You’ll have to be more clear. I don’t know what you mean. Do you want the blockchain visualization website?
Hi,
I mean an outsourcing just like upwork.com but for blockchain work and paying with bitcont
Thanks,
B
P.S. And pay with bitcoint.
Hey guys, In the video of transaction, utxo & fees… why couldnt the total input just be equal to 0.7 as opposed to sending the whole btc balance in both wallets? (0.5 + 0.2 input = 0.7 output)
or 0.8 (taking into account 0.1 for fee)
What video are you refering to?
How does an SPV decide which node it will trust?
SPV wallets can’t decide which node to trust since they connect to random nodes in the network but most SPV wallets connect to 4 nodes to decrease the chance of being lied to by omission.
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Question about spending
Hello sir, I’m confused. Why do you say that we need to spend all the utxo? and the blockchain fee is the difference between the input and output.
What if I have 0.5 btc and I will only send 0.1btc to my friend will the remaining 0.4 btc be use a fee?
sorry for the newbie question
You don’t t have to spend all your UTXOs but If you have a UTXO worth 0.5 btc, It’s impossible to split UTXOs, so there’s no way to pay the exact 0.1 bitcoin. In its place, the network mints 3 new UTXOs: one valued at 0.1 bitcoin, one worth 0.39952 bitcoin and a very few amount fee = 0,00048 btc, fee can be selected by a wallet or you. Your friend receives the 0.1 bitcoin UTXO while you receive the 0.39952 bitcoin UTXO as change. So in that case fee = input(0.5) - output (0.1 + 0.39952).
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I remember seeing something about blockchain or some sort of derived tech which can be used for ham radios. Imaging a grind down situation where alternative tech is needed is interesting.
hello again everyone!
Another topic done and so far i’m learning alot about Bitcoin and Blockchain, loving the videos and easy to understand lectures. Going strong and moving on, see y’all on the next discussion forum.
Still do not fully understand the use of functions and hash functions. Please help!
so doesnt that defeat the purpose requiring a node to have a copy of the entire blockchain? whats the size of all that data anyway, im not clear on this.
Hash functions are widely used in cryptocurrencies to pass transaction information anonymously.
365.93 GB for Sep 24 2021.
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Thankyou for your response
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Just watched the videos about UTXOs and Mempool. A few questions on that.
Will your historic inputs ALWAYS stay and show for every transaction?
- I let’s say you have 100 BTC, that has been sent to you through 100 different transactions. Are you doomed to forever pay higher fees on your transfers than someone who got sent 100 BTC in one transaction? (Assuming you transfer it forward in similar amounts and recipients…)
Also one question about stale blocks and “confirming your transaction by waiting 6 blocks”. Ivan said that the stale block transactions just gets sent back to the mempool. So are they not guaranteed to be confirmed at some point? Or is it possible that the mempool denies it and sends the BTC back and you have to retry the transaction?
I’m a bit confused in the sense that “no coins are stored in wallet or on the blockchain, only private keys” i understand that bitcoins are not a tangible thing you can touch or feel but they are still a concept or a form of data like dollars in a bank account, so when Ivan says they are not stored on the blockchain or in wallet does he mean the funds are basically just a data entry in the ledger? Because i would still say after receiving UTXO’s then your funds are still virtually stored in the wallet…and saying they are just a data entry in my mind is really the same thing since the coins aren’t tangible. Please chime in and correct me if i’m wrong 