Is there a quick guide for bitcoin terms (Nonce, Coinbase, Hash, tx…etc.) anywhere?
I don’t know how it works by email, but eventually every app has to communicate with bitcoind through bitcoin-cli on a full node
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I found this a little bit confusing, because the upper limit is infinity. But the result of a hash is a finite number, which is for SHA256 the number 2^256-1 or 0xFFFFFFFFFFFFFFFF in hexadecimal representation. The hash has finite length, so the highest possible hash is also a finite number.
The target line had been drawn in the middle between infinity and zero. But “half of infinity” should also be infinite, but the target is supposed to be an finite number. This was a little bit confusing.
I would use the hexadecimal representation and draw the upper limit as “FFF…” and the lower limit as “000…”.
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In this video Ivan said “And all transactions of the (blue) block will be returned to mempool.”. But maybe many transactions in the yellow and in the blue block were the same, because usually miners pick the transactions with the highest fee. So if all transactions of the blue block will be returned to the mempool, what about the transactions which are already inside the yellow block?
Will these transactions go back to the mempool and will be dropped by the mempool?
Or will these transactions not be returned to the mempool, because they are already inside the yellow block?
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So, would the transaction automatically create a new address that is linked to the same private key it was sent out from?
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On a hosted wallet, do you even get a private key, since the big cold storage host’s wallet uses its own key ? Do you only get a public key that is a reference for your account ?
Yes, your Wallet will do this automatically. But in some wallets with coincontrol, you could do this manually as well. You could even set more smaller outputs to different addresses you own
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I’m sorry but I don’t fully understand your question
Yes, it’s not really infinity.
The target hash for Bitcoin is a 256-bit number, and can be found in the block’s header. Mining a block requires the miner to produce a value (a nonce) that, after being hashed, is less than or equal to one used in the most recent block accepted by the Bitcoin network. This number is between 0- (the smallest option) and 256-bits (the largest option), but is unlikely to ever be the maximum number. Because the target hash could be a huge number, the miner may have to test a large number of values before being successful. An unsuccessful miner has to wait for the next block, which leads to miners likening the finding of a hash solution to winning a race or the lottery.
You’re doing an amazing job man 
Keep digging knaaawledge in the rabbit hole 
Good question, off course transactions that were included in the ‘yellow’ block, will not stay in the mempool because they are confirmed by the yellow miner. It’s possible that some of those transactions will appear in the mempool on some nodes, until everything is propagated (synced to the latest true state)
Ivan said that on a hosted wallet, such as Coinbase, there is a large wallet that really gets used instead of your personal wallet. Therefore a hosted wallet must give you some other reference, not the private key, correct? Since the host uses their private key to do a myriad of TXs?
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Hi everyone,
Just to be sure:
a bitcoin adress, is it the same as your public key?
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Are we going to need math and learn cryptography to go further and land a job or earn bitcoin.
I believe that is correct.
I have what I am sure is a basic question for those who are advanced, but here is my question. If I buy Bitcoin on an exchange such as CashApp, and then I send the BTC to a wallet that I have such as JAXX, when is the private key generated? Does it change from the time I bought the BTC on CashApp? This is what I am not sure about because there should only be “1” private key for each BTC, right? Thanks for reading and offering any help.
Your wallet stores your private key, so each time you make a different wallet it genenerates a new private key.
A private key is not attached to a bitcoin. It has nothing to do with your bitcoin.
Your private key, will ensure that you are the one having access to your wallet and it’s you who will be able to spend the bitcoin inside of there.
So let’s say you put your Btc on an exchange, well that exchange functions as a. hostwallet and will keep all private keys of its customers.
If you log into your account, where you hold your wallet, you will be able to spend the bitcoin that’s inside there.
If you want to send this bitcoin to ( let’s say) an Spv wallet on your iPhone, you will sign the transaction in your exchange account with your private key. In the transaction there is stated how much btc you want to send, that you want to send it to your PcV wallet on your phone and what time you sent the transaction.
What is not mentioned in the transaction is of course your private key. ( it has to stay secret, otherwise other people could spend the btc left on your exchanges account, that would be terrible. )
I hope this helped.
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I don’t think you will ever get to see your private key, but there is one attached to your account, how would others know that it is you spending the Btc for example. But what you get is the public key.
If I understand we’ll, the public key is your bitcoin adress, you can receive bitcoin from there.
I hope this is right, but this is what I understood.
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First, thanks for responding and I read your introduction…congratulations on your journey and how much you’ve educated yourself and that you’re continuing to press forward. 
Ok, so the exchange has the private key for the Bitcoin that you may have on an exchange? Will they be the entity to control that private key always? I’m confused still because let’s say everyone wanted to get their private keys and the exchanges couldn’t provide them because they’re using them for investing or something else. I think what has planted this thought into my head is that I’m still new and don’t understand everything, but also I’ve heard Trace Mayer talk about “proof of keys” and that we should do that once a year every year and that he runs his own node. So, I’m also wondering: Do we need to run our own node to have our own private keys? I also have some of my cryptocurrencies on Binance because of the interest rates I’m receiving monthly. I’m tempted to increase, but also hesitant because if someone hacks the exchange, they could steal the bitcoins. So, I’m still confused because if someone hacked an exchange, “who owns the private keys for those BTC or cryptocurrencies that might have been stolen?”
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