Mentor Monday, September 09, 2019: Ask all your bitcoin questions!

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Ask (and answer!) away! Here are the general rules:

  • If you'd like to learn something, ask.
  • If you'd like to share knowledge, answer.
  • Any question about Bitcoin is fair game.

And don't forget to check out /r/BitcoinBeginners

You can sort by new to see the latest questions that may not be answered yet.


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3 comments

  1. Dizz14

    |Author

    I’ve been trying to understand hashcash and proof of work with some struggle. From what I think I understand…

    A hash is taking an input and putting it through a function to turn it into something else in a way that can’t be turned back into the input. An analogy I saw was putting strawberries in a blender to make a strawberry smoothie.

    Apparently it takes a lot of computational power to do it and in the case of hashcash the difficulty changes so that it should only take around 10 minutes. If it took more than 10 mins the difficulty is decreased, if it took less the difficulty is increased.

    The first miner to complete the hash gets to add a block to the chain? The block consists of transactions and the “header” of the block is the hash that they completed? Also, what are the inputs and outputs of the hash, are they just arbitrary? Do they mean anything or are just a way to make it purposely difficult to add blocks?

  2. exab

    |Author

    What exactly do ElectrumX and Electrum Personal Server do? In other words, what is missing in-between Electrum and Bitcoin Core? How exactly do ElectrumX and Electrum Personal Server fill the gap, respectively? What are the differences, including pros and cons, between them? I’ve read the readmes. Still not getting it.

  3. acered24

    |Author

    So I see mentions of trillions in negative yielding bonds blah blah, and how magically that’s good for bitcoin, because obviously they could all buy bitcoin instead pumping everyone’s stack.

    Question is – why in the hell is there so much money in negative yield assets? Can’t some of it be cashed out, and used to buy something else? Like some stakes in blue chips, T bills, some airbnb properties, train car of ramen noodles? I get that it’s a lot of money to invest, but still.

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