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Anubiss
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September 30, 2015, 01:52:00 PM |
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From where do they come from.
Im new and I dont really get it.
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CanIHazBitcoin777
Member
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Activity: 70
Merit: 10
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October 01, 2015, 02:18:52 AM |
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What's the hardest thing to understand about Bitcoin for you? Why dont more people use it? It is very strange. Too many sheeple i guess, or just simpleton morons, yet we got hundreds of millions of people on the internet and so few in bitcoin... |
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neonshium
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October 02, 2015, 03:29:05 AM
Last edit: October 02, 2015, 04:38:54 AM by neonshium |
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What is the meaning of Hash.
Why some blocks are generated in 50 minutes and some are in 2 min gap.
Why some blocks are filled with only 500KB when it can accommodate up to 1MB of transactions.
Some blocks contain only mining reward transaction - why
Basically mining is the difficult part for me to understand.
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yunuzov
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October 02, 2015, 03:44:15 PM |
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To me, how could Bitcoin go trusted so fast?
I mean people most likely do not trust if you go at them and say "hey bro wanna buy some virtual currency money?" but bitcoin passed that stage. it is great.
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CanIHazBitcoin777
Member
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Activity: 70
Merit: 10
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October 03, 2015, 12:20:27 AM |
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To me, how could Bitcoin go trusted so fast?
I mean people most likely do not trust if you go at them and say "hey bro wanna buy some virtual currency money?" but bitcoin passed that stage. it is great.
At some point they will have no choice, other currencies are far worse, and all it takes is 1 google search to find bitcoin isnt it? Bitcoin will thrive!!! |
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RealBitcoin
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October 03, 2015, 06:10:19 AM |
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Why are people in the newbie section opening up 10 threads/day about the same topic, instead of using the search box in the upper-right corner.
It is a very hard thing to understand indeed...
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rickadone
Legendary
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Activity: 1176
Merit: 1024
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October 03, 2015, 04:25:46 PM |
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Like many other people I also do not understand what is mining. But I have some idea what is the need of it. Our transactions are carried by mining process. But, to use bitcoin we need not to understand the mining part.
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Rude Boy
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October 03, 2015, 04:34:36 PM |
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I didn't understand the cold storage, off-chin transaction, decentralization, mining and actually what will be sent when i do bitcoin trnsaction, what will is hidden the bitcoin private key? and everything on the bitcoin.  Doubts because, i cannot understand even someone explain because, this is not my profession.  |
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dothebeats
Legendary
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Activity: 3682
Merit: 1353
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October 03, 2015, 06:04:34 PM |
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Additional to what I've already mentioned, I'm currently studying the algorithm in which bitcoin is based on. Also, Merkle trees and ECC is a difficult thing to understand, especially if you don't have a basic knowledge on cryptography. But these things shouldn't be a concern to the average user--most of these terms involve users with a developer skill or has the knowledge to understand such things.
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Hugroll
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October 03, 2015, 06:10:20 PM |
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the hardest part for me is probally the hd multisignature wallets, i mean i get how it generates alot of private keys. but is that an infinite number? cuz there arent infinite private keys in total. |
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dothebeats
Legendary
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Activity: 3682
Merit: 1353
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October 03, 2015, 06:28:51 PM |
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the hardest part for me is probally the hd multisignature wallets, i mean i get how it generates alot of private keys. but is that an infinite number? cuz there arent infinite private keys in total. Most multi-signature wallet addresses only require two out of three private keys in order to spend the balance in it. -snip-
The actual requirement (number of private keys needed, their corresponding public keys, etc.) that must be satisfied to spend the funds is decided in advance by the person generating this type of address, and once an address is created, the requirement cannot be changed without generating a new address.
Source |
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CanIHazBitcoin777
Member
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Activity: 70
Merit: 10
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October 04, 2015, 06:00:38 AM |
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I didn't understand the cold storage, off-chin transaction, decentralization, mining and actually what will be sent when i do bitcoin trnsaction, what will is hidden the bitcoin private key? and everything on the bitcoin. Doubts because, i cannot understand even someone explain because, this is not my profession. Cold storage = offline storing private key Off chain transaction = Transaction that is resolved inhouse and then broadcaster later on the blockchain. Ex: Faucetbox Mining = Securing/ Broadcasting the transactions to the entire network Private key= Secret key that is used to access your money |
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Santoso
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October 04, 2015, 02:53:58 PM |
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For me as new comer it is about mining. I never give any try yet and I am lazy to learn about it as well at the moment. I may be find more diffulties later when I understand bitcoin deeper.
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ikydesu
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October 04, 2015, 05:13:01 PM |
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the hardest part for me is probally the hd multisignature wallets, i mean i get how it generates alot of private keys. but is that an infinite number? cuz there arent infinite private keys in total. Most multi-signature wallet addresses only require two out of three private keys in order to spend the balance in it. -snip-
The actual requirement (number of private keys needed, their corresponding public keys, etc.) that must be satisfied to spend the funds is decided in advance by the person generating this type of address, and once an address is created, the requirement cannot be changed without generating a new address.
SourceThat's right. More reference: http://bitcoin.stackexchange.com/questions/3712/how-can-i-create-a-multi-signature-2-of-3-transaction |
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arnav95
Newbie
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Activity: 56
Merit: 0
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October 04, 2015, 05:16:54 PM |
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When we mine bitcoin it us said that in order to fund a block we or our system has to solve some kind of problem. What kinds of problem are they? Now for solving those problems we are getting paid so does the solution if those problems help in advancement in certain industry, technology or does it help us to learn about the universe we live in??
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CanIHazBitcoin777
Member
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Activity: 70
Merit: 10
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October 08, 2015, 06:00:05 PM |
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For me as new comer it is about mining. I never give any try yet and I am lazy to learn about it as well at the moment. I may be find more diffulties later when I understand bitcoin deeper.
Suit yourself: http://en.bitcoinwiki.org/MiningOr just chekc the mining board of the forum... |
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vendetahome
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October 08, 2015, 06:33:37 PM |
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the hardest thing is to understand how the bitcoin works and how the mining works besides that using it is really easy in my opinion and it does not require any knowledge
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UserVVIP
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October 08, 2015, 06:58:33 PM |
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How miners work. And SHA-256
It is all so confusing!!!
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CanIHazBitcoin777
Member
Offline
Activity: 70
Merit: 10
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October 09, 2015, 06:40:27 AM |
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How miners work. And SHA-256
It is all so confusing!!!
Maybe if you would use a wiki or something, it takes less than 15 min to read through and it will make you understand it imediately. Dont be lazy guys. |
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Denker
Legendary
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Activity: 1442
Merit: 1016
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October 09, 2015, 01:35:54 PM |
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Getting started in the world of Bitcoin can be a little confusing.
I'd like to know what is the concept that confuses you the most and why.
Understanding what happens while a transaction takes place took me a lot of time to understand in the beginning. Since I knew how that works out I was able to understand how a double spend can work. Bitcoin is so much different to the fiat money world. And in that case understanding the bitcoin basics can take a few weeks to some months for some persons. But it's definitily worth to study it.I'm sure this will pay off in the future in some way. |
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