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Eugenio
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May 24, 2011, 09:42:03 AM
Last edit: May 24, 2011, 07:58:17 PM by theymos |
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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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"There should not be any signed int. If you've found a signed int
somewhere, please tell me (within the next 25 years please) and I'll
change it to unsigned int." -- Satoshi
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davout
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May 24, 2011, 09:43:34 AM |
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FreeMoney
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May 24, 2011, 09:50:17 AM |
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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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Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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davout
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May 24, 2011, 09:53:59 AM |
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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  Also welcome here |
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FreeMoney
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May 24, 2011, 09:56:51 AM |
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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 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. |
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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Meni Rosenfeld
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May 24, 2011, 10:08:58 AM
Last edit: May 24, 2011, 11:22:50 AM by Meni Rosenfeld |
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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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davout
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May 24, 2011, 10:09:47 AM |
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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 |
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FreeMoney
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May 24, 2011, 10:21:23 AM |
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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 That would be great. alt+2, alt+7 and I could look like a forum god, spewing knowledge. |
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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rebuilder
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May 24, 2011, 10:39:43 AM |
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Pretty sure this is spam. Who advertises iPad cases in their sig?
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Selling out to advertisers shows you respect neither yourself nor the rest of us.
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Too many low-quality posts? Mods not keeping things clean enough? Self-moderated threads let you keep signature spammers and trolls out!
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FreeMoney
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May 24, 2011, 10:57:57 AM |
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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? |
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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Xunie
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May 24, 2011, 11:07:03 AM |
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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. |
Ignore this: 734d417914faa443d74e8205f639dfb0f79fdc44988ecae44db31e5636525afe
Caffeinism -- a toxic condition caused by excessive ingestion of coffee and other caffeine-containing beverage.
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Meni Rosenfeld
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May 24, 2011, 11:21:37 AM |
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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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FreeMoney
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May 24, 2011, 11:25:16 AM |
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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. |
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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Meni Rosenfeld
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May 24, 2011, 11:39:48 AM |
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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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FreeMoney
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May 24, 2011, 11:41:40 AM |
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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. |
Play Bitcoin Poker at sealswithclubs.eu. We're active and open to everyone. |
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eMansipater
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May 24, 2011, 04:49:27 PM |
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Everyone okay if I wipe out this thread now?
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If you found my post helpful, feel free to send a small tip to 1QGukeKbBQbXHtV6LgkQa977LJ3YHXXW8B Visit the BitCoin Q&A Site to ask questions or share knowledge. 0.009 BTC too confusing? Use mBTC instead! Details at www.em-bit.org or visit the project thread to help make Bitcoin prices more human-friendly. |
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theymos
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May 24, 2011, 08:01:14 PM |
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There were useful replies, so I will just lock it.
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1NXYoJ5xU91Jp83XfVMHwwTUyZFK64BoAD
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