FAQ - Bitcoin

Crash Gambling

Place your bet and watch the multiplier increase from 1.0x upwards. Cash out any time to get your bet multiplied by that multiplier. But be warned, the game could crash at any random moment!
[link]

Bata.io

Bata Currency | Trading Symbol : BTA Cryptocurrency created to replace debt based barter tokens within a blockchain economy. Multi-Algo with Masternodes.
[link]

How does bitcoin scale in performance? (CPU and RAM usage, usually ppl talk about disk space)

I am currently reading "Mastering Bitcoin" and I learned a lot of news things. But a questions keeps bugging me:
If bitcoin grows around 1 terabyte each decade (i know, this is not yet the case), that is completely fine. But the fullnodes store the whole history and validate against the whole past, right? Also wallets, that "restore from a private key" (you setup a new wallet with an old private key, so it has to check the full bitcoin history for your funds).
Won't those be extremely slow mechanisms in the future? What is bearable now, will it be super cpu-intensive in several years? The mempool takes unconfirmed transactions, but in the end, it only "accepts" them, if they are valid. So the node has to validate all of them right? The longer the chain, the longer that takes, right? (not sure if a node really validates all of them, or if he just validates the block that a miner delivers. I read conflicting information on this topic or misinterpreted one.)
Disclaimer: I could be wrong on some things, please go easy on me. :)
submitted by TrudleR to Bitcoin [link] [comments]

How does bitcoin scale in performance? (CPU and RAM usage, usually ppl talk about disk space) (x-post from /r/Bitcoin)

submitted by ASICmachine to CryptoCurrencyClassic [link] [comments]

How does Bitcoin scale with single-chain LN to simultaneously maintain decentralization via blocksize and its value proposition of digital scarcity to replace fiat as a day-to-day payment vehicle?

With on-chain blockspace being the premium, and merchants adopting lightning at greater rate with the intention of completing point-of-sale transactions daily, how does this work?
What is the potential space-saving of bundling transactions, and the theoretical limit in the ideal circumstances?
Price is volatile, and if even a small percent of merchants close-out, does that not create more downward sell pressure, and a backlog of on-chain transactions?
If we utilized multi-chain LN, that would provide more on-chain space, but sacrifice the concept of digital scarcity of a sound currency. If we increased on-chain blocksize, that would sacrifice the core virtue of decentralization as less can reliably validate transactions, run full nodes etc.
Thanks in advance!
submitted by Jaw709 to Bitcoin [link] [comments]

Quick question: how does bitcoin scale to nation states?

Say I’m the European Union and we decide to adopt bitcoin as our central currency- how will bitcoin scale to the size and frequency of transactions to handle this type of network? Wouldn’t the blockchain get unmanageably big?
submitted by stackdatcheese3 to Bitcoin [link] [comments]

How does Bitcoin scale with single-chain LN to simultaneously maintain decentralization via blocksize and its value proposition of digital scarcity to replace fiat as a day-to-day payment vehicle? /r/Bitcoin

How does Bitcoin scale with single-chain LN to simultaneously maintain decentralization via blocksize and its value proposition of digital scarcity to replace fiat as a day-to-day payment vehicle? /Bitcoin submitted by ABitcoinAllBot to BitcoinAll [link] [comments]

How does Bitcoin scale with single-chain LN to simultaneously maintain decentralization via blocksize and its value proposition of digital scarcity to replace fiat as a day-to-day payment vehicle? /r/Bitcoin

How does Bitcoin scale with single-chain LN to simultaneously maintain decentralization via blocksize and its value proposition of digital scarcity to replace fiat as a day-to-day payment vehicle? /Bitcoin submitted by cryptoanalyticabot to cryptoall [link] [comments]

Quick question: how does bitcoin scale to nation states? /r/Bitcoin

Quick question: how does bitcoin scale to nation states? /Bitcoin submitted by SimilarAdvantage to BitcoinAll [link] [comments]

How does Bitcoin scale in between now and lets say 1/2 year from now?

submitted by Oldnoob1 to Bitcoin [link] [comments]

How does Bitcoin scale in between now and lets say 1/2 year from now? /r/Bitcoin

How does Bitcoin scale in between now and lets say 1/2 year from now? /Bitcoin submitted by BitcoinAllBot to BitcoinAll [link] [comments]

Behavior of Bitcoin with scalability

Does Bitcoin scale linearly with the amount of hashing power ? For a given network that can handle X transactions per seconds, does doubling the hashing power makes the network capable of handling 2X transactions per seconds ? Less, more or around that ? What model would be more accurate than a linear one ?
submitted by shape_shifty to CryptoTechnology [link] [comments]

All Cryto/bitcoin blockchain Veterans how much info on crypto/bitcoin blockchain does one have to consume to be very knowledgeable close 9 on a scale of one to ten

submitted by NopalOx to Bitcoin [link] [comments]

"Bitcoin #BSV is the only coin that pushes the limits. #STRESSTEST This is what the superior coin does to stay superior. BSV is the only 1 that can scale & do it all. BSV will remain that way til all the other altcoins fade, fail, then die."

submitted by cryptorebel to bitcoincashSV [link] [comments]

"There is a storm coming. Any not on the legal Bitcoin Ledger, via mass-on-chain scaling, will perish & not be around to see the new world. It doesn't matter if u deny the storm, nor does it matter how much time & money u spent hiding TXs and building blowup rube rafts. #BSV"

submitted by cryptorebel to bitcoincashSV [link] [comments]

"having Segwit coin BTC go up like this is amazing as I mine it to fund the real #Bitcoin #BSV. But it does show you how uneducated the market is about the value of utility. BSV is still the only undervalued long term digital asset because of its ability to scale massively"

submitted by cryptorebel to bitcoincashSV [link] [comments]

A few megabytes is too many per block? At least 2.5 Exabytes per day are transmitted for doing basic web-related activities via millions of different companies and computer systems. Why does anyone think human kind can scale like that using 1970's technology yet Bitcoin cannot?

A few megabytes is too many per block? At least 2.5 Exabytes per day are transmitted for doing basic web-related activities via millions of different companies and computer systems. Why does anyone think human kind can scale like that using 1970's technology yet Bitcoin cannot? submitted by KayRice to btc [link] [comments]

12-04 03:13 - 'Great idea Or just use Nano since it does not have BTC like scaling issues. Its actually 1 BTC = 6.33 Nano if you compare max supply.' by /u/alabruh removed from /r/Bitcoin within 20-30min

'''
Great idea Or just use Nano since it does not have BTC like scaling issues. Its actually 1 BTC = 6.33 Nano if you compare max supply.
'''
Context Link
Go1dfish undelete link
unreddit undelete link
Author: alabruh
submitted by removalbot to removalbot [link] [comments]

For adoption of Bitcoin Cash, we need a way to live for it and earn it. Point-Of-Sale systems and/or Debit Cards. First company that does this on a large scale, wins the race. Looking at you, @BitPay

Bitcoin Cash is just better money. I want to use it for everything, buy my groceries, earn it it.
Why would I use inferior fiat money for anything ?
submitted by ShadowOfHarbringer to btc [link] [comments]

Most shitcoins and many Bitcoin clones have more 24 hour volume than LN does. Its many many many times more efficient to scale Bitcoin Core by continually forking it or make shitcoins than to keep trying to push LN.

https://coinmarketcap.com/all/views/all/
Sort by Name. Scroll down to where all the BItcoin clones are. Or sort by volume and essentially anything over 50,000 USD does more 24 hour volume than LN. Most of LN's 1,000 BTC capacity is tied up and sits idle/not used. A requirement of the LN system is to stake/reserve capacity and plan for future incoming/outgoing transactions, otherwise when you want to receive/send you can't, thus you always need to have a majority of your capacity sitting idle.
The entire network capacity is only about 1,000 BTC. I have seen it said in a few places that the 24 hour volume on LN is usually less than 50,000 USD daily(would appreciate a link if someone has one for these stats). Going by another post someone recently made 70% of capacity is tied up by one company, and most of the "total capacity" sits idle and is NOT used. https://old.reddit.com/btc/comments/ba43kt/lnbigcom_owns_25_ln_nodes_with_over_700btc/
https://twitter.com/LNstats
https://bitcoinvisuals.com/lightning
https://1ml.com/statistics
Forking Bitcoin and getting small amounts of support for it creates more daily volume than LN does. Creating random shitcoins and hyping them up and getting maybe a few hundred people to use them offloads potential capacity from Bitcoin Core to the new shitcoin. LN is a complete waste of time. Want to get more capacity on Bitcoin Core chain without raising the block size? Make more Bitcoin clones and shitcoins. It is faster, cheaper, more efficient to continually fork Bitcoin Core than to continue to work on LN.
Usually the debate is only Bigger blocks/Graphene or LN/Liquid BTC. Why not make more Bitcoin Clones of Bitcoin Core?? Blockstream previously made a bunch of money by convincing people to use Bitcoin Gold and some other forked Bitcoin Clones. Why did they stop that? That really helped scale their cripple coin of 1 MB every 10 minutes(which by the way is 1/4th the speed of dialup). LN isn't the way to go.
I am pro BCH and not calling BCH a shitcoin. I find BCH works great, just like Bitcoin used to when I originally got into it in 2013 ish.
EDIT:
I remembered how I previously calculated this!
Doing some simple math... from https://1ml.com/statistics
You can derive the maximum amount of BTC transacted per day via averages.
Updated Channels (24h) 31,646
Average Channel Capacity 0.028 BTC $141.63
Average Channel Age 65.7 days 2 months
So you simply take on a daily basis 31,646 channels "updated" which I assume means they were used for transactions or someone routed through them.
So the average capacity of channels is 0.028 BTC x 31,646 = 886 BTC
We know the average channel age is 65.7 days, which means every 65.7 days someone goes through their average of 0.028 BTC basically. Assuming they load it with the average 0.028 BTC(which is very generous) we can do the following.
886 BTC / 65.7 days = 13.4 BTC 24 hour volume.
At a price of 5,000 USD each thats 67,000 USD.
Basically, I am taking the maximum number and figuring it takes 65.7 days on average for a channel to spend 0.028 BTC, knowing there is 31,646 channels, blah. Yes some channels can override the maximum but not many do, some of the biggest channels have 700 BTC total across maybe 50 channels? So in reality this bring up the average a lot. Likely the daily volume on LN is way less than 50,000 USD a day.
:)
submitted by DecentralizedNews_YT to btc [link] [comments]

Only 50% of bitcoin users can answer these basic bitcoin questions. How will you do?

1 General
1.1 What is Bitcoin?
1.2 What are bitcoins?
1.3 How can I get bitcoins?
1.4 Does Bitcoin guarantee an influx of free money?
1.5 Can I buy bitcoins with Paypal?
1.6 Where can I find a forum to discuss Bitcoin?
1.7 How are new bitcoins created?
1.8 What's the current total number of bitcoins in existence?
1.9 How divisible are bitcoins?
1.10 What do I call the various denominations of bitcoin?
1.11 How does the halving work when the number gets really small?
1.12 How long will it take to generate all the coins?
1.13 If no more coins are going to be generated, will more blocks be created?
1.14 But if no more coins are generated, what happens when Bitcoins are lost? Won't that be a problem?
1.15 If every transaction is broadcast via the network, does Bitcoin scale?
2 Economy
2.1 Where does the value of Bitcoin stem from? What backs up Bitcoin?
2.2 Is Bitcoin a bubble?
2.3 Is Bitcoin a Ponzi scheme?
2.4 Doesn't Bitcoin unfairly benefit early adopters?
2.5 Won't loss of wallets and the finite amount of Bitcoins create excessive deflation, destroying Bitcoin?
2.6 What if someone bought up all the existing Bitcoins?
2.7 What if someone creates a new block chain, or a new digital currency that renders Bitcoin obsolete?
2.8 Is Bitcoin open to value manipulation?
3 Sending and Receiving Payments
3.1 Why do I have to wait 10 minutes before I can spend money I received?
3.2 Do you have to wait until my transactions are confirmed in order to buy or sell things with Bitcoin?
3.3 I was sent some bitcoins and they haven't arrived yet! Where are they?
3.4 I sent too small of a transaction fee, is my bitcoin lost forever?
3.5 Why does my Bitcoin address keep changing?
3.6 How much will the transaction fee be? / Why is the fee so high?
3.7 What happens when someone sends me a bitcoin but my computer is powered off? 3.8 How long does "synchronizing" take when the Bitcoin client is first installed? What's it doing?
4 Networking
4.1 Do I need to configure my firewall to run Bitcoin?
4.2 How does the peer finding mechanism work?
5 Mining 5.1 What is mining?
5.2 Is mining used for some useful computation?
5.3 Is it not a waste of energy?
5.4 Why don't we use calculations that are also useful for some other purpose?
5.5 How can we stop miners from creating zero transaction blocks?
5.6 How does the proof-of-work system help secure Bitcoin?
5.7 Why was the "Generate coin" option of the client software removed?
6 Security
6.1 Could miners collude to give themselves money or to fundamentally change the nature of Bitcoin?
Answers can be found on the right hand side of of this reddit under FAQ. Yes this is a bit of a troll post.
I got 70% terrible just terrible. Obviously I had never even read the FAQ.
You kinda have to be a true believer to score 100% and it reads like a religious pamphlet.
THIS HAS BEEN MY LAZIEST AND POORLY EXECUTED POST! Decent basic idea I think but using the FAQ as the questions was just terrible. Copy past hack job done in McDonald drive thru on phone.
I apologize! It could have been a decent post with some effort.
submitted by chronicwastage to Bitcoin [link] [comments]

How does Bitcoin Cash going to scale?

It's a serious question, does bch plan to store all transactions on the blockchain?
I usually do 8 payments / day with fiat credit card.
The average size of a transaction is 500 bytes.
So, if we assume a global adoption of 3 billion people:
8 × 500 × 3.000.000.000
If I'm not wrong, this is 12TB per day.
Even if we reduce the adoption a lot, or reduce the number of transaction, the size is huge.
I'm not only worried about the space, but also about the block and transaction propagation.
submitted by daken15 to btc [link] [comments]

Bitcoin Erlay Protocol Reduces Node Bandwidth, Does Not Address Scaling Completely

Bitcoin Erlay Protocol Reduces Node Bandwidth, Does Not Address Scaling Completely submitted by NibiruHybrid to dashpay [link] [comments]

"A reminder. If Bitcoin does not scale onchain, it loses its security premise, one based on economics. Bitcoin is an economic system. Only one survives. The biggest blocks win. Gigabytes in 2019."

submitted by satoshi_vision to bitcoincashSV [link] [comments]

Bitcoin Scaling - Segwit Activation Live Look bitcoin blockchain size Bitcoin will be worth a MILLION dollars using the ... Can bitcoin scale? Bitcoin Scaling Solutions - Why Does Bitcoin Have Value?

Can Bitcoin scale to become a major payment network? The Bitcoin network can already process a much higher number of transactions per second than it does today. It is, however, not entirely ready to scale to the level of major credit card networks. Work is underway to lift current limitations, and future requirements are well known. Since inception, every aspect of the Bitcoin network has been ... The Bitcoin protocol’s main focus is providing security in transactions. It prevents double-spending by making it incredibly difficult to reverse a transaction because of the energy spent verifying these transactions. It only releases a set number of bitcoins into the world — and it does so very slowly. It is meant to be simple in purpose but highly secure in practice. When all of these ... The Lightning Network was originally proposed as a solution to address “the Bitcoin blockchain scalability problem,” as the network white paper phrased it. As the authors described, Bitcoin is unable to serve effectively as the world’s payment platform because it broadcasts all transactions to all network participants. “If each node in the bitcoin network must […] How does bitcoin scale in performance? (CPU and RAM usage, usually ppl talk about disk space) I am currently reading "Mastering Bitcoin" and I learned a lot of news things. But a questions keeps bugging me: If bitcoin grows around 1 terabyte each decade (i know, this is not yet the case), that is completely fine. But the fullnodes store the whole history and validate against the whole past ... Can Bitcoin Scale? Feb 23, 2018 at 18:30 UTC. Jul 7, 2020 at 20:54 UTC . You have some bitcoins in your wallet and want to spend them on your daily purchases. But what would that look like in a ...

[index] [11070] [13040] [26410] [22826] [50025] [18938] [31426] [49909] [21007] [6107]

Bitcoin Scaling - Segwit Activation Live Look

Bitcoin Q&A: Scaling and the block size debate - Duration: 4:46. aantonop 13,820 views. 4:46. Jordan Peterson: “There was plenty of motivation to take me out. It just didn't work" British GQ ... SF Bitcoin Devs Seminar: Scaling Bitcoin to Billions of Transactions Per Day - Duration: 54:41. Taariq Lewis 108,342 views. 54:41. Escaping war zones with a Bitcoin brain wallet ... I think Bitcoin will go to a million dollar evaluation within the next five years. I use the Kardashev scale to illustrate an example of why Bitcoin is the m... Segwit is going to activate at block 481824! We'll be doing a live broadcast with the team at World Crypto Network. Donate Bitcoin: 1NX6ijFGErktMGNYUHayD5iHD... Ripple's consensus algorithm is compared to bitcoin and ethereum and other blockchain-based coins. The fundamentals are discussed including scaling, storage complexity, future proofing, throughput ...

#