So… Why would people host nodes?
Miners get rewards, SPV-s dont have to download the whole blockchain.
Why would people want to host nodest if there are no rewards?
Ok lets do this right now guys!
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what does it mean about several confirmations in bitcoin newtwork?
Different things, I’m running it in parallel with my Lightning node and I also used to run my own explorer. 
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Each confirmation in Bitcoin means a new block has been added to the tip of the blockchain.
When you tx is mined that means one confirmation and each additional block after that is one confirmation
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I am gaining a lot more detailed information on how everything is relevant and how things work. It’s becoming more clear how “Decentralized” is so important and how secure and efficient it works compared to the financial systems we are currently using.
Looking forward to learning much more ahead and understanding the programming languages as well.
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Hi ogm
This article here might shed some light upon your Q? Have a read…hope this helps!
Hi CryptoDenise
I guess from where we sit it would make a lot of sense to purchase such an asset to capture more future value, like virgin bitcoin. This would just be speculating on price movement, applying a competitive advantage, and of course cashing out, at the right time, for a greater gain. (that’s of course if you trust the FED with QE money printing regime?)
Grayscale, on the other hand, is an investment trust which appears to be exclusively cryptocurrency investment geared. It also looks like you need to be a high nett worth client or body to qualify for there products.
Grayscale being an investment fund, its goal is to increase, enlarge, and grow the entrusted investor holdings. I don’t think they’d be looking to sell, because they’ve invested in the technology, not in the metric by which it is measured. (fiat currency) I think like many of us, they perceive the overhaul that is needed in the current, but failing monetary system.
Here’s an interesting article about them showing that they’re not just into Bitcoin, but indeed have their finger in a few different pies! Click here.
Finally, there a bit late in the game, Pantera Capital, who is hardly ever spoken about, has been in the space since 2013. They have made a fortune for there early adopting clients! Guaranteed…there not about to cash out!!! Find them here. Presently their Bitcoin Trust Holdings, according to this report 10,000% up in a down market. Check that here.
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Question on video Transaction, UTXO’s & Fees
It was said that there is a rule that you have to spend all inputs, I dont get that? When I have 1.0 BTC unused transaction output and I have want to send 0.5 BTC to a friend, why do I have to send then the other 0.5 BTC to myself again???
Thanks for clarification
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This is basically a rule of an UTXO based transaction model. Most work in this manner, but its not necessary. Some blockchains, like Ethereum have an account based model, where you do specify the amount you would like to have deducted from your account in these blockchains it works like that.
But because of that some people would argue that Ethereum is not immutable, since your balance changes over time.
To go back to your question, this is how Bitcoin achieves immutability by forcing you to always spent the entire UTXO and create two new outputs from them (one to the sender and one back to yourself as a new UTXO). If this wouldn’t be the case it would mean you would have to change the current value of your UTXO which is not possible on bitcoin.
This also doesn’t mean the value of your UTXO has changed to 0, when the UTXO becomes an input to a new tx it means it has been spent, but the value of that (now spent) output remains on the blockchain forever.
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ok thanks a lot, I understand, but this (the 0.5 BTC transaction to myself) happens in the background when I send the other 0.5 BTC to my friend, right?
Yes, most modern wallets should handle this in the background.
When this becomes important is when you want to create a raw transaction. In that case you must make sure to send the change back to yourself, otherwise all the remaining balance will go to the miner as a fee
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ok, thanks a lot for your quick reply
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Hi to whoever will answer my 2 questions,
-
Is it possible that more than two miners will mined the next block at the same time and let say there are three of them or more who will compete for the longest chain?
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Is it possible for bitcoin in reality not to have any nodes only miners?
or nodes are also necessary to have?.
thank you for answering my question guys.
Theoretically it is possible, but highly unlikely. The rules in that case would be the same though.
Each miner is also a node or at least connects to a full node. Back in the old versions of bitcoin the miner was part of the bitcoin core software, it has since been removed and is now an independent software.
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Now I know.
Thank you Ales, I really appreciate your help.
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Hello,
Maybe it is a bit a stupid question, but why are the tx fees increasing when more people use bitcoin?
Because of the block size limit. You can only cram so much transactions in a block that the consensus allows it. So if you want for your tx to be accepted in a block faster while there is congestion, you have to pay a premium
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thanks a lot
If I understood right, at least one computer of the miners must be connected to the Internet to enable a running blockchain. Does this computer need internet or it is possible that he runs over satellite ?
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