The originating patent doesn’t suffice?
That is a patent for a hash algorithm that was in use long before Bitcoin existed. To say that the intention of developing SHA-2 was for Bitcoin is ridiculous. Look at this statement from NIST: March 15, 2006: The SHA-2 family of hash functions (i.e., SHA-224, SHA-256, SHA-384 and SHA-512) may be used by Federal agencies for all applications using secure hash algorithms. Federal agencies should stop using SHA-1 for digital signatures, digital time stamping and other applications that require collision resistance as soon as practical, and must use the SHA-2 family of hash functions for these applications after 2010.
Any rebuttals that you may have that are based on other conspiracy fantasies are equally ridiculous.
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... So in a few words only if miners can afford from their rewarded BTC, the mining cost. Only then bitcoin will survive. Due to halving, price will rise because if a miner finds pricy his equipment now, then he will retire 4 years later. ...
There is no issue. There will always be miners. Don't forget that people were mining bitcoins when the block reward was worth less than $1. The idea that all miners will stop mining if the price is too low or the difficulty is too high is naive. No matter what the price is or what the difficulty is, some miners can make a profit and some can't.
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I think that to sustain the mining rigs price will go up because almost 30% decline in btc mining companies shows that if price doesnt go up , it will be difficult for the miners to sustain , and it can impact in high transaction fees.
You have it exactly backwards. If the price goes up (doubles), then the miners are sustained. If it doesn't go up, then some miners will have to shut down some or all of their equipment. Transaction fees are not determined by the amount of mining (in the short term) because the amount of space in the block chain is held roughly constant by adjusting the difficulty every 2016 blocks. The block chain throughput is temporarily lower now because of the halving and that may be affecting fees, but that will change in a couple days when the difficulty is adjusted.
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These things were supposed to be ROCKET FUEL for the price of BitCoin ...
... according to people that pretend to know what they are talking about.
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I apologize for repeating what others have already written ... ... Next part is we will replace each decimal out of 64 with rest of the characters that is 0-9 and A-F. ...
When you use the word " decimal", it is very confusing. The word you should be using is " digit". "Decimal" is the name of the base-10 number system, just as "hexadecimal" is base-16 and "binary" is base-2. ... End Result : All possible combinations are fixed to: Possible Combinations : ( 1.1579208923732𝐸+77 ) + 64 of it. ...
An easier way to come up with the result: because there are 64 digits and each digit can have 16 values, the number of possible values is 16 64, or, 1.158x10 77. ... Now since Quantum works by learning mechanism...
That is not how a quantum computer works. Regardless, machine learning works by identifying patterns. In theory, SHA-256 hashes have no patterns, so machine learning is not likely to do very well. On the other hand, if there are any patterns, ML might be able to find them. ... So every seconds N-number of seeds are getting generated.
Over the period of time as per[Part - I : All Possible Combinations] we will end up finishing all the possible combinations in the ROW-1 of excel which are 1.1579208923732 E+77, a limited number! ...
The number is limited, but even the entire bitcoin network, which currently generates 2.4x10 17 hashes per second, would take 4.8x10 59 seconds, or 1.5x10 50 centuries to go through all possible values. That is 1000000000000000000000000000000000000000000 times the age of the universe. And reiterating what @pooya87 wrote, where would you store the event record? There aren't enough atoms on the Earth to store that much information. In the end, computational power and clever algorithms are not going to do it. You will need to find major exploits in the hash algorithm.
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Total Input 0.00000000 BTC Total Output 25.10838995 BTC BTC from Air ?? Yes. That is a special transaction. It is the first transaction in a block, called the " coinbase transaction". That is how bitcoins are created.
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Your example would require someone to use the same inputs in both of these transactions. Transactions are conflicted if they attempt to spend the same inputs. Are my thoughts of summing from the blockchain correct? It calculates from the blockchain how many bitcoins does that address have so he/she cannot spend 10 BTC (5 BTC twice) when he/she has only 5 BTC. The person that will mine the transaction will see that this guy doesn't have 10 BTC and will deny the second transaction. How can you create conflicting transactions? I don't think bitcoin core lets you try. No summing is necessary. Bitcoin doesn't track addresses. It tracks outputs. When a transaction spends from an address, it spends an entire output, and the excess is sent to a "change" address. If a node sees two transactions spending the same output, it will reject one of them. One way to create two conflicting transactions might be to create the transactions using two separate copies of the same wallet.
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I am interesting in becoming a miner. With the halving, what would be a good setup / dream setup for a simple at home operation?
Assuming you want to mine bitcoins (because this is a Bitcoin forum and the upcoming halving), ... A simple at-home operation would be an ASIC in shed away from the home and neighbors (because of the noise) with adequate power and ventilation.
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Others may disagree, but hardware wallets are expensive, and I feel that paper wallets (and your steps for making them) are reasonably secure. The main risks to a password-protected paper wallet are loss or damage and forgetting the password. You must take extra care to protect your paper wallet against those risks.
As for withdrawal, since you have no intention to spend the bitcoins in the near future, there is no point in discussing which wallet to use now. Most wallets support sweeping a private key, so there will probably be no issue.
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From what you give, the difficulty on the network is changed after ~ 1.4 days (2016/1440 blocks per day). It can take longer or shorter than 1.4 days to adjust difficulty depends on how fast each batch of 2016 blocks found.
There are 144 blocks each day, not 1440. So the difficulty changes every 14 days. The big difference is difficulty does not increase two times or halve like block rewards. Therefore I don't see why people care about how difficulty change around halving time. The miner capitulation or new participation makes more sense on difficulty changes.
The issue is the the halving may cause an large abrupt drop in the total hash rate, and blocks would take longer until the difficulty adjusts. This year, the difficulty is nominally scheduled to adjust a week after the halving. Suppose that the hash rate drops by half (not likely, but not impossible). In that case, blocks will each take 20 minutes and the difficulty won't change for two weeks. Cutting Bitcoin's transaction rate by half for two weeks could have a major impact.
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1. 1JpyMQDivyYBohM3zoMBXNiVg3u8F4F2PZ & 16sRvCPrJgKu7XBtR417jg6CndQMH7M27R = 34char ,not within 32bits ,why and which one compressed and which one is uncompressed 2. 73C89D6C48721B86C683643B094B3222331068A13846AD3475CDBF59394CE065 = 64chars , in 64bits for sha-512bits ? 3. 5JhH7tGFSnJSgwiqu2nzhvYJVyX2VPA97zzKfr37nPtpxgxMHGp = 51chars , within X-bits why ?? L16n9PGJknwzPJXgpev1hdKAEtTXaGoLqtx1QTSLwN3kgZqwn7Ax = 52chars , within X-bits why ?? Although they both are generated by the same sha-256 bits ecc ,plz explain ? Which one compressed and which one is uncompressed and purpose ANYONE CAN REPLY IN PLAIN ENGLISH EXPLAINING ME. First, addresses and private keys may be called "compressed" or "uncompressed", but they are not themselves compressed or uncompressed. It is the public key that is actually compressed or uncompressed. When an address is described as "compressed" or "uncompressed", it means that it was derived from the compressed or uncompressed form of the public key. When a private key is described as "compressed" or "uncompressed", it means that its public key is intended to be used in the compressed or uncompressed form. 1. There is nothing about an address that tells you if it is compressed or uncompressed. You can only tell by the pubic key or a flag in a WIF-encoded private key. 2. That is a 256-bit value in hexadecimal (base-16) form. I assume it is a private key. 3. Those are both WIF-encoded 256-bit private keys. An uncompressed private key begins with a "5", and a compressed private key begins with a "K" or "L". The uncompressed private key is encoded with an additional byte so it is typically one character longer. Read this: https://en.bitcoin.it/wiki/Wallet_import_format
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Thanks. There can never be enough pump-and-dump.
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Not a BIP, but the Edge wallet (formally known as Airbitz) uses a username and password to encrypt the seed, which is stores on its servers.
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I recommend that you read a lot more before you start posting stuff like that. It's all wrong.
Thanks for the constructive criticism. What specific explanation can you poont to be wrong? In fact, what do you mean by ' it's all wrong.' Show me and I'll take corrections but your comment is hard and vague to understand. My point is that you appear to understand less than you think. It would be ore helpful to others if you could understand more before trying to explain it to others. Hashrate versus Mining Difficulty.HashrateHashrate simply means the speed at which the outputs are computed per second.
This hashrate is measured in H/S ( harsh per second ). That means the speed at which the computer or mining equipment mines output in the blockchain per second.https://en.bitcoin.it/wiki/Hash_per_secondThe mining equipment used can be either be GPU (graphic processing unit) and CPU(central processing unit). GPU has a high H/s which increases the probability of profitability of the miner while CPU has a low H/s which decrease the probability of profitability of the miner.https://en.bitcoin.it/wiki/Mining#HardwareMining DifficultyThis is how hard it is to mine a block to add to the blockchain network.
From my research, I've been made to understand that hashrate affect the mining difficulty. Low hashrate increases the difficulty while high hashrate decreases the difficulty of mining.
https://en.bitcoin.it/wiki/Mining#Difficulty
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