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graphicx
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November 02, 2015, 11:05:07 AM
 #21

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.

Thanks, but who decides the difficulty?
who makes those blocks?
what exactly is this bitcoin network and who runs it?

also about that inputs.io, it seems that it was hacked

https://en.bitcoin.it/wiki/Inputs.io

and everyone who lost their money were provided it back

https://bitcointalk.org/index.php?topic=248803.580
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November 02, 2015, 11:15:23 AM
 #22

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.

Thanks, but who decides the difficulty?
who makes those blocks?
what exactly is this bitcoin network and who runs it?

also about that inputs.io, it seems that it was hacked

https://en.bitcoin.it/wiki/Inputs.io

and everyone who lost their money were provided it back

https://bitcointalk.org/index.php?topic=248803.580
I'm not sure about it but I believe it's implemented in Bitcoin Core itself since the start. Blocks with a lower difficulty would get rejected by the reference client. Blocks are created by the miners who is solving complicated algorithm using specialised computer called Application Specific Integrated Chip(ASIC). They are designed for one thing, that is to mine Bitcoin. The backbone of Bitcoin network is the Bitcoin Core itself. Not everyone who lost their money had it back, most didn't. Also, he have a big negative trust rating.

I forgot to add: blocks would be faster if hashrate increases after the difficulty adjustment.














 

 

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gentlemand
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November 02, 2015, 11:16:05 AM
 #23


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


A lot of people here believe its value needs to be far, far higher than it is now if it's to be genuinely useful. That being a possibility, squandering it might fill you with regret a few years down the line.

It has the potential to change the way a lot of things are done, sending money abroad, online commerce, automated contracts that don't require lawyers, and there are many possibilities that we haven't even thought of yet. It's a very young technology.

graphicx
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November 02, 2015, 11:33:20 AM
 #24

I'm not sure about it but I believe it's implemented in Bitcoin Core itself since the start. Blocks with a lower difficulty would get rejected by the reference client. Blocks are created by the miners who is solving complicated algorithm using specialised computer called Application Specific Integrated Chip(ASIC). They are designed for one thing, that is to mine Bitcoin. The backbone of Bitcoin network is the Bitcoin Core itself. Not everyone who lost their money had it back, most didn't. Also, he have a big negative trust rating.

I forgot to add: blocks would be faster if hashrate increases after the difficulty adjustment.

Okay, now there mayy be millions of miners in the network, how is it that no two miner's solve a block at the same time. If it is how are numbers given, each is block is identified by it's own number isn't it.

A lot of people here believe its value needs to be far, far higher than it is now if it's to be genuinely useful. That being a possibility, squandering it might fill you with regret a few years down the line.

It has the potential to change the way a lot of things are done, sending money abroad, online commerce, automated contracts that don't require lawyers, and there are many possibilities that we haven't even thought of yet. It's a very young technology.

Yes, I'll think of it.
And as I said in first post, I just take payments and get it converted to PP on boards.
Currently I have no other use. I'm not a programmer or a coder.
But yes, I do look forward to having an increase in it's price.
for eg. in last month it rose to $340 now (circle, not preev)

also this brings another question.
Why is price on circle different than on preev?
gentlemand
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November 02, 2015, 11:38:44 AM
 #25


also this brings another question.
Why is price on circle different than on preev?


All prices are different from place to place. There's no one uniform price. The places that set the prices are the exchanges and each one has slightly different conditions. One might be more difficult to get money in and out of, another may have far fewer users so it's easier to move the price around.

They tend to smooth each other out, if there's one with a radically different price then people will exploit that difference for profit until it settles back down again.

Preev gets its price by combining the prices from multiple exchanges. I'm not sure what Circle's formula is but they're not an exchange.

graphicx
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November 02, 2015, 11:40:47 AM
 #26

All prices are different from place to place. There's no one uniform price. The places that set the prices are the exchanges and each one has slightly different conditions. One might be more difficult to get money in and out of, another may have far fewer users so it's easier to move the price around.

They tend to smooth each other out, if there's one with a radically different price then people will exploit that difference for profit until it settles back down again.

Preev gets its price by combining the prices from multiple exchanges. I'm not sure what Circle's formula is but they're not an exchange.

Thanks for that. But circle does allow of buying and selling on BTC within itself. It's not just a wallet.
However it's mostly limited to US only
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November 02, 2015, 11:44:25 AM
 #27

I'm not sure about it but I believe it's implemented in Bitcoin Core itself since the start. Blocks with a lower difficulty would get rejected by the reference client. Blocks are created by the miners who is solving complicated algorithm using specialised computer called Application Specific Integrated Chip(ASIC). They are designed for one thing, that is to mine Bitcoin. The backbone of Bitcoin network is the Bitcoin Core itself. Not everyone who lost their money had it back, most didn't. Also, he have a big negative trust rating.

I forgot to add: blocks would be faster if hashrate increases after the difficulty adjustment.

Okay, now there mayy be millions of miners in the network, how is it that no two miner's solve a block at the same time. If it is how are numbers given, each is block is identified by it's own number isn't it.
The numbers are block height. If two miners generate the blocks with same transactions included at the same time, it would depend on which blocks get extended first. If one of the block get continued by miner first, the other will be orphaned. If someone found a block while you were mining, you would have to recalculate the merkle root as the hashPrevBlock has changed.
A lot of people here believe its value needs to be far, far higher than it is now if it's to be genuinely useful. That being a possibility, squandering it might fill you with regret a few years down the line.

It has the potential to change the way a lot of things are done, sending money abroad, online commerce, automated contracts that don't require lawyers, and there are many possibilities that we haven't even thought of yet. It's a very young technology.

Yes, I'll think of it.
And as I said in first post, I just take payments and get it converted to PP on boards.
Currently I have no other use. I'm not a programmer or a coder.
But yes, I do look forward to having an increase in it's price.
for eg. in last month it rose to $340 now (circle, not preev)

also this brings another question.
Why is price on circle different than on preev?
Preev.com by default calculates the price based on a 24 hour weight volume. It can be changed by changing the settings. Circle.com has a different source and bases its price on that.














 

 

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BitBlender 

 













 















 












 
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gentlemand
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November 02, 2015, 11:47:39 AM
 #28


Thanks for that. But circle does allow of buying and selling on BTC within itself. It's not just a wallet.
However it's mostly limited to US only

Yes. It's a buying and selling service but not an exchange. Exchanges don't make the actual sales, they provide the platform for buyers and sellers to trade on. With Circle you're dealing directly with them.

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November 02, 2015, 11:58:49 AM
 #29

The numbers are block height. If two miners generate the blocks with same transactions included at the same time, it would depend on which blocks get extended first. If one of the block get continued by miner first, the other will be orphaned. If someone found a block while you were mining, you would have to recalculate the merkle root as the hashPrevBlock has changed.

-

Preev.com by default calculates the price based on a 24 hour weight volume. It can be changed by changing the settings. Circle.com has a different source and bases its price on that.

Okay, I get it now.
Thank you.

So, if i transfer say $25 from my circle account to external will it cost me extra or receiver will get less?

Yes. It's a buying and selling service but not an exchange. Exchanges don't make the actual sales, they provide the platform for buyers and sellers to trade on. With Circle you're dealing directly with them.

So Localbitcoins and coinbase are ust platforms?
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November 02, 2015, 12:36:27 PM
 #30

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

welcome on board

many people earning some coins doing graphic designing which you can do as well just keep an eye on digital good section

and can you please send me some examples from your past work ?

graphicx
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November 02, 2015, 12:38:52 PM
 #31

welcome on board

many people earning some coins doing graphic designing which you can do as well just keep an eye on digital good section

and can you please send me some examples from your past work ?

Thank you for warm welcome.
Yes I'll PM you link to my portfolio now.
gentlemand
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November 02, 2015, 12:39:03 PM
 #32


So Localbitcoins and coinbase are ust platforms?

Coinbase runs an exchange and a buying and selling service direct from them which are separate. Localbitcoins is a platform. They act as a middle man holding coins for the buyer until payment goes through. It's pretty much an Ebay for bitcoins.

graphicx
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November 02, 2015, 12:49:38 PM
 #33

welcome on board

many people earning some coins doing graphic designing which you can do as well just keep an eye on digital good section

and can you please send me some examples from your past work ?

Maybe I'm having some issues.


"The last posting from your IP was less than 360 seconds ago. Please try again later. The thing you were trying to post was saved as a draft. This limit decreases substantially as your account becomes more established."

I'll send you in a while.

Coinbase runs an exchange and a buying and selling service direct from them which are separate. Localbitcoins is a platform. They act as a middle man holding coins for the buyer until payment goes through. It's pretty much an Ebay for bitcoins.

For some reason I don't like LBTC. Maybe the way it looks. Thanks again though
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November 02, 2015, 08:13:57 PM
 #34

Maybe I'm having some issues.


"The last posting from your IP was less than 360 seconds ago. Please try again later. The thing you were trying to post was saved as a draft. This limit decreases substantially as your account becomes more established."

That is a standard error for newbies. There is a time restriction on how soon you can post or pm someone. Just post slowly and as you rank up, the level decreases to the point where you can post almost instantaneously. This happens around member or full member.

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November 02, 2015, 10:02:22 PM
 #35

Welcome to the forum fellow newbie!

graphicx
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November 02, 2015, 10:06:22 PM
 #36

Maybe I'm having some issues.


"The last posting from your IP was less than 360 seconds ago. Please try again later. The thing you were trying to post was saved as a draft. This limit decreases substantially as your account becomes more established."

That is a standard error for newbies. There is a time restriction on how soon you can post or pm someone. Just post slowly and as you rank up, the level decreases to the point where you can post almost instantaneously. This happens around member or full member.

Yes, Saw a detailed thread about memberships later.
Thank you


Also, Can anyone quote https://bitcointalk.org/index.php?topic=1235460.0 for me?
I posted images but they won't show up.
Being quoted as a reply will show them up.
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November 02, 2015, 10:10:36 PM
 #37


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


Well, that's cool...I agree with him. The future of Bitcoin is too interesting to burn them on gambling. Buy things you need with it to support the bitcoin economy or save it...those are the best uses (in my honest opinion).

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November 02, 2015, 10:20:31 PM
 #38


For some reason I don't like LBTC. Maybe the way it looks. Thanks again though

I haven't used it for about 18 months now but didn't have a single issue when buying through bank transfer. Go with the traders with the excellent feedback and it should be fine.

graphicx
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November 02, 2015, 10:41:03 PM
 #39

Well, that's cool...I agree with him. The future of Bitcoin is too interesting to burn them on gambling. Buy things you need with it to support the bitcoin economy or save it...those are the best uses (in my honest opinion).

I think that too

I haven't used it for about 18 months now but didn't have a single issue when buying through bank transfer. Go with the traders with the excellent feedback and it should be fine.

Thanks for quoting the thread.
I'll try LBTC
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