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Eugenio
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May 24, 2011, 09:42:03 AM
 #1

I'm new to this forum, so I apologize if this has been answered before, but I couldn't find the answer yet.

I'm very curious as of what restricts the supply of bitcoins?  basically, what mechanism prevents some computer to create new bitcoins, and pass them as valid to other bitcoin clients?

It is because the bitcoins have to be cryptographically signed with a special private key?
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May 24, 2011, 09:43:34 AM
 #2

http://www.bitcoin.org/bitcoin.pdf + Read FAQ please

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May 24, 2011, 09:50:17 AM
 #3

The rule defining a valid coin is such that when half are found the rate at which they are found drops by half, when half the remain are found, it drops by half again, and so on. This leads to there never being more than a predetermined amount, which happens to be just under 21M because of rounding to the 8th decimal.

That flower is nice, but it's probably going to get old to people fast since it takes up half the screen every time you post.

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May 24, 2011, 09:53:59 AM
 #4

when half are found

The half is relative to a total amount which is arbitrarily set to 21M, a valid coin can be checked by going all the way back to its generation.

And please do read the FAQ before thinking 21M isn't a very big amount Smiley

Also welcome here

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May 24, 2011, 09:56:51 AM
 #5

when half are found

The half is relative to a total amount which is arbitrarily set to 21M, a valid coin can be checked by going all the way back to its generation.

And please do read the FAQ before thinking 21M isn't a very big amount Smiley

Also welcome here

Thanks. I should probably get in the habit of directing to links instead of banging keys for 15 seconds every time. It would probably be interesting to compare my answers to the same question over time. They probably get shorter and less accurate.

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May 24, 2011, 10:08:58 AM
 #6

Welcome to Bitcoin.

A transaction is only valid if it's either a block generation reward or its input references unspent outputs. So you can't make them out of thin air.

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May 24, 2011, 10:09:47 AM
 #7

Thanks. I should probably get in the habit of directing to links instead of banging keys for 15 seconds every time. It would probably be interesting to compare my answers to the same question over time. They probably get shorter and less accurate.
Next step would be making a keyboard shortcut Smiley

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May 24, 2011, 10:21:23 AM
 #8

Thanks. I should probably get in the habit of directing to links instead of banging keys for 15 seconds every time. It would probably be interesting to compare my answers to the same question over time. They probably get shorter and less accurate.
Next step would be making a keyboard shortcut Smiley

That would be great. alt+2, alt+7 and I could look like a forum god, spewing knowledge.

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May 24, 2011, 10:39:43 AM
 #9

Pretty sure this is spam. Who advertises iPad cases in their sig?

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May 24, 2011, 10:57:57 AM
 #10

Pretty sure this is spam. Who advertises iPad cases in their sig?

Would a spammer make a question that specific? That seems a bit to good for someone who's job was writing a post that wouldn't get deleted.

Did mod remove links?

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May 24, 2011, 11:07:03 AM
 #11

Pretty sure this is spam. Who advertises iPad cases in their sig?

Would a spammer make a question that specific? That seems a bit to good for someone who's job was writing a post that wouldn't get deleted.

Did mod remove links?

Yes, I removed the link.
I'm not deleting the post because it's still a valid question.

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May 24, 2011, 11:21:37 AM
 #12

Pretty sure this is spam. Who advertises iPad cases in their sig?

Would a spammer make a question that specific? That seems a bit to good for someone who's job was writing a post that wouldn't get deleted.

Did mod remove links?

Yes, I removed the link.
I'm not deleting the post because it's still a valid question.
Was that really in order? People advertise their services in signatures. They should be bitcoin- related or accepting, but it's the person's first post, give them a break.

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May 24, 2011, 11:25:16 AM
 #13

Pretty sure this is spam. Who advertises iPad cases in their sig?

Would a spammer make a question that specific? That seems a bit to good for someone who's job was writing a post that wouldn't get deleted.

Did mod remove links?

Yes, I removed the link.
I'm not deleting the post because it's still a valid question.
Was that really in order? People advertise their services in signatures. They should be bitcoin- related or accepting, but it's the person's first post, give them a break.

It's extra suspicious that he's only got 1 post and already has multiple links out. If I'm reading the data correctly he made that signature and post and left in one minute seven seconds.

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May 24, 2011, 11:39:48 AM
 #14

Ok, I get it now. This post was actually a copy-paste of this post. So yeah, probably spam.
It's good to have friends.

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May 24, 2011, 11:41:40 AM
 #15

Ok, I get it now. This post was actually a copy-paste of this post. So yeah, probably spam.

Ah, clever robots. These things are going to eat us if we aren't careful.

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May 24, 2011, 04:49:27 PM
 #16

Everyone okay if I wipe out this thread now?

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May 24, 2011, 08:01:14 PM
 #17

There were useful replies, so I will just lock it.

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