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graphicx
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November 01, 2015, 05:33:22 PM
 #1

Hi all, Just made an account here.
Looking forward to learn more about crypto here.

As my name suggests, I do designing.
from everything forum related to professional business branding and 2D animations.
Maybe If people are interested I can setup a shop here. I wonder though

I have been using BTC for a while now
and wanted to grow my knowledge.
Until today all I ever did was get BTC as payment for designs and convert it to paypal on forum boards.
I gambled today and made $125, not much but enough for starter i guess.

I'd like to know more about blocks and what are those and other things I only heard about

excited to unveil the information about crypto here.

Thanks and Regards
graphicx
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November 01, 2015, 05:49:17 PM
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Welcome graphicx,

Before you start read all stickies in meta and since you love designing and all that create a thread for yourself about it .
Follow the forum rules and be happy. Smiley

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November 01, 2015, 06:04:54 PM
 #3

Hi all, Just made an account here.
Looking forward to learn more about crypto here.

As my name suggests, I do designing.
from everything forum related to professional business branding and 2D animations.
Maybe If people are interested I can setup a shop here. I wonder though

I have been using BTC for a while now
and wanted to grow my knowledge.
Until today all I ever did was get BTC as payment for designs and convert it to paypal on forum boards.
I gambled today and made $125, not much but enough for starter i guess.

I'd like to know more about blocks and what are those and other things I only heard about

excited to unveil the information about crypto here.

Thanks and Regards
graphicx

Feel free to ask questions here, i will try to answer them. Meanwhile, you could offer your services in the service section. However keep in mind you will meet much distrust at first. Such is the nature of internet and money.

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November 01, 2015, 07:07:15 PM
 #4

Welcome graphicx

Youtube is also a good source to get more bitcoin knowledge.
for example How Bitcoin Works Under the Hood

If you find my post useful send some BTC: 167XM1Za8aG9CdbYuHFMpL2kvPsw6uC8da
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November 01, 2015, 07:54:13 PM
 #5

Hello mate and welcome to the forum! You need to learn, read and research. Informations are really everywhere! On YouTube, you can Google a lot, even read a white paper or try reading it, since it is somewhat technical.

Feel free to ask questions about everything that you don't understand and that seems unclear to you. Someone here will help you in no time!

Cheers!
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November 01, 2015, 08:02:48 PM
 #6

hi graphicx

welcome to here . You need to learn, read and read and read .You must be read  Grin and also you have to be careful with some issues

Have a nice time in here bro  Wink

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November 01, 2015, 11:02:15 PM
 #7

Have a biscuit from me. Congrats on the gambling win. If I were you I'd try not to make a habit of it. If you simultaneously continued to gamble and learnt about Bitcoin's possible future implications you might squeal at the idea of pissing it away.

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November 01, 2015, 11:15:36 PM
 #8

Welcome!
Pretty new here myself but there seems to be a LOT of great resources waiting to be discovered in the posts.

Lots of newbies and veterans alike discussing and sharing ideas which is great!

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November 02, 2015, 03:49:40 AM
 #9

Welcome. Feel free to offer your services on the services section of the market place. Since you are a newbie, be sure to present a portfolio with past work and always use escrow Smiley.
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November 02, 2015, 03:56:55 AM
 #10

-snip-
I have been using BTC for a while now
and wanted to grow my knowledge.
Until today all I ever did was get BTC as payment for designs and convert it to paypal on forum boards.
I gambled today and made $125, not much but enough for starter i guess.

I'd like to know more about blocks and what are those and other things I only heard about

excited to unveil the information about crypto here.

Thanks and Regards
graphicx
Generating blocks is the process of Bitcoin mining. The miner assembles transactions in an order and calculates the merkle root to be used for the block header when solving for the block. If the block only contains the coinbase transaction, the merkle root is that. Rest of the block header are filled with other necessary data and the miner can start hashing it. It is considered a valid block if the hash of the header is lower in value than the current target. Nonce are increased for each attempt till it is found. Blocks are used to prevent double spending (spending spent coins). After 6 confirmations, it is hard for attackers without 51% of the network hashrate to reverse their transaction.














 

 

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JumperX
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November 02, 2015, 04:23:33 AM
 #11

hi welcome to the forum. be sure to check all the stickies that you will found as it will help you understand how things work here Smiley

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November 02, 2015, 04:30:42 AM
 #12

Welcome to Bitcointalk! I see you already get your question answered by some of out senior member here so I will not talk much about that. I see that you have a good start - won $125 worth of Bitcoin from gambling. However, please be caution with your money. Check out this thread https://bitcointalk.org/index.php?topic=1129534. Most of the people said that their worst mistake was to gambling their Bitcoin. Also, do not join any HYIP/Ponzi. They might be profitable in short term but in long term you will loss more than you earn. Do check out some faucets if you have not. WeekendBitcoin and Bitcoin Aliens is my favorites. They are consider dust to some people but it can be used to cover some transaction fees in the future.

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November 02, 2015, 04:35:08 AM
 #13

hi graphicx

welcome to here . You need to learn, read and read and read .You must be read  Grin and also you have to be careful with some issues

Reading all you can here will help you frame your questions and get a more specific answer from fellow forum members.

Good luck with your future gambling!

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November 02, 2015, 06:21:28 AM
 #14

So, where did you gamble to win that money. I would say that is more of a gain than most of the new users here will ever get.
graphicx
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November 02, 2015, 09:59:15 AM
 #15

Welcome graphicx,

Before you start read all stickies in meta and since you love designing and all that create a thread for yourself about it .
Follow the forum rules and be happy. Smiley

Yes I need to do that. I'll read it all first to at least know the terminology.

Feel free to ask questions here, i will try to answer them. Meanwhile, you could offer your services in the service section. However keep in mind you will meet much distrust at first. Such is the nature of internet and money.

Yes, Thank you. I understand that. I have been active on other boards for few months and worked. Thanks for guidance

Welcome graphicx

Youtube is also a good source to get more bitcoin knowledge.
for example How Bitcoin Works Under the Hood

Thanks a lot for the link.

I saw the whole video and now I know what exactly is a comfirmation and blocks.
also what is 51% attack, mining.
It covered everything I had in mind yet.

Hello mate and welcome to the forum! You need to learn, read and research. Informations are really everywhere! On YouTube, you can Google a lot, even read a white paper or try reading it, since it is somewhat technical.

Feel free to ask questions about everything that you don't understand and that seems unclear to you. Someone here will help you in no time!

Cheers!

Thanks for suggestions.
Yes I'm going to spend a while grapsing what am I dealing with and how can I efficiently use it.

hi graphicx

welcome to here . You need to learn, read and read and read .You must be read  Grin and also you have to be careful with some issues

Have a nice time in here bro  Wink

What kind of issues?  Huh

Have a biscuit from me. Congrats on the gambling win. If I were you I'd try not to make a habit of it. If you simultaneously continued to gamble and learnt about Bitcoin's possible future implications you might squeal at the idea of pissing it away.

Thanks, yes I won't make it a habit. probably
what kind of future implications?
isn't it only can be used to make transactions Huh

Welcome!
Pretty new here myself but there seems to be a LOT of great resources waiting to be discovered in the posts.

Lots of newbies and veterans alike discussing and sharing ideas which is great!

everything people discuss here goes above my head.
I need to know basics first.

Torus gave me that video and that helped me a lot.
Will get deeper by time

Generating blocks is the process of Bitcoin mining. The miner assembles transactions in an order and calculates the merkle root to be used for the block header when solving for the block. If the block only contains the coinbase transaction, the merkle root is that. Rest of the block header are filled with other necessary data and the miner can start hashing it. It is considered a valid block if the hash of the header is lower in value than the current target. Nonce are increased for each attempt till it is found. Blocks are used to prevent double spending (spending spent coins). After 6 confirmations, it is hard for attackers without 51% of the network hashrate to reverse their transaction.

Thanks for the information. so it takes 10 minutes roughly to solve a block and how many transactions are in one block?

now one block contains transactions happened at the same time right?
so means one block contains all the transactions happened at 3:01:22 lets say (H:M:S)
and it takes 10 minutes to get 1 confirmation.
so in the mean while until it got solved there were 600 more blocks generated (without considering milliseconds, that'd be 60000)

wouldn't it only add up by time and people will have to wait years to get confirmation?

hi welcome to the forum. be sure to check all the stickies that you will found as it will help you understand how things work here Smiley

Yea, absolutely need to do that

Welcome to Bitcointalk! I see you already get your question answered by some of out senior member here so I will not talk much about that. I see that you have a good start - won $125 worth of Bitcoin from gambling. However, please be caution with your money. Check out this thread https://bitcointalk.org/index.php?topic=1129534. Most of the people said that their worst mistake was to gambling their Bitcoin. Also, do not join any HYIP/Ponzi. They might be profitable in short term but in long term you will loss more than you earn. Do check out some faucets if you have not. WeekendBitcoin and Bitcoin Aliens is my favorites. They are consider dust to some people but it can be used to cover some transaction fees in the future.

Thanks for the thread.
I read few pages. There were few terms i didn't understand
I'll get to them later

also about weekendbitcoin, it asks for an address.
I use circle which gives me different address everytime.
How should I use it

Reading all you can here will help you frame your questions and get a more specific answer from fellow forum members.

Good luck with your future gambling!

I will probably not as what gentlemand said kinda bothers me

So, where did you gamble to win that money. I would say that is more of a gain than most of the new users here will ever get.

bustabit
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November 02, 2015, 10:05:34 AM
 #16

hi graphicx

welcome to here . You need to learn, read and read and read .You must be read  Grin and also you have to be careful with some issues

Have a nice time in here bro  Wink

What kind of issues?  Huh
Possibly some scamming around here. Do your research about the reputation, don't only rely on the trust system and use escrow. Smiley
Generating blocks is the process of Bitcoin mining. The miner assembles transactions in an order and calculates the merkle root to be used for the block header when solving for the block. If the block only contains the coinbase transaction, the merkle root is that. Rest of the block header are filled with other necessary data and the miner can start hashing it. It is considered a valid block if the hash of the header is lower in value than the current target. Nonce are increased for each attempt till it is found. Blocks are used to prevent double spending (spending spent coins). After 6 confirmations, it is hard for attackers without 51% of the network hashrate to reverse their transaction.

Thanks for the information. so it takes 10 minutes roughly to solve a block and how many transactions are in one block?

now one block contains transactions happened at the same time right?
so means one block contains all the transactions happened at 3:01:22 lets say (H:M:S)
and it takes 10 minutes to get 1 confirmation.
so in the mean while until it got solved there were 600 more blocks generated (without considering milliseconds, that'd be 60000)

wouldn't it only add up by time and people will have to wait years to get confirmation?
The max hard limit of a block is 1MB, given that an average transaction is 250bytes, the max transaction can be 4000+. Size differs due to number of inputs and outputs. Blocks contains the transaction that are in the mempool. The miner can choose which transactions to include or include none at all, ranging from unconfirmed transaction first broadcasted to transactions broadcasted recently. They do not have to be made at the same time. The time for blocks to be generated is not always constant. There are times when blocks are generated at 2 minutes apart or 30 minutes apart due to varience. But the difficulty is adjusted every 2 weeks to try to ensure the blocks would be at 10 minutes apart.

A block is solved on roughly 10 minute. I think you are interpreting the blocks as transaction that happened at the same time. Nope, miners mine blocks and try to confirm transaction into the blockchain, also known as the ledger.














 

 

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November 02, 2015, 10:12:27 AM
 #17

Welcome to Bitcointalk! I see you already get your question answered by some of out senior member here so I will not talk much about that. I see that you have a good start - won $125 worth of Bitcoin from gambling. However, please be caution with your money. Check out this thread https://bitcointalk.org/index.php?topic=1129534. Most of the people said that their worst mistake was to gambling their Bitcoin. Also, do not join any HYIP/Ponzi. They might be profitable in short term but in long term you will loss more than you earn. Do check out some faucets if you have not. WeekendBitcoin and Bitcoin Aliens is my favorites. They are consider dust to some people but it can be used to cover some transaction fees in the future.

Thanks for the thread.
I read few pages. There were few terms i didn't understand
I'll get to them later

also about weekendbitcoin, it asks for an address.
I use circle which gives me different address everytime.
How should I use it

Oh. That is easy. If you want a web based wallet, Blockchain.info will give you a static address. However, I would suggest you using something more secure such as MultiBit. If you want to access your Bitcoin everywhere like Circle, MyCelium will also give you a static wallet. Personally I am using MyCelium for Android and have no problem with them for a year and a month.

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November 02, 2015, 10:16:57 AM
 #18

I gambled today and made $125, not much but enough for starter i guess.

Watch out on gambling long term it really is not a good investment.  Look through the other threads and in beginner there are a lot of good examples and ideas on making some BTC.

I just would avoid gambling is my tip.  And welcome to the board.
graphicx
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November 02, 2015, 10:22:40 AM
 #19

Possibly some scamming around here. Do your research about the reputation, don't only rely on the trust system and use escrow. Smiley



The max hard limit of a block is 1MB, given that an average transaction is 250bytes, the max transaction can be 4000+. Size differs due to number of inputs and outputs. Blocks contains the transaction that are in the mempool. The miner can choose which transactions to include or include none at all, ranging from unconfirmed transaction first broadcasted to transactions broadcasted recently. They do not have to be made at the same time. The time for blocks to be generated is not always constant. There are times when blocks are generated at 2 minutes apart or 30 minutes apart due to varience. But the difficulty is adjusted every 2 weeks to try to ensure the blocks would be at 10 minutes apart.

A block is solved on roughly 10 minute. I think you are interpreting the blocks as transaction that happened at the same time. Nope, miners mine blocks and try to confirm transaction into the blockchain, also known as the ledger.

In the video linked in above posts i heard him say "blocks are transactions happened at same time"
maybe I misheard. Thanks for fixing it.

Also I probably won't be spending it until I have enough of them in my vault. Currently I hold 0.55 BTC only

Now new things coming up.
how are these adjusted?
Do they make solving faster?
it yes why aren't they doing it now.
I heard circle is trying to make them faster by allowing sending to accounts on circle itself to instant but not for external accounts yet.

Oh. That is easy. If you want a web based wallet, Blockchain.info will give you a static address. However, I would suggest you using something more secure such as MultiBit. If you want to access your Bitcoin everywhere like Circle, MyCelium will also give you a static wallet. Personally I am using MyCelium for Android and have no problem with them for a year and a month.

I used blockchain before until few days ago where people started loosing their money because of some problem. The site was down for few hours as well.
I moved my coins to circle then

Thanks for the suggestions.
I'll try MyCelium now

Watch out on gambling long term it really is not a good investment.  Look through the other threads and in beginner there are a lot of good examples and ideas on making some BTC.

I just would avoid gambling is my tip.  And welcome to the board.

Thanks for the tip. appreciate it.
Will surely look through that section.
but really all I see is campaigns and faucets that either won't let me in since I'm new user here or faucets takes a lot of time.
I earn more by designing things for people on other boards
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November 02, 2015, 10:38:56 AM
 #20

Possibly some scamming around here. Do your research about the reputation, don't only rely on the trust system and use escrow. Smiley



The max hard limit of a block is 1MB, given that an average transaction is 250bytes, the max transaction can be 4000+. Size differs due to number of inputs and outputs. Blocks contains the transaction that are in the mempool. The miner can choose which transactions to include or include none at all, ranging from unconfirmed transaction first broadcasted to transactions broadcasted recently. They do not have to be made at the same time. The time for blocks to be generated is not always constant. There are times when blocks are generated at 2 minutes apart or 30 minutes apart due to varience. But the difficulty is adjusted every 2 weeks to try to ensure the blocks would be at 10 minutes apart.

A block is solved on roughly 10 minute. I think you are interpreting the blocks as transaction that happened at the same time. Nope, miners mine blocks and try to confirm transaction into the blockchain, also known as the ledger.

In the video linked in above posts i heard him say "blocks are transactions happened at same time"
maybe I misheard. Thanks for fixing it.

Also I probably won't be spending it until I have enough of them in my vault. Currently I hold 0.55 BTC only

Now new things coming up.
how are these adjusted?
Do they make solving faster?
it yes why aren't they doing it now.
I heard circle is trying to make them faster by allowing sending to accounts on circle itself to instant but not for external accounts yet.

Difficulty are adjusted based on the average time used to solve the previous 2016 blocks. The minimum difficulty is one. If the difficulty rises, the target would be lower and vice versa. It can go down and go up but the time always aim to be at 10 minute. Difficulty adjustments are best made in a larger sample size. This is because of varience, if blocks continually adjust, they would go to very high and low very often as some blocks are generated seconds apart and some are generated hours apart.

Circle is basically providing a offchain transaction solution. This involves the trust on the operator to make sure that they are solvent and won't scam you. For blocks to be generated faster, a hard fork is needed and more blocks would be needed to reach the consensus of a 10 minute block. A famous incident was by inputs.io. The owner ran away with more than 4100BTC.














 

 

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