron
- AFCON 2021 will start by 9th January 2022 and end 6th February 2022.
- AFCON 2021 is still retaining the name AFCON 2021 even if is hosting in 2022.
- AFCON 2021 was suppose to hold in January 2020. But because of climate conditions it was shifted to hold January 2021. Again because of Covid-19 it was shifted again to hold in 2022.
- Ivory Coast is suppose to host the tournament but because Cameron who was supposed to host 2019 is now ready and it was given them. Ivory Coast will now host 2023 edition.
- Cameron was the first country to qualify for AFCON 2021 since 2019. They were the first to qualify because the host is always given automatic qualification.
- 24 countries will be competing for the tournament.
- 25 referees will officiate but no one is from Nigeria the giant of Africa.
- The final will be played at Olembe Stadium which is the highest capacity stadium of 60,000 capacity.
- Algeria is the defending champions.
Top 30 players to watch- Mohamed Salah - Liverpool - Egypt
- Naby Keita -Liverpool-Guinea
- Yves Bissouma - Brighton - Mali
- Koulivaly - Napoli- Senegal
- Kessie - Ac Milan - Ivory Coast
- Sadio Mane - Liverpool- Senegal
- Haller -Ajax- Senegal
- Mahrez - Man City- Algeria
- Wilfred Ndidi - Leicester- Nigeria
- Mendy-Chelsea- Senegal
- Read to 30
I love Africa Players because they are always strong and physical. I will follow up the tournament till the end. I pity some clubs like Liverpool how will they cope?
|
|
|
|
|
Show Posts
